SBI is the biggest public sector bank of India. SBI offers a large range of products SBI Credit Card is one of them. The SBI Credit Card rate of interest is lower than other Credit Cards. Mostly your SBI Credit Card Interest Rate depends on your SBI Credit Card Eligibility. SBI Credit Card Interest Rate after due date starts from 3.00%*. You can easily calculate your SBI Credit Card Interest Rate with the help of SBI Credit Card Interest Rate Calculator. SBI Credit Card Interest Rate Per month depends if that SBI Credit Card is secure or unsecured if that is a secured card the SBI Credit Card Interest Rate will be 2.25%* and if the SBI Credit Card the SBI Credit Card Interest Rate will be 3.35%*.
SBI Credit Card Interest Rate offers you a grace period which is also called interest free period on credit card payments. The grace period is from 20 to 50 days which basically depends on which type of SBI Credit Card you are holding. But in cash, if you haven’t cleared previous months balance in full or availed the cash advance facility the interest-free period won’t be applicable. If you have paid the whole amount within the grace period you won’t get charged on SBI Credit Card Interest Rate. SBI Credit Card Interest Rate will be charged on you on a daily basis from the time basis availed the funds until you pay the total due amount.
SBI Credit Card Interest Rate is calculated on the closing balance amount from the date you made the transaction until the amount is fully paid. Most of the customers do not understand how the interest rate is calculated so often they got shocked after they checked their Credit Card bill. The SBI Credit Card Interest Rate can be up to 3.35%* per month or 40.2% per annum.
There are some SBI Credit Card Transactions which attract interest charges. SBI won’t charge you if you pay the total balance within the due date. If you don’t pay within your due date you have to pay the SBI Credit Card Interest Rate, apart from this here is the list of transactions where you have to pay interest charges.
- If you do not pay the minimum due amount within the due date. In this case, you have to pay the late fees and other charges.
- If you pay the SBI Credit Card to withdraw cash, if you do this the SBI Credit Card Interest Rate will be high.
- Also when you use your SBI Credit Card in an international location you will get charged.
SBI Credit Card Eligibility
- The age group should be 21to 65 years old.
- The person should be salaried or self-employed
- Work experience two years
- Minimum salary 20,000
- Minimum CIBIL Score 650.