New charges will be effectiv April 1, 2024.
BBN Bureau
Mumbai: The largest public sector lender, State Bank of India (SBI), has announced hikes in the annual maintenance charges for certain debit cards, effective April 1, 2024.
The revised annual maintenance charges are as follows:
- Classic Debit Cards: For cards including Classic, Silver, Global, and Contactless Debit Cards, the annual maintenance fee has been increased to Rs. 200 plus GST from the previous Rs. 125 plus GST.
- Yuva and Other Cards: Debit cards such as Yuva, Gold, Combat Debit Card, and My Card (Image Card) will now incur an annual maintenance fee of Rs. 250 plus GST, up from the existing Rs. 175 plus GST.
- Platinum Debit Card: The annual maintenance charge for SBI Platinum debit cards has been raised to Rs. 325 plus GST from Rs. 250 plus GST.
- Premium Business Debit Card: SBI debit cards, including the Premium Business Debit Card, will now have an annual maintenance fee of Rs. 425 plus GST, up from Rs. 350 plus GST.
SBI has also announced the suspension of reward points accrual on rent payment transactions for certain credit cards from April 1, 2024. Additionally, the accumulation of reward points on rent payment transactions for some credit cards will expire on April 15, 2024.
Axis Bank
In a similar move, Axis Bank has revised the benefits of its debit cards. Changes include modifications to airport lounge access for Burgundy, Delight, Priority, and other debit cards. The bank has also updated offers related to BookMyShow, reward point rules (EDGE reward), and specific features related to international usage of its debit cards.
