SBI to revise debit card annual maintenance fee from April 1

The new SBI debit card charges will come into effect from April 1.

State Bank of India (SBI) has announced an increase in annual maintenance charges for certain categories of debit cards.The new rates will take effect on April 1, the first day of the new fiscal year, according to a press release Published on SBI website. The website further stated that the new charges will be applicable on Classic/Silver/Global, Yuva/Gold, Platinum and Pride/Premium business debit card categories. The bank has listed the new charges in tabular form for the convenience of customers.

The website shows that the annual maintenance charges have been increased by Rs 75 across various categories.

Annual fee revision mentioned on SBI website

The public lender also mentioned other fees associated with debit cards. These include the issuance and replacement of debit cards.

Card issuance charges vary depending on the card type and range from zero issuance fee for Classic, Silver, Global and Contactless Debit Cards to Rs 300 plus GST for Platinum Debit Card.

As mentioned on the SBI website, customers will also have to pay fees for services like debit card replacement (Rs 300 plus GST), duplicate PIN/regenerate PIN (Rs 50 plus GST) and international transactions.

The bank mentioned that all fees are subject to 18% Goods and Services Tax.

The bank announced changes in February to its minimum daily statement calculation process for its credit cards. The change came into effect on March 15 and the bank informed all customers of the change via email.

on its websiteThe bank also said that starting April 1, 2024, some credit cards will stop accruing rental bonus points.

SBI is the second largest credit card issuer in the country with a user base of over 18 million credit cards.