SBI Credit Card Charges

SBI credit card users are charged with a finance charge, also known as the interest rate, if they do not pay their complete credit card bill by the due date. This interest rate is applicable in the following cases:

• On credit card cash withdrawals
• On the outstanding amount carried forward to the next billing cycle after partial credit card bill payment
• On missed credit card bill payments

The credit card interest rate charged on some of the top SBI credit cards are as follows:

SBI Credit Card Interest-Free Period

SBI Card offers an interest-free period of 20 to 50 days to its users. This period is calculated between the last statement generation date to the current due date. During this period, no interest is charged on any of the purchases. Please note that the two most important things related to SBI credit card interest-free period:

• The interest-free period is not applicable if you have carried forward your outstanding balance from the previous cycle to the current cycle
• The interest-free period is not applicable to cash withdrawals

SBI credit card cash withdrawal fee is a one-time fee charged on every credit card ATM cash withdrawal. This fee, also known as the cash advance fee, is charged in the form of a certain percentage of the cash amount withdrawn as described below:

Note: In addition to the above mentioned cash withdrawal charge, finance charges are also applicable on that cash amount from the day of withdrawal.

SBI Card customers have a variety of credit card options from which they can choose from, including entry-level as well as premium category credit cards. However, these cards come with an annual or renewal fee. This fee is charged to the credit card account, as per the card variant, when the card is first issued and on the completion of every card anniversary year. Most cards also offer fee waivers on satisfying certain conditions. Refer to the table below to know the annual fee of some of the popular SBI credit cards:

Whenever you carry out an international transaction using your credit card, a foreign currency exchange mark-up fee, or the forex mark-up, is charged to your account. Apart from the offline payments or ATM cash withdrawals made overseas, international transactions also include the online payments made in foreign currency and domestic transactions on POS linked to an account outside India. The forex fee charged by SBI Card is given below:

• 1.99% of the transaction amount: Applicable on SBI ELITE and Aurum credit card variants

• 3.5% of the transaction amount: Applicable on all SBI credit cards, except ELITE and Aurum

Note: SBI Aurum credit card is an invite-only super premium card which is offered to only a few selected customers.

In case you do not pay even the minimum credit card bill amount by the due date, SBI Card charges you with a late payment fee based on the outstanding balance amount as described below:

Note: Apart from the above-mentioned charges, SBI Card levies an additional fee Rs. 100 if you miss paying the minimum amount due by the due date for two continuous billing cycles. This fee is charged on every cycle until you clear the minimum amount due.

Whenever you transfer your outstanding bill amount of any of your other credit cards to your SBI credit card, a processing fee called the SBI credit card balance transfer fee is charged. After the balance transfer, you can either pay the balance in lump-sum or as EMIs. Depending on the EMI tenure you choose, the following charges are applicable:

At times, SBI Card may allow credit card overlimit transactions based on whether your transaction and customer profile are eligible as per the internal policies or not. An overlimit fee of Rs. 600 or 2.5% of the first transaction amount that exceeds your credit limit, whichever is higher, is levied. This fee is also charged if your credit limit is exceeded by other applicable SBI credit card fees, charges or interest.

Will finance charges be applicable if the bill is paid in full?
No, finance charges are applicable only in case of non-payment of bills or cash withdrawals.

What is Minimum Amount Due (MAD)?
This is the minimum amount that customer must pay in order to avoid paying late fee charges or getting the card blocked. It is usually 5% of the outstanding amount+ taxes (if any) + Active EMIs + Fees and Penalties (if any).

What will happen if I over-utilize the limit on my SBI credit card?
If you spend more than the credit limit then you will incur over-limit charges or get the card blocked. To unblock your credit card, pay off bit more than the amount going over the limit.

What should I do if I lose my credit card?
If you lose your SBI credit card then call the SBI card customer care centre to block it. The toll-free numbers are 1860 180 1290 and 1800 180 1290.

Are there any hidden SBI credit card charges?
Card issuers declare all applicable charges in the Most Important Terms & Conditions (MITC) Document. Customers must read SBI MITC Document thoroughly to understand the charges on their SBI Credit Card.