From today, August 1, 2024, HDFC Bank credit card customers will experience a series of new and revised charges on various transactions. This update includes changes in fees for rent payments, educational expenses, and several other transaction categories.
Key Changes in Charges:
Rent Payment:
- Customers paying rent through third-party apps like CRED, Cheq, MobiKwik, and Freecharge will be charged 1% of the transaction amount, with a maximum limit of ₹3,000 per transaction.
Fuel Transactions:
- Transactions below ₹15,000 will not incur any additional charges.
- Transactions above ₹15,000 will attract a 1% charge on the entire amount, capped at ₹3,000.
Utility Transactions:
- Utility payments below ₹50,000 will not have additional charges.
- Payments above ₹50,000 will attract a 1% charge, capped at ₹3,000.
- Insurance transactions remain free from these charges.
Education Transactions:
- Direct payments through college or school websites or POS machines remain charge-free.
- Payments through third-party apps will incur a 1% charge, capped at ₹3,000.
- International education payments are exempt from these charges.
International Transactions:
- A 3.5% markup charge will be applied on international or cross-currency transactions, increasing costs for those making purchases or transactions abroad.
Late Payment Charges:
- Revised charges based on outstanding amounts:
- ₹101 – ₹500: ₹100
- ₹501 – ₹1,000: ₹500
- ₹1,001 – ₹5,000: ₹600
- ₹5,001 – ₹10,000: ₹750
- ₹10,001 – ₹25,000: ₹900
- ₹25,001 – ₹50,000: ₹1,100
- Above ₹50,000: ₹1,300
Rewards and Finance Charges:
- Redeeming rewards for statement credit will now attract a charge of ₹50.
- A finance charge of 3.75% per month will be applicable for those using the revolving credit facility.
Easy-EMI Processing Charge:
- A processing charge of up to ₹299 will be applicable for availing the Easy-EMI option online or offline.
| Slab of Outstanding Amount | Revised Charges |
|---|---|
| ₹100 | Nil |
| ₹101 – ₹500 | ₹100 |
| ₹501 – ₹1,000 | ₹500 |
| ₹1,001 – ₹5,000 | ₹600 |
| ₹5,001 – ₹10,000 | ₹750 |
| ₹10,001 – ₹25,000 | ₹900 |
| ₹25,001 – ₹50,000 | ₹1,100 |
| Above ₹50,000 | ₹1,300 |
Changes in Tata Neu Credit Cards:
HDFC Bank has also updated the cashback rules for Tata Neu Infinity and Tata Neu Plus credit cards, particularly affecting UPI payments. These changes aim to enhance the bank’s credit card offers and improve customer experience.
