The State Bank of India (SBI) has announced a revised charge structure for its credit card users, which will take effect from November 1, 2025.
Under the new rules, customers paying school or college fees through third-party apps such as CRED, Cheq, and MobiKwik will have to pay an extra 1% fee on the transaction amount.
However, no fee will be charged if the payment is made directly through the official school, college, or university website or through a POS machine at the institution.
New Rule for Wallet Load
SBI has also introduced a 1% fee on wallet loads exceeding ₹1,000. This applies to merchant codes defined by network partners and may change from time to time.
Previously, no fee was charged for transactions between ₹0 and ₹500, but higher amounts attracted charges.
Now, the rules have become stricter, adding extra costs for frequent wallet users. SBI has already informed cardholders so they can plan their spending accordingly.
Other Charges Remain the Same
Apart from these changes, most existing charges for SBI cardholders remain unchanged. These include:
Cash withdrawal fees
Cheque payment fees
Late payment fees
However, cardholders who fail to pay the minimum balance for two consecutive billing cycles will be charged an extra ₹100 per cycle.
Why the Change?
According to SBI, the new fee structure is aimed at ensuring greater control over digital payments and more transparency in transactions.
While it may increase costs for some users, the changes are expected to help cardholders manage their spending better, while also improving the bank’s ability to handle its finances.
