SBI annual maintenance charges- State Bank of India (SBI) has revised the Annual Maintenance Charges (AMC) related to some debit cards which has come into effect as per the SBI website. AMC is an annual charge levied by banks on debit cards as an ATM service charge. The fee is decided by the bank and the cardholder has to pay it every year. Read the full news...
Mumbai: The State Bank of India (SBI) has revised the annual maintenance charges related to some debit cards which has come into effect as per the SBI website. According to the information available on the SBI website, the existing annual maintenance fee for Classic, Silver, Global and Contactless Debit Cards has been revised with effect from April 1. Meanwhile, charges for Yuva, Gold, and Combo debit cards will also be increased. The annual maintenance fee of the Platinum Debit Card has also been increased.
What are the revised SBI debit card charges?
- The annual maintenance charge has been increased for debit cards including Classic, Silver, Global, Contactless debit cards. The earlier Rs 125 has been increased to Rs 200 + GST.
- The annual maintenance charge of debit cards like Yuva, Gold, Combo Debit Card, My Card (Image Card) has also increased as it has been increased from Rs 175 + GST to Rs 250 + GST.
- For SBI Platinum Debit Card, Annual Maintenance is now Rs 325+ GST. The current charges were Rs 250 + GST.
- Annual maintenance charges for Pride Premium Business Debit Cards like SBI Debit Cards increased to Rs 425 + GST. Earlier it was Rs 350 + GST.
What is AMC?
The Annual Maintenance Charge (AMC) applicable on debit cards may vary from card issuer to card issuer and is determined by the type of ATM card used. A predetermined amount is automatically deducted from the cardholder's account by the bank. This fee is waived by most banks during the first year after the card is issued and the fee starts in the second year.
AMC for Debit Card
AMC is determined based on the type of ATM card you hold. Banks like HDFC Bank, Axis Bank, SBI and Punjab National Bank usually charge an AMC of Rs 100 to Rs 150 for the Classic card, which has been increased from April 1.
At the same time, Indian Bank charges an AMC of Rs 60 in rural and suburban areas, while in metropolitan and urban areas they charge Rs 120. ICICI Bank does not charge any AMC on debit cards except the Coral Debit Card which comes with an AMC equal to Rs 499 (initiation fee).
