Credit Card Interest Rate ICICI

ICICI Bank Credit Card Interest Rate

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What is the ICICI Bank Credit Card Interest Rate 

ICICI Bank is one of India’s premier banking institutions. They offer a range of different credit cards across multiple segments such as travel, lifestyle, shopping, healthcare, and more. ICICI Bank credit cards allow you to make purchases online and offline without incurring any interest as long as you clear your dues within the due date. 

 

However, if you miss the stipulated due date, you will be liable to pay the ICICI Bank credit card interest rates applicable for your card. The rate of interest on ICICI Bank credit cards is from 2.49% per month (29.88% per annum) to 3.67% per month (44% per annum) depending on the type of card you own.   

Interest Rates Associated with Top ICICI Bank Credit Cards 

Here’s a table specifying the different rates of interest applicable on some of the top credit cards from ICICI Bank. 

ICICI Bank Credit Card 

Interest Rate 

ICICI Bank Instant Platinum Credit Card

2.49% per month (29.88% per annum)

ICICI Bank Instant Gold Credit Card

2.49% per month (29.88% per annum)

Fixed Deposit Instant Credit Card 

2.49% per month (29.88% per annum)

InterMiles ICICI Bank Credit Card

3.50% per month (42% per annum)

MakeMyTrip ICICI Bank Credit Card

3.50% per month (42% per annum)

ICICI Bank HPCL Super Saver Credit Card

3.50% per month (42% per annum)

Amazon Pay ICICI Bank Credit Card

3.50% per month (42% per annum)

Manchester United Credit Cards by ICICI Bank

3.67% per month (44% per annum)

Emirates Skywards ICICI Bank Emeralde Credit Card

3.67% per month (44% per annum)

Emirates Skywards ICICI Bank Sapphiro Credit Card

3.67% per month (44% per annum)

Emirates Skywards ICICI Bank Rubyx Credit Card

3.67% per month (44% per annum)

All other ICICI Bank Credit Cards 

3.40% per month (40.80% per annum)

What is ICICI Bank Credit Card Interest-Free Period

The period of time between the date of transaction and the credit card payment due date is known as the interest-free period. The interest-free period on ICICI Bank credit cards can range anywhere from 20 days to up to 50 days. 

 

Now, as long as you pay your outstanding dues within this interest-free period, you won’t have to pay any additional interest or finance charges. However, if you fail to pay your dues in full within the interest-free period, the outstanding dues will start to accrue interest. 

 

Here’s an example to help you better understand how the interest-free period works. 

 

Let’s say that your ICICI Bank credit card bill generation date is on June 23, 2022. The due date for payment of your credit card bill is August 12, 2022. You purchase a product worth Rs. 10,000 on June 24, 2022. In this case, the interest-free period for your credit card for this purchase would be 50 days (from June 24, 2022 to August 12, 2022).   

 

As long as you clear your dues of Rs. 10,000 within the interest-free period, i.e. on or before August 12, 2022, interest charges on your ICICI Bank credit card will not be levied. But what if you fail to make the payment on or before the stipulated due date? 

 

In that case, interest applicable for your credit card will be levied for the period starting from the date of transaction to the date of payment of the dues. 

 

That said, here’s something that you need to know. The interest-free period is only made available as long as you clear all your previous month’s dues in full. If there are any unpaid dues from the previous month, the interest-free period will not be granted to you. Instead, the ICICI Bank credit card interest rate will be applied right from the date of transaction to the date of payment of the dues. 

FAQs about ICICI Bank Credit Card Interest Charges

  • ✔️What is the interest rate on an ICICI Bank credit card?

    The interest rate applicable on an ICICI Bank credit card ranges from 2.49% to 3.67% per month.

  • ✔️What is the interest charged if I miss the due date?

    If you miss the due date for payment of your credit card bills, you will begin to accrue interest charges on your ICICI Bank credit card’s outstanding dues. The rate of interest starts from 2.49% per month and goes all the way up to 3.67% per month depending on the ICICI Bank credit card that you own. 

  • ✔️Do interest rates for ICICI Bank credit cards change frequently?

    The ICICI Bank credit card interest rates are subject to change from time to time at the discretion of the bank. However, the bank usually doesn’t change the interest rates frequently.