Using SBI cards to get expensive from April 1; Here's why

SBI has implemented significant alterations to its annual maintenance charges for various debit card categories.

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New Delhi: As the new financial year commences on April 1, State Bank of India (SBI) unveils changes that will impact its customers, particularly concerning debit card maintenance charges. The bank has decided to revise the annual maintenance fees for several categories of debit cards, which will come into effect from April 1.

Revised maintenance charges for SBI Debit Cards

SBI has implemented significant alterations to its annual maintenance charges for various debit card categories. Effective from the new financial year, revisions have been made to the charges applicable to Classic, Silver, Global, and Contactless Debit Cards, as well as Yuva, Gold, Combo, and Platinum Debit Cards.

Impact on Debit Card costs

The amendments bring about an increase in annual maintenance fees across different debit card types. For instance, the annual maintenance fee for Classic, Silver, Global, and Contactless debit cards will rise from Rs 125 to Rs 200, inclusive of GST. Similarly, the maintenance charges for Yuva, Gold, Combo, and My Guard Debit Cards have escalated from Rs 175 to Rs 200, accompanied by GST.

Revised charges for premium Debit Cards

Customers holding Platinum Debit Cards will witness a hike in annual maintenance charges from Rs 250 to Rs 325, along with additional GST. Moreover, the annual maintenance fee for Pride Premium Business Debit Cards has surged from Rs 350 to Rs 425, with GST applicable separately.

Changes in reward points scheme

In addition to the alterations in maintenance charges, SBI has announced modifications to its reward points system. Effective April 15, reward points earned on rent payments will no longer be available to customers.

Other changes in the new financial year

Besides revisions to debit card maintenance charges, SBI hints at forthcoming changes in various other aspects starting April 1. As the financial landscape evolves with the onset of the new fiscal year, customers are advised to stay informed about these adjustments.