HDFC Bank new credit card rules will be effective from august 1st- 2024, Know details of changes

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HDFC Bank Credit Card Rules: There is big news for crores of credit card holders of the country’s largest bank HDFC Bank. The bank is going to change the rules of its credit card. These will come into effect from August 1, 2024. If you also use HDFC’s credit card, then we are telling you about its new charges.

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There are going to be changes in these rules

1. HDFC Bank credit card holders will have to pay 1% charge as transaction fee if they pay their rent through third party apps like Cred, Cheq, MobiKwik, Freecharge. This charge can be up to a maximum of Rs 3,000 per transaction.

2. Apart from rent payment, the bank has also changed the charges for fuel transactions. Now customers will not have to pay any extra charge on fuel transactions less than Rs 15,000. On the other hand, for a fee of more than Rs 15,000, you will have to pay 1 percent charge on the transaction, but the maximum limit of the fee can be up to Rs 3,000.

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3. The bank has also made changes in the utility transaction charges. Customers will not have to pay any service charge on utility bills up to Rs 50,000. On transactions above Rs 50,000, you will have to pay a fee of 1% per transaction, the limit of which can be up to Rs 3000.

4. Customers will have to pay 3.5% mark up charge on international currency transactions.

5. The bank will charge zero service charge on direct payment of school and college fees. On the other hand, on using third party apps like Cred, Cheq, MobiKwik, Freecharge, customers will have to pay a fee of 1 percent per transaction or up to a maximum of Rs 3,000. Payments to international schools and colleges are not included in this.

5. If you fail to make the credit card payment on time, you will have to pay a penalty ranging from Rs 100 to Rs 1300. The penalty amount will depend on the outstanding amount.

6. The bank has changed the EMI processing fee of its credit card. If you process EMI through HDFC credit card after shopping from any website, then you will have to pay a fee of Rs 299 as processing charge for this. Along with this, customers will also have to pay GST in addition to these charges.

New rules will come into effect from August 1

HDFC Bank has informed on its official website that all the changes in the credit card rules will be implemented from August 1, 2024.

 

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