SBM One co-branded Credit Card (OneCard primary)
Primary card only · nil joining/annual/issuance fees · conditional 1% domestic fuel relief, ₹400/calendar-month/account cap
Try your spend →Conditional surcharge relief, not a guaranteed return
SBM-issued OneCard primary card only. Issuer KFS and MITC effective 29 June 2026 agree on nil joining, annual and primary issuance fees. Domestic fuel surcharge reversal is the lower of 1% of the purchase amount or the actual acquiring-bank surcharge, excluding GST, capped at ₹400 per calendar month per account. This conditional estimate assumes the actual surcharge is at least 1% and the account cap is unused. If the actual surcharge is lower, relief is lower; without a surcharge there is no relief. Other fuel purchases on the same account consume the shared cap. One eligible offline purchase per month is modeled, repeated twelve times: min(1% of amount, ₹400) monthly, at most ₹4,800 annually. No transaction minimum or maximum is published in these specific fuel terms; none is imported from another issuer. This is surcharge relief, not cashback or a guaranteed net return. Online purchases and other categories are unpriced. Fuel earns no reward points. Ordinary points, 5X, forex, offers and deposit opportunity cost remain unpriced, not absent. Primary metal cancellation within six months of virtual activation costs ₹3,000, plastic ₹500; these conditional exit fees are not deducted from the recurring estimate. Optional add-on issuance and replacement fees are excluded. Eligibility and available credit limit must be checked with SBM/OneCard; the SBM issuer identity is not interchangeable with other banks or the generic SBM Secured card.
One purchase per month
With an actual surcharge of at least 1% and an unused cap, ₹1,000 gives ₹10 monthly relief, ₹10,000 gives ₹100, and ₹40,000 gives ₹400. ₹50,000 still gives at most ₹400. Twelve repeated eligible purchases give ₹120, ₹1,200 or at most ₹4,800 annually. A lower actual surcharge reduces the result. Other fuel purchases on the same account can consume the ₹400 calendar-month cap.
Current issuer documents disagree on unrelated charges
The KFS and MITC both say effective 29 June 2026 and agree on the primary nil fees and fuel terms. However, the KFS shows 1% rent and wallet-transfer charges while the MITC shows 2%, with its wallet charge applying at ₹10,000 cumulative monthly transfers. This conflict is unresolved. No rent/wallet return or fee assumption is used here. Check the terms applied to your own account before those transactions.
Costs outside the estimate
Primary cancellation within six months of virtual activation: ₹3,000 for metal or ₹500 for plastic. Optional add-on metal issuance: ₹3,000. Replacement charges and GST on fees may apply. Fixed-deposit opportunity cost, where relevant to your account, is unpriced. Nil recurring fees do not mean every action is free.
Issuer sources
SBM OneCard terms and issuer identity · SBM OneCard KFS: effective 29 June 2026 · SBM OneCard MITC: actual-or-1% fuel reversal and calendar-month/account cap
Checked 1 October 2026. KFS/MITC effective 29 June 2026. SBM issuer, primary only; no other OneCard issuer or generic SBM Secured card terms imported.