SBI debit card charges from April 1, 2024: State Bank of India (SBI), the country's largest lender, is all set to hike an annual debit card fee that it charges from its customers by Rs 75 (excluding GST) soon. 

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With effect from April 1, 2024, the first day of the financial year 2024-25, SBI will raise the annual maintenance fee applicable to its Classic, Silver, and Global cards to Rs 200 (excluding GST) each from the current Rs 125 (excluding GST), according to its website, sbi.co.in. Similarly, it will start charging an annual fee of Rs 250 plus GST for its Yuva, Gold, Combo, and My Card (Image Card) debit cards from April 1, instead of Rs 175 plus GST.     

SBI debit card annual maintenance charges  

Card  Existing charges Revised charges
With effect from April 1, 2024
Classic /Silver/Global/Contactless Debit Cards. Rs.125/ +GST Rs. 200/ + GST
Yuva/Gold/Combo Debit Card/My Card (Image Card) Rs.175/ + GST Rs. 250/+ GST
Platinum Debit Card Rs. 250/ +GST Rs. 325/+ GST
Pride / Premium Business Debit Card Rs.350/ +GST

Rs. 425/+ GST

 

Source: sbi.co.in

When are SBI debit card maintenance charges levied?

The charges are "recovered at the beginning of the second year onwards", according to the SBI website. 

SBI debit card charges for issuance, replacement, PIN generation

Category Card Charges
Debit Card Issuance Charges Classic/Silver/Global/Contactless Debit Card Nil
Gold Debit Card Rs 100 + plus GS
Platinum Debit Card Rs 300 + plus GST
My Card (Image Card)  
Debit Card Annual Maintenance Charges (Recovered at the beginning of the second year onwards) Classic Debit Card Rs 125 plus GST
Silver/Global Contactless Debit Card Rs 125 plus GST
Yuva / Gold /Combo / My Card (Image) Debit Card Rs 175 plus GST
Platinum Debit Car Rs 250 plus GST
Pride/Premium Business Debit Card Rs 350 plus GST
Debit Card Replacement Charges Rs 300 plus GST
Duplicate PIN/ Regeneration of PIN Rs 50 plus GST

Source: sbi.co.in

SBI debit card charges for international transactions

Category Task Charges
International Transaction Charges Balance inquiry at ATMs Rs 25 + GST
ATM Cash withdrawal transactions Rs 100 min + 3.5 per cent of the transaction amount + GST
Point of Sale(PoS)/ eCommerce transactions 3 per cent of the transaction amount plus GST

 

What is the GST rate applicable to SBI debit card charges?

The GST rate of 18 per cent is applicable to the charges, wherever mentioned, according to SBI. 

What are debit card maintenance charges?

There are certain charges associated with owning and using a debit card. The annual maintenance fee is one such charge.

It is the fee that a bank or financial institution may levy on an account holder for the maintenance and upkeep of their debit card. These charges are usually deducted from the account balance at regular intervals, often on a monthly or annual basis. The purpose of these charges is to cover the costs incurred by the bank in providing and servicing the debit card.