Devaluation, Revaluation Alerts and Regular Updates – All Latest Updates in One Place

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Date: 19-06-2025
Credit Card: Multiple SBI Credit Cards (Elite, Prime, Pulse & Co-branded variants)
Devaluation Alert:
🔹 Effective 15 July 2025 – Major policy changes in Minimum Amount Due (MAD) calculation & removal of Air Accident Insurance
🔹 Effective 11 August 2025 – Insurance removal extended to partner bank variants

1. Change in Minimum Amount Due (MAD) & Payment Settlement – Effective 15 July 2025

New MAD Formula:​

MAD =
✅ 100% of GST
✅ 100% of EMI Amount
✅ 100% of Fees/Charges
✅ 100% of Finance Charges
✅ Overlimit Amount (if any)
✅ + 2% of remaining balance

Revised Payment Settlement Order:​

Payments will now be applied in this order:

1. GST → 2. EMI → 3. Fees/Charges → 4. Finance Charges → 5. Balance Transfer → 6. Retail Spends → 7. Cash Advance

🔎 Impact: Higher dues may go unpaid longer, increasing finance charges if you don’t clear full balance.

2. Discontinuation of Complimentary Air Accident Insurance

Card Variant	Current Coverage	New Status
SBI Card ELITE	₹1 Crore	❌ Discontinued
SBI Card MILES ELITE	₹1 Crore	❌ Discontinued
SBI Card MILES PRIME	₹1 Crore	❌ Discontinued
SBI Card PRIME	₹50 Lakh	❌ Discontinued
SBI Card PULSE	₹50 Lakh	❌ Discontinued

W.e.f. 11 August 2025​

Impacted Co-branded SBI Cards – Insurance Coverage Discontinued
₹1 Crore Coverage Removed From:

• UCO Bank SBI Card ELITE
• Central Bank of India SBI Card ELITE
• PSB SBI Card ELITE
• KVB SBI Card ELITE & Signature
• Allahabad Bank SBI Card ELITE

₹50 Lakh Coverage Removed From:

• PRIME/PLATINUM cards issued via:
  
  • UCO, Central Bank, PSB, KVB, South Indian Bank, Karnataka Bank, Allahabad Bank, City Union Bank, Union Bank of India, OBC, Federal Bank, Bank of Maharashtra

Comments: This is a massive blow to SBI premium cardholders. Losing ₹1 Cr/₹50L Air Insurance makes travel riskier without add-on cover. The new MAD structure may increase interest liability for those paying minimum dues. Definitely reconsider your card strategy if insurance or repayment flexibility was a key factor.

Source: Notices for Cardholders

 

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Date: 19-06-2025
Bank Account: Kotak Mahindra Bank – Savings Account (Resident & NRI: NRE/NRO)
Update: Effective 18-June-2025 – Revised Interest Rates on all Kotak Savings Accounts

Updated Savings Account Interest Rates (w.e.f. 18-June-2025)

Account Type	Daily Balance Slab	Revised Interest Rate (p.a.)
Domestic (Resident)	Up to ₹50 lakh	2.75%
	Above ₹50 lakh – up to ₹3 crore	3.25%
Non-Resident (NRE/NRO)	Up to ₹50 lakh	2.75%
	Above ₹50 lakh – up to ₹3 crore	3.25%

Comments: This is a significant downward revision, especially for lower balance holders. Earlier, Kotak offered higher-tiered interest rates even for modest balances, which now stand uniformly reduced to 2.75% p.a. across the board for balances under ₹50L. Better to use their ActiveMoney feature now.
Now, Many banks are reducing interest rates to 2.7% p.a
Source: click here

 

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Date: 19-06-2025
Credit Card: HDFC Infinia Metal Credit Card
Devaluation Alert: Effective already (confirmed via support) – Priority Pass access now limited to international lounges only

Key Change:​

• Priority Pass issued with HDFC Infinia Metal can no longer be used for domestic lounge access.
• It is now restricted to international lounge usage only.
• This change was not explicitly communicated via email/SMS, but is now updated on the HDFC Bank website and acknowledged via customer care.

Comments: This is a stealth downgrade for frequent domestic travelers who relied on Priority Pass. While Infinia still offers unlimited domestic lounge access, the coverage is very limited List of Domestic lounges.
Source: Email