What is the grace period for SBI credit card?

20 to 50 days
SBI offers a grace period or interest-free period on credit card payments. Usually, the grace period or the interest-free period offered by SBI can range from 20 to 50 days depending on the type of credit card you hold.

Can I be jailed for credit card debt in India?

Still, no matter how big the debt is or how irreverent you may be about paying it back, the creditor can’t throw you into any jail, jail system or prison.

How can I close my FD in SBI credit card?

You can close your Credit Card Account by writing to us or calling the SBI Card Helpline. After placing your request for account closure, you are required to cut your credit card(s) diagonally. Your request will automatically lead to the termination of the add-on cards.

What happens if I pay my credit card bill after the due date?

Late fee You will have to pay a late fee if you pay your bill after the due date. The late fee would be charged by the bank in your next credit card bill. In a recent move, the Reserve Bank of India (RBI) has directed banks to charge late fee only if the payment has been due for more than three days after the due date.

What happens if you delay credit card payment by 1 day?

If you missed a credit card payment by one day, it’s not the end of the world. Credit card issuers don’t report payments that are less than 30 days late to the credit bureaus. If your payment is 30 or more days late, then the penalties can add up. Late payment fee: In most cases, you’ll be hit with a late payment fee.

Will I go to jail if I don’t pay my credit card bill?

You won’t go to jail if you don’t pay your credit card payments because it’s not a criminal offence. They could take legal action in a court of law for failure to pay a credit card bill, and a civil complaint might be filed.

Can I close my SBI credit card online?

You will need to mention your name, address, the card number, and their contact details. You should refrain from mentioning confidential information like the card’s CVV number or PIN. Once you have initiated the process of closing or cancelling the credit card, you can cut the concerned card diagonally.

Can I downgrade my SBI credit card?

Downgrade may be initiated by a customer only within a period of 90 days post upgrading the existing SBI Card. All new Credit Cards issued are “Domestic” usage cards. These cards can be used for purchases at merchant outlets in India or online transactions on Indian websites or at ATMs in India only.