SBI Card To Implement BIG Changes From 11 August! All You Need To Know

Attention SBI Card users! Your credit cards will no longer be the same from 11 August, as SBI Card is set to reduce some complimentary benefits on a range of credit cards. The credit card issuer is removing its complimentary air accident insurance coverage for most of its credit card categories as part of a phased manner.

From 11 August, many SBI Card customers would not be able to avail the insurance coverage worth Rs 1 crore. Here are all the details about SBI Card changes, set to come into effect from 11 August.

SBI Card Changes To Come Into Effect From 11 August

According to SBI Card's official website, SBI Card will discontinue the complimentary air accident insurance coverage of Rs 1 crore on 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 Allahabad Bank SBI Card ELITE from 11 August.

In another update, SBI Card complimentary air accident insurance coverage of Rs 50 lakh for customers of UCO Bank SBI Card PRIME, Central Bank of India SBI Card PRIME, PSB SBI Card PRIME, KVB SBI Card PRIME, Karur Vysya Bank SBI Platinum Credit Card, South Indian Bank SBI Card PRIME, South Indian Bank SBI Platinum Credit Card, Karnataka Bank SBI Card PRIME, Karnataka Bank SBI Platinum Credit Card, City Union Bank SBI Card PRIME, Allahabad Bank SBI Card PRIME, UBI SBI PLATINUM Credit Card, OBC SBI VISA PLATINUM Card, Federal Bank SBI Platinum Credit Card, and BOM SBI PLATINUM Credit Card will cease to continue after 11 August.

SBI Card Reward Point Change

In addition to changes related to SBI Card complimentary insurance coverage, the company has also announced revision in its reward point disbursement and payment. According to the SBI Card's official website, reward points on spends on Digital Gaming platforms like merchants and government, etc will be discontinued from 1 September, 2025.

The change will remove the benefit of earning reward points on Digital Gaming platforms and government related transactions for Lifestyle Home Centre SBI Card, Lifestyle Home Centre SBI Card SELECT and Lifestyle Home Centre SBI Card PRIME.

SBI Card MAD Change

In July, SBI Card had announced a surge in the minimum account due calculation (MAD), a change in the order of payment settlement, removal of air accident cover insurance, etc.

SBI Card holders are facing 2% additional charges on remaining outstanding balance from 15 July. MAD is the minimum amount which a credit card holder is required to repay by the due date of the billing cycle of the credit card to stay safe from default.

With the revised MAD calculation, SBI Card credit card holders are now expected to pay higher MAD amount for their outstanding debts. The revised MAD calculation, implemented from 15 July, includes full settlement of finance charges and fees each month. Hence, card holders are now charged an additional 2% of their remaining outstanding amount in the MAD.

SBI Card also revised deadline payment allocation sequence for its customers in July. As per the revised sequence, payments will cover GST, followed by EMIs, fees and charges, finance charges, balance transfer amounts, retail spends, and finally cash advances. This new order aims to streamline the payment process for cardholders.