Axis Bank Credit Card Fees and Charges

Axis Bank Credit Cards offer an interest-free period of up to 50 days, during which the bank does not charge an interest rate on transactions. However, in some cases the bank charges an interest rate. The interest charges are applicable when you do not clear the entire due amount by the due date, withdraw cash using your Axis Credit Card, do not pay even the minimum amount due by the due date or opt for credit card balance transfer.

The interest rate for credit cards offered by Axis Bank varies from card to card. However, the bank charges an interest rate ranging from 1.5% to 3.6% per month, depending on the card type. Below mentioned are the interest rates charged as applicable on Axis Bank Credit Cards:

Please note that the Axis Bank reserves the right to change the credit card interest rate at its discretion.

                                         What is the Interest-free Period on Axis Bank Credit Cards?

With Axis Bank Credit Cards, you can enjoy an interest-free period of 20 to 50 days wherein, you do not have to pay the interest accrued on the purchases. However, the number of interest-free days that you get depends on the purchase date relative to the statement generation date.  Example, suppose a card comes with a statement generation date of 20 March 2024 and due date of 9 April 2024. Now, purchases made on 20 March will get 50 interest-free days. (20 March to 20 April = 31 days | 20 April to 9 May = 19 days). However, for transactions made on 10 April 2024, the interest-free period will be of 29 days (10 April to 9 May = 29 days). You don’t get an interest-free period if you fail to pay the full due amount by the due date and on credit card cash withdrawals.

With Axis Bank Credit Cards, you can withdraw cash in case of emergency. There is a particular amount of cash which can be withdrawn at any given point of time and the amount of withdraw-able cash is within the credit limit. However, withdrawing cash using a credit card is not an advisable thing to do. This is because withdrawing cash involves hefty cash advance charges, along with the interest rate-that are levied from the date of withdrawal till the payment date.

All Axis Bank Credit Cards come with varying joining and annual fee. Unlike other charges that are applicable on using a particular service, the joining/annual fee is charged on your activated card, whether you use it or not. While the joining fee is charged as the first year fee, annual fee is applicable every subsequent year, on your card anniversary. These charges are usually high for premium credit cards in comparison to entry level credit cards. In some cases, the joining or annual fee could be Nil as well, as per lifetime free offers, introductory offers or as decided by the bank. Below mentioned are the applicable joining and annual fee on some of the best Axis Bank Credit Cards in India:

Forex markup fee or foreign exchange transaction fee on your Axis Bank Credit Card is charged by the bank for converting denominations. This fee is charged when you use your credit card for international transactions, for- retail transactions outside India, online transactions in foreign currency, overseas ATM cash withdrawals, domestic transactions on POS linked to international accounts. In general, the applicable forex markup fee on all Axis Bank Credit Cards is 3.50% of the transaction value. Some Axis Credit Cards however, charge a comparatively low forex markup fee than usual, as follows:

The late payment charges on your Axis Credit Card are applicable, when you fail to pay even the minimum due amount by the due date. The charge may vary as per the outstanding amount, as follows:

Note: Late Payment Charges for Axis Bank Burgundy Private Credit Card, are waived off.

You can also use your Axis Credit Card for paying rent. However, there are applicable charges for paying rent using your Axis Card. A 1% fee, capped at Rs. 1,500 per transaction is applicable on each rent payment transaction. This fee will be charged along applicable taxes.

Illustration: Lets’ assume you pay Rs. 20,000 rent using your Axis Credit Card, on a third-party rent payment platform. Here 1% of the transaction amount, that is Rs. 200 plus taxes will be charged as a surcharge fee. Similarly, if you pay a rent of Rs. 2 Lakh with your card, you will be charged a surcharge of fee of Rs. 1,500 only (plus taxes), even when 1% of 2 Lakh is Rs. 2,000.

Note: GST @18% is applicable on all fees, interest and other credit card charges.

How is Axis Credit Card interest charged on outstanding amounts?
Suppose the finance charge applicable is 2.95% and on the 20th of each month the statement is generated. You made a purchase of Rs. 10,000 through this card on 12 June and withdrew cash of Rs. 5,000 from the ATM on 16 June. So, the applicable finance charge will be Rs. 24.25 (5000*5 days*2.95%*12 months/365 days). This amount will appear in the credit card statement. Check more details about credit card interest rate here.

How can one avoid paying finance charges?
Finance charges won’t come into effect if the full bill amount is paid on time. Also, it is better to avoid cash withdrawals using your credit card. The cash withdrawal fees and finance charges come into effect from day one of cash withdrawals.

How to check credit card cash withdrawal limit in Axis Bank?
The cash withdrawal limit on your Axis Credit Card is a percentage of the assigned credit limit, usually 20-40%. The limit is communicated to you via the welcome kit offered on card issuance. Additionally, you can contact the Axis Bank Credit Card Customer Care to know the limit on your credit card.

Do Axis Bank Credit Cards have an annual fee?
Yes, all Axis Bank Credit Cards have an applicable annual fee on them. The charge may vary from one card to another, and is charged once a year. In the first year, the annual fee is charged as the ‘joining fee’. Check details here.