SBI Credit Card Charges

 Think Twice before Apply for Credit Card, Know Credit Card Charges

• The State Bank of India Credit Card take charges for cash withdraw advance fee, cash payment fee at SBI branch, interest charges for late payment, fixed late payment charges, card replacement charges, payment dishonor charges & cheque payment fees. Know the charges before apply for SBI Credit Card.

Cash Advances Fee

• If consumer withdraw pay advance from SBI Credit card, transaction fee is applicable on consumer.

Withdraw Amount	Domestic ATMs	International ATMs
	2.5% or Rs. 500 whichever is highest	2.5% or Rs. 500 whichever is highest
Rs. 10000	Rs. 500	Rs. 500
Rs. 20000	Rs. 500	Rs. 500

 

Cash Payment Fee

• Cash Payment at the SBI Branches from 1^st September 14, 2021

Cash Payment Charges

Rs. 250 + All applicable Taxes

 

Interest Free Grace Period

• It is lies between 20 to 50 days subject to submission of claims by merchant.

Interest Charges

• If the card holder does not pay full amount by due date, interest rate up to 3.5% per month ( 42% per year ). 
• From 1^st June, 2021, the card holder will be charged, interest rate of 3.65% per month ( 43.8% per year ) if the minimum amount due is not paid by the due date twice in a 12 month period.
• Let us say that Mr. XYZ miss Rs. 10,000 amounts on due date, He will have to pay at the end of one month.

Principal Amount	Rs 10,000
Late payment charges	Rs 750
Interest charges ( 3.65% )	Rs. 365
Total	Rs. 11,115

 

After 1 year

Principal Amount	Rs 10,000
Late payment charges	Rs 750
Interest charges ( 43.8% )	Rs. 4380
Total	Rs. 15130.00

 

• However, the final amount depends upon type of credit card and it may lower / higher than this amount. 
• This is just example to understand the calculation. 
• Whether GST is considered, I don’t have much idea, you have to contact State bank of India, if you miss to SBI Credit card payment after due date.

Payment Dishonor charges

Payment Dishonor charges

2% of payment amount or minimum Rs. 500

 

Card replacement charges

• Rs. 100 – Rs. 250 – Rs 1500 per annum ( depends upon type of credit card ) 

 

You may also like to read : Benefits of Amazon ICICI Credit Card ICICI Credit Card Late Payment Charges 12 years boy earns Rs. 2.09 Crore How Amazon Earns Profit?

 

Card Limit Increase

• If card holder wants to increase card limit, Rs. 200 charge levied on any new request.

Network change

• From 1^stSeptember, 2021, fee of Rs. 200 on any new request for the network ( Amex, Master Card, Visa and Rupay ) on your SBI credit card will no longer be applicable.

Cheque payment fee

• If you pay credit card bill by cheque, Rs. 100 is cheque payment fee.

Late Payment Charge ( LPC )

• The late payment charge is applicable if the minimum amount due is not paid by the payment due date.

Total amount due	Late payment charges
Less than Rs. 0 – Rs. 500	None
Between Rs 500 – Rs 1000	Rs. 400
Between Rs.1000 – Rs 10,000	Rs. 750
Between Rs. 10,000 – Rs 25,000	Rs. 950
Between Rs. 25,000 – Rs 50,000	Rs. 1100
More than Rs. 50,000	Rs. 1300

•  Additional late payment charge of Rs. 100 will be levied on missing payment of minimum amount due ( MAD ) by the due date for two consecutive cycles. 
• This charge will continue for every payment cycle until the MAD is cleared.

SBI Credit Card helpline Number

39020202 ( Prefix STD Code )

1860 180 1290