New Delhi: SBI Card, the credit card arm backed by State Bank of India will be discontinuing complimentary air accident insurance on several of its co-branded credit cards starting August 11, 2025. At present, cards like the UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITEand others offer air accident coverage of up to Rs 1 crore but that benefit is set to end soon.
These SBI Cards Will No Longer Offer Rs 1 Crore Insurance
SBI Card has announced that it will stop offering the Rs 1 crore complimentary air accident insurance on several of its co-branded credit cards. Starting August 11, 2025, this benefit will no longer be available on cards such as the UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITE, PSB SBI Card ELITE, KVB SBI Card ELITE, KVB SBI Signature Card, and Allahabad Bank SBI Card ELITE.
These SBI Cards Will No Longer Offer Rs 50 Lakh Insurance
A Rs 50 lakh air accident insurance cover on several co-branded SBI credit cards will also be discontinued. This includes cards like UCO Bank SBI Card PRIME, Central Bank of India SBI Card PRIME, PSB SBI Card PRIME, KVB SBI Card PRIME, and Platinum or PRIME cards from banks like South Indian Bank, Karnataka Bank, City Union Bank, Allahabad Bank, UBI, OBC, Federal Bank, and BOM.
SBI Card Revises Minimum Amount Due Calculation
This update follows SBI Card’s recent changes to its billing and payment process, which came into effect on July 15. The company has revised how it calculates the Minimum Amount Due (MAD). Now, MAD includes the full GST amount, EMIs, fees, finance charges, over-limit amounts, and 2 per cent of the remaining unpaid balance.