In a recent update, the State Bank of India (SBI) has revealed that it will be increasing the annual maintenance charges for select debit cards by Rs 75. The changes will come into effect from April 1, 2024, as mentioned on the official SBI website.
Here are the top cards and the changes:
Classic debit cards
The SBI Card has increased the annual maintenance fee for Classic, Silver, Global, Contactless Debit Cards to Rs 200 + GST from the existing Rs 125 + GST.
For debit cards such as Yuva, Gold, Combo Debit Card, My Card (Image Card), the annual maintenance is hiked to Rs. 250 + GST from the current charges of Rs.175 + GST.
For SBI Platinum debit card, the annual maintenance is hiked to Rs. 325 + GST from the existing Rs. 250 +GST.
For SBI debit cards, such as Pride Premium Business Debit Card, the annual maintannce charges has been increased to Rs 425+ GST from Rs 350 +GST.
| Cards | Existing Charges | New charges from April 1, 2024 |
| Classic /Silver/Global/Contactless Debit Cards | Rs 125/ +GST | Rs 200/ + GST |
| Yuva/Gold/Combo Debit Card/My Card (Image Card) | Rs 175/ + GST | Rs 250/+ GST |
| Platinum Debit Card | Rs 250/ +GST | Rs 325/+ GST |
| Pride/Premium Business Debit Card | Rs 350/ +GST | Rs 425/+ GST |
Alongside this adjustment, SBI Card has also made amendments to the reward points system for certain credit cards. Beginning from April 1, 2024, the accrual of reward points on rent payment transactions will be suspended for specific credit card holders.
Additionally, for certain credit cards, any accumulated reward points on rent payment transactions will expire on April 15, 2024. These updates have been made in an effort to enhance the services provided by SBI and ensure a more efficient and streamlined process for its customers.