Bajaj Finserv RBL Bank Credit Card Interest Rate

Bajaj Finserv RBL Bank Credit Card Interest Rate

The monthly Bajaj Finserv RBL Bank Credit Card interest rate is at an APR of up to 3.99%, excluding the GST. Such a rate will be applicable in the below-mentioned scenarios-

• Cash withdrawals on your Bajaj Finserv RBL Bank credit card are charged from the transaction date to the date of repayment. (look out for the interest-free cash withdrawal window)

• As the Bajaj Finserv RBL Bank Credit Card interest rate is applied on the total outstanding bill from the transaction date, partial clearing the dues does not eliminate the interest charges; hence, the remaining bill accrues interest charges till the next due date

• Carrying the outstanding amount into the next statement cycle will also incur interest rate on Bajaj Finserv RBL Bank credit card bill.

Interest Rate of Top 5 Bajaj Finserv RBL Bank Credit Cards

The Bajaj Finserv RBL Bank Credit Card interest rate on some of the top cards is mentioned below-

 

How is Bajaj Finserv RBL Bank Credit Card Interest Rate Calculated?

The interest rate on Bajaj Finserv RBL Bank Credit Card bill can be entirely avoided within the interest-free window, which ranges between 20 days and 50 days based on the credit card scheme that you opt for. However, failing to clear the full outstanding amount on the credit card in the previous payment cycle would do away with the benefit of the interest-free period on new purchases made using the card.

(Total number of days since the date of the transaction x Total outstanding bill amount x Bajaj Finserv RBL Bank Credit Card Interest rate per month x 12 months) / 365

To understand this better, let us consider a sample scenario-

 

Which Bajaj Finserv RBL Bank Credit Card Transactions Attract Interest Charges?

The interest rate charged on your Bajaj Finserv RBL Bank Credit Card may go up to 47.88% p.a., which works out to 3.99% per month, excluding the GST. However, your credit card interest rate could also differ based on the type or category of credit card, your relationship with the bank, how you use the credit card, etc.

Besides being unable to pay your total due amount, there are some other Bajaj Finserv RBL Bank Credit Card activities that could attract hefty interest rate on Bajaj Finserv RBL Bank Credit Card, like:

• Withdrawing cash from your Bajaj Finserv RBL Bank Credit Card

• Paying only the minimum due bill for the month and carrying the rest of your Bajaj Finserv RBL Bank Credit Card bill into the next billing cycle.

• Using your credit card in an international location could also attract additional interest rates on Bajaj Finserv RBL Bank Credit Cards.

• Unable to pay even the minimum due amount in time, leading to late fees and various other charges levied by RBL Bank.

Bajaj Finserv RBL Bank Credit Card Interest-free Period

The interest-free period offered by RBL Bank can be anywhere between 20-50 days, depending on the original date of your transaction. You can avail this feature every month, if and only if your previous month’s total outstanding bill is paid fully.

Customers who pay their total outstanding amount within this credit period offered by RBL Bank have essentially enjoyed the credit facility for that month at zero percent interest rate.