SBI Credit Card: If you are a user of SBI credit card then you may be shocked. Now you will have to pay more money for transactions done with SBI’s credit card.
New Delhi: There is big news for crores of customers of SBI. If you also use SBI Credit Card, then you can get a big shock from this news. Tomorrow i.e. from 1st December, shopping with SBI card can be costly for you. Actually, now you will have to pay more money for EMI transactions done through SBI credit card.
SBI Cards and Payment Services Private Limited (SBICPSL) has announced that for EMI transactions, the cardholder will now have to pay a processing fee of Rs 99 and tax on it. This new rule will come into effect from tomorrow, 1 December 2021.
Will have to pay other processing charges
SBI will charge processing fees from its crores of customers for all EMI transactions done at SBICPSL retail outlets and e-commerce websites like Amazon and Flipkart. 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 charge by email.
When will the information be given
Processing charges are applicable on the transaction converted into EMI. Let us tell you that now according to the new rule, any transaction done before December 1 will be exempted from this processing charge. The company will inform the cardholders about the processing charges on EMI transactions through charge slips while making purchases at the retail outlets.
In this regard, for online EMI transactions, the company will give information about the processing charge on the payment page. If your EMI transaction is cancelled, the processing fee will be refunded. However, it will not be refunded in case of pre-closure. Not only this, reward points will not be applicable for transactions converted into EMI.
