Late payment fees of top credit cards of various banks.

Credit card finance charges are generally computed using the Average Daily Balance method, meaning interest is compounded on a daily basis. It’s important for cardholders to understand that missing a payment deadline also renders new transactions ineligible for the interest-free period. Consequently, any new transactions will be added to the overall balance, and interest will be compounded daily until the balance is fully paid off.

Late payment charges

Late Payment charges will be applicable if minimum amount due is not paid by the payment due date.

  • NIL for Outstanding Amount on payment date from Rs.0-Rs.500
  • Rs. 400 for Outstanding Amount greater than Rs. 500 & up to Rs. 1000;
  • Rs. 750 for Outstanding Amount greater than Rs. 1000 & up to Rs. 10,000;
  • Rs. 950 for Outstanding Amount greater than Rs. 10,000 up to Rs. 25,000;

a cardholder makes partial payment, can a card-issuer charge interest/levy late payment charges on the total amount due?


In case a cardholder does not clear the total amount due within the payment due date, interest free credit period will be lost, and interest may be levied from the date of transaction on the outstanding amount .

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