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


SBI Vs HDFC Financial institution Vs ICICI Financial institution Vs Axis Financial institution: How A lot Credit score Card Late Price 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 lure. Additionally, he has to pay an extra quantity on the bank card payments and this is named late fee cost.

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

The financial institution additionally revised the late fee prices for all its bank cards besides ICICI Financial institution Emerald Credit score Card. The late fee price varies with the whole quantity due. In case your complete excellent stability is lower than Rs 100, the financial institution is not going to cost you. Whereas for larger 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 out there, comparable 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 fee of Rs. 50,000 or extra from February 10, 2022.


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

sbi bank card price

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 Money advance prices on SBI bank cards might be levied at 2.5% on the amount of money withdrawn or Rs 500, whichever is larger.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

hdfc bank card prices

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

icici financial institution bank card prices

With impact from February 10, 2022, ICICI Financial institution bank card clients should pay transaction prices 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 test return, the financial institution will now cost 2% of the whole quantity payable with a minimal of Rs 500.

The late fee price varies with the whole quantity due. Word that in case your complete excellent stability is lower than Rs 100, the financial institution is not going to cost you. Whereas, for larger 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 Prices

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

As per the newest RBI information 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 p.c in October ’21 and 1.7 p.c 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. For those who miss any fee, you may be charged curiosity on the quantity you paid together with the penalty. As well as, interest-free financing will not be out there for purchases made within the following month. Probably the most important disadvantages are a spotty credit historical past and low credit score rating, each of which scale back your possibilities of getting credit score sooner or later.



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