Credit score Card Expenses: Late Fee Expenses for Lacking Credit score Playing cards of ICICI, HDFC, SBI, Axis, Amex, Citibank


ICICI Financial institution just lately introduced that it has elevated varied bank card companies equivalent to late fee costs with impact from February 10, 2022. Click on right here to learn the entire story.

Figuring out the late fee costs on one’s bank card is necessary. When you miss any fee, you may be charged curiosity on the quantity you paid together with the penalty. This can even have an effect on your credit score rating. Late fee costs levied on a bank card will rely on the kind of bank card and the quantity due.

Here’s a have a look at bank card late fee payment costs by ICICI Financial institution, HDFC Financial institution, Axis Financial institution, Citibank, SBI Card and American Categorical.

SBI Credit score Card Late Fee Expenses

In accordance with the SBI Card web site, late fee costs will probably be relevant for non-payment of the minimal quantity due by the fee due date. Late fee costs can vary from Rs 400 to Rs 1,300.

  • Nil for the entire quantity payable from Rs.0-Rs.500;
  • Rupee. 400 for the entire quantity payable exceeds Rs. 500 and Rs. 1000;
  • Rupee. 750 for the entire quantity payable exceeds Rs. 1000 and Rs. 10,000;
  • Rupee. 950 for the entire quantity payable exceeds Rs. 10,000 as much as Rs 25,000;
  • Rupee. 1100 for the entire quantity payable exceeds Rs. 25,000 and Rs. 50,000
  • Rupee. 1300 for the entire quantity payable exceeds Rs. 50,000

Extra late fee payment of Rs. 100 will probably be levied for non-payment of Minimal Quantity Due (MAD) by the due date for 2 consecutive cycles. This payment will proceed to be levied for every fee cycle until the MAD is cleared.

hdfc financial institution bank card late fee payment

The fee due date on the bank card assertion is the date by which clear funds have to be credited to the bank card; Nevertheless, three grace days are allowed for fee processing time.

In accordance with the HDFC Financial institution web site, the late fee cost can vary from Rs 100 to Rs 1,300 relying on the quantity payable.

Axis Financial institution Late Fee Price

Axis Financial institution, in keeping with its web site, costs between Rs 100 and Rs 1,300 relying on the kind of bank card and the quantity payable. For instance the costs on choose playing cards are as follows. Click on right here to know in regards to the payment.

Citibank Late Fee Expenses

Citibank bank card clients will probably be charged between Rs 100 and Rs 1,300 as late fee payment.

Late Fee Charges for Citi Rewards Credit score Card:

Late Fee Expenses for Citi Status Card:

american specific late fee payment

In accordance with the Amex web site, late fee or delinquency costs will probably be charged as follows: 30% of the minimal quantity due topic to a minimal of Rs 500 and a most of Rs 1,000.

What occurs if you happen to fail to pay the bank card invoice on time?

Prospects who don’t pay their payments on time are indignant with bank card companies. They ship you reminders by mail and SMS when it is time to pay. When you 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 accessible for purchases made within the following month. Essentially 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.

What to do in case you are unable to make the fee earlier than the due date?

Bank card firms don’t like clients who miss funds. They ship reminders by mail and SMS, letting you recognize when the fee is due. Don’t ignore these warnings. In case of default in fee, curiosity can also be levied on the excellent quantity together with penalty. Additionally, the purchases made within the subsequent month don’t get curiosity free credit score. The most important drawback is a spotty credit historical past and low credit score rating, which adversely impacts your possibilities of availing any credit score facility in future.

Instruct your financial institution to pay the cardboard invoice by a sure date each month. In case you are strapped for cash, a minimum of pay the minimal payment in order that there is no such thing as a penalty.



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