In some cases, new regulations are available every month. Especially in the banking sector, these rules change a lot. That is why it is better for those who do a lot of bank transactions to be alert in advance. Follow the rules and procedures. Otherwise, there is a possibility of financial loss as well as time wastage. State Bank of India (SBI) has shocked its credit card customers.
It is known that a decision has been taken recently by making two changes related to the credit card. The existing processing fee on EMI transactions will be increased to Rs.199. It has also announced that it is going to collect charges on two new payments. The bank said that these regulations will come into effect from November 15. Also sending messages to its customers.
EMI processing fee increase
Bank will charge some amount if converted into EMI while buying any goods online or through other means. Currently charging Rs.99+GST. From November 15th, the processing fee will be Rs.199+GST. This means that SBI credit cardholders will charge this fee if they change any EMI. Moreover, no fees are charged on house rent payment transactions till now. From now on it will also be charged. Rs.99+GST will be charged. All these charges will be applicable from November 15 onwards.
Fees on Rent Payments:
Usually, we choose third-party apps like Paytm and other apps to make any payments. In the background of increasing technology, many people are using third-party apps more and more. This makes payments easier. These third-party apps allow people to make rent payments through credit cards. These third-party apps also charge a fee for making rent payments through credit cards. SBI has taken a key decision in these two aspects from November 15.