Private sector lender YES Bank has decided to update some fee-related rules for its credit card users. These new rules will come into effect from April 1.
The changes mainly affect utility bill payments and transportation-related expenses. The bank has increased the monthly spending limits in these categories. This means customers can spend more before any extra charges are applied.
However, the fee rate itself has not changed. If the spending crosses the set limit, a 1% charge plus applicable GST will still be applied.
Utility Bill Payment Rules
The bank has increased the monthly spending limit for paying utility bills such as electricity, water, and gas using credit cards.
If the total spending on these bills in a statement cycle exceeds the allowed limit, the bank will charge 1% of the transaction amount plus GST. The maximum fee per transaction will be ₹5,000.
From April 1, the new limits will be:
₹1 lakh per month for YES Private Credit Cards
₹50,000 per month for Marquee, Reserve, and other premium cards
₹25,000 per month for other YES Bank credit cards
This means customers will only pay extra charges if their monthly utility payments go above these limits. Earlier, the limits for these cards were lower.
Charges on Wallet Loading
The bank has also explained the charges for loading money into third-party digital wallets using a credit card.
If the wallet load amount is up to ₹2,000, no fee will be charged.
If the amount exceeds ₹2,000, a 1% charge plus GST will apply.
Here too, the maximum fee per transaction will be ₹5,000.
Toll and Bridge Transactions
The bank has also changed the way toll and bridge payments are shown in credit card statements. These transactions will now appear as “Transportation fee.”
The same fee rule will apply here as well. If monthly spending in this category crosses the allowed limit, a 1% charge plus GST will be applied.
From April 1, the spending limits will be:
₹75,000 per month for premium credit cards
₹50,000 per month for other credit cards