Now extra charge will be levied on paying rent from credit card, this bank gave a big blow to the customers
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New Delhi (Best Hindu News): Many people in the country also pay house rent through credit card. Many platforms like Paytm, Cred, NoBroker, PayZap, Red Giraffe have made paying rent with credit card a profitable deal. However, doing so now is going to be costly. Actually, the credit card holders of Bank of Baroda have got a big shock. The company has announced that it will charge 1 per cent fee on rent payments through credit cards. This rule will be effective from February 1, 2023.
Till now Bank of Baroda did not levy any fee on such transactions. Due to this, many tenants used to enter the landlord’s bank account details or UPI address in the recipient’s option on platforms like Paytm, Cred, NoBroker, PayZapp, Red Giraffe, Mobikwik, PhonePe and make payment by credit card. However, these third-party platforms charge a convenience fee for making rent payments through credit cards.
Earlier, ICICI Bank had also announced to charge one per cent processing fee of rent from its credit card holders. The processing fees have come into effect from October 20, 2022. At the same time, extra charge is being levied on rent payments made using SBI’s credit card. The company is charging Rs 99 plus GST on rent payments made through SBI cards.
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