Here is a list of credit card late payment fees from different banks


Hyderabad: Having a credit card gives the financial freedom to make purchases as and when needed. While this makes our purchases easier, it also has the double effect of pushing a person into a debt trap if payment is not made on time. And in case of late payment, the person will also have to bear the brunt of the late payment fee.

Recently, ICICI Bank announced a revision of credit card fees which will take effect from February 10. Some reports suggest that other banks may follow suit by revising their credit card fees, although no official communication has been given by any other bank. than ICICI Bank.

Here is a list of the different fees charged by different banks:

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ICICI Bank:

According to the communication issued by the bank to customers, credit card holders will be charged 2.5% of the over-limit amount, subject to a minimum of Rs 550 as over-limit fee. In addition, the auto debit or check return fee has been set at 2% with a minimum of Rs 500 and the cash advance fee is 2.5% of the amount withdrawn or Rs 300 which is higher.

Meanwhile, late payment fee is zero for balance less than Rs 100, Rs 100 for Rs 100-Rs 500 balance, Rs 500 for Rs 501-Rs 5,000, Rs 750 for Rs 5,001-Rs 10,000 , Rs 900 for Rs 10,001-Rs 25,000, Rs 1,000 for Rs 25,001-Rs 50,000 and Rs 1,200 for more than Rs 50,000 balance.

State Bank of India (SBI):

The bank made no revisions to its existing credit card charges. The bank charges 2.5% of the amount withdrawn or Rs 500, whichever is higher, as a cash advance fee. The over limit fee is set at 2.5% of the over limit amount subject to a minimum of Rs 600 and the automatic debit or return check fee is set at 2% with a minimum of Rs 500.

Unlike ICICI Bank, SBI does not charge anything as late payment fee for balances below Rs 500. For Rs 501-Rs 1,000, the fee is Rs 400, for Rs 1,001-Rs 10,000, it charges Rs 750, for Rs 10,001-Rs 25,000, it charges Rs 950, for Rs 25,001-RS 50,000, the bank charges Rs 1,100 and for balance above Rs 50,000, it charges Rs 1,300.

Axis Bank

The bank charges 2.5% of the amount withdrawn or 500 rupees, whichever is higher, as a cash advance fee and it charges 3% of the overlimit amount, subject to a minimum of 500 rupees as a fee over limit and 2% with a minimum of 450 rupees and a maximum of rupees. 1,500 as an automatic debit or check return fee.

For late payment fees, Axis Bank charges zero for balance less than Rs 300, Rs 100 for Rs 301-Rs 500, Rs 500 for Rs 501-Rs 1,000 and Rs 1,001-Rs 10,000, Rs 750 for Rs 10,001-Rs 25,000, Rs 1,000 for Rs 25,001-Rs 50,000 and Rs 1,000 for more than Rs 50,000 balance.

HDFC Bank

HDFC Bank charges 2.5% of the withdrawn amount or Rs 500 which is higher as cash advance fee, 2.5% of over limit amount subject to a minimum of Rs 550 as over limit fee and 2% with a minimum of Rs 450 as automatic debit or check. return fees.

In terms of late payment charges, bank charges are zero for balance less than Rs 100, Rs 100 for Rs 100-Rs 500, Rs 500 for Rs 501-Rs 5,000, Rs 600 for Rs 5,001-Rs 10 000, Rs 800 for Rs 10,001-Rs 25,000, Rs 1,100 for Rs 25,001-Rs 50,000 and Rs 1,300 for more than Rs 50,000 balance.


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