YES Bank Credit Cards’ Interest Rate

Know the YES Bank credit cards’ rate of interest and learn how they are calculated. Get detailed information on rates for popular credit cards by the bank.

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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.

Partial payment made

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 choose EMI as your payment option through your card
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.

Disclaimer

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

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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.