There are millions of credit card users in India who enjoy great deals and offers on various brands. On the other hand, it also gives a huge credit limit to the individuals so that they can borrow some debt on their credit cards in an emergency. But some individuals fail to repay those debts before the due date and thus the bank implements late payment fees on their bills. So, you must be aware of the late payment charges of credit cards before not paying the bills before the due date. You will have to pay an extra amount on your credit card bills and it is known as the late payment charges. Let’s explore the credit card late payment fees of different banks.
Credit Card Late Payment Charges of Different Banks
In the table given below, you can see the minimum and maximum charges that will be charged by different banks if you don’t pay the credit card bill on time or after the due date.
| Credit Cards | Minimum Late Payment Charge | Maximum Late Payment Charge |
|---|---|---|
| SBI Credit Card | ₹400 for a Minimum Outstanding Balance of ₹501 | ₹1300 for a Minimum Outstanding Balance of above ₹50000. |
| HDFC Credit Card | ₹100 for a Minimum Outstanding Balance of ₹100 | ₹950 for a Minimum Outstanding Balance of above ₹25000. |
| ICICI Credit Card | ₹100 for a Minimum Outstanding Balance of ₹101 | ₹750 for a Minimum Outstanding Balance of above ₹10000. |
| Axis Bank Credit Card | ₹100 for a Minimum Outstanding Balance of ₹301 | ₹1200 for a Minimum Outstanding Balance of above ₹50000. |
| RBL Credit Card | ₹50 or 15% of the Due Amount | ₹1000 or 15% of the Due Amount |
| HSBC Credit Card | ₹250 or 100% of the Due Amount | ₹1200 or 100% of the Due Amount |
| Standard Chartered Credit Card | ₹100 for a Minimum Outstanding Balance of ₹101 | ₹800 for a Minimum Outstanding Balance of above ₹15000. |
| Citibank Credit Card | ₹450 for a Minimum Outstanding Balance of ₹1001 | ₹950 for a Minimum Outstanding Balance of above ₹10000. |
Other Details of Late Payments Fee of Different Banks
Now you must see the exact amount of the late payment fees that you will have to pay on a certain outstanding amount. If the outstanding amount is low then you will have to pay a low late payment fee. But if in case you have a high outstanding amount after the due date then your charges might increase.
SBI Credit Card Late Payment Fees
- NIL for the amount due between ₹0 to ₹500.
- ₹400 for the amount due between ₹501 to ₹1000.
- ₹750 for the amount due between ₹1001 to ₹10000.
- The charge is ₹950 for the amount due between ₹10001 to ₹25000.
- ₹1100 for the amount due between ₹25001 to ₹50000.
- ₹1300 for the amount due above ₹5000.
HDFC Credit Card Charges for Late Payment
- NIL for the amount due is less than ₹100.
- ₹100 for the amount due between ₹100 to ₹500.
- You will have to pay ₹500 for the amount due between ₹501 to ₹5000.
- The charge is ₹600 for the amount due between ₹5001 to ₹10000.
- ₹800 for the amount due between ₹10001 to ₹25000.
- The charge will be ₹950 for the amount due above ₹25000.
Late Payment Charges for ICICI Credit Card
- NIL for the amount due is up to ₹100.
- ₹100 for the amount due between ₹101 to ₹500.
- You will have to pay ₹500 for the amount due between ₹501 to ₹10000.
- The charge is ₹750 for the amount due above ₹10000.
Late Payment Fees for Axis Bank Credit Card
- NIL if the amount due is up to ₹300.
- ₹100 if the amount due is between ₹301 to ₹500.
- ₹500 for the amount due between ₹501 to ₹1000.
- The late payment charge is ₹750 for the amount due between ₹1001 to ₹10000.
- ₹950 if the amount due is between ₹10001 to ₹25000.
- The charge will be ₹1000 for the amount due between ₹25001 to ₹50000.
- The charge is ₹1200 for the amount due above ₹50000.
RBL Bank Credit Card Late Payment Charges
- 15% of the Minimum Amount due to a minimum of ₹50.
- 15% of the Minimum Amount due to a maximum of ₹1000.
HSBC Credit Card Charges for Late Payment
- 100% of the Minimum Amount due to a minimum of ₹250.
- 100% of the Minimum Amount due to a maximum of ₹1200.
Standard Chartered Credit Card Late Payment Fees
- Zero for the amount due is up to ₹100.
- The charge will be ₹100 for the amount due between ₹101 to ₹500.
- You will have to pay INR 500 if the outstanding amount is between ₹501 to ₹5000.
- ₹700 if the outstanding amount is between ₹5001 to ₹15000.
- The charge will be ₹800 for the amount due is above ₹15000.
Late Payment Fees for Citibank Credit Cards
- No Late Payment Fees will be applicable if the outstanding amount is up to ₹1000.
- ₹450 will be charged for the amount due between ₹1001 to ₹5000.
- The bank will charge ₹700 for the amount due between ₹5001 to ₹10000.
- The charge is ₹950 if the outstanding amount is above ₹10000.
Conclusion
You have seen the Late Payment Charges of Credit Cards that are offered by different banks. So, you must make sure that you pay the bills of your credit cards on time before the due date. If you have a high outstanding amount and you are paying it after the due date then it is obvious that you will have to pay high late payment fees. Now you can make an online payment of credit card bills to avoid the late payment charges. Once you are aware of the charges then you might improve the habit of paying the credit card bills after the due date.
