Transaction fees have been revised by the country’s largest lender State Bank Of India (SBI) for various credit-card-related transactions.
Processing fees have been revised for all Merchant EMI transactions and all Rent Payment transactions made via SBI Credit Cards states the official website of SBI. The new fees are effective from November 15, 2022.
SBI card mentioned on its website that “w.e.f. November 15, 2022, Processing Fee of Rs.99 applicable taxes will be levied on all Rent Payment Transactions.”
The SBI card website also reads “w.e.f. November 15, 2022, Processing fee on all Merchant EMI Transactions will be revised to Rs.199 applicable taxes from Rs.99 applicable taxes.”
The SBI website has also made an announcement stating “Accrual of 10X Reward points on online spends at Amazon. in with SimplyCLICK/ SimplyClick Advantage SBI Card will be revised to 5X Reward Points w.e.f. January 1, 2023. Customer’s card will continue to 10X Reward Points on online spends at Apollo 24×7, Book My Show, Cleartrip, Eazy Dinner, Lenskart & Netmeds, Terms and Conditions applied.”
Earlier in October, SBI Card had also announced that w.e.f. October 01, 2022 Fees, Charges & GST will not accrue any interest, and will be included in the minimum amount due.