HDFC Bank Announces New Credit Card Fees Effective August 1, 2024

HDFC Bank has announced new updates to the terms and charges for its credit card holders. These changes will take effect on August 1, 2024, and details are available on the bank’s official website. The updates include fees for different types of transactions.

For customers using platforms like CRED, Paytm, Cheq, MobiKwik, and Freecharge to pay rent, a 1% fee on the transaction amount will be applied, capped at Rs 3,000 per transaction.

Fuel Transactions:

• Consumer Cards: No fee for transactions under Rs 15,000. A 1% fee for transactions over Rs 15,000, capped at Rs 3,000 per transaction.
• Business Cards: No fee for transactions under Rs 30,000. A 1% fee for transactions over Rs 30,000, capped at Rs 3,000 per transaction.

Utility Transactions:

• Consumer Cards: No fee for transactions under Rs 50,000. A 1% fee for transactions over Rs 50,000, capped at Rs 3,000 per transaction.
• Business Cards: No fee for transactions under Rs 75,000. A 1% fee for transactions over Rs 75,000, capped at Rs 3,000 per transaction.

Insurance transactions are exempt from these utility fees.

No fees will be charged for education payments made directly through college/school websites or their POS machines, though international education payments are excluded. A 1% fee, capped at Rs 3,000 per transaction, applies to education payments made through third-party apps.

A 3.5% markup fee applies to international or cross-currency transactions. For select premium cards, the markup fee is lower: 2% for Infinia and Diners Black cards, and 2.5% for the 6E Rewards Indigo XL card.

A Rs 50 redemption fee will be charged for rewards redeemed towards statement credit, but this fee does not apply to several premium cards like Infinia and Diners Black.

For those using the revolving credit facility and paying less than the total due amount, finance charges of 3.75% per month will apply until the balance is paid in full. For certain premium cards, the finance charge is 1.99% per month.

Finally, a processing fee of up to Rs 299 will be charged for the Easy-EMI option at any online or offline store.