HDFC Credit Card Interest Rate

When you pay your HDFC Credit Card dues on time, no interest will be levied. However, if you make a late or partial repayment, then there will be interest charged. Credit card interest rates are generally quite high, so it’s best to avoid them. 

Keep reading to learn more about HDFC Credit Card interest rates.

HDFC Bank charges interest against overdue amounts. It is important that you are aware of these charges, and when they come into effect. The HDFC Bank Credit Card monthly interest rate is applicable under the following circumstances:

• Late Payment: If you do not pay the total or minimum due on your HDFC Bank Credit Card by the due date, the bank will charge you a late payment fee.

• No Payment Made: Interest charges on HDFC Bank Credit Card dues will be levied if you default on paying the card bill.

• Minimum Due/Amount Paid: HDFC Bank Credit Card interest rate is also levied after the minimum due is cleared. So, if you just pay your minimum due amount and carry the balance to the next billing cycle, the bank will charge you interest. 

• Partial Payment: Even if you pay more than the minimum amount due but do not pay the full amount, you still will incur interest charges. The total interest incurred will be the summation of:

1. Interest against the total amount from the transaction date till the date of partial payment

2. Interest against the remaining amount from the day you make partial payment until the date when the next statement is generated.

• Cash Withdrawal: HDFC Bank Credit Card interest rates are applicable on cash withdrawals. These charges are levied from the date of the withdrawal until the amount is paid off in its entirety.

To understand the HDFC Bank Credit Card interest rate calculation, let us take a look at an example:

You won’t incur any interest charges if you are responsible with your finances, and pay the total amount due before the due date. However, certain transactions will attract HDFC Bank Credit Card interest rate, and these are mentioned below:

• If the cardholder does not pay the total outstanding amount before the due date, the overdue amount will attract an HDFC Bank Credit Card late payment interest penalty

• If the cardholder pays the minimum amount due, they will still incur interest charges on the amount carried to the next billing cycle

• If the cardholder uses their credit card to withdraw cash from the ATM against their credit limit, they will incur a cash advance fee

This is the period of time between your last credit card statement generation date and the current due date. During this period, no interest is charged on your HDFC Bank Credit Card transactions. You can enjoy up to 50 interest-free days against a transaction depending on the transaction date.

Just remember, if you pay the total outstanding bill within the credit card payment due date, you will not be charged any interest on your transactions. It might be useful to note that HDFC Bank also provides three grace days from the payment due date if there is no payment overdue on your credit card. This is offered to accommodate the processing time of payments. 

However, if the payment is not received even after three days, the bank will flag your credit card account as 'past due' to the credit bureau. You will also be charged a late payment fee which would be computed from the payment due date as mentioned in your HDFC Bank Credit Card statement.