Lots of people who use the biggest government bank in the country, SBI, are going to be surprised next week.
The bank has said they’re going to charge more money each year for having different types of debit cards, starting from next week.
Changes starting from April 1st
On the State Bank of India’s official website, they said they’re increasing the yearly charge by up to Rs 75 for different debit cards.
These new charges will start from April 1st, 2024. Many people in the country have SBI debit cards, as SBI has the most customers in the country.
Here’s how the charges are increasing
For cards like SBI Classic, Silver, Global, and Contactless Debit Card, customers will now have to pay Rs 200 plus GST instead of Rs 125 plus GST.
Similarly, for cards like Yuva, Gold, Combo Debit Card, My Card (Image Card), the charge will be Rs 250 instead of Rs 175.
For SBI Platinum Debit Card, it’s now going to be Rs 325 instead of Rs 250.
And for Pride and Premium Business Debit Cards, the yearly charge is going up from Rs 350 to Rs 425. Extra GST applies to all these charges.
No more rewards
There are also changes for some SBI credit cards. SBI Cards said that from April 1st, some credit card holders won’t get reward points for certain payments made with their credit cards.
Impact on existing reward points
Those who have earned reward points on rent payments with their SBI credit cards will also be affected.
SBI Cards says these reward points will expire after April 15th, 2024.
So, if you have reward points from rent payments with your SBI credit card, it’s best to use them soon, or you might lose them.
