SBI Vs HDFC Financial institution Vs ICICI Financial institution Vs Axis Financial institution: How A lot Credit score Card Late Payment They Cost


SBI Vs HDFC Financial institution Vs ICICI Financial institution Vs Axis Financial institution: How A lot Credit score Card Late Payment They Cost

New Delhi: 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 an extra quantity on the bank card payments and this is named late cost cost.

In case of examine return, the financial institution will now cost 2% of the full quantity payable with a minimal of Rs 500.

The financial institution additionally revised the late cost fees for all its bank cards besides ICICI Financial institution Emerald Credit score Card. The late cost price varies with the full quantity due. In case your whole excellent stability is lower than Rs 100, the financial institution is not going to cost you. Whereas for greater quantity the price retains on rising with the rise within the quantity payable. For excellent quantity of Rs 50,000 or extra, the financial institution will cost a most of Rs 1200.

Main gamers available in the market, equivalent to HDFC Financial institution, SBI Card and Axis Financial institution are charging as much as Rs. 1300, Rs. 1300 and Rs. 1000 respectively for stability funds above Rs.50,000. All these lenders have been charging charges for fairly a while whereas ICICI Financial institution will cost Rs 1200 for late cost of Rs. 50,000 or extra from February 10, 2022.


Here’s a comparability of bank card fees of main gamers like HDFC Financial institution, SBI Card, ICICI Financial institution and Axis Financial institution

sbi bank card price

There shall be no cost lower than Rs 500. Late cost fees are Rs 1,300 for Rs 1,001-10,000, Rs 400 on payments as much as Rs 501-1000. Money advance fees on SBI bank cards shall be levied at 2.5% on the amount of money withdrawn or Rs 500, whichever is greater. The overlimit cost is 2.5 per cent or a most of Rs 600. A minimal of two% or Rs 500 shall be charged as auto debit or examine return fees.

hdfc bank card fees

There shall be no cost on payments under Rs 100. A late cost cost of Rs 100 is levied on a invoice of Rs 100-500. Rs.500 on payments as much as Rs.501-5,000, Late cost fees Rs.600 for Rs.5001-10000, Rs.800 on payments of Rs.10001-25000, Rs.1100 on Rs.25,001-50,000 and Late cost fees as much as Rs.50,000 1300 for Rs. Money advance fees on HDFC bank cards shall be levied at 2.5% on the amount of money withdrawal or Rs 500, whichever is greater. The overlimit cost is 2.5 per cent or a most of Rs 550. A minimal of two% or Rs 450 shall be charged as auto debit or examine return fees.

icici financial institution bank card fees

With impact from February 10, 2022, ICICI Financial institution bank card clients should pay transaction fees on money advances, revised to 2.50% on the quantity superior on all playing cards, topic to a minimal of Rs 500. In case of examine return, the financial institution will now cost 2% of the full quantity payable with a minimal of Rs 500.

The late cost price varies with the full quantity due. Observe that in case your whole excellent stability is lower than Rs 100, the financial institution is not going to cost you. Whereas, for greater quantity the fees carry on rising with the rise within the quantity payable. For quantities above Rs 50,000, the financial institution will cost a most of Rs 1200.

Axis Financial institution Credit score Card Expenses

There shall be no cost on payments under Rs 300. A late cost cost of Rs 100 is levied on a invoice of Rs 300-500. Rs 500 for payments as much as Rs 501-1000, late cost cost for Rs 1001-10000 is Rs 1000. Money advance fees on HDFC bank cards shall be levied at 2.5% on money withdrawal or Rs 500, whichever is greater. Overlimit cost is 3% or most Rs.500. A minimal of two% or Rs 450 shall be charged as auto debit or examine return fees. A most of Rs 1,500 shall be charged.

As per the newest RBI knowledge for the month of November, the variety of bank cards has elevated by 1.84 per cent as in comparison with October 2021. This improve was up from 2 % in October ’21 and 1.7 % in September ’21. On bank card spends, there was a month-on-month decline of 11.6 per cent in November as in opposition to a 25.79 per cent MoM acquire in October.

What occurs when you fail to pay the bank card invoice on time?
Prospects who don’t pay their payments on time are indignant with bank card corporations. They ship you reminders by mail and SMS when it is time to pay. If you happen to miss any cost, you’ll be charged curiosity on the quantity you paid together with the penalty. As well as, interest-free financing isn’t accessible for purchases made within the following month. Essentially the most important disadvantages are a below-average credit historical past and low credit score rating, each of which cut back your possibilities of getting credit score sooner or later.



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