SBI Card Holders Alert: There are going to be changes related to the credit card of State Bank of India from Tuesday, July 15. The implementation of the new rule may put more burden on the pockets of credit card holders, let’s know how?
SBI Card Holders Alert: The country’s famous government bank, State Bank of India, has decided to implement a new rule, after which credit card holders will have to pay more. So pay your credit card bill before 15th July. Later you may have to pay more minimum amount due (MAD). Apart from this, the new rules also include other things about which all SBI credit card holders should know.
What is included in the new rule?
- New calculation in minimum amount due
- Changes in payment settlement
- Air accident insurance ends
Pay your credit card bill before 15th July
Most credit card holders get their credit card bills generated on the 2nd of every month. This time, when you receive your credit card bill on 2nd July, pay it immediately. In such a case, you will have to pay the minimum amount due just like the previous month, but if you pay your credit card bill after 15th July, you may have to pay more money because new rules of SBI may be applicable.
Change in credit card rules of SBI Card
Actually, from July 15, 2025, there will be a change in the rules of SBI credit card, under which the minimum amount due of the bill will have to be paid more. According to the official website of SBI Card, 2 percent of the outstanding amount, 100 percent GST amount, EMI balance, 100% fees, overlimit amount and 100% finance charges will be included in the minimum amount due.
What is the minimum amount due?
When you pay your credit card bill, you will be shown two options. The first option is minimum amount due and the second option is maximum amount due. Under minimum, you can pay the minimum amount which will be shown there. Whereas, maximum is your last amount which has been generated in full on the bill.
To avoid late payment, minimum amount due is paid which is 2% or 5% of the total outstanding amount. However, even after this, if the entire bill is not paid on time, the interest on it keeps increasing.
These changes also include
From July 15, the rules are also changing for SBI premium credit card holders. The benefit of free air accident insurance that comes with the card will stop. The benefits of all the facilities included in these will not be available after July 15.
Changes in payment settlement
Changes will also be made in payment settlement, which may affect credit card payments. EMI, GST, charges, amount fees, finance charges, balance transfer, advance and retail cost etc. will be included.
