Mumbai: The largest public sector bank in the country, State Bank of India (SBI) has hiked certain charges for its credit card users. The new charges will come into effect from November 15.
SBI has revised charges on EMI transactions and it has levied a new charge on rent payments using credit cards. The processing fee on merchant EMI transactions has been revised to Rs 199 + applicable taxes. At present, it is at rs Rs 99 + applicable taxes. Processing fee on rent payment transactions will be Rs 99 + applicable taxes.
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With this, the SBI have become the second bank to levy a processing fee on rent payments using credit cards. Earlier, the ICICI Bank had said that it would charge its credit card holders a one per cent fee towards rent payments with effect from October 20.
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