Wednesday, April 17, 2024
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SBI Revises Annual Maintenance Charges For Debit Cards From April 1

SBI Revises Annual Maintenance Charges For Debit Cards From April 1

The new SBI debit card charges will come into effect from April 1.

State Bank of India (SBI) has announced increase in its annual maintenance charges associated with certain category of debit cards. The new rates will be effective from April 1, the first day of the new financial year, as per a release posted on SBI website. The new charges will be applicable on Classic/Silver/Global, Yuva/Gold, Platinum and Pride/Premium Business categories of debit cards, the website further said. The bank has listed the new charges in a tabular form for the convenience of its customers.

The annual maintenance charges have been increased by Rs 75 across various categories, the website shows.

The revision in annual charges on SBI website

The revision in annual charges as mentioned on SBI website

The public lender has also mentioned other fees associated with debit cards. These include issuance and replacement of debit cards.

The issuance charges vary depending on the type of card, ranging from Nil for Classic, Silver, Global, and Contactless debit cards to Rs 300 plus GST for Platinum debit cards.

The customers will also have to pay for services like debit card replacement (Rs 300 plus GST), duplicate PIN/regeneration of PIN (Rs 50 plus GST), and international transactions, as mentioned on the SBI website.

The bank has mentioned that all charges are subject to an 18 per cent GST.

The bank had in February announced changes in its Minimum Day Bill Calculation process for its credit cards. The change had come into effect from March 15 and the bank informed all its customers about it through e-mails.

On its website, the bank also said that the accrual of reward points on rent payments will be discontinued for some credit cards starting April 1, 2024.

SBI is the second largest credit card issuer in the country, with a user base of over 18 million cards.

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