SBI Credit Card : This news is very important for those who are currently using SBI credit card. From today, there are some changes in the card which perhaps you don’t know, but should aware about the changes in rules. This new changes from today will have a direct impact on your budget.
1% charge will be levied on education payments
If you pay school or college fees using your SBI credit card through Paytm, PhonePe, Razorpay, or other third-party apps, a 1% transaction charge will now apply. However, if you pay directly through the school or college’s website or their POS machine, there will be no additional fee. This means you’ll need to be careful when choosing your education payment platform.You will also have to pay a charge for depositing money in your wallet.
You have to bear extra charge
According to the new rule, if you add more than ₹1,000 to any digital wallet, such as Paytm Wallet, Amazon Pay, or Mobikwik, you’ll incur a 1% charge. For example, if you add ₹2,000 to your wallet, a ₹20 charge will be deducted, leaving only ₹1,980 in your wallet.
Other SBI card charges
Cash Payment Fee: If you pay the bill in cash, a charge of Rs 250 will be levied.
Payment dishonor fee: If your payment fails or bounces, a minimum charge of 2% of the payment amount or Rs 500 (whichever is higher) will be levied.
Cheque Payment Fee: Now a fee of Rs 200 will have to be paid for making payment by cheque.
Cash Advance Fee: 2.5% of the transaction amount or ₹500, whichever is higher, will be charged for cash withdrawals from ATMs. This fee applies both in India and abroad.
Card replacement fee: Rs 100 to Rs 250 for normal cards, while premium Aurum cards will cost up to Rs 1,500.