SBI Card has informed the following consideration on the Fee and Charges regarding Overdue Finance Charge and Statement Retrieval Fee w.e.f. 01 Aug 2022 and 01 Sep 2022 respectively.
Overdue Finance Charge will discontinue
Effective from 01 Aug 2022, SBI Card will discontinue the ‘Overdue Finance Charge‘.
What is Overdue Finance Charge?
The charges SBI will levy only if the Minimum Amount Due is not paid by the Payment Due Date twice in a 12-month period.
Currently, under this charge, the original Finance Charge of 3.5% per month (42% p.a.) is revised to 3.65% per month (43.8% p.a.)
When the Minimum Amount Due or more is paid by the due date at least 11 times in the next 12 months, the interest rate charged will be revised back to the original rate applicable.
Statement Retrieval Fee will not levy
Effective from 01 Sep 2022, Statement Retrieval Fee will not be levied on statement regeneration requests.
What is Statement Retrieval Fee?
The Fee SBI will levy on statement regeneration requests made through the Helpline/SBI Branch for regeneration of statements that are more than 2 months old. Currently, SBI Card charges Rs. 100 on statement regeneration requests in the name of Statement Retrieval Fee.
SBI Service-Related Queries
In case of any SBI service-related support, reach out to us at 1860 180 1290 or 39020202 (prefix local STD code).
