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The YES Bank credit card’s interest rate is the charge levied on the amount you borrow on your credit card. However, this is applicable if you fail to clear the total outstanding dues before the due date. The interest charges you must pay will vary depending on the YES Bank’s credit card you own.

Here are some popular credit cards and their respective interest rates:

 Credit Cards Rate of Interest YES Bank MARQUÉE Credit Card 2.99% per month (35.88% p.a.) YES Bank First Preferred Credit Card 3.80% per month (45.6% p.a.) YES Bank ELITE+ Credit Card 3.80% per month (45.6% p.a.) YES Bank SELECT Credit Card 3.80% per month (45.6% p.a.) YES Bank ACE Credit Card 3.80% per month (45.6% p.a.) YES Prosperity Cashback Plus Credit Card 3.80% per month (45.6% p.a.) YES Prosperity Rewards Credit Card 3.80% per month (45.6% p.a.) YES Prosperity Cashback Credit Card 3.80% per month (45.6% p.a.)

## How is the YES Bank Credit Card’s Interest Rate Calculated

YES Bank calculates credit card interest rates based on several factors. Once determined, the bank applies this rate to your YES Bank credit card usage. A specific formula determines your monthly interest charges. This formula consists of the daily balance and the applicable interest rate. It then helps determine the total interest charges for the month.

YES Bank credit card finance charges = (Total outstanding amount x Monthly Interest Rate x 12 months x number of days) ÷ 365 days

To understand this, let’s take an example:

 Description Details YES Bank Credit Card Rate of Interest 42.00% p.a. Transaction Date 01/05/2024 Purchase Amount ₹20,000 Credit Card Statement Generation Date 05/05/2024 Total Amount Due ₹20,000 Minimum Amount Due ₹1,000 Payment Due Date 26/05/2024 Next Credit Card Statement Generation Date 06/06/2024

Let’s understand this with the help of scenarios:

• ### Minimum amount due not paid

If you do not pay the minimum amount due of ₹1,000 by 26/05/2024, YES Bank will charge interest. This interest applies to the outstanding balance on a daily basis. It starts from the transaction date until the repayment date. Additionally, a late payment fee will be applied.

If you pay 50% of the outstanding bill (₹10,000) on 21/05/2024, they will charge interest in two parts, provided you make no new spends until the next statement date (06/06/2024).

First, they will charge interest on the outstanding amount from the transaction date. This continues until the date of partial payment.

Second, they will charge interest on the remaining balance. This charge applies from the date of partial payment to the next statement date. The total of these charges is known as interest accrued.

1. Interest charges on the total dues from the transaction date to the partial payment date:

(Number of days from the transaction date to the payment date x Total outstanding balance x Annual interest rate) ÷ Days in a year

(21x 20,000 x 42.00%) ÷ 365 = ₹483.29

2. Interest charges on unpaid balance from the date of partial payment to the next statement generation date:

(Number of days from the date of partial payment to the next statement generation date x Pending amount x Annual interest rate) ÷ Days in a year

(15 x 10,000 x 42.00%) ÷ 365 = ₹172.60

Therefore, interest accrued to be paid is = ₹655.89 (₹483.29 + ₹172.60)

## Applicable Conditions for YES Bank Credit Card’s Interest Charges

Interest charges on your YES Bank credit card apply in the following situations:

• You pay less than or only the minimum amount due on your YES Bank credit card

• You do not clear the total dues on your YES Bank credit card statement

• You use the YES Bank credit card cash withdrawal service

• You make certain international transactions that attract interest charges

## YES Bank Credit Cards - Interest-free Period

The interest-free period is the time from the transaction date to the payment due date. During this period, the bank does not charge interest on your credit card expenses. The actual number of interest-free days varies. It depends on the purchase date and the statement generation date.

### What is the YES Bank credit card interest-free period?

The YES credit card interest-free period is the time between the transaction date and the payment due date when the bank does not levy interest charges on your expenses.

### How is the YES Bank Card interest-free period calculated?

When calculating the YES Bank card interest-free period, the bank considers your date of purchase and the statement generation day. For example, if your statement generation date is the 15th day of the month and the payment due date is the 4th of the next month, and you make purchases on the 15th, you will get a 20-day, interest-free period (up till the due date). However, if you make purchases on the 16th, you will get the total interest-free period, i.e. 30 days billing cycle and 20 days till the next payment due date.

### What can I do if the total amount due on my YES Bank Credit Card is due to high interest rates?

Paying your credit card bill in full and not paying only the minimum amount can help you avoid interest charges against your purchases. Do note that failure to pay your credit card bill for consecutive months can lead to YES Bank credit card cancellation.

### What is the formula for calculating the YES Bank credit card interest charge?

The following formula can help calculate credit card finance charges:

Interest charges on YES Bank credit card = (Total outstanding amount x Monthly Interest Rate x 12 months x number of days) / 365 days

### How to reduce YES Bank finance charges?

If you have a salary or a savings account with YES Bank, the bank might consider reducing the interest rate on your YES Bank credit card.

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