If you use the Credit Card of State Bank of India subsidiary SBI Card, then this news is special for you. Actually, many major changes are going to be done for credit card users and for this, the date of July 15 has been fixed. These changes include the minimum amount of the month bill from the MAD to the Complementary Insurance Cover.
Now you will have to pay more minimum amount!
SBI Card has announced several changes for its credit card users and its information has also been made available on the website. The change related to it from 15 July 2025 next month is related to the minimum amount of minimum ammount due to the largest credit card bill.
According to the new SBI Card rule, now with the 2 % amount of the total outstanding bill, 100 % amount of GST, EMI balance, fees, finance charges, overlimit amounts (if anyone) will also be included in the minimum amount dew.
New formula of minimum amount dew (according to SBI Card website)
- 100% GST
- 100% EMI
- 100% fees and charges
- 100% finance charge
- Overlimit sum (if there is any)
- 2% of the outstanding amount
What is the minimum amount du?
It is important to know here that what is the minimum amount due of the credit card, then let us know that it is the part of your outstanding bill, which you definitely pay every month. Therefore, late payment can be avoided. This is usually 2% or 5% of your total outstanding amount. But keep in mind that this is just a way to avoid default, because even after repaying it, interest climbs on you, so it is important that every month the outstanding bill of credit card is paid on time.
Air Accident Insurance Cover Finish
Along with the change in the minimum amount duration of SBI Credit Card, SBI Card Elite, SBI Card Miles Elite and SBI Card Miles Elite will be abolished from July 15 for SBI Credit Card Complimentary Air Accident Covers. Free insurance cover of up to Rs 1 crore to cardholders will be closed by the company. Significantly, State Bank of India provides this facility to its premium credit card holders. This cover on SBI Curd Prime and SBI Card Pulse is up to Rs 50 lakh, which will also be closed.