SBI credit card users: New charges on THESE transactions from... - Details

SBI new charges: India's largest public sector lender - State Bank of India (SBI) has millions of credit card users in the country. Additionally, today, SBI, which is often called the banker of every Indian, has emerged as one of the largest credit card issuers in the country.
The bank has over 22,000 branches across India and offers credit cards to its customers through SBI Cards. However, there is an update for individuals who utilize the SBI credit card.

SBI has announced two big changes to its charge calculation mechanism. These adjustments will take place during the coming months.
SBI credit card charges
So, SBI has revised its charges for unsecured credit cards and utility bill payment. Here are the details:
"W.e.f. 01 NOV 2024, the rate of Finance Charges will be revised to 3.75% p.m. on all unsecured SBI Credit Card (except Shaurya / Defense)," stated SBI in a notification.

The credit cards which are not secured by collateral, or a fixed deposit (FD) are called Unsecured credit cards. Hence, these cards unsecured are provided to you solely on the basis of your credit score and have no backup investment instrument, like savings account or other collateral.
SBI utility bill payments charges
Apart from this, the State Bank of India has also announced to increase the charges levied on utility bill payments using the SBI Cards.
"W.e.f. 01 DEC 2024, if the sum of all Utility Payments made in a billing cycle exceeds Rs.50,000, 1% fee on Total amount of Utility payments will be applicable," stated SBI.
In the last month as well, the bank made significant changes.

"W.e.f. 28 Sep ’24, the issuance of new Club Vistara SBI Credit Card has been discontinued," the bank notified.
"W.e.f. 28 Sep ’24, the issuance of new Club Vistara SBI Credit Card PRIME has been discontinued," it said.

Along with this, the public sector lender has recently announced that, "As per RBI guidelines, Nominee registration for Credit Card Insurance is mandatory."
For this, users need to log in to the SBI Card App or Website to add or update Nominee details to their Air Accident/Personal Accident Insurance policy.