IndusInd Bank Credit Card Fees and Charges

If you don’t pay your credit card bills on time or withdraw cash using your credit card, an interest rate is applied to the outstanding bill amount and the cash withdrawn. Also called the finance charge, IndusInd bank credit card interest rate charged on some of the popular cards is given below:

IndusInd Bank Credit Card Interest-Free Period

Credit card interest-free period is the time IndusInd Bank provides an interest-free period of 50 days to its users within which they can pay their credit card bills without incurring any interest or finance charges. However, this interest-free facility is not available if the total amount due of the previous statement cycle is not paid completely. Along with this, any cash withdrawn using the credit card also starts incurring interest from the date of transaction until it is paid off completely.

Cash withdrawal or cash advance charges are levied on using any IndusInd bank credit cards for ATM cash withdrawals, along with an additional finance charge as discussed above. The applicable cash withdrawal charges on IndusInd bank credit cards are as follows:

Note: No cash withdrawal fee is charged to IndusInd Bank Legend Credit Card users.

IndusInd Bank Credit Card Cash Withdrawal Limit

IndusInd bank assigns both the credit limit and the cash withdrawal limit at the time of credit card issuance. Here, the credit card cash withdrawal limit is only a certain percentage of the total credit limit due to which the withdrawal limit varies from one cardholder to another. The IndusInd bank customers can also check these credit card limits from their monthly statements.

Did You Know: When you withdraw cash, the finance charges are applicable along with the cash advance fee. Therefore, it is advisable not to withdraw cash using your credit cards as they incur high interest charges. You should use this facility only in the case of emergency or if it is absolutely necessary.

At the time of card activation, IndusInd bank charges a joining fee to the credit cardholders, while a card annual or renewal fee is usually charged from the subsequent year onwards to continue the card usage. The joining and annual fees differ according to the card variant. Some cards, however, also offer the fee waiver facility if you achieve a certain spending milestone. The annual and joining fees of some of the popular IndusInd credit cards are listed below:

IndusInd bank foreign currency exchange fee or the forex charges are levied on carrying out international transactions using your credit card. The international use can include overseas ATM withdrawal, along with online and offline payments made in foreign currency. The forex mark-up fee associated with some of the top IndusInd bank credit cards is given below:

Suggested read: Best Credit Cards for International Use

If the credit cardholder does not pay even the minimum amount due (MAD) by the credit card bill payment due date, then a late payment fee is charged depending on the due amount. The detailed IndusInd bank credit card late payment fees as per the outstanding amount is given below:

If you use your credit card beyond the available credit limit, IndusInd bank charges an over limit fee of Rs. 500 or 2.5% of the over limit amount, whichever is higher. This fee is applied when either you spend more than your credit limit on your purchases or even if the credit card fees and charges exceed your limit when combined.

Suggested Read: Best Credit Cards in India

Some of the other fees and charges associated with IndusInd bank credit cards are described below:

How can I avoid exceeding the credit limit so as to avoid paying extra charge?
It is helpful to regularly check your credit card balance, which is the amount of credit limit you have exhausted. This will ensure there is no accidental crossing of credit limit.

How is interest rate applied on the statement balance?
The interest rate is applied on a daily basis. In case of IndusInd bank where the annual interest rate is 46%. The daily interest charged comes to 0.1278%. In case of cash withdrawal the interest rate applies from the first day onwards.

What do you mean by over-limit fee?
This over limit fee is charged only when your expenditure/balance surpasses your credit limit. The card issuers can also routinely decline further transactions, in this case, no over-limit fee is charged.

Is there add-on card fee for IndusInd Bank?
No, there is no add-on fee charged by IndusInd Bank.

What do you mean by cash withdrawal limit?
Cash withdrawal limit is the maximum cash that can be withdrawn through the credit card. It is a percentage of the total credit limit. That means the full credit limit cannot be withdrawn by the cardholder.