State Bank of India (SBI) has increased the prices for people paying their monthly rentals using credit card which was intimated through SMS and mail. An SMS from SBI read, “Dear Cardholder, charges on your credit card shall be revised/levied w.e.f. from 15 Nov ’22.”
According to a SMS that SBI sent to its customers, effective November 15, 2022 there will be charges that will be applicable or revised. While earlier the processing fee on merchant EMI transactions was Rs 99 plus taxes, it has now been revised to Rs 199 + applicable taxes. Also, processing fee on rent payment transactions will be Rs 99 + applicable taxes”.
Note that these revised charges will not be levied on credit card payments for rentals that have been made before November 15,2022. Last month- from October 20,2022, ICICI started charging 1% of the rent as processing fee for people using ICICI credit card for rental payments. SBI credit card status is tracked, State Bank of India credit card,
