SBI Credit Card: Know When You Have to Pay the Charge & How to Use it Wisely

In midst of the nationwide lockdown, the country's largest bank, the State Bank of India, issues a variety of credit cards to help the needy people and customers to beat the crisis. Many types of discounts and cashback offers are also given to customers on credit cards from the bank amid the 4.0 lockdown. But the bank also charges some charges (SBI Credit Card charges) from its customers against the use of these credit cards. As per reports, the SBI customers have to pay these charges for the credit card related rules and services. 

Annual Charge and Renewal Charge 

As per the official, both the annual charge and renewal charge (renewal fee) has to be paid on the SBI Credit Card. The annual charge has to be paid once, while renewal charge has to be paid every year. According to SBI's credit card website https://www.sbicard.com/, if the credit cards are in different variants, then the charges for this can also be different. On behalf of the bank, this charge is taken directly from the cardholder's account, whose information is given in that month's statement. 

Gets the Facility of Withdrawal in case of Need of Cash in An Emergency 

The cardholder gets the facility of withdrawal in case of need of cash in an emergency. SBI levies a charge on withdrawals in lieu of this facility. If the cardholder withdraws in India or abroad, a charge has to be paid instead. 

Cash payment charge 

SBI credit cardholders have the freedom to choose any branch for outstanding payments 

Here he can pay the arrears of the card where he has to give information about the credit card number and amount in the slip. It is paid by depositing it at the bank counter. A payment receipt is given immediately after bill payment. SBI also charges you against this facility. 

Interest-Free Grace Period 

Interest-free grace period for shopkeepers or traders can be of 20 to 50 days. However, this is possible only when the previous dues have been paid at all. If you have withdrawn cash from ATM, then it is not a relief. If you have passed the due date, then you will have to pay the charge. 

Will charge if you don’t pay before the deadline 

If the payment of arrears of all transactions including the monthly instalment (EMI) is not made from the date of the transaction till the last date, then you have to pay the interest for the entire month. If the cardholder has not paid in full before the date, that is, he has given a small amount, then you still have to pay the charge.