SBI Debit Card charges set to increase from April 1, 2024

New Delhi :

State Bank of India (SBI) has taken its customers by surprise with a recent announcement. Starting April 1, 2024, the bank will be revising the annual maintenance charges for several of its debit card offerings.

Revised Maintenance Charges

Previously, customers paid an annual fee of Rs 75 for debit card maintenance.

However, SBI has decided to increase these charges across most of its debit card variants. The new rates will come into effect from April 1, 2024.

Understanding the Charges

The issuance charges for SBI debit cards vary depending on the type of card.

Ranging from no charges for Classic, Silver, Global, and Contactless Debit Cards to Rs 300 plus GST for Platinum Debit Cards, customers will now need to be mindful of the revised fee structure.

Additional Service Charges

In addition to the maintenance charges, customers will now incur fees for various services such as card reissuance, PIN resetting, and international transactions.

These charges include Rs 300 plus GST for card reissuance, Rs 50 plus GST for PIN resetting, and varying fees for international transactions.

International Transaction Fees

For international transactions, customers will now face charges such as Rs 25 plus GST for checking balance at ATMs,

a minimum of Rs 100 plus 3.5% of the transaction amount for ATM cash withdrawals, and 3% of the transaction amount plus GST for Point of Sale transactions.

Impact of Revised Charges

With the revised charges coming into effect, customers will need to be aware of the changes in their debit card expenses.

Here’s a breakdown of the revised charges for different debit card categories:

With these changes, SBI customers must stay informed about the revised fee structure to manage their finances effectively.