{"id":1296483,"date":"2025-06-17T09:49:21","date_gmt":"2025-06-17T04:19:21","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1296483"},"modified":"2025-06-17T09:52:41","modified_gmt":"2025-06-17T04:22:41","slug":"sbi-removes-rs-1-crore-air-accident-cover-for-these-users-starting-july","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/sbi-removes-rs-1-crore-air-accident-cover-for-these-users-starting-july\/","title":{"rendered":"SBI Removes Rs 1 Crore Air Accident Cover For These Users Starting July"},"content":{"rendered":"\n<p>SBI Card has announced sweeping changes set to take effect from <strong>July 15, 2025<\/strong>, impacting both premium and co-branded credit card users. These updates affect <strong>complimentary insurance coverage<\/strong>, <strong>minimum payment calculations<\/strong>, and <strong>payment settlement order<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"626\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/06\/Screenshot-2024-05-01-at-7.47.09\u202fAM-1024x626-1.png\" alt=\"SBI Removes Rs 1 Crore Air Accident Cover For These Users Starting July \" class=\"wp-image-1296494\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/06\/Screenshot-2024-05-01-at-7.47.09\u202fAM-1024x626-1.png 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/06\/Screenshot-2024-05-01-at-7.47.09\u202fAM-1024x626-1-300x183.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/06\/Screenshot-2024-05-01-at-7.47.09\u202fAM-1024x626-1-768x470.png 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Free Air Accident Insurance to Be Discontinued<\/strong><\/h3>\n\n\n\n<p>The most significant change is the <strong>withdrawal of complimentary <a href=\"https:\/\/economictimes.indiatimes.com\/wealth\/spend\/major-sbi-credit-card-update-no-complimentary-air-accident-insurance-for-these-cardholders-from-july-15-2025\/articleshow\/121848382.cms?from=mdr\">air accident insurance<\/a><\/strong> on several cards.<\/p>\n\n\n\n<p>From <strong>July 15, 2025<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Rs 1 crore coverage<\/strong> on <strong>SBI Card Elite, SBI Card Miles Elite, and Miles Prime<\/strong> will end.<\/li>\n\n\n\n<li><strong>Rs 50 lakh coverage<\/strong> on <strong>SBI Card Prime and Pulse<\/strong> will also be withdrawn.<\/li>\n<\/ul>\n\n\n\n<p>From <strong>August 11, 2025<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Co-branded cards with <strong>Rs 1 crore coverage<\/strong>, such as:\n<ul class=\"wp-block-list\">\n<li>UCO Bank SBI Card ELITE<\/li>\n\n\n\n<li>Central Bank of India SBI Card ELITE<\/li>\n\n\n\n<li>PSB SBI Card ELITE, and others, will lose the benefit.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Cards with <strong>Rs 50 lakh coverage<\/strong>, including PRIME variants from South Indian Bank, Karnataka Bank, Allahabad Bank, and others, will also be affected.<\/li>\n<\/ul>\n\n\n\n<p>These removals mean <strong>cardholders will no longer receive automatic air accident insurance<\/strong>, a previously valuable feature for frequent flyers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Revised Minimum Amount Due (MAD)<\/strong><\/h3>\n\n\n\n<p>Starting <strong>July 15<\/strong>, SBI will update how it calculates the <strong>Minimum Amount Due<\/strong> on credit card bills:<\/p>\n\n\n\n<p><strong>New MAD formula<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>100% of GST<\/li>\n\n\n\n<li>100% of EMI amounts<\/li>\n\n\n\n<li>100% of fees and charges<\/li>\n\n\n\n<li>100% of finance charges<\/li>\n\n\n\n<li>Any over-limit amounts (if any)<\/li>\n\n\n\n<li>Plus 2% of the remaining outstanding balance<\/li>\n<\/ul>\n\n\n\n<p>This change is likely to <strong>increase the minimum payable amount<\/strong>, especially for those with high EMIs or charges.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Updated Order of Payment Settlement<\/strong><\/h3>\n\n\n\n<p>From the same date, SBI will revise how payments are adjusted:<\/p>\n\n\n\n<p><strong>New settlement order<\/strong>:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>GST<\/li>\n\n\n\n<li>EMIs<\/li>\n\n\n\n<li>Fees\/charges<\/li>\n\n\n\n<li>Finance charges<\/li>\n\n\n\n<li>Balance transfers<\/li>\n\n\n\n<li>Retail purchases<\/li>\n\n\n\n<li>Cash advances<\/li>\n<\/ol>\n\n\n\n<p>This impacts how interest is charged and how fast you can reduce your costliest debts.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>Cardholders are advised to review their statements carefully and adjust financial plans accordingly. Losing insurance coverage and changes in payment processing could have <strong>significant implications<\/strong> for how much users pay and what protections they receive.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SBI Card has announced sweeping changes set to take effect from July 15, 2025, impacting both premium and co-branded credit card users. These updates affect complimentary insurance coverage, minimum payment calculations, and payment settlement order. Free Air Accident Insurance to Be Discontinued The most significant change is the withdrawal of complimentary air accident insurance on [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1296494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[8069,1448,460],"class_list":["post-1296483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-air-accident-cover","tag-credit-card","tag-sbi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SBI Removes Rs 1 Crore Air Accident Cover For These Users Starting July - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/sbi-removes-rs-1-crore-air-accident-cover-for-these-users-starting-july\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBI Removes Rs 1 Crore Air Accident Cover For These Users Starting July - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"SBI Card has announced sweeping changes set to take effect from July 15, 2025, impacting both premium and co-branded credit card users. 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