SBI Card to Add 1% Fees on Select Payments from November

SBI Card will revise its fee structure starting November 1, 2025. The changes will affect certain wallet loads, education-related payments, card replacements, and late payment charges. Customers should review these updates to avoid unexpected costs and maintain a healthy credit history.

New Charges on Education Payments and Wallet Loads

• SBI Card will apply a 1% fee on education payments made through third-party platforms like CRED, Cheq, and MobiKwik under specific Merchant Category Codes (MCCs).
• Direct payments to schools, colleges, or universities through SBI Card channels or on-site POS terminals will not incur this fee.
• Wallet transactions above ₹1,000 through select merchant codes will also attract a 1% fee.
• MCCs are defined by card networks and may change without prior notice, so cardholders should stay updated.

Other Key Charges

• Cash payment fee: ₹250
• Cheque payment fee: ₹200
• Dishonour fee: 2% of payment (minimum ₹500)
• Cash advance fee: 2.5% of the amount (minimum ₹500 domestically/internationally)
• Card replacement fee: ₹100–₹250 (₹1,500 for Aurum cards; emergency replacement abroad $175 Visa / $148 Mastercard)

Late Payment Charges

Late payments will be charged based on the Minimum Amount Due (MAD):

• ₹0–₹500: Nil
• ₹501–₹1,000: ₹400
• ₹1,001–₹10,000: ₹750
• ₹10,001–₹25,000: ₹950
• ₹25,001–₹50,000: ₹1,100
• Above ₹50,000: ₹1,300
• If MAD is unpaid for 2 consecutive billing cycles, an extra ₹100 per subsequent cycle will be added until the dues are cleared.

Read more: India Targets 1 Crore Rooftop Solar Homes by 2027; Solar Stocks in Focus.

SBI Card Share Price Movement

As of October 1, 2025, SBI Cards and Payment Services share price (NSE: SBICARD) was trading at ₹875.80, down ₹1.15 (0.13%) for the day. The stock opened at ₹873.10, touched a high of ₹882.85 and a low of ₹852.90. The company has a market capitalisation of ₹83,340 crore, a P/E ratio of 44.40, and a dividend yield of 0.29%. Its 52-week high and low are ₹1,027.25 and ₹659.80, respectively, with a quarterly dividend of ₹0.63 per share.

Conclusion

Though individual charges may appear small, they can accumulate over time. Customers are advised to monitor their spending, use preferred payment channels, and pay MAD on time to avoid extra fees and maintain a good credit score.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.