Credit Card Usage: State Bank of India has given a shock to the customers using credit cards. If you use a credit card, now you will have to pay more for making rent payments. The company has increased the processing fee on rent payment. In an SMS sent to the users, information has been given that now during this service (Rent Payment) they will have to pay Rs 199 and tax instead of Rs 99 and tax.
This means that if you make rent payment using SBI’s credit card, then you will have to pay Rs 100 more processing fee than before with rent payment. At present, customers have to pay Rs 99 plus taxes. This new charge will be applicable on users from March 15, 2023.
The charge was increased earlier also
SBI had increased the processing fee earlier also. SBI had increased this charge to Rs 99 plus taxes during November 2022. Now this charge has been doubled. Apart from this, other banks also charge people for this service. Let us know which bank charges how much.
These banks also charge
ICICI Bank also charges 1% processing charge of rent payment through credit card from its customers, which it is taking from October 2022. On the other hand, talking about HDFC Bank, it gives 500 reward points on rent payment. However, if you make the rent payment in the second month itself, then you will have to pay a processing fee of 1% of the total transaction.
Talking about Bank of Baroda, this bank is also charging 1% processing fee on rent payment from 1 February 2023. Apart from this, some other banks like IDFC First Bank and Kotak Mahindra Bank are charging customers a processing fee of 1% of the total transaction for making rent payments through credit cards.
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