SBI Card to Levy 1% Fee on Wallet Top-ups and App-based Education Payments from November 1

Starting November 1, 2025, SBI Card will introduce new fees on certain types of digital payments. A 1% charge will now apply to wallet top-ups exceeding ₹1,000 and to education payments made through third-party apps.

1% Fee on Education Payments via Apps

SBI Card will charge a 1% fee on payments made to schools, colleges, and other institutions through payment apps such as Paytm, PhonePe, or Razorpay. However, if users pay directly through the institution’s website or at its on-campus POS terminals, no fee will be charged. 

For example, paying school fees through an app will now include a 1% charge, but paying directly on the school’s website will not.

Wallet Loads Above ₹1,000 to Attract Fee

SBI Card will also charge a 1% fee for adding funds to digital wallets like Paytm or Amazon Pay if the amount exceeds ₹1,000.

• Loading ₹2,000 into a wallet will cost ₹20 as a fee.
• Wallet loads of ₹1,000 or below will remain free of charge.

Other Charges Unchanged

All other existing charges remain the same, including:

• Cash payment fee: ₹250
• Payment dishonour fee: 2% of the amount (minimum ₹500)
• Cheque payment fee: ₹200
• Cash advance fee: 2.5% (minimum ₹500)
• Card replacement fee: ₹100–₹250 (₹1,500 for Aurum cards)
• Late payment charges: ₹400–₹1,300 depending on the due amount

Read More: Best Artificial Intelligence Stocks for November 2025: Persistent, Saksoft, and More Based on 5-Year CAGR.

What Cardholders Should Do

• Pay education fees directly through official portals to avoid the 1% charge.
• Keep wallet top-ups within ₹1,000 whenever possible.
• Check monthly credit card statements from November to track any new deductions.

SBI Cards and Payment Services Share Price Movement

SBI Cards and Payment Services share price (NSE: SBICARD) closed at ₹886.00 on October 30, down ₹24.95 or 2.74% for the day. The stock opened at ₹912.00 and touched an intraday high of ₹915.00 and a low of ₹883.10. The company’s market capitalisation stands at ₹84,300 crore, with a price-to-earnings (P/E) ratio of 43.99 and a dividend yield of 0.28%. 

Conclusion

SBI Card’s latest fee revision aims to streamline transaction costs but may slightly raise expenses for users who rely on apps for routine payments. Paying directly on official platforms and limiting wallet top-ups can help cardholders avoid extra fees.

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