SBI Bank to Charge Processing Fee Plus Taxes on all Credit Card EMI Transactions

SBI Bank is going to charge more from customers who are using credit cards to pay EMIs.

Highlights

  • SBI Bank has introduced a new rule for credit card customers going with EMI transactions.
  • SBI has said that it will be charging a processing fee in addition to taxes on all the credit card EMI transactions.
  • Be it retail outlets or e-commerce stores, the customer will have to pay extra Rs 99 as processing fee and a tax on that.

Web Stories

SBI Bank

The State Bank of India (SBI) has said that it will be charging a processing fee in addition to taxes on all the credit card EMI transactions. According to a DNAIndia report, this rule will come into effect from December 1, 2021. Be it retail outlets or e-commerce stores, the customer will have to pay extra Rs 99 as a processing fee and a tax on that as well. This will be added to the overall cost of the product so the customer will have to pay more.

The government-owned bank sent an e-mail to the customers regarding the same which read, “Dear Cardholder, We would like to inform you that with effect from 01 Dec 2021, Processing Fee of Rs. 99 + applicable taxes will be levied on all Merchant EMI transactions done at Merchant outlet/website/app. We thank you for your continued patronage. Please click here to know more about Merchant EMI Processing Fee."

Reported By

Editor-in-Chief

Tanay hails from Bilaspur, Chattisgarh and is a sports and fitness enthusiast. Reading and writing is something which comes to him out of love for the web of magic that words can create.

Recent Comments

Tech News

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments