If you have an HDFC Bank credit card, then late payment from September 1 will be more expensive. The largest private sector bank has announced to increase the late payment charge on credit cards. HDFC gave this information on its website. According to this, new charges will be applied to all other types of credit cards except Infinia cards.
It is known that if the minimum amount of credit card bill is not paid till due date, or if the payment amount is not credited to the bank card account till the due date, then the bank charges a late payment charge from the customers. This late payment charge is not charged on the Infinia credit card.
Statement balance (in rupees) Late payment charge (till 31 August 2020) Late payment charge (from 1 September 2020)
Less than Rs 100 -
100 - 500 100 Rs 100 Rs.
501 - 5,000 500 Rs 500 Rs.
5,001 - 10,000 600 Rs 600 Rs.
10,001 - 25,000 800 Rs 800
25,001 - Rs 50,000 950 Rs 1,100
Rs. 950 plus Rs. 1,300 plus 50,000
That is, late payment charges will have to be paid at the same rate up to DU amount up to Rs 25,000. But if there is a DU of more than this, an additional charge will have to be paid after 31 August. Right now, late payment charges of Rs 950 are levied on the amount of Rs 25,000 to 50,000, which will be Rs 1,100 from September 1. Similarly, a charge of more than Rs 50,000 is currently charged Rs 950, which will increase to Rs 1,300.
In addition, duplicate physical statement charges will be collected from customers from September. The charge for a duplicate physical statement has been fixed at Rs 10.
You will find other information related to this on the HDFC website. For this, click on the link given below.