Debit Cards Annual Maintenance Charges: Know Why SBI hikes Debit Cards Annual Maintenance Charges from 1st April 2024

Debit Cards Annual Maintenance Charges: The State Bank of India (SBI) has changed the annual maintenance fee for certain debit cards. The new planned rates will be implemented on April 1, 2024, according to the SBI website.

Here are the updated annual maintenance charges, which go into effect on April 1.

SBI Revised these Debit Card Charges:

Classic Debit Cards

The annual maintenance fee for Classic, Silver, Global, and Contactless Debit Cards has been increased to Rs.200 + GST from Rs.125 + GST.

Platinum Debit Cards

The annual maintenance fee for the SBI Platinum debit card has been increased from Rs. 250 to Rs. 325 plus GST.

Yuva and Other Cards

The annual maintenance for debit cards such as Yuva, Gold, Combo Debit Card, and My Card (Image Card) has been increased from Rs.175 to Rs.250 + GST.

Premium Business Debit Cards

The yearly maintenance charges for SBI debit cards, such as the Pride Premium Business Debit Card, have been hiked from Rs. 350 + GST to Rs. 425 + GST.

Note: GST is applied at 18%.

Other fees include debit card issues and replacement charges, among others.

SBI Card also made Certain Improvements to its Credit Cards

SBI Card has announced that the accrual of reward points on rent payment transactions will be discontinued for certain credit cards starting April 1, 2024. Furthermore, the accrual of reward points on rent payment transactions for some credit cards will end on April 15, 2024.

Axis Bank updates Debit Card Benefits

Axis Bank has changed the rules for accessing airport lounges with its Burgundy, Delight, Priority, and other debit cards. Furthermore, the bank has altered BookMyShow offers, reward point criteria (EDGE rewards) and a feature dedicated to overseas debit card usage.

Axis Bank sent an email to customers on March 21, 2024, informing them of changes to their debit card and/or account features starting May 1, 2024.