The new SBI debit card rates will come into effect from April 1.
State Bank of India (SBI) has announced an increase in annual maintenance charges for certain categories of debit cards. The new rates will apply from April 1, the first day of the new financial year, according to a press release posted on the SBI website. The new charges will apply to Classic/Silver/Global, Yuva/Gold, Platinum and Pride/Premium Business debit card categories, the website said. For the convenience of its customers, the bank has tabulated the new charges.
The annual maintenance charges have been increased by Rs 75 for various categories, the website showed.
The revision of the annual charges as stated on the SBI website
The public lender also mentioned other charges associated with debit cards. This includes the issuance and replacement of debit cards.
The issuance charges vary depending on the type of card, ranging from zero for Classic, Silver, Global and Contactless debit cards to Rs 300 plus GST for Platinum debit cards.
The customers will also have to pay for services like debit card replacement (Rs 300 plus GST), duplicate PIN/PIN regeneration (Rs 50 plus GST) and international transactions, as mentioned on the SBI website.
The bank has stated that all charges will be subject to GST at 18 percent.
The bank had announced changes in the minimum daily bill calculation process for its credit cards in February. The change came into effect from March 15 and the bank informed all its customers by email.
On his websitethe bank also said that the collection of reward points on rental payments for some credit cards will be stopped from April 1, 2024.
SBI is the second largest credit card issuer in the country, with a user base of over 18 million cards.