HDFC Bank, the biggest private sector bank in India, has revised its terms and conditions for credit card holders. The new rules will take effect from August 1, 2024.
The revised rules are:
The rental transactions made through third-party payment apps such as PayTM, CRED, MobiKwik, and Cheq will be charged 1 per cent fee on the transaction amount. The payments are capped at ₹3,000 per transaction.
Transactions below ₹50,000 will not attract any additional fees. However, for transactions above ₹50,000, a 1 per cent fee will be incurred. There is a cap of ₹3,000 per transaction. Insurance transactions are, however, exempted from these fees.
There will be no additional fees for transactions below ₹15,000. For transactions exceeding ₹15,000, a 1 per cent fee will be charged on the entire amount. There is a cap of ₹3,000 per transaction.
Transactions made directly through college or school websites and their POS machines will be fee -free.Transactions made by third party apps such CRED, PayTM will incur 1% fee. A cap of ₹3000 per transaction will be applicable. International educational payments are excluded from this charge.
For all the international or cross currency transactions , a markup fee of 3.5% will be levied.
Revised late payment charges.
The late payment fee structure has been revised ranging from ₹100 to ₹300 based on outstanding amounts.
A redemption fee of ₹50 will be charged on customers redeeming rewards on statement credit or cashback.
Customers using revolving credit facilities will be charged of 3.75% per month. It will be applicable from the transaction date until the outstanding balance is fully paid.
For availing Easy-EMI option at any online or offline store, customers will incur an EMI processing fee of up to ₹299.
In addition,HDFC Bank has changed rules for Tata Neu Infinity and Tata Neu Plus credit cards effective from August 1, 2024. Users of the Tata Neu Infinity and HDFC Bank credit card will receive 1.5% NeuCoins on eligible UPI transactions made using Tata Neu UPI ID.Transactions made via other eligible UPI IDs will get 0.50% NeuCoins. Card holders of the Tata Neu Plus HDFC Bank Credit Card will get 1% NeuCoins on eligible UPI transactions using Tata Neu UPI ID, and 0.25% NeuCoins on transactions using other eligible UPI IDs.
