If you use the credit card of the State Bank of India, then there is big news for you. Now the processing fee has been increased on some credit card transactions done through credit card. According to the new update of SBI Cards, now credit card rent payment transactions and merchant EMI transactions will attract higher processing fees. These new charges have come into effect from November 15, 2022. SBI Cards has also sent SMS in this regard to its customers.

According to SBI Card's website, 'From November 15, 2022, a processing fee of Rs 99 + applicable taxes will be charged on all rent payment transactions.' Also, 'From November 15, 2022, all merchant EMI transactions will be charged Rs 199. Processing fee + applicable taxes of Rs 99 + applicable taxes will be charged.' That is, if you are paying the rent by credit card, then a processing fee of Rs 99 and GST at the rate of 18 per cent will be charged.

ICICI Bank also increased the processing fee
Last month, ICICI Bank also increased processing on credit card rent payments by 1 per cent. This new charge was implemented on October 22 for the bank's credit card holders.

Apart from this, SBI Cards has issued another notice for its cardholders, according to which the reward points for shopping on Amazon are also going to be cut. 10X reward points for purchases on e-commerce sites with simply click/SimplyCLICK advantage SBI Card to become 5X points from January 2023.