Annual Maintenance Charge
Annual Maintenance Charge (AMC) is an annual fee that is charged by banks on their customers for maintaining and servicing their debit cards. This annual charge is usually payable by the cardholder to the bank on a yearly basis. The amount of AMC is determined by the bank and may vary depending on factors such as the type of debit card, the level of services offered, and the terms and conditions of the account.
About the announcement of SBI revised AMC
Starting from April 1, 2024, customers holding the debit cards will be subject to the new annual maintenance charges as per the rates specified by SBI.
The revised annual maintenance charges could entail changes in the fees that customers need to pay for using their debit cards for various services provided by SBI, such as ATM transactions and other related services.
Debit Card Annual Maintenance Charges
| Debit Card Type | Existing Charges |
New charges (Effective from April 1, 2024) |
| Classic /Silver/Global/Contactless Debit Cards | Rs 125/ +GST | Rs 200/ + GST |
| Yuva/Gold/Combo Debit Card/My Card (Image Card) | Rs 175/ + GST | Rs 250/+ GST |
| Platinum Debit Card | Rs 250/ +GST | Rs 325/+ GST |
| Pride/Premium Business Debit Card | Rs 350/ +GST | Rs 425/+ GST |
GST Rate
GST rate of 18% is applicable to the service fee charged by banks.
How can customers find more information about the increase in annual maintenance charges?
Customers can visit SBI's official website - sbi.co.in, for detailed information.
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