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:
Interest against the total amount from the transaction date till the date of partial payment
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:
HDFC Bank CC Rate of Interest |
3.60% p.m. |
Transaction Date |
May 10, 2023 |
Transaction Amount |
₹15,000 |
Transaction Date |
May 15, 2023 |
Transaction Amount |
₹6,000 |
Statement Generation Date |
May 18, 2023 |
Total Amount Due |
₹21,000 |
Partial Payment Date |
June 12, 2023 |
Partial Payment Amount |
₹2,000 |
Transaction Date |
June 14, 2023 |
Transaction Amount |
₹2,000 |
Payment Due Date |
June 15, 2023 |
Card Payment Amount |
₹15,000 |
Statement Generation Date |
June 18, 2023 |
Interest charges on HDFC Bank Credit Card are calculated using the following formula: (outstanding amount*interest rate per month* 12 *no of days) / 365
Interest on ₹15,000 for 23 days (May 19, 2023 to June 11, 2023)
(15,000*3.6%*12*23)/365 = ₹408.33
Once the payment of ₹2,000 is made, the amount pending is ₹13,000 (₹15,000 - ₹2,000)
Interest on ₹13,000 for 3 days (June 12, 2023 to June 14, 2023)
(13,000*3.6%*12*3)/365 = ₹46.16
Interest on ₹6,000 for 26 days (May 19, 2023 to June 14, 2023)
(6,000*3.6%*12*26)/365= ₹184.63
Total amount pending on the card on June 15, 2023 is ₹19,000 (₹13,000 + ₹6,000). With the card payment of ₹15,000 made against the credit card bill, the outstanding balance is ₹4,000.
Interest on ₹4,000 for 4 days (June 15, 2023 to June 18, 2023)
(4,000*3.6%*12*4)/365= ₹18.93
Interest on ₹2,000 for 5 days (June 14, 2023 to June 18, 2023)
(2,000*3.6%*12*5)/365= ₹11.83
Total interest charged on June 18, 2023= ₹ 669.88 (₹11.83 + ₹18.93 + ₹184.63 + ₹46.16 + ₹408.33)
HDFC Credit Card Variant |
HDFC Bank Regalia Credit Card |
HDFC Bank MoneyBack Credit Card |
HDFC Bank Times Platinum Credit Card |
HDFC Diners Club Black Credit Card |
HDFC Bank Indian Oil Card |
HDFC Bank Interest on Credit Card |
3.6% p.m. or 43.2% p.a. |
3.6% p.m. or 43.2% p.a. |
3.6% p.m. or 43.2% p.a. |
1.99% p.m. or 23.88% p.a. |
3.6% p.m. or 43.2% p.a. |
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
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.
The HDFC Bank credit card interest rate is the fee that the bank charges on the total outstanding amount of your credit card bill. The interest charges are calculated at a fixed rate on the balance and the new purchases till the outstanding is cleared in full.
The interest charges on the HDFC Bank Credit Card are calculated using the following formula:
(outstanding amount*interest rate per month* 12 *no of days) / 365
HDFC Bank Credit Card interest is applicable on the outstanding balance. This is in case you miss paying your credit card bill on the payment due date or pay only the minimum due amount. Interest is also charged for using the HDFC Bank Credit Card for cash withdrawal.
Apart from the interest charges on HDFC Bank Credit Card, the bank may levy some other charges on your card. However, the same depends on the card variant and the usage pattern.
In general, the minimum amount due is computed as a percentage of your total outstanding balance. Typically, HDFC Bank considers around 5% as the minimum amount that you are required to pay to avoid interest charges and penalties.
It may take up to 21 business days for the bank to process and deliver your credit card once they receive your application. If any particulars are missing in the application, the process may take longer. However, updates about the status of your application are sent to your mobile number.
HDFC Bank will stop levying interest charges once you pay the total outstanding amount, as mentioned in your credit card statement, before the due date. Any amount carried to the next billing cycle will automatically attract interest charges.
You can avoid paying interest on your HDFC Bank Credit Card by making purchases during the interest-free period. Purchases made during this period do not attract any interest charges.
Moreover, you must pay the total outstanding amount before the due date to avoid additional interest charges. Lastly, it is recommended that you do not withdraw money from the ATM using your credit card, unless you face a genuine financial emergency.
Such cash advances attract a cash advance fee, which is usually 2.5-3% of the withdrawn amount (or ₹300-500).