SBI Credit Card Charges Increased: Changes in SBI Credit Card charges and fees, check new charges here

SBI Credit Card Charges Hiked : At present, life seems impossible without a credit card, almost everyone has at least one credit card in their wallet. If you are an SBI credit card holder, then this news is for you only.

State Bank of India Cards and Payment Services has changed the charges and fees of SBI Credit Card. The new charges will be effective from March 17, 2023. According to an SMS and email sent to SBI card customers, customers who were paying their fare through credit cards will be charged Rs 199 + taxes, going over Rs 99 + applicable taxes. SBI Card had increased the processing charge by 18 per cent to Rs 99 plus GST on rent payments made using credit cards in November 2022.

SBI Credit Card Charges and Fees at a Glance

1. Annual and renewal fees: Annual fees and renewal charges are applicable on SBI Credit Card (SBI Card). Annual fee is one time charge and renewal charge is taken every year. These charges differ from cardholder to cardholder and for multiple types of cards.
2. Cash Advance Fee: The Cardholder can use the Card to withdraw cash from Domestic/International ATMs in case of emergency. Transaction charges will be levied on all such withdrawals and will be billed to the cardholder in the next detail. A transaction charge of 2.5% or Rs 500, whichever is higher, will be levied at domestic ATMs and 2.5% or Rs 500, whichever is higher, at international ATMs.
3. Cash Payment Fee: Cardholder can make SBI Credit Card payment at select State Bank of India (SBI) branch by mentioning his credit card number and the amount in the pay-in slip and depositing it at the branch counter. The card holder will be given an instant payment acknowledgment slip. This facility is available at Rs 250 + taxes.
4. Interest Free Grace Period: The interest free loan period can range from 20 to 50 days, subject to the submission of the claim by the merchant.
5. Finance Charges: Finance Charges at monthly interest rate will be levied on all transactions including unpaid EMI installments from the date of transaction, in case the Cardholder chooses not to pay the full balance amount and on all Cash Advances availed by the Cardholder Is.