Update: HDFC Bank Revises Credit Card Interest Rates & Charges

Update: HDFC Bank Revises Credit Card Interest Rates & Charges

From September 1, your Credit Card finance charges and late payment charges will be revised, if you are an HDFC Credit Card customer. Also, on this date the COVID Moratorium has expired and every card holder is liable to serve the card bill on or before the due date. You get three days of grace period beyond which a later payment fee will be applicable on your card outstanding.

Till the time you opt for easy EMI option, balance transfer or restructuring, you are obliged to pay at least the minimum amount due of your HDFC Credit Card statement.

Please note that, while finance charges have been marginally increased for some categories, the charges have been reduced drastically for premium cards. Let’s take an overlook on the changes incurred in schedule of charge, wef September 1, 2020.

Charges on revolving credit

  Latest rate from Sep 1, 20 Rate till Aug 31, 2020

Regalia/ Business Regalia/ Regalia First/ Business Regalia First/ Doctors

Regalia/ Diners Privilege/ Diners ClubMiles/ Millennia/ Millennia Easy EMI/

InterMiles Signature/ InterMiles World/ Indigo 6E Rewards/ Indigo 6E XL/

MoneyBack/ Indian Oil Card/ Times Titanium/ Times Platinum/ Others

3.6% per month (43.2% annually)

3.49% per month (41.88% annually)

Best Price Save Smart/ Best Price Save Max–

3.49% per month (41.88% annually)

3.49% per month (41.88% annually)

InterMiles HDFC Bank Diners Club/ Diners Black/ Infinia

1.99% per month (23.88% annually)

1.99% per month (23.88% annually)

Card against FDs

1.99% per month (23.88% annually)

1.99% per month (23.88% annually)

*3.6% per month i.e. 43.2% annually is maximum rate of interest on HDFC Credit Cards

Late Payment Charges (Excluding Infinia Credit Card)

Statement Balance New Rate W.e.f. 1st Sep 2020 (in Rs.) Previously (Till Aug 31, 20)
(in Rs.)

Less than 100

Nil

Nil

Rs 100 to 500

100

100

Rs 501 to Rs 5000

500

500

Rs 5001 to Rs 10000

600

600

Rs 10001 to Rs 25000

800

800

Rs 25001 to Rs 50000

1100

950

More than Rs 50000

1300

950

Charges on overlimit (Excluding Infinia Credit Card)

Credit Card New Rate W.e.f. 1st Sep 2020 (in Rs.) Previously (Till Aug 31, 20)
(in Rs.)

InterMiles HDFC Bank Diners Club, Infinia, Diners Black, Diners Privilege, Regalia, Business Regalia, Doctor’s Regalia, Diners Club Premium, Diners ClubMiles, InterMiles World / Signature, AllMiles, Millennia, Doctors Superia, Superia, Regalia First, Business Reglia First, Bharat CashBack,Best price Save Max, IndianOil HDFC Bank Card, Freedom Card, Business Bharat CashBack, Business Freedom Card, 6E Rewards XL-IndiGo Card

2.5% of overlimit amount

(Minimum of Rs 550)

2.5% of overlimit amount

(Minimum of Rs 500)

Diners Club Rewardz, Times Platinum Card, InterMiles Platinum, Solitaire, Platinum Edge, MoneyBack, Business MoneyBack, InterMiles Titanium / Select, Times Titanium Card, Teacher’s Platinum, Business Platinum, Easy EMI CreditCard, Small Business Moneyback, Best price Save Smart, 6E RewardsIndiGo Card

2.5% of overlimit amount

(Minimum of Rs 550)

2.5% of overlimit amount

(Minimum of Rs 500)

Other Important Fees Charges

Payment Return Charges

2% of Payment amount, minimum of Rs 450

Cash Processing Fee

Rs 100 (for all card payments made by depositing in HDFC Bank branches or ATMS)

Rewards Redemption Fee

Rs 99 per redemption request

All cards including InterMiles HDFC Bank Platinum & InterMiles HDFC Bank Titanium and excluding HDFC Bank World / InterMiles HDFC Bank Diners Club / For IndiGo HDFC Bank Cards, please visit www.goIndiGo.in

Balance Transfer Processing Charges

1% of BT amount or Rs 250, whichever is higher

Loan Processing Fee and PreClosure Charges

Intsa loan- Rs 700+ GST
Jumbo Loan- Rs 999 +GST

Smart EMI- *1% of Loan Amount, Minimum Rs 350

BT on EMI-*1% of Loan Amount, Minimum Rs 250
Loan Pre-closure charge- 3% of the Balance Principal Outstanding

Duplicate physical statement charges
(Do not apply to Infinia, Diners Black and Jet Diners)

Rs 10 per duplicate physical statement

Reissue of Lost, Stolen or Damaged Card

Rs 100

Annual charges, renewal and other charges remain the same.

Reward Points Validity

Another update is regarding validity of rewards points. It says, W.e.f. 18th March, 2020, when you receive a new Credit Card due to upgrade/migration, replacement, renewal or re-issuance, etc, the accumulated rewards will have limited validity. It will vary for 1 to 3 year depending on card variant.

HDFC Bank serves maximum base of Credit Card customers in India. The bank offers a wide range of cards to cater to its every rising client base in the country. From regular shopping cards to cash back credit cards, to premium travellers’ cards, to millennia range of cards, there is some offering for every type of customer in the HDFC Kitty. Irrespective of the ticket size and usage pattern, HDFC Cards run parallel to beat of India. Thus a small change in terms and condition impacts millions of customers. You can check HDFC Most Important Term & Conditions (MITC) for further details.

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