Credit card late payment charges in India, bank by bank

How much is the late fee on my card?

It depends on your bank and how much you owe. Most large banks use slabs, so the fee rises with your unpaid balance. A few charge a flat fee or a percentage. Find your bank below, and open the source to read the bank's own wording.

522 of 562 open cards, from 37 banks. 40 open cards have no figure here because we did not find one. Rows marked Not confirmed are figures we could not check against the issuer document, so check with the bank.

What would I pay on my balance?

The same unpaid balance costs very different amounts by bank. On Rs 30,000, Canara Bank charges Rs 250 while RBL Bank charges Rs 1,300. These figures come from each bank's current document and exclude GST.

Worked out from each bank's slabs for standard cards. RBL charges 12.5% of the outstanding amount, up to Rs 1,300. Add 18% GST to each figure.

When does the late fee start?

A bank can charge a late fee only once your account has been past due for more than three days, under the RBI's card directions. If your bill is due on the 10th and still unpaid after the 13th, the fee can apply. Once it does, the days are counted from the due date itself.

The money has to reach the card account in time. HDFC and Axis both say clear funds must be credited on or before the due date, so a payment you started on the due date may not count if it posts later. Leave time for it.

The three days protect you from the late fee and from being reported as past due. They do not protect your interest-free period, which is covered below.

Does paying part of the bill reduce the late fee?

Yes. The RBI says the fee can be charged only on what is still outstanding after the due date, adjusted for payments and refunds, and not on the total amount due. So a part payment before the due date can drop you into a lower slab.

Paying at least the minimum amount due avoids the late fee altogether at HDFC, SBI and Axis, whose documents tie the fee to missing the minimum. You still pay interest on the rest. Our guide on paying only the minimum due works through that cost.

Is the late fee the only cost?

No, and it is often not the largest. If you do not clear the full bill by the due date, you lose the interest-free period, and interest may be charged from the date of each purchase on the outstanding amount. GST of 18% applies to both the interest and the late fee.

An example. You leave Rs 30,000 unpaid on an HDFC card. The late fee is Rs 1,100. At 3.75% a month, the rate in HDFC's own illustration, 30 days of interest comes to about Rs 1,110. GST on both adds about Rs 398, for a total near Rs 2,607. Interest on your card may run at a different rate and for a longer period, because it counts from each purchase date.

Missing the minimum repeatedly can add more. SBI Card and Axis Bank charge an extra Rs 100 once the minimum is missed for two cycles in a row, and keep charging it each cycle until the minimum is cleared.

Will a late payment hurt my credit score?

It can. Banks report an account as past due to credit bureaus once it is more than three days past due, the same line as the late fee. Paying within those three days keeps it from being reported as past due.

The RBI also requires a bank to tell you before it reports a default status. If you settle afterwards, the bank must update the bureau within 30 days of the settlement.

Other things can move a score too. See why a CIBIL score can drop with no missed payment.

Which cards have no late fee?

A few premium cards do not charge one. Axis Bank's fee document lists the late fee as waived on Burgundy Private and Primus, and HDFC Bank's document excludes Infinia and Infinia Metal Edition from late payment charges. All are invitation cards.

Most other cards charge the fee, including lifetime free ones. No annual fee does not mean no late fee.

Can a bank raise its late fee?

Yes, with notice. The RBI requires at least one month's notice, and a change can only apply going forward. If a change works against you, the bank must let you close the card without an extra charge for closing, once your dues are paid.

A bank also cannot charge a fee it never told you about. If a charge looks wrong against your bank's document, raise it with the bank and quote the slab.