SBI Rules: SBI customers must do this work before January 1, rules are going to change from new year

By | September 27, 2023
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how to redeem reward points sbi

SBI (State Bank Of India) is going to make changes regarding the points received on online purchases through credit cards. The bank has made a major change in the credit card reward point policy, which will be effective from January 1. That’s why credit card holders must redeem their reward points before January 1. At the same time, the processing fee on bank credit card transactions has been increased to Rs 100.

SBI Reward Points will be less from new year

SBI has revised the reward point rules for credit card holders on purchases. According to SBI, 10 times the reward point earned from shopping on Amazon.in has been reduced. From January 1, 2023, customers will get reward points only 5 times. The 10x reward points earned on online purchases made through SBI cards at Apollo 24X7, BookMyShow, Cleartrip, EazyDiner, Lenskart and Netmeds will continue as before.

Processing fee increased to Rs 100

SBI has revised the processing fee on credit card transactions from 15 November 2022. The bank has revised the processing fee on EMI transactions through all merchants to Rs 199 + applicable taxes from Rs 99 + applicable taxes earlier. At the same time, processing fee charges of Rs 99 + applicable taxes on all types of fare payment transactions have also been revised and implemented.

Redeem Reward Points before New Year

If SBI credit card holders have reward points, it would be better to use them before January 1, 2023. SBI card holders have the opportunity to redeem their reward points in two ways through the application and the website. Let us know the process of redeeming step by step.

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SBI customers first log in to the SBI Card mobile app.

Now select the Rewards option on the left side and click on Redeem Rewards.

After that browse through the award list and choose the reward of your choice.

Now click on the redeem option and submit it after confirming.

After this your reward points will be redeemed.

How to redeem reward points from website

SBI customers first log on to the official website of the bank, sbicard.com.

After this, select the Rewards option and then click on Redeem Rewards.

Now browse through the rewards catalog and select the reward item of your choice.

After this, click on the Redeem Now option and submit it after confirming.

After this process your reward points will be redeemed.