Fees & Interests

Fees

Annual Fee: Yearly fee charged towards issuing and maintaining your credit card. The annual fee (if any) is levied at the time of opening your card account and charged every 12 months.
Add-On Card Fee: Yearly fee charged towards issuing and maintaining each add-on card issued to you. The add-on card fee is charged in the month the add-on card is issued and is charged every 12 months thereon.
Late Payment Fee: Penalty amount charged to your card in case you do not pay the minimum amount due by payment due date.
Cash Advance Fee: Charged if you use your card to affect a cash advance. This fee is a usually a percentage of the amount of cash advance utilized.
Cheque Related Fee: There are two kinds of fee:
- Cheque Returned Fee which is the cost the Bank has to bear if your cheque is not encashed and is returned due to insufficient funds.
- Outstation Cheque Clearing Fee which is related to the cost that the Bank has to bear if your cheque is drawn on a bank branch located in different city and has to be sent for outstation clearing.
Over limit Fee: The Bank will charge an over limit fee in case you spend more than the credit limit on your card.
Other Fee: There is a small fee applicable towards administration expenses incurred by the Bank for certain services i.e. replacement of card, reissue of PIN, sending of duplicate statements, change of card to photo card, change of reward plan, change of picture etc.

Interests

Purchases: Interest will be charged to your account on the full outstanding balance (including previous and pending interest), if the total amount due is not paid before the due date. Also if the balance is not paid in full, all fresh purchases will attract interest from the day of the transaction.
Cash Advances: In case you use cash advance against your card, the interest will be charged from the day of the transaction, till the cash advance is paid back in full. There is no interest free period in case of cash advance transactions.