SBI Credit Card Fees & Charges

SBI credit cards are one of the most popular cards in the country. They enable you to shop online, pay bills, book tickets and more, while adding value through rewards. Remember that just like any other credit card, you have to note the specific SBI credit card charges. 

 

Hence, it is crucial to learn about the SBI credit card annual fees and similar additional charges before choosing a credit card.

The charges associated with SBI credit cards vary according to the credit card type. Before you apply for a credit card online, know about the different types of SBI credit card charges and fees you may incur.

 

• SBI Credit Card Annual and Renewal Fees

Most credit cards offered by SBI come with an annual charge, which is a one-time fee you must pay for owning the SBI credit card. However, SBI offers three credit card variants – OLA Money SBI Card, SBI Card Unnati, and Krishak Unnati SBI Card that do not charge any annual fee. Furthermore, the SBI credit card annual fees can range from ₹250 (Shaurya SBI Card) to ₹9,999 (AURUM).

 

You must also pay a renewal fee every year. This fee may be waived if you spend a certain amount in the previous year, as specified in the terms and conditions. Thus, you must carefully review the annual and renewal fees before applying for a credit card.

 

• SBI Credit Card Late Payment Charges

You will be charged late payment fees if you fail to pay the Minimum Amount Due on your SBI credit card before the payment due date.

 

Here’s a breakup of the late payment charges:

 

• If the outstanding amount is less than ₹500 - Nil

• If the outstanding amount is between ₹500 and ₹1,000 - ₹400

• If the outstanding amount is between ₹1,000 and ₹10,000 - ₹750

• If the outstanding amount is between ₹10,000 and ₹25,000 - ₹950

• If the outstanding amount is between ₹25,000 and ₹50,000 - ₹1,100

• If the outstanding amount is greater than ₹50,000 - ₹1,300

If you fail to pay the Minimum Amount Due by the due date for two consecutive cycles, a late payment fee of ₹100 will be charged. You will be charged the late payment fee for every payment cycle until the Minimum Amount Due is cleared.

 

• SBI Credit Card Over-Limit Charges

Subject to internal policy and customer eligibility, SBI may approve overlimit transactions as a service gesture. However, over-limit charges are levied when you exceed the credit limit of your SBI credit card. According to the internal policy, SBI charges an over-limit fee equal to 2.5% of the total over-limit amount or ₹600, whichever is higher.

 

• SBI Credit Card Finance Charges

Credit card finance charges are levied on all transactions, including unpaid EMIs, cash advances, and the outstanding amount. The current finance charge for SBI credit cards stands at 3.50% per month (42% per annum). However, this rate is subject to change at SBICPSL’s discretion.

 

• SBI Credit Card Cash Advance Fees

During emergencies, you can withdraw cash from domestic or international ATMs. However, you may have to pay a transaction fee of ₹500 or 2.5% of the withdrawn amount, whichever is higher.

 

• SBI Credit Card Cash Payment Fees

You can clear your monthly dues by paying cash at select SBI branches. Simply mention your credit card number and the amount you wish to deposit in your pay-in slip. However, you may have to pay ₹250 as service fees and applicable taxes when availing this facility.

 

Apart from the mentioned SBI credit card charges, here is a quick glimpse of additional SBI credit card fees.

 

• ₹100 as a cheque payment fee

• ₹100 to ₹250 for replacing your credit card

• ₹99 as a fee collected towards redeeming SBI credit card rewards

• 3.5% as the foreign currency transaction fee