ICICI Bank credit cards are in high demand. They offer lots of benefits to their users. And these benefits come at a price. The various ICICI Bank credit card fees and charges are given below.
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ICICI Bank Credit Card Fees and Charges
The fees and charges associated with ICICI Bank credit card are given below
| Category | Amount |
| Joining Fee | Up to Rs. 25, 000 |
| Annual Fee | Up to Rs. 7000 |
| Cash Advance Fee | 2.50% on all cards with a minimum of Rs. 300/- Nil on using Easy Deposit Card at ICICI ATMs On cash card – Rs. 151 per transaction |
| Over-limit charges | 2.50% of the over the limit amount. Min. Rs. 500 |
| Finance Charges | Up to 42.00% per annum |
| Return of cheque fee | 2% the amount/Min. Rs. 450 |
| Auto-Debit return fee | 2% the amount/Min. Rs. 450 |
| Goods and Services Tax (GST) | 18% |
Details of ICICI Bank Credit Card Fees and Charges
Cash Withdrawal Charge – This fee is indicated in each monthly statement and is billed on the basis of the withdrawal amount. Along with cash withdrawal charge, finance charge is also applied on cash withdrawals.
Charges for late payment – If the cardholder fails to pay at least the minimum due amount then they will have to pay the late payment charges.
Finance Charges – In case a cardholder fails to clear the full due amount by the due date then finance charges are applied on the remaining amount. The charges are applicable till the full due amount is cleared.
Things to Remember about ICICI Bank Credit Cards
- Joining fee is payable at the time of credit card activation
- Supplementary card fee needs to paid at the time of activation
- GST will be applicable on all fees and charges
- Remember that there are charges applicable on reward redemption as well
FAQs
When are finance charges applicable?
They are applicable when there is a default in clearing the outstanding balance within the due date.
What is Joining fee?
Joining fee is a one-time fee applicable when applying for a new credit card.
Are finance charges and late fee charges the same thing?
No, they are not. Late fee is levied when the minimum due amount is not paid by the due date. But, Finance charges are applicable when the customer pays the minimum due but not the complete outstanding.
If minimum due amount is paid, am I still a defaulter?
No, in that case, the remaining amount is forwarded into the next bill cycle.
Are GST charges applied on interest rates?
Yes, GST charges are applicable on the interest amount.