- Credit Card Bill Payment (Due Date, grace period, billing cycle, late payment fee, overdue interest rate Statement generation date explained here.
rbi 3 emi maratorium months loan
Credit card bill maratorium
credit card billing cycle
ex: 17th to 16 (january) every month
//after jan 17th you pay on march 5th.
credit card statement generated date:
next day after the billing circle 18th next month
due date:
5th of next month (february)
15 days as grace period interest free
late fee:
if you late even 1 day there will be fixed amount 500 INR* GST. sometimes late fee bigger than minimum amount due. to avoid this register auto debit
either full or minimum due amount.
minimum payment:
to avoid late fee but remaining amount attract late fee at higher interest rate 3%pm or 36% annual.
remaining amount after minimum payment
ex: full due 12k minimum due 7K
overdue interest rate:
overdue interest rates higher in credit card bills 2% PM or 24% yearly gone. 3% or 3 paise per month or 36% for yearly/ check your credit billing statement description to know the exact rates & conditions.
confusion
you paid on 4/5th feb for billing cycle (upto dec 17 to jan 16). you try to count from feb 5th as new billing circle.
are you facing troubles to manage 3+ Credit cards?
you probably miss the due ended up with paying late fee, over due interest,
solutions: Register for auto debit in SBI Net Banking or use Yonosbi
HDFC: Use HDFC Mobile App.
ICICI: Use I mobile to register for auto debit
How to register autod for credit card payment?
Sbi: NetBanking biller section, add sbi credit card as biller , select Every month bill as recurring.
ICICI: open I mobile app. Select register a biller,
Select your card,
Pay current outstanding
Last statemt due.
Minimum statement due.
2nd option is correct. If you pay minimum due, outstanding amount attracts 36% 0r 3% monthly interest rate which is huge
And select the date when will it happens, select just 1 day before the due date or due date,
Now it’s automatically deducted to your ICICI savings account.
Hdfc,
With hdfc mobile app you can find your linked credit cards.
You can manually pay with your saving account balance, or register as a biller.
RBL credit card: if you don’t have rbl saving account, you can through NetBanking.
You can also use Paytm as automatic payment to credit card.
The new app cred also do this for you.
Why we can’t credit bill with another credit card?
you can do this by credit y balance transfer at 1.67% per month 20.04% * interest rate .
SBI EMI Deferment June to August
every month we have send a reply to SMS sent by bank within 5 days prior to the due date.
