SBI Credit Card Payment: According to the new update of SBI Cards, now credit card rent payment transactions and merchant EMI transactions will attract higher processing fees. These new charges have come into effect from November 15, 2022.
SBI Card Payment Charges: If you use the credit card of State Bank of India, then there is important news for you. Now the processing fee has been increased on some credit card transactions done through credit card. According to the new update of SBI Cards, now the credit card rent payment transaction and merchant EMI transaction will attract higher processing fee. These new charges have come into effect from November 15, 2022. SBI Cards has also sent SMS regarding this to its customers.
According to the SBI Card website, “From November 15, 2022, all rent payment transactions will be charged a processing fee of Rs 99 + applicable taxes.” Also, “From November 15, 2022, all merchant EMI transactions will be charged a processing fee of Rs 199 + applicable taxes of Rs 99 + applicable taxes.” That is, if you are paying the rent with a credit card, then a processing fee of Rs 99 and GST at the rate of 18% will be levied on it.
ICICI Bank had also increased the processing fee
Last month, ICICI Bank also increased the processing fee by 1% on credit card rent payments. From October 22, this new fee was implemented for the bank’s credit card holders.
Apart from this, SBI Cards has issued another notice for its cardholders, according to which the reward points for shopping on Amazon are also going to be cut. 10X reward points for shopping on e-commerce sites with SimplyCLICK/SimplyCLICK Advantage SBI Card will become 5X points from January, 2023. You will continue to get 10X reward points for shopping at Apollo 24X7, BookMyShow, Cleartrip, EazyDiner, Lenskart & Netmeds.
