Credit cards, over the years, have become a part of one’s life. But, in a bit of a setback to credit card holders of HDFC Bank, a revision of its credit card late payment charges has been announced.
According to reports, the bank will now charge more for late payment on monthly statement balances above Rs 500. HDFC credit card late payment charges are being revised by HDFC Bank from April 1, 2019. The late payment charges will be applicable on all their cards except on the Infinia cards.
The late payment charges on any card are levied when a customer fails to pay at least the minimum amount due by the due date. On every credit card, the minimum due amount is 5 percent of the total outstanding amount. Credit cardholders on the due date have three options either, pay a minimum of 5 percent of the outstanding amount or make a partial payment or pay the entire credit card dues in full.
Statement balance: Rs 100
Late payment charges till March 31, 2019: Nil
Late payment charges from April 1, 2019: Nil
Statement balance: Rs 100 to Rs 500
Late payment charges till March 31, 2019: Rs 100
Late payment charges from April 1, 2019:
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
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
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
Statement balance: More than Rs 25000
Late payment charges till March 31, 2019: Rs 750
Late payment charges from April 1, 2019: Rs 950
