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Credit card finance charges in India: A Premier
Hi,

My total outstanding is 19000/- if i pay 10000 during the due date and balance rs.9000 will be paid next month means how will i occure interest .

thanks
Praveena
sasikumar (Posted: Jan 29, 2015)
sir any late fee below 600 what is maxium charge a card holder pay by next month, banks are cheating by chage ing by late payment
sajjanbarlota (Posted: Nov 20, 2014)
Credit cards are very useful as when we are on tour or travel if we run out of cash then we can take credits from bank.Thank.
credit history
credit history (Posted: Mar 6, 2014)
Hi, I am planning to borrow credit card to purchase a two wheeler cost is 80k. I have plan to finish the amount by 4 to 5 months.
Can you please suggest me is this better plan than going for EMI because i don't want to pay emi.
Will i save any money if I go thru Credit card. Please suggest.
Vikram Nayak (Posted: Nov 28, 2013)
Sir,m apne father k hdfc credit card ko use krna chahta hu .m 140000rs.nikalna chahta hu 55days k liye .kya is amount pr koi interest lgega ya nhi .or ye kaise nikale jayenge.pls tell m immediately sir
dinesh nehra (Posted: Nov 27, 2013)
Thanks Neelima. This same thing was indicated in the HDFC card terms and condition found online which I have checked post reading this. They quote the same example as you have. I\'ll also point out that this kind of explanation is not given online in the terms and conditions or the schedule of charges for any other bank.
Shashank Shekar (Posted: Jan 9, 2013)
Many thanks for explaining in very detailed manner. Very helpful..
Anitha Pathipati (Posted: Nov 22, 2012)
HI I havetaekn as cash loan from HDFC credit card. I will be paying Emi fro next 12 months. I justwasnted to know do i have to pay Servcie tax and Cess Tax every month. As i not paying any on the other personal loan i am paying ever month
Shubhakar (Posted: Sep 12, 2012)
Hi,
I've just been reading your article and I am afraid your calculation of annual interest is incorrect.

Your formula assumes 12 x monthly interest e.g. 12 x 2.65% = 31.8%, which is incorrect.

If you started with a balance of 100 rupees, then after one month, the balance would be 100 x 1.0265 = 102.65 rupees. In the second month, you would be charged 2.65% on the 102.65, in other words, the interest compounds month on month.

Hence the true annual interest rate is obtained by multiplying 1.0265 12 times which equals an annual interest rate of 36.87%, not 31.8% as you calculate.

I hope this helps.
Adrian (Posted: Jun 26, 2012)
THanks a lot
Arunesh (Posted: Feb 25, 2012)
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