Credit Card New Rule: This Bank has made some major changes in the rules and benefits of its Royal Signature Credit Card. These changes will come into effect from June 1, 2025. If you have this card, then know that now the ways of spending, getting rewards and using the benefits are going to change.
You will still get these benefits
You will continue to get 4 reward points for every Rs 150 spent. Apart from this, you will also get the benefit of free use of domestic airport lounge twice every quarter. Facilities like surcharge waiver on fuel and railway ticket booking will also continue.
Limit imposed on fuel expenses
Now 1 percent surcharge waiver will be available only on fuel expenses ranging from Rs 500 to Rs 5000. You will also be able to get a maximum discount of up to Rs 3500 in a year.
New limit for earning reward points
Now reward points will be available only on spending up to Rs 70 thousand in one statement cycle on education and insurance. Points will be available only on spending up to Rs 50,000 on utility bills and Rs 40,000 on government expenses.
Points will no longer be available on these expenses
No reward points will be available for adding money to the wallet, paying rent, buying fuel and spending on online games. Also, these expenses will no longer be counted in the milestone benefit.
Value of reward points reduced
Now the value of each reward point has been reduced from 25 paise to 20 paise. It will be necessary to have at least 2000 points to redeem in cash.
Lounge access will now be linked to expenses
Now free airport lounge access will be available only if you spend at least Rs 75,000 in the previous quarter. Only then will you get its benefit in the next quarter.
Interest rate and new charges also added
Now the interest rate on the card has increased from 3.5% to 3.75% per month. Also, a 1% transaction fee will be charged on many expenses – like putting money in the wallet, online gaming, government expenses of more than 10 thousand rupees, utility bills of more than 50 thousand and fuel expenses of more than 35 thousand.
Fees will also be charged on education fees
If you pay school or college fees through a third party app (like PhonePe, CRED or Mobikwik), then a 1% charge will be levied. But if you pay directly from the school’s website or machine, then this charge will not be levied.
If auto debit fails, then you will have to pay a penalty
If the auto debit EMI of your card fails, then you will have to pay a 2% penalty on the total outstanding amount. This charge can be at least Rs 450 and at most Rs 5000. So if you use this card, then plan your expenses keeping these new rules in mind.
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