Bank Rule Change: Big news for SBI Credit Card holders! SBI Bank is going to change these rules for its customers from July 15
SBI Credit Card Rule Change: Many rules are going to change for SBI credit card holders from next month i.e. July 15, 2025. These include minimum amount due on outstanding bills to air accident cover available on premium cards.
Bank Rule Change: If you use the credit card of SBI Card, a subsidiary of State Bank of India, then this news is special for you. Actually, many big changes are going to happen for credit card users (Credit Card Rule Change) and the date of July 15 has been fixed for this. These changes include minimum amount due (MAD) of the monthly bill to complimentary insurance cover.
Now you will have to pay more minimum amount!
SBI Card has announced many changes for its credit card users and its information has also been made available on the website. The biggest of the changes related to this can be implemented from July 15, 2025 next month is related to the minimum amount due on the credit card bill.
As per the new rules of SBI Card, now along with 2% of the total outstanding bill amount, 100% of GST amount, EMI balance, fees, finance charges, overlimit amount (if any) will also be included in the minimum amount due.
New formula for minimum amount due (as per SBI Card website)
It is important to know here what is the minimum amount due of a credit card, so let us tell you that this is the part of your outstanding bill, which you definitely pay every month. So that late payment can be avoided. It is usually 2% or 5% of your total outstanding amount. But keep in mind that this is just a way to avoid default, because even after paying it, interest is charged on you, in such a situation it is important to pay the outstanding credit card bill on time every month.
Air accident insurance cover ends
With the change in the minimum amount due rule of SBI credit card, the complimentary air accident cover available with SBI credit card will be discontinued for SBI Card Elite, SBI Card Miles Elite and SBI Card Miles Prime users from July 15. The free insurance cover of up to Rs 1 crore to the cardholders from the company will be discontinued. It is worth noting that State Bank of India provides this facility to its premium credit card holders. This cover is up to Rs 50 lakh on SBI Card Prime and SBI Card Pulse, which will also be discontinued.
The post Bank Rule Change: Big news for SBI Credit Card holders! SBI Bank is going to change these rules for its customers from July 15 first appeared on informalnewz.
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