HDFC Credit Card Interest Rates

HDFC Bank, one of India's most well-known banks, provides a wide range of credit products to its customers. With attractive interest rates on loans and HDFC credit cards, the bank is a credit market player.

Credit card interest rates are one of the most overlooked features by many credit card users. Every credit card company, including HDFC Bank, imposes monthly interest on delinquent credit card payments.

Features and Benefits of the HDFC Credit Cards

There are some similar attributes that the majority of credit cards from HDFC Bank would have, even though each HDFC card has a unique set of advantages. The following are some of them-

HDFC Credit Card

HDFC Credit Card.png

Credit Card Loans

  • HDFC Bank also provides credit card loans as part of its Insta Loan and Insta Jumbo Loan programs.

  • When you take out an instant loan, your credit limit will be limited for the amount you borrow, but when you take out an instant jumbo loan, you can borrow more money. However, each user's eligible loan amount and interest rate are different.

New Card Holder Advantages

  • You can get exclusive benefits when you sign up for a Credit Card with HDFC Bank.
  • You can enjoy additional rewards on annual spending above a specific limit.

Smart EMI

  • With HDFC Bank's Smart EMI option, you can break up large purchases into smaller payments that you can make over a period of three to twenty-four months or even longer in some circumstances.
  • For these EMIs, interest is typically charged; however, the bank also provides no-cost EMI options with some merchants.

Top HDFC Bank Credit Card Interest Rate

Here is the list of some of the HDFC credit card monthly interest rates-

Credit Card Name

Best Feature

HDFC Card Interest Rate

Annual Charges

HDFC Regalia Credit Card

Travel and Lifestyle

Approx 3.6% per month (43.2% per annum)

Rs 2500 + Tax

HDFC Millennia Credit Card

Cashback and Online Shopping

Rs 1000 + Tax

HDFC Diners Club Black Credit Card

Travel and Lifestyle

Rs 10,000 + Tax

HDFC Moneyback Credit Card

Cashback and Rewards

Rs 500 + Tax

IndianOil HDFC Credit Card

Fuel Transactions

Rs 500 + Tax

HDFC Infinia Credit Card

Travel and Shopping

Rs 12,500 + Tax

HDFC Freedom Credit Card

Rewards

Rs 500 + Tax

How to Apply for the HDFC Credit Card

The following are the processes to apply for an HDFC credit card online-

Step 1: Go to HDFC's official website.

Step 2: Go to the 'Credit Cards' area and choose a credit card based on your needs.

Step 3: Review the credit card eligibility requirements and required papers.

Step 4: Apply online by filling out all of the required information. You can also submit your credit card application and supporting documentation to an HDFC branch or ATM.

Step 5: Once the bank authorizes your application, you will receive your credit card at your communication address.

Step 6: When it is delivered, you must sign for it and give identification.

Eligibility Criteria to Apply

Age

You should be at least 18 years old

Nationality

You should be an Indian National

Residential Status

You should be a Resident or Non-Resident Indian

Employment Status

You should be a salaried or a self-employed individual

Annual Income

Based on your annual income, your eligibility will be determined by the bank

Documents Required to Apply

The following documents are necessary to apply-

  1. KYC-PAN, address evidence, and ID proof
  2. Passport-size photograph
  3. Salary slip/Form 16

How to Redeem HDFC Credit Card Reward Points

You can claim and redeem your HDFC Credit Card Reward Points through the following ways-

Redeem HDFC Credit Card Reward Points via Net Banking

  • Log in to the official net banking portal and register your credit card.
  • Click on the Redeem Reward Points.
  • Select your card and click on Continue to proceed further for redemption
  • Click on Redeem Reward Points.
  • Select Points Range and Item Category to view the catalogue.
  • Pick items by adding them to your shopping cart.
  • After selection, click on the View Shopping Cart link to view items.
  • Click on the check box to confirm.
  • Finally, click on Redeem to confirm redemption.

Redeem HDFC Credit Card Reward Points via Post

  • Download the Rewards Redemption Form from the official website.
  • Fill out the Redemption Form and post it.

When is the HDFC Credit Card Interest Rate Charged?

When you carry forward your due payment or take cash with your credit card, the bank charges you interest. In addition, nonpayment or incomplete payment may allow the bank to levy interest.

The following are the relevant scenarios in this regard-

Carrying the Balance Forward

If you carry the outstanding balance forward into the following credit cycle, the bank will charge you interest.

No Payment

If you do not make any payments, you will be charged both interest and late payment costs.

Cash Withdrawal

The Credit Card Interest Rate kicks in the day cash is taken from the card. It will be charged every day until the debt is satisfied.

Paying more than minimum amount due but not the entire amount will result in a credit card interest rate. In this case, the amount of interest that must be paid is the total of the following amounts-

  • Interest will be charged on the entire amount from the time of the transaction till the day of partial payment.
  • Interest would be charged on the remaining balance after the partial payment date until the next statement generation date.

HDFC Interest-Free Period

The time between an credit card transaction date and the credit card payment due date is known as the credit card interest-free period or grace period. As a result, it differs for each transaction made with your credit card.

HDFC typically provides an interest-free term of up to 50 days. If you pay within the interest-free period, that is, on or before the due date, you will not have to pay any interest. This indicates you made use of the zero-interest credit program.

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