SBI hikes annual maintenance charge for some debit cards from April 1; check list
Upstox
2 min read • Updated: March 28, 2024, 9:29 AM
Summary
SBI has raised the maintenance charges by up to ₹75 for the following categories of debit cards: Yuva, Gold, Combo, and Platinum. The new rates will come into effect from the start of the next financial year on April 1, as per a disclosure made on the bank’s website.
The State Bank of India (SBI), the country’s largest state-run lender, has hiked annual maintenance charges levied on several categories of debit cards, as per a disclosure made on its website on Wednesday, March 27. The new rates will come into effect from April 1, 2024.
SBI has raised the maintenance charges by up to ₹75 for the following categories of debit cards: “Yuva, Gold, Combo, and Platinum debit cards”.
In addition to the above debit cards, the bank said it is also raising the annual maintenance charges by up to ₹75 for “Contactless, Classic, Silver, and Global” debit cards.
Full list of revised annual maintenance charges for SBI debit cards:
- The charges levied on Classic, Silver, Global, and Contactless cards will be raised to ₹125 in addition to the GST, from the current charge of ₹200 + GST.
- For Yuva, Gold, Combo Debit Card and My Card, the rate will be increased to ₹250 + GST from ₹175 + GST at present.
- The charge levied on Platinum Debit Card will be raised to ₹325 + GST from ₹250 + GST at present.
- For Pride/Premium Business Debit Card, the charge will be increased to ₹425 + GST from ₹350 + GST at present.
Apart from the revision in annual maintenance charges of debit cards, the SBI is amending the policy related to the accrual of reward points on rent payment transactions on some credit cards. From April 1, the accrual of such reward points would be suspended for “certain cards”, the bank said. For some credit cards, such accumulated reward points will expire on April 15, it added.