Credit Card Charges: 1% additional charge will be levied on utility bill payments made through credit cards of this bank

SBI Credit Card: If you use credit card to pay utility bills like electricity, gas, water then you need to be careful. Actually, the country's largest bank State Bank of India (SBI) has given a big shock to its credit card users. Some changes have been made in the credit card rules by SBI Card. The new rules will come into effect from next month i.e. 1 November 2024.

The bank has decided to impose an additional charge of 1 percent on utility bill payments through credit cards. Even before this, many banks and card companies have started charging 1 percent on utility bill payments after a certain limit.

Yes Bank to impose surcharge on utility bill payments above Rs 50,000

An additional charge of 1% will be levied on utility bill payments above Rs 50,000 in a statement cycle through SBI Credit Card. However, no additional charges will be levied on utility bill payments below Rs 50,000.

Change in finance charges also

SBI has also changed the finance charges of all unsecured credit cards except Shaurya/Defense Credit Card. Now 3.75% finance charge will be levied on SBI unsecured credit cards. These rules will also be applicable from November 1, 2024. Let us tell you that unsecured credit cards are such credit cards for which no security deposit or collateral is required to be given, whereas secured credit cards are such credit cards which are given in exchange for fixed deposit (FD).