The charges associated to substitute of debit playing cards may also be revised.
The upkeep prices might be revised for Classic, Silver, Global, Platinum and Contactless debit playing cards.
The largest financial institution in India, State Bank of India (SBI), has not too long ago revised its annual upkeep prices for debit playing cards and has introduced a hike of Rs 75. This might be efficient from April 1, 2024, as per the SBI web site. The announcement talked about that the upkeep prices might be revised for Classic, Silver, Global, Platinum and Contactless debit playing cards. At the identical time, prices for Yuva, Gold and Combo Debit playing cards may also see a hike. In addition to those annual upkeep prices, the charges associated to the issuance and substitute of debit playing cards may also be revised.
As per the SBI web site, the debit playing cards together with Classic, Silver and Contactless Debit Cards’ present charges are Rs 125 + GST. This has been revised to Rs 200 + GST. Debit playing cards like Yuva, Gold, Combo Debit Card and My Card (Image Card) have present charges of Rs 175 + GST which has elevated to Rs 250 + GST. For the SBI Platinum debit card, the annual upkeep might be Rs Rs 325 + GST. The present cost is Rs 250 + GST. SBI Debit Cards resembling Pride Premium Business Debit Card, the annual upkeep cost is Rs 350 + GST, which has been hiked to Rs 425 + GST.
Apart from this, you will need to word that the costs for providers like substitute of the debit card might be Rs 300 + GST, for duplicate PIN or regeneration of PIN, it is going to be Rs 50 + GST and for worldwide transaction prices it’s Rs 25 + GST for stability enquiry at ATMs. A minimal of Rs 100 + 3.5 per cent on money withdrawal transactions. A 3 % of the transaction quantity + GST might be charged for Point of Sale (PoS)/eCommerce transactions. All these prices talked about are subjected to 18 per cent GST.
As per the SBI web site, the accrual of reward factors on hire cost transactions might be suspended for just a few bank cards from April 1 onwards. The accumulation of reward factors on hire cost transactions in just a few bank cards will expire on April 15.
