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Rs. 200
- The minimum amount that customers have to pay on their HDFC Bank credit card is 5% of the outstanding amount or Rs. 200, whichever is higher.
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What is the minimum amount due on HDFC credit card?
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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.
- 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...- Residential status. The applicant should be a resident of India. Some lenders offer cards to Non-Resident Indians too.
- Age. This factor differs from lender to lender. The average age requirement for an applicant for all types of cards should be minimum 18 years old and maximum 70.
- Income. Applicant should either be self-employed or salaried person. He should have a regular source of income. Salary is a crucial deciding factor for credit cards.
- Bank account. Applicant should have a salary or savings bank account. Bank account history, like maintenance of minimum salary balance and no overdrafts, is important.
Jun 27, 2024 · What is the processing fee in HDFC credit card? The processing for HDFC credit cards may vary, depending upon the credit facility availed. The processing fee for Insta Loan, Jumbo Loan and Smart EMI on your HDFC credit card is Rs. 999+GST. However, for balance transfer on EMI, the fee is 1% of loan amount or Rs. 250, whichever is higher.
- The yearly fee on your HDFC credit card, may vary from one credit card to another. The fee may range from Rs. 500 to up to Rs. 12,500 or more. Annu...
- If you clear the minimum payment due on a credit card, you are exempted from paying the late payment fee. However, the interest charges will be app...
- The interest rate for HDFC credit cards generally ranges from 23.88% to 43.2% per annum. It is applicable on your credit card purchases, when you c...
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May 30, 2024 · What is the minimum amount due for HDFC Bank Credit Cards? The minimum amount that customers have to pay on their HDFC Bank credit card is 5% of the outstanding amount or Rs. 200, whichever is higher.
