You are here: Home » Finance » News » Banks
Business Standard

SBI Card slashes fuel surcharge to 1%

SBI Card is a joint venture between State Bank of India and GE Capital

Press Trust of India  |  New Delhi 

SBI Card slashes fuel surcharge to 1%

Card, with over four million customers, on Wednesday slashed fuel surcharge to one per cent from 2.5 per cent in line with overall reduction affected by marketing companies to promote transactions.

"Consequent to the revision in fuel surcharge levy on payments from 2.5 per cent to one per cent, fuel surcharge waiver on your Card has been revised to one per cent w.E.F April 26," the company said in a statement.

Card MD and CEO Vijay Jasuja said the fuel surcharge reduction is in line with the overall reduction done by 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.

is a joint venture between of and GE Capital.

First Published: Wed, April 26 2017. 22:33 IST