Axis Bank Credit Card interest calculation

If you have defaulted paying your AXIS Bank Credit Card bill, then following rules will be applied to calculate the interest for the defaulted amount in the next month bill:

• NO late payment fee charged if you have paid the minimum amount due
• 1) From transaction date to statement date (on transaction amount)
• 2) From Statement date till payment date (on outstanding balance)
• 3) From Payment date till next statement date (on balance amount)
• 4) From transaction date till the next statement date (fresh transaction)

For example: A customer Mr. A had done a transaction on January 17, 2008 of Rs.25, 000/- his statement due date for the same was February 14, 2008. Mr. A made a part payment for the same before the due date. However considering that the payment is not received in full Mr. A’s account is subject to interest charge from the transaction date i.e. from January 17, 2008 till the amount is paid in full.

2.95% per month rate of interest is applicable for AXIS BANK Credit Card whenever a part payment is being made and for any Cash Withdrawal. 

Please note, 12.36% service tax is charged on the debit interest.

Rate of interest @ 2.95% pm for Gold, Platinum cards, Signature card and Infinite card, 3.25% pm for Titanium and Silver cards and 1.95% pm for Easy Cards and staff card is applicable for your Axis Bank Credit Card whenever a part payment is being made.

Every credit card statement will consist of minimum amount due, which is 5% of total outstanding due. The minimum amount outstanding needs to be paid by card holder before due date to avoid any late payment charge.

NO charges will incur if you make full payment on or before due date against the outstanding due.  This is applicable even when you have defaulted for a month, next month bill is generated