Last Updated:June 17, 2025, 14:28 IST
SBI Card has announced several significant changes for its credit cardholders, set to take effect from July 15; Check details
SBI Credit Card Rule Change
SBI Card has announced several significant changes for its credit cardholders, set to take effect from July 15, 2025. These changes include updates to the minimum amount due (MAD) calculation, the order of payment settlement, and the discontinuation of complimentary air accident insurance on a range of SBI and co-branded credit cards.
From July 15, SBI Card will discontinue the complimentary air accident insurance coverage of Rs 1 crore currently available on premium cards such as SBI Card ELITE, SBI Card Miles ELITE, and SBI Card Miles PRIME. Similarly, the Rs 50 lakh air accident insurance benefit on SBI Card PRIME and SBI Card PULSE will also be withdrawn from this date. Cardholders of these variants will no longer be eligible for these insurance benefits.
The withdrawal of insurance benefits will also extend to co-branded SBI credit cards from August 11, 2025. The Rs 1 crore air accident insurance will no longer be offered on cards including the 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 the Allahabad Bank SBI Card ELITE. Similarly, the Rs 50 lakh air accident insurance benefit will be discontinued for several other co-branded variants, such as SBI Card PRIME issued with UCO Bank, Central Bank of India, PSB, Karur Vysya Bank, South Indian Bank, Karnataka Bank, City Union Bank, Allahabad Bank, and Platinum credit cards issued with UBI, OBC, Federal Bank, and Bank of Maharashtra.
In addition, SBI Card has revised how the minimum amount due (MAD) is calculated. From July 15, the MAD will include 100% of GST, 100% of EMI amount, 100% of fees and charges, 100% of finance charges, any applicable overlimit amount, and 2% of the remaining outstanding balance.
The order of payment settlement is also being restructured. Payments made toward outstanding dues will now be applied in the following sequence: GST, EMI amount, fees and charges, finance charges, balance transfers, retail spends, and finally cash advances.
Cardholders are advised to review these upcoming changes carefully and adjust their card usage and repayment strategy accordingly to avoid disruptions and stay informed about the benefits they are entitled to.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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