ICICI Bank credit card fees: ICICI Bank has increased credit card fees for its customers. The new rule has already entered into force. In the event of a returned check, the bank now charges 2% of the total amount due with a minimum of Rs 500. Late payment fees vary according to the total amount due. In this case, you should that if your total amount due is less than Rs 100, the bank will not charge you. Whereas, for higher amounts, the fees continue to increase with the increase in the amount owed. The highest amount the bank will charge is 1,200 rupees for an amount above 50,000 rupees, ICICI bank said.
ICICI bank last month informed its customers of the changes. “Dear customer, effective February 10, 22, the fee structure on your ICICI Bank credit card will be revised. For more details on MITC, visit bit.ly/3qPW6wj,” he said in a message to the users.
The new rules came into effect on February 10, Thursday. Key market players such as HDFC Bank, SBI Card and Axis Bank have charged up to Rs 1,300, Rs 1,300 and Rs 1,000 respectively for more than Rs 50,000 balance, according to their respective websites.
Revised late payment fees for ICICI Bank credit cards:
Before that, there were no late fees if the amount was less than Rs 100. The bank will charge you more, with an increase in your amount owed. The maximum charge it will levy is Rs 1,200, the lender has notified. Here are the late payment fees on your ICICI Bank credit card –
Amount due less than Rs 100 – No fees charged
Amount due between Rs 100 – Rs 500 – Rs 100 late fees
Amount due between Rs 501 and Rs 5,000 – Rs 500 late fee
Amount due between Rs 5,001 – Rs 10,000 – Rs 750 late fees
Amount due between Rs 10,001 – Rs 25,000 – Rs 900 late fees
Amount due between Rs 25,011 – Rs 50,000 – Rs 1,000 late fees
Amount due up to Rs 50,000 – Rs 1,200 late fee
In addition to this, a flat fee of Rs 50 plus GST will be charged to customers’ savings bank accounts, the bank said in the notification. However, these additional fees do not apply to the ICICI Bank Emeralde credit card, he added.
So, if you cannot pay your credit card charges on time, it is advisable not to use your credit card again until you have paid the charges. This will result in an increase in your interest charges. You can also convert your large payments into equivalent monthly installments or EMIs to ease the burden.
ICICI bank check fees
In addition to increased credit card late fees, ICICI bank will also levy a fee of 2% of the total amount due for automatic debit and return of checks. The minimum amount for this is Rs 500, the bank said.
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