Bad news for SBI customers as India’s largest bank to change these rules from July 15…, to impact…

As per new rules, now the minimum amount due will include 100 percent of GST amount, EMI balance, fees, finance charges, overlimit amount.

SBI Credit Card Announcement: India’s largest public sector bank – State Bank of India – has made several changes to its credit cards that are going to affect SBI credit card users. The changes in rules will come into effect from July 15. One of the biggest changes includes the minimum amount due on the credit card bill. Check the changes below.

Accident Insurance Benefits To End

As per new rules, now the minimum amount due will include 100 percent of the GST amount, EMI balance, fees, finance charges, and overlimit amount.

According to SBI’s official website, the complimentary aeroplane accident cover of Rs 1 crore, which was given on premium cards such as like SBI Card ELITE, SBI Card Miles ELITE and SBI Card Miles Prime, will be discontinued from July 15.

Similarly, the free insurance cover of up to Rs 50 lakh given on SBI Card PRIME and SBI Card PULSE is also going to be discontinued.

These things will be included in MAD

As per new guidelines of SBI credit cards, these things will now be included in MAD from July 15th.

• 100 percent GST
• 100 percent EMI
• 100 percent Finance charges and other charges
• Overlimit amount
• 2 percent of outstanding amount