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The Bajaj Finserv DBS Bank SuperCards allow you to borrow credit. This needs to be repaid every month. You can choose to repay this outstanding balance in the form of EMIs. However, your EMI payments will come with an interest charge levied by your credit card issuer. Over a few months, you can close your dues while managing your finances comfortably.

Interest Rate on the Bajaj Finserv DBS Bank SuperCard

Here’s the interest rate applicable to your credit card EMI dues:

Monthly Interest Rate

Annual Interest Rate

3.5%

48%

Note: The interest rates and other charges may differ on the basis of your credit card type. Please refer to the MITC document for more details. 

 

The interest-free period is different for each issuer and will be mentioned at the time of application and in your monthly statement. If you want the specifics of your DBS interest rate, the credit card statement will contain such information. 

 

You may also have received certain documents on successfully getting your credit card, and these will contain the rates applicable. Alternatively, you can also contact customer support and know the interest rate applicable to your Bajaj Finserv DBS Bank SuperCard transactions.

Factors that Affect Your Card’s Interest Rate

Given below are the factors that generally affect the interest rate on your credit card:

  • Credit Score: Higher scores often secure lower interest rates, reflecting creditworthiness

  • Credit History: A positive repayment history can lead to lower interest rates

  • Income Level: Higher income may qualify for lower rates, indicating repayment capacity

  • Debt-to-Income Ratio: A lower ratio suggests better financial health and can result in lower rates

  • Card Type: Different card categories may have varying interest rate structures

  • Market Conditions: Economic factors can influence the overall interest rate trend

  • Promotional Periods: Introductory offers may provide lower initial rates for a specific duration

  • Payment Behavior: Late payments can trigger penalty rates, increasing overall interest costs

How is the Interest Rate Calculated

Here’s the formula used for calculating your interest charges: 

 

Daily Interest = Outstanding Amount x (3.5% x 12 Months) / 365

 

Hence, if your outstanding amount is ₹10,000, the interest amount could be as follows:

 

Daily Interest = ₹10,000 x (0.35 x 12) / 365

Daily Interest = ₹115.06

 

Note: The calculation of interest may differ from the example chalked above. Please refer to the MITC or consult your issuer for clarification.

Bajaj Finserv DBS Bank SuperCard’s Interest-free Period

Bajaj Finserv DBS Bank SuperCard offers a grace period without interest charges. Here’s all you need to know about this:

  • Typically, interest-free periods range from 20 to 50 days from the statement date

  • You must settle your total outstanding amount by the due date to access this

  • This applies to new purchases made during the billing cycle

  • The interest-free period usually doesn't apply to cash advances; interest accrues immediately

  • Specifics may vary, and hence, you must check your card agreement for accurate details

Frequently Asked Questions

How can I know the current DBS credit card interest rate?

If the interest rate has changed, the issuer will notify you of the same 30 days before its effective date. Alternatively, you can check your latest Bajaj Finserv DBS Bank SuperCard statement or contact customer support to know the interest rate applicable to your card.

Is the credit card interest rate levied even if I pay the minimum amount?

Yes, the interest rate is charged even if you pay the minimum amount due.

How is the interest amount calculated on my Bajaj Finserv DBS Bank SuperCard?

To reach the interest amount for your outstanding balance, you will need to multiply the daily interest amount by the number of days. This applies until you pay the dues or the next statement date.

Is the EMI option available on the Bajaj Finserv DBS Bank SuperCard?

Yes, you can pay your dues in EMI. However, here your dues are converted into a loan, and a different interest rate applies to it. You can contact the issuer to know how this works with your Bajaj Finserv DBS Bank SuperCard.

Can I get a lower DBS credit card interest rate?

The interest rate for your Bajaj Finserv DBS Bank SuperCard can be lowered if you have an exemplary credit profile.

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