SBI hikes annual maintenance charges on debit cards

The State Bank of India (SBI) has increased by Rs 75 the annual maintenance charges for various categories of debit cards, and these will come into effect from April 1.

A new set of revised charges on Classic, Silver, Global, Contactless and other categories of cards have put up on the bank’s website. The charges have been raised by Rs 75 for Yuva, Gold, Combo and Platinum Debit Cards. In addition, the public lender will also change the fees related to the issuance and replacement of debit cards.

The SBI also said that the accrual of reward points on rent payment transactions would be suspended for certain credit cards from April 1. Further, the accumulated reward points on rent payment transactions for some credit cards will expire on April 15.

The SBI has announced changes in issuance fees and other service charges for debit card holders. SBI account holders will have to pay a minimum of Rs 300 for applying for a Platinum Debit card. There will be no charges for the issuance of Classic, Silver, Global and Contactless Debit Cards.

The SBI account holders are also required to pay Rs 25 along with GST for enquiry at ATMs under international transaction charges. Other international transaction charges include a minimum of Rs 100 and 3.5 per cent of the transaction amount for ATM cash withdrawals.