SBI Hikes Charges for Credit Card Holders: Increased Finance Fees & Utility Bill Payment Costs

State Bank of India (SBI) has announced increased credit card charges, which will impact its 19 million users.

From November 1, 2024, the finance charges for unsecured credit cards (cards issued without any collateral like FDs ) will rise to 3.75% per month.

A 1% fee shall be charged on utility bill payments exceeding ₹50,000 in a billing cycle from December 1, 2024.

SBI has decided to discontinue its co-branded Vistara cards from September 28, 2024. These changes will affect a large customer base of State Bank of India (SBI)

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