New rules have come into effect for SBI credit card users; a minor mistake could result in a hefty fine! – informalnewz
If you use an SBI Card credit card, even a small negligence can cost you dearly. The rules for late payment charges have changed starting May 1, 2026, and importantly, even small balances will now attract a penalty.
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If you use an SBI Card credit card, even a small negligence can cost you dearly. Effective May 1, 2026, the rules for late payment charges have changed, and importantly, even small balances will now attract a penalty.
According to the new rules, if you don’t pay the minimum amount due on time, you’ll have to pay higher charges. The biggest change is for balances between ₹100 and ₹500. Previously, there was no fee in this range, but now a ₹100 charge will be levied. The late fee for balances between ₹500 and ₹1,000 has been increased from ₹400 to ₹500. There’s no change in the charges for balances above ₹1,000.
Late payment charges (how will they be levied now):
Balance from 0 to ₹100: No charges
From Rs 100 to Rs 500: Now Rs 100 charge (was not there earlier)
From Rs 500 to Rs 1,000: Now Rs 500 (earlier Rs 400)
Rs 1,000 to Rs 10,000: Rs 750 (no change)
Rs 10,000 to Rs 25,000: Rs 950 (no change)
₹25,000 to ₹50,000: ₹1,100 (no change)
Above Rs 50,000: Rs 1,300 (no change)
Additionally, if you fail to pay your MAD for two consecutive billing cycles, an additional penalty of ₹100 will be levied. This charge will continue until you pay the outstanding amount in full.
If a cardholder fails to make a payment, the company may send reminders via call, SMS, email, or other means. Third-party agencies may also be involved in recovery efforts if necessary. Furthermore, if you continue to default, your information may be sent to credit bureaus, potentially damaging your credit score. Therefore, making timely payments and monitoring your expenses is more important than ever; even a small delay can cause significant losses.
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