SBI Card cuts fuel surcharge to 1%
The fuel surcharge reduction is in line with the overall reduction done by oil companies, said SBI Card CEO Vijay Jasuja
New Delhi: 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.
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.