The credit card service charge for this bank has been increased to certain rates. This will come into force from the below-mentioned dates. Check the increased rates and the customer’s points of spending.
The State Bank of India (SBI), India’s public multinational banking and finance company runs a Cards service under the name of SBI Cards & payments Service limited. The SBI cards and payment services have increased the credit card service charges from 17.03.2023. The SBI cards customers who were paying rent via credit card will have to pay the service charge of Rs. 199 plus applicable charges.
The news is announced by the SBI cards to their customers through Email and SMS. From 17th march 2023, this new service charge will come into force. The previous service charge for the credit card rent payment is Rs. 99 plus 18% of GST. According to the report, from Jan-6, 2023 the SBI cards have made several changes to their simplyCLICK cards.
The other bank has also imposed service charges to the rent payment through credit cards. ICICI bank has been charging 1% of the total amount for processing fees to customers paying rent through credit cards. HDFC charges 1% for the processing fees starting from the second rental transaction in a month. BOB also charges one percent of charges for all rent transactions through credit cards.