Mumbai: The largest public sector bank in the country, State Bank of India (SBI) has increased the processing fee for some transactions. The lender hiked processing fee on credit card users for rent payment and Merchant EMI transactions. The new charges will come into effect from 15 November 2022.
‘W.e.f. 15 Nov 2022, Processing Fee on all Merchant EMI transactions will be revised to Rs.199 + applicable taxes from Rs.99 + applicable taxes. W.e.f. 15 Nov 2022, Processing Fee of Rs.99 + applicable taxes will be levied on all Rent Payment transactions,’ SBI said in a statement.
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Earlier in September, private sector lender ICICI Bank too had revised its charges on Credit Card towards rent payment.
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