INSUBCONTINENT EXCLUSIVE:
There are annual fees and renewal fees applicable on the SBI credit cards.State Bank of India or SBI, the country's largest lender, offers
different variants of credit cards for customer's requirements
From discounts on movie tickets to various reward points, these cards offer variety of benefits with these cards
However, the bank also levies certain charges for the usage of credit cards
According to financial planners, the user must have a clear idea of the features, rewards and the charges payable in detail to make the most
Annual fee is a one-time charge and renewal fee is charged every year
These fees may vary from cardholder to cardholder, and for different card variants, according to SBI's credit card website - sbicard.com
These fees, as applicable, are directly charged to the cardholder's account and the same is billed in the card statement of the month in
A transaction fee is levied on all such withdrawals, according to SBI
This is billed to the cardholder in the next statement
A transaction fee of 2.5 per cent or Rs 300 whichever is higher (in case of domestic ATMs) and 3 per cent or Rs 300, whichever is higher (
in case of international ATMs) are levied
All cash advances also carry a finance charge equal to charges on revolving credit from the date of withdrawal until the date of full
payment, according to SBI.Cash payment feeThe cardholder can go to select SBI branches or SBI associate branches and pay card dues by
mentioning the credit card number and amount in the pay-in slip and depositing the same at the branch counter
This service is available at Rs 199 plus all applicable taxes.Interest free grace periodThe interest free credit period can range from 20 to
50 days, subject to submission of claims by the merchant
However, this is not applicable if the previous month's balance has not been cleared in full or if the cardholder has availed of cash from
any ATM.Finance charges (Service charges)Finance charges are payable at the monthly interest rate on all transactions including unpaid EMIs
(Equated Monthly Instalments) from the date of transaction in the event of the cardholder choosing not to pay his balance in full, and on
all cash advances taken by the cardholder, till they are paid back
If the cardholder makes partial or no payment of total amount due (TAD) before payment due date (PDD); i.e
the payment date, according to SBI.Late payment charges These are applicable if minimum amount due is not paid by the payment due
