SBI Card has raised fees for some credit card transactions, including for utility bill payments and finance charges, according to an Economic Times report, which added that the dates of effect vary for each.

Also Read: UPI Lite per transaction limit hiked to ₹1,000; UPI Lite wallet limit raised to ₹5,000

What are the new SBI Card finance charges?

SBI Card has revised finance charges from 3.50% per month to 3.75% per month, effective from November 1, 2024.

But this is not applicable to Shaurya, Defense.

“The minimum amount of Finance Charge levied on all transactions in the event of the Cardholder choosing not to pay his balance in full within payment due date, and on all cash advances taken by the Cardholder will be ₹25 each, exclusive of applicable taxes,” according to the SBI Card website.

Also Read: RBI projects 7.2% GDP growth for FY25, CPI inflation to moderate at 4.5%

What are the new SBI Card utility bill payments fees?

If the total amount of utility payments (telephone, mobile, electricity bills, insurance premiums, charitable donations, DTH services, internet, etc) made in a billing period goes over Rs.50,000, a 1% fee will be applied, effective from December 1, 2024.

What are some other changes?

Club Vistara SBI Credit Card and SBI Credit Card PRIME have now been discontinued, effectively from September 28, 2024.

Nominee registration for Credit Card Insurance is now mandatory as per RBI guidelines. It can be done through the SBI Card app or website.

Also Read: Home loan customers may have to wait as much till December for an EMI cut as RBI keeps rates unchanged

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