look news india
Credit Card Rules: There are many festivals in the month of October, including the great festival of Dussehra and Diwali. During the festive season, companies give huge discounts on their products and people also make huge purchases. During this period, most banks give special offers on their credit cards. But State Bank of India has increased the charges on some of its SBI credit cards amid the festive season, which includes utility bill payments and finance charges. In such a situation, before using SBI credit card, definitely know the revised rules.
utility bill payment fee
If the total utility payment amount during the billing period exceeds Rs 50,000, a charge of 1 percent will have to be paid. This change on utility bill payments will be effective from December 1, 2024. Let us tell you that utility bill payment includes telephone, mobile, electricity bill and insurance premium.
finance charges
SBICard has reduced finance charges on all unsecured credit cards to 3.75% per month. Note that this rule does not apply to solar and defense. The revised rules will be effective after Diwali i.e. from 1 November 2024.
These cards will no longer be issued
Let us tell you that SBI Card has stopped issuing Club Vistara SBI Credit Card and SBI Credit Card Prime from 28 September 2024. As per RBI guidelines, nominee registration has been made mandatory for credit card insurance. You can use the SBI Card app or website to update or add nominee details to the air accident or personal accident insurance policy.