SBI Card has made some changes on credit card benefits and offers with effect from May 1, 2023. SBI Card offers many credit cards and offers vary depending on the type of card.
Latest changes on SBI credit cards
According to the SBI Card website, AURUM Cardholders will no longer receive the Rs. 5,000 coupon from RBL Luxe upon hitting the annual spend milestone of Rs. 5 Lakh, but will instead receive the voucher from Tata CLiQ Luxury starting on May 1st, 2023.
From the aforementioned date forward, the AURUM Card will no longer offer the EazyDiner Prime and Lenskart Gold Membership benefits.
Online Rent Payment Transactions with SimplyCLICK SBI Card and SimplyCLICK Advantage will change from 5X Reward Points SBI Card to 1X Reward Points from May 1, 2023.
Other changes
SBI Card has reduced 10X Reward Points on Lenskart Online Purchases with the SimplyCLICK SBI Card and SimplyCLICK Advantage Beginning to 5X reward points from April 1, 2023. However, your card will still earn 10X Reward Points for purchases made online at Apollo 24X7, BookMyShow, Cleartrip, EazyDiner, and Netmeds.
Processing Fee per transaction for all SBI Credit Card transactions for Rent Payment was increased to Rs. 199 + applicable taxes on March 17, 2023 from Rs. 99 + applicable taxes.
Here is a look at the charges for various credit cards, as per the Most Important Terms and Conditions on the SBI Card website.
Annual & Renewal Fees
The SBI Credit Card (SBI Card) has annual and renewal fees that must be paid. The SBI card charges an annual fee between Rs. 0 and Rs.9999 plus applicable taxes. While a yearly charge of between Rs. 0 and Rs.9999 plus applicable taxes is made for the renewal fee. Depending on the card variation and the cardholder, these costs will change.
Cash Advance Fees:
SBI ATMs/Other Domestic ATMs: 2.5% of transaction amount (subject to a minimum of Rs. 500)
International ATMs: 2.5% of transaction amount (subject to a minimum of Min. Rs. 500)
Other Charges & Fees
Cash Payment Fee: Revised from Rs. 199 to Rs. 250 w.e.f. 01 Sep 2021
Payment Dishonor Fee: 2% of Payment Amount (subject to a minimum of Rs. 500 )
Cheque Payment Fee: Rs. 100
SBI billing
Minimum Amount Due shall be Total GST + EMI amount + 100% of Fees/Charges + 5% of [Finance Charge (if any), Retail Spends and Cash Advance (if any)] + Overlimit Amount (if any)].
Payments received for the cardholder’s outstanding balance will be applied in the following order: Fees & Other Charges, Interest Charges, Balance Transfer Outstanding, Purchase Outstanding, and Cash Advance. The minimum amount due includes all applicable taxes, EMI on loan plans, and 5% of Total Outstanding.
Different ways to make credit card payment
By logging onto sbicard.com and using Payment option to make payment through netbanking or your SBI ATM cum debit card.
By mailing a Cheque or draft to the mailing address provided on the reverse of the monthly statement.
By dropping a Cheque or draft into any of the SBI Card drop boxes placed in your city or in designated State Bank of India branches.
The Cheque/draft should be made payable to “SBI Card Number xxxx xxxx xxxx xxxx”.
ECS: Payments can be made through the Electronic Clearing System (ECS) in select cities.
Source By: economictimes
