SBI Card Revises Fees and Charges: Find out the New Charges & Changes Coming from Next Month

SBI Card has announced a revision in fees and charges effective from November 1st. The new fee structure affects certain types of transactions, including education payments through third-party apps, wallet loads above Rs. 1,000, and card replacement services. SBI credit cardholders are advised to check the revised rules carefully to avoid unexpected deductions.

1% Fee on Education Payments via Third-Party Apps

From November 1st SBI Card users will have to pay a 1% transaction fee if they make school, college, or tuition fee payments through third-party platforms like CRED, Cheq, or MobiKwik. However, no extra fee will apply if the payment is made directly on the educational institution's website, mobile app, or POS terminal.

Wallet Load Charges Above Rs. 1,000

SBI Card will also start levying a 1% charge on wallet loads exceeding Rs. 1,000 done through select merchant codes. This new rule applies to digital wallets and payment apps used for money transfers or recharges. Smaller top-ups under Rs. 1,000 will continue to remain free.
The new policy is expected to impact frequent users of wallets like Paytm, PhonePe, Amazon Pay, and MobiKwik, who often use credit cards for quick balance top-ups.

Other Fees That Continue Unchanged

Along with the revised transaction charges, SBI Card has kept several existing fees unchanged that customers should be aware of:

• Cash Payment Fee, which is Rs. 250 per transaction
• Cheque Payment Fee is Rs. 200.
• Payment Dishonour Fee, which is 2% of the amount, and the minimum transaction is Rs. 500
• Cash Advance Fee, which is charged at 2.5% of the withdrawn amount
• Card Replacement Fee: Rs. 100 to Rs. 250, while it is charged Rs. 1,500 for premium cards like SBI Card Aurum
• Emergency card replacement abroad costs $175 for Visa cards and $148 for Mastercard variants.

Effective Date and User Advisory

The revised SBI Card charges will be applicable from next month, November 1st. Customers are urged to check the updated terms on the official SBI Card website or through the SBI Card app before making any large transactions or education-related payments.