Latest SBI Debit Card Charges

The State Bank of India (SBI), one of the country’s largest public sector banks, has announced a revision in the annual maintenance charges for its debit cards. The new charges will come into effect from April 1, 2024. In this article we will discuss about the Latest SBI Debit Card Charges

Revised SBI Debit Card Charges

The revised annual maintenance charges are as follows:

• Classic Debit Cards: The annual maintenance charge for Classic Debit Cards, including Classic, Silver, Global, and Contactless Debit Cards, has been increased to Rs. 200 + GST. The existing charge is Rs.125 + GST.
• Yuva and Other Cards: For cards such as Yuva, Gold, Combo Debit Card, My Card (Image Card), the annual maintenance charge has been hiked to Rs. 250 + GST from the current Rs.175 + GST.
• Platinum Debit Card: The annual maintenance charge for the Platinum Debit Card has been increased to Rs. 325 + GST from the existing Rs. 250 + GST.
• Premium Business Debit Card: For cards like the Pride Premium Business Debit Card, the annual maintenance charges have been increased to Rs. 425 + GST from the current Rs.350 + GST.

Please note that GST is applicable at 18%.

List of other SBI Debit Card Charges

Here are some other charges related to SBI Debit Cards:

1. Debit Card Issuance Charges:
   • Classic/Silver/Global/Contactless Debit Card: Nil
   • Gold Debit Card: ₹100 + GST
   • Platinum Debit Card: ₹300 + GST
   • My Card (Image Card): ₹250 + GST
2. Debit Card Replacement Charges: ₹300 + GST
3. Duplicate PIN/Regeneration of PIN: ₹50 + GST
4. International Transaction Charges:
   • Balance enquiry at ATMs: ₹25 + GST
   • ATM Cash withdrawal transactions: ₹100 minimum + 3.5% of Transaction Amount + GST
   • Point of Sale (PoS)/eCommerce transactions: 3% of transaction amount + GST
5. Domestic Transaction Charges (At ATM):
   • Once the free transaction limit is exceeded, SBI charges ₹20 per financial transaction and ₹8 per non-financial transaction at other bank ATMs.
   • Additional Charges: SBI imposes a fee of ₹20 per declined transaction due to insufficient balance.
6. SMS Alert charges per quarter from Debit Card holders who maintain average quarterly balance of ₹25000 & below during the quarter: ₹12 (including GST).

Please note that GST is applicable at 18%

Exemptions and Queries

As of now, there is no specific information available about exemptions from these charges. Banks often provide exemptions for certain categories of customers like senior citizens, students, or those maintaining a certain minimum balance. However, the terms and conditions for such exemptions vary and are subject to change.

For customers wondering if maintaining a higher balance could lead to an exemption from these charges, it is recommended to check with SBI directly or visit their official website for the most accurate and up-to-date information.

How to avoid SBI Debit Card Charges

While it may not be possible to avoid all charges related to SBI Debit Cards, there are a few strategies that might help minimize them:

1. Use SBI ATMs: Using only network ATMs is an effective way to avoid ATM charges. Avoid using other banks’ ATMs.
2. Optimize Free Transactions: Try saving your free transactions for cash withdrawals.
3. Online Transactions: Pay your utility bills online and swipe your debit cards while shopping to avoid ATM transactions.
4. Choose the Right Card: Another way to reduce SBI charges is to compare the charges of different types of accounts and services and choose the ones that suit your needs and budget. For example, if you do not use your debit card frequently, you can opt for a Classic card instead of a Platinum card and save on the Annual Maintenance Charge (AMC).

Please note that these strategies might not eliminate all charges, and the actual savings will depend on your specific usage patterns and the bank’s policies.

The revision in the annual maintenance charges by SBI is a significant update for its customers. It is crucial for customers to be aware of these changes to manage their finances effectively.