Attention Debit Card Holders, Your Maintenance Charges Are Set To Spike: THIS Bank Has Revised The Prices

India's largest public lender, State Bank of India (SBI), has announced updates to its annual maintenance charges for debit card holders, slated to be implemented starting April 1, 2024.

Revised Rates

According to a disclosure made on its website on Wednesday, March 27, the revised changes for the debit card are as follows:

Classic, Silver, Global, and Contactless Debit Cards: The annual maintenance charges for these categories will be increased to Rs 125 plus GST, up from the current Rs 200 + GST.

Yuva, Gold, Combo Debit Card, and My Card: The revised fee for these cards will be Rs 250 + GST, previously Rs 175 + GST.

Platinum Debit Card: SBI has raised the annual maintenance charge to Rs 325 + GST from the existing Rs 250 + GST.

Pride/Premium Business Debit Card: The maintenance charge for this category will now be Rs 425 + GST, up from Rs 350 + GST.

Other Revisions

The bank will also adjust fees related to the issuance and replacement of debit cards. For services like replacement of the debit card, a fee of Rs 300 + GST will be applicable.

International transaction charges will include Rs 25 + GST for balance enquiry at ATMs, and a minimum of Rs 100 + 3.5 per cent on cash withdrawal transactions.

For Point of Sale (PoS)/eCommerce transactions, a fee of 3 per cent of the transaction amount + GST will be charged.

Changes for Credit Card Holders

SBI has also announced changes to the policy regarding reward points accumulation on rent payment transactions for certain credit cards. The accrual of reward points will be suspended for specific cards from April 1, with accumulated points set to expire on April 15.