Latest news with #SBICardELITE
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Business Standard
5 days ago
- Business
- Business Standard
SBI Card to discontinue Rs 1 cr air insurance on these cards: Check list
SBI Card will on August 11 discontinue complimentary air accident insurance cover of up to Rs 1 crore for a wide range of co-branded credit cards. Earlier this month, the company withdrew air accident insurance benefits on SBI Card ELITE, SBI Card PRIME and other cards. Who is impacted? The new announcement will impact variants of ELITE and PRIME cards, which are offered in partnership with public and private sector banks. These complimentary covers were one of the major perks associated with premium card offerings. List of SBI cards losing Rs 1 crore insurance benefit: UCO Bank SBI Card ELITE Central Bank of India SBI Card ELITE PSB SBI Card ELITE Allahabad Bank SBI Card ELITE Karur Vysya Bank (KVB) SBI Card ELITE KVB SBI Signature Card List of SBI cards losing Rs 50 lakh insurance benefit: UCO Bank SBI Card PRIME Central Bank of India SBI Card PRIME PSB SBI Card PRIME KVB SBI Card PRIME KVB SBI Platinum Credit Card South Indian Bank SBI Card PRIME South Indian Bank SBI Platinum Credit Card Karnataka Bank SBI Card PRIME Karnataka Bank SBI Platinum Credit Card City Union Bank SBI Card PRIME Allahabad Bank SBI Card PRIME UBI SBI Platinum Credit Card OBC SBI Visa Platinum Card Federal Bank SBI Platinum Credit Card Bank of Maharashtra SBI Platinum Credit Card What has changed already Earlier in July, SBI Card air accident insurance cover from its own-branded cards, including: SBI Card ELITE SBI Card Miles ELITE SBI Card Miles PRIME SBI Card PRIME SBI Card Pulse The Rs 1 crore and Rs 50 lakh insurance covers were provided free of cost and did not require any separate application. Cardholders relying on this complimentary insurance should now consider buying a standalone travel or personal accident insurance policy if air travel risk coverage is important. It's also advisable to check your card's updated terms and conditions or speak to customer service to understand the full implications.
India.com
16-07-2025
- Business
- India.com
SBI Credit Card Rules Changed From 15 July 2025: All You Want To Know
photoDetails english 2932409 Updated:Jul 16, 2025, 07:57 AM IST SBI Cards Minimum Amount Due rule changes from 15 July 1 / 9 With effect from 15 July 2025, Minimum Amount Due (MAD) calculation will be as follows: 100% of GST + 100% of EMI amount + 100% of Fees/Charges + 100% of finance charges + Overlimit Amount (if any) + 2% of remaining balance outstanding. SBI Cards Order of Payment Settlement rule changes from 15 July 2 / 9 With effect from 15 July 2025, the Order of Payment Settlement will be as follows: Payment received against the Cardholder's outstanding will be adjusted against 100% of GST, 100% of EMI amount, 100% of Fees/Charges, 100% of Finance charges, Balance transfer, Retail Spends and Cash Advance, in that order. SBI Card Elite rule changes from 15 July 3 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 1 crore currently offered on your SBI Card Elite will be discontinued. SBI Card Miles Elite rule changes from 15 July 4 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 1 crore currently offered on your SBI Card Miles Elite will be discontinued. SBI Card Miles Prime rule changes from 15 July 5 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 1 crore currently offered on your SBI Card Miles Prime will be discontinued. SBI Card Prime rule changes from 15 July 6 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 50 lakhs currently offered on your SBI Card Prime will be discontinued. SBI Card Pulse rule changes from 15 July 7 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 50 lakhs currently offered on your SBI Card Pulse will be discontinued. SBI cards rule from August 8 / 9 Additionally, regarding change in SBI cards rule from August, the company said With effect from 11 August 2025, Complimentary Air Accident Insurance coverage of Rs 1 Cr. currently offered on your UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITE, PSB SBI Card ELITE, KVB SBI Card ELITE, KVB SBI Signature Card and Allahabad Bank SBI Card ELITE will be discontinued. SBI card rule changes With effect from 11 August 2025 9 / 9 With effect from 11 August 2025, Complimentary Air Accident Insurance coverage of Rs. 50 Lakh currently offered on your UCO Bank SBI Card PRIME, Central Bank of India SBI Card PRIME, PSB SBI Card PRIME, KVB SBI Card PRIME, Karur Vysya Bank SBI Platinum Credit Card, South Indian Bank SBI Card PRIME, South Indian Bank SBI Platinum Credit Card, Karnataka Bank SBI Card PRIME, Karnataka Bank SBI Platinum Credit Card, City Union Bank SBI Card PRIME, Allahabad Bank SBI Card PRIME, UBI SBI PLATINUM Credit Card, OBC SBI VISA PLATINUM Card, Federal Bank SBI Platinum Credit Card, BOM SBI PLATINUM Credit Card will be discontinued.
India Today
04-07-2025
- Business
- India Today
SBI credit card rules changing from July 15: Here's what cardholders must know
If you have an SBI credit card in your wallet, you must pay attention to this update. From July 15, 2025, some important rules related to SBI credit cards will change. These changes will affect how you pay your bills and the benefits you PAYMENT RULES WILL CHANGEAt present, many cardholders pay only a small part of their bill to avoid late charges. But now, the way the minimum amount due (MAD) is calculated will change. From July 15, your MAD will include 100% of GST, EMI amounts, charges, finance charges, any overlimit amount, and 2% of the remaining simple words, you will now have to pay a bigger minimum amount every month. If you don't pay this higher amount, your dues will increase quickly, and you may end up paying more YOUR PAYMENT WILL BE ADJUSTED The way your payments are settled will also change. From now on, whatever amount you pay will be adjusted first towards GST, then EMIs, then charges and interest, and lastly towards your main spending like retail shopping or cash if you have unpaid charges or finance charges, your payment will first clear those. If you only pay a part of the total, interest will keep adding up on your other MORE FREE AIR ACCIDENT COVERThere is another big change for customers who have enjoyed free air accident insurance on their cards. Many SBI credit cards used to offer free air accident insurance cover between Rs 50 lakh to Rs 1 crore. This benefit will stop August 11, complimentary air accident insurance will be discontinued on popular cards like UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITE, PSB SBI Card ELITE, KVB SBI Card ELITE, KVB SBI Signature Card and Allahabad Bank SBI Card free cover of Rs 50 lakh will be withdrawn from cards like UCO Bank SBI Card PRIME, Central Bank of India SBI Card PRIME, PSB SBI Card PRIME, South Indian Bank SBI Card PRIME, Karnataka Bank SBI Card PRIME and many SHOULD YOU DO NOW?If you have any of these cards, check your card's features and see if they still suit your needs. Since benefits like air accident cover are ending, you may want to think about upgrading, switching, or even closing your is wise to read the updated terms carefully and make sure you know how these changes can affect your payments and benefits. Staying aware will help you avoid extra charges and manage your money better.- Ends
India.com
04-07-2025
- Business
- India.com
SBI Credit Card Rules Changing From 15 July 2025: All You Want To Know
photoDetails english 2926313 Updated:Jul 04, 2025, 09:07 AM IST SBI Cards Minimum Amount Due rule changes from 15 July 1 / 9 With effect from 15 July 2025, Minimum Amount Due (MAD) calculation will be as follows: 100% of GST + 100% of EMI amount + 100% of Fees/Charges + 100% of finance charges + Overlimit Amount (if any) + 2% of remaining balance outstanding. SBI Cards Order of Payment Settlement rule changes from 15 July 2 / 9 With effect from 15 July 2025, the Order of Payment Settlement will be as follows: Payment received against the Cardholder's outstanding will be adjusted against 100% of GST, 100% of EMI amount, 100% of Fees/Charges, 100% of Finance charges, Balance transfer, Retail Spends and Cash Advance, in that order. SBI Card Elite rule changes from 15 July 3 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 1 crore currently offered on your SBI Card Elite will be discontinued. SBI Card Miles Elite rule changes from 15 July 4 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 1 crore currently offered on your SBI Card Miles Elite will be discontinued. SBI Card Miles Prime rule changes from 15 July 5 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 1 crore currently offered on your SBI Card Miles Prime will be discontinued. SBI Card Prime rule changes from 15 July 6 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 50 lakhs currently offered on your SBI Card Prime will be discontinued. SBI Card Pulse rule changes from 15 July 7 / 9 With effect from 15 July 2025, the complimentary Air Accident insurance coverage of Rs 50 lakhs currently offered on your SBI Card Pulse will be discontinued. SBI cards rule from August 8 / 9 Additionally, regarding change in SBI cards rule from August, the company said With effect from 11 August 2025, Complimentary Air Accident Insurance coverage of Rs 1 Cr. currently offered on your UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITE, PSB SBI Card ELITE, KVB SBI Card ELITE, KVB SBI Signature Card and Allahabad Bank SBI Card ELITE will be discontinued. SBI card rule changes With effect from 11 August 2025 9 / 9 With effect from 11 August 2025, Complimentary Air Accident Insurance coverage of Rs. 50 Lakh currently offered on your UCO Bank SBI Card PRIME, Central Bank of India SBI Card PRIME, PSB SBI Card PRIME, KVB SBI Card PRIME, Karur Vysya Bank SBI Platinum Credit Card, South Indian Bank SBI Card PRIME, South Indian Bank SBI Platinum Credit Card, Karnataka Bank SBI Card PRIME, Karnataka Bank SBI Platinum Credit Card, City Union Bank SBI Card PRIME, Allahabad Bank SBI Card PRIME, UBI SBI PLATINUM Credit Card, OBC SBI VISA PLATINUM Card, Federal Bank SBI Platinum Credit Card, BOM SBI PLATINUM Credit Card will be discontinued.
Time of India
29-06-2025
- Business
- Time of India
Credit Card holders take note: Major banks to tweak benefits from July; SBI, HDFC, Kotak revise rules - Here's what you need to know
This is an AI-generated image, used for representational purposes only. Starting July 2025, several leading banks, including SBI , HDFC Bank and Kotak Mahindra Bank, will roll out significant changes to their credit card terms, including revised insurance benefits, new transaction charges, and product migrations. Cardholders are advised to review these updates carefully to avoid unexpected costs and benefit disruptions. SBI Card: Insurance benefit withdrawn, payment rules updated SBI Card will discontinue its complimentary air accident insurance across several premium and co-branded cards from July 15, 2025. This includes the Rs 1 crore cover on SBI Card Elite, SBI Card Miles Elite and SBI Card Miles Prime, and the Rs 50 lakh cover on SBI Card Prime and SBI Card Pulse. Additionally, from August 11, 2025, this benefit will also be removed from co-branded cards like UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITE, and others, according to ET. SBI has also updated its Minimum Amount Due (MAD) calculation formula. From July 15, the MAD will include 100% of GST, EMI, charges, and finance costs, plus 2% of the remaining dues. The order of payment settlement will now be: GST > EMI > charges > finance charges > balance transfer > retail spends > cash advances. HDFC Bank: New charges on gaming, wallet loads and utilities HDFC Bank will revise several credit card charges from July 1, 2025. According to ET, a 1% transaction fee (capped at Rs 4,999/month) will now apply to: Online skill-based gaming spends over Rs 10,000/month Wallet loads exceeding Rs 10,000/month Utility bill payments above Rs 50,000/month (Rs 75,000 for business cards) No reward points will be given on gaming spends. Insurance spends remain exempt from charges, but rewards will be capped monthly: Infinia cards: 10,000 points Diners Black: 5,000 points Other cards: 2,000 points Cards like Marriott Bonvoy will continue to enjoy uncapped reward points. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ductless Air Conditioners Are Selling Like Crazy [See Why] Keep Cool Click Here Undo Also, education, rent and fuel spends will see charges if routed through third-party apps or if they exceed defined limits, ET reported. Kotak Mahindra Bank: Myntra Card to be replaced Kotak Mahindra Bank will discontinue the Myntra Kotak Credit Card from July 10, 2025, and transition customers to the Kotak League Credit Card. Users are urged to review the new card's features and rewards structure, as the migration will automatically replace the existing benefits. With banks tightening card benefits and introducing new charges, consumers are advised to monitor their monthly spending categories, especially in areas like online gaming, wallet usage, and high-value utility payments. Reviewing terms can help avoid fees and ensure continued access to key features. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
