YES Bank Credit Card Interest Rate

YES Bank Credit Card Rate of Interest

**Disclaimer: YES Bank Credit Card is not a Bajaj Markets product. Offers would be from partner Banks/NBFCs only

 

The YES Bank credit card interest rate is the charge levied on the amount borrowed on your YES Bank credit card. However, this is only if you fail to clear the total outstanding dues before the payment due date. The interest charges you must pay will vary depending on the YES credit card you own. Some of the top YES Bank credit cards and their respective interest rates are mentioned below:

How is YES Credit Card Interest Rate Calculated

YES Bank credit card interest rate calculation is done by considering several factors. Once the bank decides the rate, it charges you according to the decided interest rate on your YES Bank credit card based on usage. The formula used for calculating the total interest charges in a month is:

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:

Minimum Amount Due Not Paid

If you do not pay the minimum amount due, i.e. ₹1,000 by 26.05.2022, then the YES Bank credit card interest rate will be levied on the outstanding balance on a day-to-day basis from the transaction date to the repayment date. You will also be required to pay an additional late payment fee.

Partial Payment Made

If you pay 50% of the outstanding bill, i.e. ₹10,000 on 21.05.2020 and do not make any new spends till the next statement generation date (06.06.2022), they will charge you on the outstanding amount from the transaction date to the date of partial payment, as well as the interest accumulated on the remaining balance from the date of partial payment to the date of next statement generation. The sum of these two charges is known as interest accrued.

 

i) Interest charges on the total dues from the transaction date to the partial payment date:

(Count of days from the transaction date to the payment date x Total outstanding balance x Interest Rate per annum) ÷ Days in a year

(21x 20,000 x 42.00%) ÷ 365 = ₹483.29

 

ii) Interest charges on the pending dues the date of partial payment to the date of next statement generation:

(Count of days from the date of partial payment to the next statement generation date x Pending amount x Interest rate per annum) ÷ 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)

Which YES Bank Credit Card Transactions Attract Interest Charges

Interest charges on your YES Bank credit card are levied under the following circumstances:

 

• You pay less than or only the minimum amount due on your YES 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 and have to pay YES Bank credit card EMI interest rate

• You make certain international transactions that attract interest charges

YES Credit Cards Interest-Free Period

As the name suggests, the 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 credit card expenses. On a YES Bank credit card, you get a significant interest-free period of 50 days. Therefore, the actual interest-free days you get to enjoy varies based on the date of purchase and the YES Bank credit card statement generation date.