There is bad news for the users of SBI Credit Card. Now you will have to pay more money for EMI transactions done through SBI’s credit card. SBI Cards and Payment Services Private Limited (SBICPSL) said that now the cardholder will have to pay Processing Fees and Taxes for EMI transactions.
New Delhi. If you are a user of SBI Credit Card then there is bad news for you. In fact, now EMI offered by SBI credit card transactions ( EMI Transactions now) you’ll pay more money. SBI Cards and Payment Services Pvt Ltd (SBICPSL) announced that the longer the cardholder for EMI transaction 99 processing fee of Rs ( Processing Fees ) and will have to pay tax (Tax) on it. This new rule will come into effect from 1 December 2021.
Processing charge to be paid in addition to interest charge?
Sbiaiseepisel addition to retail outlets, Amazon ( Amazon ) and Flipkart ( Flipkart ) will charge fees for processing a variety of e-commerce conducted on websites all EMI transaction. These fees are in addition to the interest charges levied on converting the purchase into EMI. The company has informed its customers about the new charges through email.
When will information about processing charge be given?
Processing charges are applicable on the transaction successfully converted into EMI. Any transaction done through credit card before 1st December 2021 will be exempted from this processing charge. The company will inform the cardholders about the processing charges on EMI transactions through the charge slip while making purchases at the retail outlets.
Will the fee be refunded in case of cancellation of the transaction?
For online EMI transactions, the company will provide information about the processing charge on the payment page. In case of cancellation of EMI transaction, the processing fee will be refunded. However, it will not be refunded in case of pre-closure. Reward Points will not be applicable for transactions converted into EMI.
