Business

HDFC Will Raise Fee On Late Credit Card Bill Payment

NEWS WORLD INDIA | 0
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| March 4 , 2019 , 23:40 IST

HDFC will bring new policy on credit card late bill payment. The policy will come into effect from 1 April 2019.

According to the media reports, HDFC will hike the late-fee charges on credit cards. The late fee charges will be placed according to the rate card as follows :

Statement balance      Till March 31, 2019  From April 1, 2019

Less than Rs 100                   Nil                              Nil

Rs 100 to Rs 500                 Rs 100                      Rs 100

Rs 501 to Rs 5,000              Rs 400                      Rs 500

Rs 5,001 to Rs 10,000         Rs 500                       Rs 600

Rs 10,001 to Rs 25,000       Rs 750                       Rs 800

More than Rs 25,000           Rs 750                       Rs 950

The private lender, in its notification, said that the credit card holders can also opt for the revolving credit facility.

ALSO READ:SBI, ICICI Bank, HDFC Bank, Yes Bank Reveals Their New Fixed Deposit Interest Rates

That is, the card member can choose to only pay the Minimum Due Amount and the outstanding credit amount will be carried forward. The minimum amount due should be paid by the due date to avoid late payment fee.

Whereas, State-run power giant NTPC has signed an agreement with HDFC Bank for a Rs 2,500 crore loan to part finance capital expenditure.

The loan agreement was signed by A K Gautam, Executive Director (Finance), NTPC and Raveesh Bhatia, Regional Head, Corporate Banking, HDFC Bank in the presence of other officials.

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