SBI Card Payment Charges: If you use the credit card of the State Bank of India, then there is big news for you. Now the processing fee has been increased on some credit card transactions done through credit card. According to the new update of SBI Cards, now credit card rent payment transactions and merchant EMI transactions will attract higher processing fees. These new charges have come into effect from November 15, 2022. SBI Cards has also sent SMS in this regard to its customers.
SBI Card Payment Charges
According to the SBI Card website, ‘From November 15, 2022, a processing fee of Rs 99 + applicable taxes will be charged on all fare payment transactions.’ Furthermore, ‘From November 15, 2022, a processing fee of Rs 199 + applicable taxes of Rs 99 + applicable taxes will be charged on all merchant EMI transactions.’ That is, if you are paying the rent by credit card, then a processing fee of Rs 99 and GST at the rate of 18 percent will be applicable.
ICICI Bank also increased the processing fee
Last month, ICICI Bank also increased processing on credit card rent payments by 1 percent. This new charge was implemented on October 22 for the bank’s credit card holders.
Apart from this, SBI Cards has issued another notice for its cardholders, according to which the reward points for shopping on Amazon are also going to be cut. 10X reward points for purchases on e-commerce sites with simply click/SimplyCLICK advantage SBI Card to become 5X points from January 2023.