Private sector lender YES Bank has announced changes to some fee-related rules for its credit card users. These new rules will come into effect from April 1.
The changes mainly affect utility bill payments and transportation-related expenses. The bank has increased the monthly spending limits, after which additional fees will be charged.
Even though the limits have been increased, the fee rate remains the same. A 1% charge plus applicable GST will continue to apply.
However, because of the higher limits, cardholders will now be able to spend more in these categories before extra charges are applied.
Utility Bill Payment
The bank has raised the monthly spending limit for utility bill payments, which include bills such as electricity, water, and gas.
If the total amount spent on these bills during a statement cycle goes above the specified limit, a 1% fee plus GST will be charged on the transaction amount. The maximum charge per transaction will be ₹5,000.
Under the new rules starting April 1:
For YES Private Credit Cards, the monthly limit has been increased to ₹1 lakh.
For Marquee, Reserve, and other premium cards, the limit will be ₹50,000.
For other YES Bank credit cards, the limit will be ₹25,000.
This means additional charges will apply only when utility bill payments exceed these limits. Earlier, the limits for these cards were lower.
Charges on Wallet Loading
The bank has also clarified the rules related to loading money into third-party digital wallets using a credit card.
If a user loads up to ₹2,000, no fee will be charged.
If the amount exceeds ₹2,000, a 1% fee plus GST will apply.
The maximum fee per transaction will be ₹5,000 in this category as well.
Toll and Bridge Transactions
Changes have also been made to toll and bridge payments. These transactions will now appear in credit card statements as “Transportation fee.”
The same rule applies here: if the total monthly spending exceeds the specified limit, a 1% fee plus GST will be charged.
From April 1:
The monthly limit for premium credit cards will be ₹75,000.
The limit for other credit cards will remain ₹50,000.
