Bank card late cost payment comparability


By anshuli IST (Up to date)

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Credit score Card Late Cost Charges: How Do Main Banks’ Late Cost Charges Examine? See our desk for prepared reference

Bank cards give freedom to an individual to make purchases. Nevertheless, failure to pay the bank card dues on time can result in a debt entice. Additionally, he has to pay a further quantity on the bank card payments and this is called late cost cost.

Main gamers available in the market, akin to HDFC Financial institution, SBI Card and Axis Financial institution are charging as much as Rs 1,300, Rs 1,300 and Rs 1,000 respectively for steadiness funds above Rs 50,000. All these lenders have been charging charges for fairly a while, whereas ICICI Financial institution will cost Rs 1,200 for late funds of Rs 50,000 or extra with impact from February 10, 2022.

Listed here are the bank card late cost prices of assorted banks:

State Financial institution of India (SBI):

Money Advance Charge 2.5% of the quantity withdrawn or Rs.500 whichever is larger
late cost payment assertion steadiness cost
500. fewer Zero
501-1000 400
Rs.1001-10000 750
Rs 10001-25000 950
Rs 25001-50000 1100
> Rs 50000 1300
over restrict payment 2.5% of the restrict quantity, topic to a minimal of Rs.600
Auto Debit / Examine Return Charge 2 % minimal 500

HDFC financial institution

Money Advance Charge 2.5% of the quantity withdrawn or Rs.500 whichever is larger
late cost payment assertion steadiness cost
lower than 100 Zero
Rupee. 100-500 100
Rs 501-5000 500
Rupee. 5001-10000 600
Rs 10,001-25,000 800
Rupee. 25,001-50,000 1100
> Rs 50,000 1300
over restrict payment 2.5% of the quantity over and above the restrict topic to a minimal of Rs.550
Auto Debit / Examine Return Charge 2% minimal 450

ICICI Financial institution (Efficient February 10, 2022)

Money Advance Charge 2.5% of the quantity withdrawn or Rs. 300, whichever is larger
late cost payment assertion steadiness cost
lower than 100 Zero
Rupee. 100-500 100
Rs 501-5000 500
Rupee. 5001-10000 750
Rs 10001-25000 900
Rs 25001-50000 1000
greater than 50000 1200
over restrict payment 2.5% of the quantity over and above the restrict topic to a minimal of Rs.550
Auto Debit / Examine Return Charge 2% minimal 500

axis Financial institution

Money Advance Charge 2.5% of the quantity withdrawn or Rs.500 whichever is larger (waived for Axis Financial institution Burgundy Pvt, Reserve and Magnus CC)
late cost payment assertion steadiness cost
300. fewer Zero
Rs 301-500 100
501-1000 500
Rs 1001-10000 500
Rs 10001-25000 750
Rs 25001-50000 1000
> Rs 50000 1000
over restrict payment 3% of the quantity in extra of the restrict topic to a minimal of Rs.500
Auto Debit / Examine Return Charge 2% Min 450, Max 1500





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