State Bank of India (SBI Card) has increased the processing fee on rent payments through credit cards. SBI sent a message to its customers. It has been explained that to pay the rent through credit card, Rs. 199 + tax will have to be paid.
Till now, customers were paying Rs 99 + tax to pay rent through credit card, but now customers will have to pay Rs 199 + tax. This new change made by SBI Bank will be effective from 15 March 2023. SBI had introduced a fee of Rs 99 + tax for this in November 2022.
ICICI Bank charges its credit card holders a 1 percent processing fee on rent payments. Bank is charging this processing fee from October 20, 2022. HDFC Bank is offering 500 reward points for making rent payments through credit. A rental payment of 1 percent + tax is charged on the transaction amount for the second rental payment after the first month. Bank of Baroda is charging 1 percent on rent payments through credit cards from February 1, 2023. Apart from these banks, IDFC First Bank and Kotak Bank are also charging 1 percent.