Key Fact Statement – Bettr Credit Card

A Fees and Charges
1 Joining fee for Primary or Add-on cardholder NIL
2 Annual Membership fee for Primary or Add-on cardholder NIL
3 Issuance Fee (Add-on cardholder)
  • Plastic Card
4 Card Cancellation Fee NIL
5 Cash Advance Fee/ATM withdrawal fee NIL
6 Service Charges levied for transactions:
  • Rewards Redemption Fee
  • Forex Markup Fee
  • Over Limit Fee
  • NIL
  • NIL
  • NIL
7 Interest Free Period** Up to 50 days from Statement generation date
8 Interest Rate Up to 3.5% monthly & up to 42% annually
9 Late Payment Charges 20% of Total Amount due or ₹1500/- whichever is lower
10 Repayment Charges
(Levied to offset any higher charges imposed by payment
gateways for processing transactions via select card BINs.)
11 Minimum Amount Date (MAD)*** 5% of Total amount due
B Drawal Limits
1 Card Limit Up to INR 1,00,000/-
2 Credit Limit Up to 100% of sanctioned limit
3 Cash Withdrawal Limit NIL

 Goods and Service Tax is applicable on all fees, interest and other charges

** Illustration on Interest Free (grace) period

Interest free period will not be available if you have not paid the previous month’s outstanding amount in entirety. Interest free period from the start of the billing cycle date shall not exceed 50 Days. Payment Due Date on your Card is 20 days after the Statement Date (Please check your statement for your exact Payment Due Date). Therefore, free credit period can range from 20 to 50 days depending on your Payment Due Date.

Illustrative Example for Interest Free Period Calculation:

For a statement for the period from 6th Mar 2021 to 5th Apr 2021 the payment due date would be 25th Apr 2021. Assuming that you have paid your Total Amount Due of the previous month statement by the payment due date, the grace period would be: For a purchase dated 15th Mar 2021, the interest-free grace period is from 15th Mar 2021 to 25th Apr 2021 i.e., 42 days.

For a purchase dated 1st Apr 2021 the interest-free grace period is from 1st Apr 2021 to 25th Apr 2021 i.e., 25 days.

Thus, the grace period can vary depending upon the date of purchase. However, if the Total Amount Due is not paid by the payment due date, then there will be no interest free period. For cash advances, interest is charged from the date of the transaction until the date of payment.

Billing Statement: Your billing statement will be generated every month (currently on 15th & 20th). It will contain a break-up of all purchases, repayments, fees, interest charges, refunds and taxes. In case the card was not used in a month, the statement will mention there were no spends in that month.

Mode of sending statement:  The billing statement will be shared over email, on a monthly basis to you, and will also be available on your Bettr app.

***Minimum Amount Due:

Without prejudice to the liability of the Card Holder to immediately pay all charges incurred, the Card Holder may exercise the option to pay only the minimum amount due indicated in the statement (“Minimum Amount Due”) by the due date. The Minimum Amount Due percentage shall be a certain percentage of the outstanding amount and will be communicated to the customer when their card is activated. In case of any repayment through instalments, the instalment amount due during the statement period will be added to the Minimum Amount Due. If the total outstanding is more than the credit or cash limit, then the amount by which the credit or cash limit has been exceeded will also be included in the Minimum Amount Due. Minimum Amount Due shall also include unpaid Minimum Amount Due of the previous statements, if any. Interest will be charged if the Total Amount Due is not paid by the payment due date even if the Minimum Amount Due has been paid.

Method of payment

Payments towards the Card account may be made using on the Bettr Credit App - customer can pay via net banking / debit card / UPI

Billing Disputes Resolution:

In the event the Card Holder disagrees with the charges indicated in the statement, it should be communicated in writing to the correspondence address of SBM Bank / Bettr Credit within 60 (sixty) days of receipt of the statement, failing which it would be construed that all charges indicated in the statement are in order.

Complete Postal Address of card issuer: SBM Bank (India) Limited, 1st Floor, Raheja Center, Free Press Journal Marg, Nariman Point, Mumbai, Maharashtra, India, 400021

Grievance Resolution

Helpline Number: 01243631820

Email id: help@bettrcredit.com

If you are not satisfied with the response from regular channels, you can escalate the issue by sending an email to customercare@sbmbank.co.in

For any escalation beyond this level, you can reach out to the bank at customercare@sbmbank.co.in or at 1800 1033 817 or you can contact the Nodal Officer at grievances@bettrcredit.com

Contact details of Grievance Redressal Official:



Service Disruption Notice

w.e.f July 1st, 2022

Banking Partner

sbm bank

Banking Partner

sbm bank