Credit card charges increased for SBI Card: Find new rates, dates, and other details

SBI Card has increased fees for some credit card transactions, including for utility bill payments and finance charges with differing effective dates

Published on: Oct 9, 2024, 12:45:25 IST

By HT News Desk | Edited by Abhyjith K. Ashokan

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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.

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

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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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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