HDFC Bank, India’s largest private sector bank, has introduced new rules for its credit cards effective from August 1, 2024. Here are the key changes:
Rental Transactions
Customers using payment services like CRED, Cheq, MobiKwik, Freecharge, etc., to pay rent will incur a 1% charge on the transaction amount, capped at ₹3,000 per transaction.
Fuel Transactions
Transactions below ₹15,000 per transaction will not incur extra charges. Transactions above ₹15,000 will attract a 1% charge on the entire amount, limited to ₹3,000 per transaction.
Utility Transactions
No additional charges for transactions below ₹50,000. Transactions above ₹50,000 will be charged 1% on the entire amount, limited to ₹3,000 per transaction. Insurance transactions are exempt.
Educational Transactions
Payments directly through college or school websites or their POS machines are charge-free. However, transactions via third-party apps will incur a 1% charge, capped at ₹3,000 per transaction. International educational payments are exempt.
International/Cross Currency Transactions
All international or cross currency transactions will have a 3.5% markup charge.
Late Payment Charge
Revised late payment charges range from ₹100 to ₹1,300, depending on the outstanding amount.
EMI Processing Charges
EMI processing charges up to ₹299 will apply when availing Easy-EMI options at online or offline stores.
Other Variations
HDFC Bank will implement changes in its Tata Neu Infinity and Tata Neu Plus credit cards from August 1, 2024.
Users of Tata Neu Infinity HDFC Bank credit card will receive 1.5% NewCoins on eligible UPI transactions using Tata Neu UPI ID.
