Credit score Card Late Payment: What do HDFC Financial institution, SBI Card, ICICI Financial institution and Axis Financial institution cost

ICICI Financial institution has revised its bank card prices with impact from February 10. As per the communication given by the financial institution to the purchasers, credit score cardholders must pay transaction payment on money advance, which has been revised to 2.50% on quantities superior on all playing cards, topic to minimal. 500. In case of verify return, the financial institution will now cost 2% of the entire quantity payable with a minimal 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 payment varies with the entire quantity due. In case your whole steadiness . is lower than 100, then the financial institution won’t cost you. Whereas for larger quantity the payment retains on rising with the rise within the quantity payable. The very best quantity to be charged by the financial institution is 1200 for the excellent quantity of 50,000 or extra.

Different large gamers out there, reminiscent of HDFC Financial institution, SBI Card and Axis Financial institution, are charging as much as Rs. 1300, 1300 extra respectively for greater than 1000 50,000 steadiness fee.

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

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ICICI Financial institution prices the payment from February 10, 2022. (mint)

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 enhance 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 towards a 25.79 per cent MoM achieve in October.

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