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Understanding the various HDFC credit card fees is essential for managing your credit responsibly. This guide details the common charges you might encounter, including interest rates, cash withdrawal fees, annual fees, forex markups, late payment penalties, and other associated costs, ensuring you have a clear picture of what to expect.
HDFC Credit Card Interest Rates (Finance Charges)
Interest rates, also known as finance charges, apply when you do not pay your full outstanding credit card bill by the due date. These charges are also levied on cash withdrawals, partial bill payments, and any outstanding amount carried forward to the next billing cycle. HDFC credit card interest rates generally range from 23.88% to 45% per annum, varying based on the specific card.
Interest Rates for Popular HDFC Credit Cards
| HDFC Credit Card | Interest Rate per Month | Interest Rate per Annum |
|---|---|---|
| HDFC Diners Club Black Credit Card | 1.99% | 23.88% |
| HDFC MoneyBack Credit Card | 3.75% | 45% |
| HDFC Regalia Credit Card | 3.75% | 45% |
| HDFC Millennia Credit Card | 3.75% | 45% |
| IndianOil HDFC Credit Card | 3.75% | 45% |
| HDFC Business Gold Credit Card | 3.49% (1.99% if against Fixed Deposit) | 41.88% (23.88% if against Fixed Deposit) |
Understanding the Interest-Free Period
HDFC credit cards offer an interest-free period of up to 50 days, calculated from your last statement date to the current due date. The actual number of interest-free days you receive depends on your transaction date within the billing cycle. Transactions made earlier in the cycle typically enjoy a longer interest-free period than those made closer to the statement generation date.
How HDFC Credit Card Interest is Calculated
When finance charges apply, HDFC Bank calculates interest on a daily reducing balance method. This means interest is charged on the entire transaction amount from the date of the transaction until the payment is made in full. If you make a partial payment, interest is calculated on the full amount up to the payment date, and then on the remaining outstanding balance from the day after your payment until the next statement generation date.
HDFC Credit Card Cash Withdrawal Charges
Withdrawing cash from an ATM using your HDFC credit card incurs a cash advance fee. This is a one-time charge, but it’s important to remember that finance charges also apply immediately from the date of withdrawal, as there is no interest-free period for cash advances. The cash withdrawal fee for HDFC credit cards is typically 2.5% of the withdrawn amount or a minimum of ₹500, whichever is higher.
Your credit card usually has a cash limit, which is a percentage of your total credit limit (often around 40%). For instance, if your credit limit is ₹2 lakh and the cash limit is 40%, you can withdraw a maximum of ₹80,000. Due to the high charges, using your credit card for cash withdrawals is generally very expensive and should only be considered in urgent situations.
Annual and Renewal Fees for HDFC Credit Cards
HDFC credit cards typically come with a joining fee, charged upon card issuance, and an annual or renewal fee, charged at the completion of each card anniversary year. These hdfc credit card charges vary significantly depending on the card category, with entry-level cards having lower fees and premium cards incurring higher costs. Many cards also offer annual fee waivers based on a minimum spending threshold within the year.
Annual Fee Waiver Conditions for Popular HDFC Credit Cards
| HDFC Credit Card | Annual Fee | Waiver Condition (Annual Spend) |
|---|---|---|
| HDFC MoneyBack+ Credit Card | ₹500 + Applicable Taxes | ₹50,000 or more in a year |
| HDFC Millennia Credit Card | ₹1,000 + Applicable Taxes | ₹1 Lakh or more in a year |
| HDFC Regalia Credit Card | ₹2,500 + Applicable Taxes | ₹3 Lakh or more in a year |
| HDFC Regalia Gold Credit Card | ₹2,500 + Applicable Taxes | ₹4 Lakh or more in 12 billing cycles |
| HDFC Diners Club Privilege | ₹2,500 + Applicable Taxes | ₹2 Lakh or more in a year |
| HDFC Diners Club Black | ₹10,000 + Applicable Taxes | ₹5 Lakh or more in a year |
| HDFC Infinia Credit Card | ₹12,500 + Applicable Taxes | ₹10 Lakh or more in a year |
| HDFC Business Gold Credit Card | ₹500 + Applicable Taxes | ₹50,000 or more in a year |
Foreign Currency Transaction (Forex) Charges
A foreign currency markup fee, or forex charge, is applied to transactions made in a foreign currency. This includes retail purchases outside India, online transactions in international currencies, overseas ATM cash withdrawals, and even domestic transactions at POS machines linked to overseas accounts (like Duty-Free shops). The standard forex markup fee on most HDFC credit cards is 3.5% of the transaction value.
HDFC Credit Cards with Lower Forex Markup
Some HDFC credit cards offer a reduced forex markup rate, making them more suitable for international travel or foreign currency spending:
| HDFC Credit Card | Forex Markup Fee |
|---|---|
| HDFC Regalia Gold Credit Card | 2% of the transaction value |
| HDFC Regalia Credit Card | 2% of the transaction value |
| HDFC Diners Club Privilege | 2% of the transaction value |
| HDFC Infinia Credit Card | 2% of the transaction value |
| 6E Rewards XL – Indi-Go HDFCBank Credit Card | 2.5% of the transaction value |
| Diners ClubMiles Credit Card | 3% of the transaction value |
HDFC Credit Card Late Payment Charges
Late payment charges are applied if you fail to pay even the minimum amount due on your HDFC credit card by the specified due date. This is a flat fee, determined by the total outstanding balance on your card. Paying at least the minimum amount due can help you avoid these specific hdfc credit card charges, though finance charges will still apply to the remaining outstanding balance.
Late Payment Fee Structure
| Total Outstanding Amount | Late Payment Charge |
|---|---|
| Up to ₹100 | Nil |
| From ₹101 to ₹500 | ₹100 |
| From ₹501 to ₹1,000 | ₹500 |
| From ₹1,001 to ₹5,000 | ₹600 |
| From ₹5,001 to ₹10,000 | ₹750 |
| From ₹10,001 to ₹25,000 | ₹900 |
| From ₹25,001 to ₹50,000 | ₹1,100 |
| More than ₹50,000 | ₹1,300 |
HDFC Credit Card Balance Transfer Fees
If you choose to transfer an outstanding credit card balance from another bank’s card to your HDFC credit card, a balance transfer processing fee is applicable. This fee is typically 1% of the balance transfer amount or ₹250, whichever is higher, plus applicable taxes. The interest rate on the transferred balance is determined by the bank’s internal policies at the time of the transfer.
HDFC Credit Card Overlimit Fee
The overlimit fee is charged if your spending exceeds the credit limit assigned to your HDFC credit card. This fee is 2.5% of the overlimit amount, subject to a minimum of ₹550. It’s important to note that this fee is not applicable to the HDFC Bank Infinia (Metal Edition) credit card. Additionally, the overlimit facility is not offered on the Paytm HDFC Bank Digital Credit Card, so no charges apply for that specific card.
Other HDFC Credit Card Fees and Charges
Beyond the primary fees, several other minor hdfc credit card charges may apply depending on your card usage and services availed. Remember that GST @18% is applicable on all fees, interest, and other credit card charges.
| Fee Type | Amount |
|---|---|
| Add-on Card Fee | Lifetime free |
| Payment Return Charges | 2% of the payment amount, minimum ₹450 |
| Cash Processing Fee | ₹100 |
| Rewards Redemption Fee | ₹99 per redemption request |
| Duplicate Physical Statement Charges (excluding Infinia, Infinia (Metal Edition), Diners Black) | ₹100 per duplicate physical statement |
| Railway Ticket Purchase Fee | 1% of the transaction amount + GST |
| Rent Pay Transactions | 1% fee on transaction amount |
| Reissue of Lost, Stolen, or Damaged Card | ₹100 |
| Dynamic Currency Conversion Markup Fee | 1% |
| Processing Fee for Insta Loan, Jumbo Loan, Smart EMI | ₹999 + GST |
| Processing Fee for Balance Transfer on EMI | 1% of the loan amount or ₹250, whichever is higher |
Familiarising yourself with these various HDFC credit card fees and charges can help you avoid unexpected costs and make informed decisions about your credit card usage. Always refer to the Most Important Terms & Conditions (MITC) for the most current and detailed information specific to your card.
Frequently Asked Questions About HDFC Credit Card Fees & Charges
What is the typical annual fee for an HDFC credit card?
The annual fee for an HDFC credit card varies widely, typically ranging from ₹500 for entry-level cards to ₹12,500 or more for premium cards. Some cards may also be offered as ‘lifetime free’ without any annual fee.
How are finance charges applied if I pay the minimum amount due on my HDFC credit card?
Paying the minimum amount due will prevent you from incurring late payment charges. However, finance charges (interest) will still be applied to the remaining outstanding balance, calculated from the transaction date, until the full amount is settled.
What is the standard interest rate on HDFC credit cards?
HDFC credit card interest rates generally range from 23.88% to 45% per annum. This rate is applied to outstanding balances, cash withdrawals, and new transactions if previous dues are not cleared in full by the due date.
What are the processing fees for specific facilities like Insta Loan or Balance Transfer on HDFC credit cards?
For facilities like Insta Loan, Jumbo Loan, and Smart EMI, the processing fee is ₹999 plus GST. For balance transfers on EMI, the fee is 1% of the loan amount or ₹250, whichever is higher, plus applicable taxes.
Does GST apply to HDFC credit card charges?
Yes, Goods and Services Tax (GST) at 18% is applicable on all HDFC credit card fees, interest, and other charges levied by the bank.