HDFC Bank Credit card late payment charges changing from 1st April

USNMix Report: Do you use HDFC credit card? 
This rule is changing from 1st April.

Since April 1, the bank is revising the late payment charge.

In terms of market capitalization, the country's largest private bank HDFC is going to change the rules regarding credit card from April. The bank has alerted its credit card customers about the changes in the rules. According to the report, the bank alert says that it is revising the late payment charge from April 1. He warned the customers that they do not ignore the due date given in the statement. Pay from time to time. 

Charging on these cards HDFC Bank imposes a charge on late payment on all its credit cards except for Infinia Card. These are different depending on the outstanding balance. However, the bank gives a grace period of 45 to 51 days to the customer, in which the outstation is to be filled in the period when purchasing it from the card. During this time the bank does not charge interest or charge. But in the statement, there is a strong charge after crossing due date.

After 1 April it will take charge

Statement Balance: Between 501 to 5000

Late payment charge: 500 rupees

Statement Balance: Between 5001-10000

Late payment charge: Rs 600

Statement balance: between 10000 to 25000 rupees

Late Payment Charge: Rs 800

Statement Balance: Above Rs.25000

Late Payment Charge: Rs 950

What is Due Date?

Any bank charges a late payment charge when the customer is unable to pay even minimum amount. Minimum Due Amount is 5 percent of total outstanding total. According to HDFC Bank, if customers have to keep their credit scores high then they should pay credit card outright on time.