SBI Card to Revise Service Charges and Fee Structure from November 1

SBI Card has announced revisions to its service charges and fee structure, effective November 1. The changes will impact select transactions such as education fee payments, wallet top-ups, and card replacements.

Education Fee Payments to Attract 1% Charge

From November 1, SBI Card holders making school or college fee payments through third-party apps will be charged 1% of the transaction amount. Payments made directly on school, college, or university websites, or through POS machines, will remain free of charge, the card issuer clarified.

Wallet Loads Above ₹1,000 to Attract Charges

Cardholders loading more than ₹1,000 into their wallets at certain merchant codes will incur a 1% fee on the transaction. This change will also take effect from November 1.

Existing Charges and Late Payment Fees

SBI Card continues to apply existing charges for cash payments, cheque payments, cash advances, card replacements, and emergency card replacements abroad. These fees vary by transaction type and card category, with premium cards such as Aurum attracting higher charges.

Late payment fees for failing to pay the Minimum Amount Due (MAD) will remain on a tiered basis, ranging from zero for smaller amounts to over ₹1,300 for higher dues. Additionally, if a cardholder misses MAD payments for two consecutive billing cycles, an extra charge of ₹100 will apply.

Objective of Revisions

SBI Card stated that these revisions aim to provide cardholders with greater clarity on transactions that attract fees. The issuer emphasised that timely payments remain key to avoiding unwanted charges or interest.

Read More: SBI Card & IndiGo Launch BluChip Credit.

Conclusion

SBI Card’s revised fee structure, effective November 1, introduces charges on education payments via third-party apps and wallet loads above ₹1,000. Existing charges and late payment penalties remain unchanged, reinforcing the importance of timely payments for customers.

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