Fuel Surcharge Waiver by SBI Cards Division

Fuel Surcharge Waiver by SBI Cards Division

Fuel Surcharge Waiver by SBI Cards Division

Amidst the various increments in different taxes and interest rates, there is certainly a good news for consumers who pay for fuel via cards. 

SBI Card MD and CEO Vijay Jasuja said the fuel surcharge reduction is in line with the overall reduction done by oil companies. “We have a policy that we will absorb fuel surcharge up to a certain amount. Earlier also we were absorbing the fuel surcharge and now also we are not charging anything to customers,” he said. SBI Card is a joint venture between State Bank of India and GE Capital.

SBI Card, with over 4 million customers, on Wednesday slashed fuel surcharge to 1% from 2.5% in line with overall reduction affected by oil marketing companies to promote digital transactions.

“Consequent to the revision in fuel surcharge levy on credit card payments from 2.5% to 1%, fuel surcharge waiver on your SBI card has been revised to 1% w.e.f April 26,” the credit card company said in a statement.

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