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  2. Oct 5, 2023 · The minimum amount due is typically a fraction of the total outstanding Credit Card bill payment amount, usually ranging from 5% to 10% of the total amount due.

  3. You can either pay the full bill amount or pay the minimum amount due (let’s assume this as 5% of the Credit Card bill amount). If you chose the former option, your credit limit will be restored. If you pay only the minimum amount due, i.e., ₹500, your outstanding will be ₹9,500 (₹10,000 – ₹500).

    • Difference Between Total Amount Due and Minimum Amount Due on HDFC Credit Card
    • How to Calculate HDFC Credit Card Minimum Amount Due
    • What Happens When I Pay only The Minimum Amount Due on My HDFC Credit Card?
    • What Happens When I Don't Pay The Minimum Amount Due on My HDFC Credit Card?
    • How to Avoid Late Payment Charges
    • FAQs on HDFC Credit Card Minimum Amount Due

    The difference between the total amount due and the minimum amount due is simple to understand. While the total amount due is equal to your total expenditures on the card in any particular billing cycle, the minimum amount due is just a small percentage of the total amount spent. If you opt to pay the total amount due on your card, you don't need t...

    The minimum amount due on your HDFC credit card is 5% of the total outstanding amount on the card or Rs.200, whichever is higher. Also, if there are any EMIs or unpaid dues from the previous statements, those will be added to your current outstanding and hence your minimum amount due also increases. You will be able to see it on your monthly credit...

    As already explained, paying the minimum amount due is just ensuring that you don't need to pay any late payment charges. However, you would still have to pay interest on the balance amount. On paying the minimum amount due, the balance outstanding will be carried to your subsequent statements. Do bear in mind that the minimum amount due or any pay...

    If you fail to pay even the minimum amount due on your HDFC credit card, you will be charged a late payment fee that would be added to your next statement. The late payment charge depends on the total outstanding on the card. Also, if you continue to default on payments, you will be sent reminders by the bank from time to time to settle the payment...

    The effect of late payments on your credit score can be negative. However, this can be avoided by keeping the following points in mind: 1. Create reminders for payments:To help you remember when your credit card is due, you can use electronic reminders like email alerts or mobile notifications. This helps you in sticking to your payment schedule. 2...

    What are the ways to pay the minimum amount due on my HDFC credit card? You can pay the minimum amount due on your HDFC credit card through HDFC credit card net banking, mobile banking apps or even...
    Is paying the total amount outstanding always better than paying only the minimum amount due? Always try to pay the total amount due on your credit card. If that's not possible, pay the closest amo...
    How much more do I end up paying if I continue to pay only the minimum amount due on my HDFC credit card? The final amount depends on several factors like the total outstanding amount and the durat...
    Does the minimum amount due also include the loan that I have on my HDFC Bank credit card? If you have any existing loan on your credit card, the minimum amount due would include the EMI on that lo...
  4. Minimum Repayments. Minimum repayments as the name suggests, is repaying the very least amount on your debt each month which is 5% of statement balance. A failure to this payment will lead to a late payment charge and you might run the risk of damaging your Credit Card rating. Easy EMIs.

  5. Why do you need to maintain a minimum balance in your account? It is important to keep a balance in your account that is above the minimum balance requirement, to avoid getting charged unnecessarily. The charges for not maintaining the minimum balance in your account depend on your account type.

  6. Aug 17, 2022 · Minimum Payment Due’ basically refers to the small fraction of the total outstanding bill amount that you must mandatorily pay to the bank in case you are not able to pay the entire bill amount. Explained below are a few features- How is the Minimum Amount Due Calculated?