Along with credit card interest rates payable on default, other charges are also payable which are mentioned below:
Nature of fee/charge | Federal Bank SBI VISA Gold ‘N More | Federal Bank SBI Visa Platinum Credit Card |
Joining Fee (one-time) | Rs.499 against which reward points worth Rs.499 are given on the first spend using the card | Rs.2999 against which the card promises a welcome benefit of Rs.2999 making the card free |
Annual Fee payable every year | Rs.499 which is waived if the spending in the last year is more than Rs.75, 000 | Rs.2999 which is waived if the previous year’s spending on the card is more than Rs.2 lakhs |
Add-on fee payable every year | Nil | Nil |
Finance Charges or Federal Bank Rate of Interest | 3.35% per month or 40.20% per annum | 3.35% per month or 40.20% per annum |
Minimum Amount Due | 5% of the outstanding bill with a minimum of Rs.200 | 5% of outstanding bill along with a minimum amount of Rs.200 |
Cash Advance Limit | Up to 80% of the credit limit allowed under the card with a maximum of Rs.12, 000 per day | Up to 80% of the allowed credit limit with a maximum of Rs.15, 000 per day |
Free credit period | Nil | Nil |
Cash advance fee at ATMs | 2.5% for domestic ATMs and Rs.300 at international ATMs or Rs.300 whichever is higher as per each transaction | Higher of 2.5% of the withdrawal amount or Rs.300 at any ATM |
Surcharges | Railway tickets booked through the counter – Rs.30+2.5% of the transaction amount Tickets booked online – 1.8% of the transaction amount and applicable taxes | Railway tickets booked through the counter – Rs.30+2.5% of the transaction amount Tickets booked online – 1.8% of the transaction amount and applicable taxes |
Fuel Surcharge | 2.5% for each transaction ranging from Rs.500 to Rs.3000 and applicable taxes. The maximum waiver per credit card statement billing cycle would be limited to Rs.100 | 2.5% for each transaction ranging from Rs.500 to Rs.4000 and applicable taxes. The maximum waiver per credit card statement billing cycle would be limited to Rs.250 |