SBI Credit Card Charges

SBI Card charges fees for different services on its credit cards, like cash withdrawal, balance transfer, international payments, and partial bill payment. Some of the fees include forex mark-up, interest rate, and late payment fees. Let's explore these SBI credit card charges in detail. SBI offers different credit cards, and you can pick one that suits how you spend money. Besides the cool features, you can also get extra services by paying a small fee. The charges might change depending on the type of card you have and how you use it.

If you don't pay your entire credit card bill on time, SBI charges you a finance charge, which is basically the interest rate. You'll see this charge in a few situations:

1. When you take out cash using your credit card.

2. If you don't pay off the full amount from your last bill and carry some over to the next one.

3. When you forget to pay your credit card bill on time.

The interest rates applied to some of the top SBI credit cards are as follows:

SBI Credit Card Interest Rate
SBI Cashback Credit Card 3.50% p.m. (42% p.a.)
SBI PRIME Credit Card 3.50% p.m. (42% p.a.)
Shaurya SBI Card 2.75% p.m. (33% p.a.)
Yatra SBI Credit Card 3.50% p.m. (42% p.a.)
SBI SimplyCLICK Credit Card 3.50% p.m. (42% p.a.)
SBI SimplySAVE Credit Card 3.50% p.m. (42% p.a.)

SBI Credit Card Interest-Free Period

SBI Card provides users with an interest-free period ranging from 20 to 50 days. This period is calculated from the last statement generation date to the current due date. No interest is charged on purchases made during this time. It's essential to note two important things about the SBI credit card interest-free period:

1. The interest-free period doesn't apply if you have carried over an outstanding balance from the previous cycle to the current one.

2. The interest-free period isn't applicable to cash withdrawals.

The SBI credit card cash withdrawal fee, also called the cash advance fee, is a one-time charge applied to every credit card ATM cash withdrawal. This fee is calculated as a percentage of the withdrawn cash amount, and the details are outlined below:

SBI Credit Card Cash Withdrawal Charges

2.5% of the cash amount withdrawn or Rs. 500, whichever is higher

For instance, if you withdraw Rs. 10,000, the applicable cash advance fee will be Rs. 500 as 2.5% of Rs. 10,000 is just Rs. 250. On the other hand, if you make a cash withdrawal of Rs. 22,000, the applicable transaction fee will be Rs. 550, instead of Rs. 500.

Note: In addition to the above mentioned cash withdrawal charge, finance charges are also applicable on that cash amount from the day of withdrawal.

SBI Card gives customers a range of credit cards to pick from, starting with basic ones to more premium options. But, these cards come with a yearly fee that gets charged when you first get the card and every year after that. Many cards offer a waiver of this fee if you meet specific conditions. Check the table below to see the yearly fee for some popular SBI credit cards:

Credit Card Annual Fee Fee Waiver/Reversal Condition
BPCL SBI Card Rs. 499 On annual spends of at least Rs. 50,000
SBI Simply CLICK Credit Card Rs. 499 On annual spends of at least Rs. 1 lakh
Cashback SBI Card Rs. 999 On annual spends of at least Rs. 2 lakh
SBI Card Pulse Rs. 1,499 On annual spends of at least Rs. 2 lakh
SBI Card PRIME Rs. 2,999 On annual spends of at least Rs. 3 lakh
SBI Card ELITE Rs. 4,999 On annual spends of at least Rs. 10 lakh

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When you use your credit card for transactions outside your home country, like online payments in foreign currency or making purchases on a Point of Sale (POS) linked to an account outside India, you get charged a foreign currency exchange mark-up fee, also known as the forex mark-up. This fee is also applicable to offline payments or ATM cash withdrawals made overseas. Here are the forex mark-up fees charged by SBI Card:

  • For SBI ELITE and Aurum credit card variants: 1.99% of the transaction amount.
  • For all other SBI credit cards, except ELITE and Aurum: 3.5% of the transaction amount.

Note: The SBI Aurum credit card is a super premium card available to selected customers through invitation only.

When you transfer the outstanding balance from another credit card to your SBI credit card, SBI charges a processing fee known as the SBI credit card balance transfer fee. After the balance transfer, you have the option to repay the balance either in a lump sum or through EMIs. The charges applicable vary depending on the EMI tenure you choose, and they are as follows:

Tenure Processing Fee Interest Rate
60 days 2% or Rs. 199, whichever is higher 0% p.m.
180 days Nil 1.7% p.m. (20.40% p.a.)

Sometimes, SBI Card might allow you to make purchases that go beyond your credit limit, depending on certain rules. If you do this, they charge you a fee called the overlimit fee. It's either Rs. 600 or 2.5% of the first transaction amount that's over your credit limit, whichever is higher. This fee also applies if your credit limit is exceeded because of other charges or interest on your SBI credit card.

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Fee Type Amount
Add-on Card Fees Nil
Minimum Finance Charges Rs. 25
Cash Payment Fees Rs. 250 + taxes
Payment Dishonour Fees 2% of payment amount or Rs. 500, whichever is higher
Card Replacement Fee Rs.100 to Rs. 250 (Rs. 1,500 for Aurum Card)
Cheque Payment Fee Rs. 100
Rewards Redemption Fee Rs. 99 (On gifts, statement credit & selected vouchers)
Rent Payment Transaction Processing Fee Rs. 199

If you fail to pay at least the minimum amount due on your credit card by the due date, SBI Card will impose a late payment fee. The late payment fee is determined based on the outstanding balance amount, and the details are as follows:

Total Outstanding Amount Late Payment Charges
Up to Rs. 500 Nil
From Rs. 501 to Rs. 1,000 Rs. 400
From Rs. 1,001 to Rs. 10,000 Rs. 750
From Rs. 10,001 to Rs. 25,000 Rs. 950
From Rs. 25,001 to Rs. 50,000 Rs. 1,100
More than Rs. 50,000 Rs. 1,300

Additionally, SBI Card imposes an extra fee of Rs. 100 if you fail to pay the minimum amount due for two consecutive billing cycles. This fee continues to be charged in each cycle until you settle the minimum amount due.

1. Will finance charges be applicable if the bill is paid in full?

No, finance charges are only applied if you don't pay your bills on time or if you withdraw cash using your credit card.

2. What is Minimum Amount Due (MAD)?

This is the smallest amount customers need to pay to avoid late fees or having their card blocked. It's typically 5% of the outstanding amount, plus taxes (if any), active EMIs, and any applicable fees or penalties.

3. What will happen if I over-utilize the limit on my SBI credit card?

If you spend more than your credit limit, you might face over-limit charges or have your card blocked. To unblock your credit card, pay off a bit more than the amount exceeding the limit.

4. What should I do if I lose my credit card?

If you happen to lose your SBI credit card, call the SBI Card customer care center immediately to have it blocked. You can reach them at the toll-free numbers 1860 180 1290 and 1800 180 1290.

5. Are there any hidden SBI credit card charges?

Card issuers list all relevant charges in the Most Important Terms & Conditions (MITC) Document. It's important for customers to carefully read the SBI MITC Document to fully grasp the charges associated with their SBI Credit Card.

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