HDFC Credit Card: Late payment charge revised; Do this to save money
The late payment charge on any card is levied when the cardholder fails to pay at least the minimum amount due by the due date. On every credit card, the minimum due amount is 5 per cent of the total outstanding amount.
HDFC Bank has announced a revision of its credit card late payment charges. The bank will now charge more for late payment on monthly statement balances above Rs 500. The new rates will be applicable from April 1, 2019. Hence, Credit card users of the HDFC Bank should try to clear dues before the due date. The late payment charge on any card is levied when the cardholder fails to pay at least the minimum amount due by the due date. On every credit card, the minimum due amount is 5 per cent of the total outstanding amount.
In order to avoid the late payment charges, one should ensure that at least the minimum due amount is paid on or before the due date. In doing so, one will not be required to call the HDFC credit card customer care to either waive the charges or explain the reasons for the delay.
Here are the revised charges on the HDFC cards, excluding the Infinia cards:
1. Statement balance: Rs 100
Late payment charges till March 31, 2019: Nil
Late payment charges from April 1, 2019: Nil
2. Statement balance: Rs 100 to Rs 500
Late payment charges till March 31, 2019: Rs 100
Late payment charges from April 1, 2019: 100
3. Statement balance: Rs 501 to Rs 5000
Late payment charges till March 31, 2019: Rs 400
Late payment charges from April 1, 2019: Rs 500
Watch this Zee Business TV video:
4. Statement balance: Rs 5001 to Rs 10000
Late payment charges till March 31, 2019: Rs 500
Late payment charges from April 1, 2019: Rs 600
5. Statement balance: Rs 10000 to Rs 25000
Late payment charges till March 31, 2019: Rs 750
Late payment charges from April 1, 2019: Rs 800
6. Statement balance: More than Rs 25000
Late payment charges till March 31, 2019: Rs 750
Late payment charges from April 1, 2019: Rs 950
On the due date, a cardholder has three options either, pay a minimum of 5 per cent of the outstanding amount or make a partial payment or pay the entire credit card dues in full. Only when the card bill amount is paid in full, the interest charges not apply.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
PM Modi has invested in this post office scheme; know his total worth as per Lok Sabha elections 2024 affidavit
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
TBO Tek IPO Listing LIVE Update: Bumper Debut! Share list at 55% premium - Buy, sell or hold? Check Anil Singhvi's view
06:09 PM IST