Bajaj Finserv RBL Bank Credit Card Interest Rate

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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-

Card Name

Bajaj Finserv RBL Bank Credit Card Interest Rate

Bajaj Finserv RBL Bank Platinum Plus SuperCard

Up to 3.99% (plus GST) per month or 47.88% (plus GST) per annum

Bajaj Finserv RBL Bank Travel Easy SuperCard

Up to 3.99% (plus GST) per month or 47.88% (plus GST) per annum

Bajaj Finserv RBL Bank Platinum Choice First-Year-Free SuperCard

Up to 3.99% (plus GST) per month or 47.88% (plus GST) per annum

Bajaj Finserv RBL Bank Shop Smart SuperCard

Up to 3.99% (plus GST) per month or 47.88% (plus GST) per annum

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-

Transaction Date

01.07.2020

Amount Transacted

INR 10,000

Statement Date

06.07.2020

Minimum Amount Due (usually 5 per cent of purchase amount)

INR 500

Total Amount Due

INR 10,000

Amount Due Date

26.07.2020

Interest Rate on unpaid Credit Card Bill

3.99 per cent per
month (plus GST)

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.

FAQs about Interest Rate on Bajaj Finserv RBL Bank Credit Card

  • ✔️What is the interest rate on an Bajaj Finserv RBL Bank Credit Card?

    The minimum monthly Bajaj Finserv RBL Bank Credit Card interest rate is at an APR of up to 3.99%, excluding the GST.

  • ✔️How to calculate Interest rate on Bajaj Finserv RBL Bank Credit Cards?

    The Bajaj Finserv RBL Bank Credit Card interest rate can be calculated with the help of this formula - (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

  • ✔️How is the interest rate charged on cash advances?

    RBL Bank charges a monthly interest rate on cash advances, right from the date of withdrawal until the amount is paid in full by the card holder.

  • ✔️What happens if I have a high credit card bill due to high interest rate and I’m unable to pay it?

    If the interest rate of Bajaj Finserv RBL Bank Credit Card holder is high and the holder defaults on card payment, then a bank representative gets in touch with them to remind them of their payment. However, if the card holder is unable to pay even the minimum due amount then their Bajaj Finserv RBL Bank Credit Card would be blocked.

    Additionally, RBL also holds rights to report such customers to the Credit Information bureau, and this can have a negative impact on your credit score too.