HDFC Bank has announced significant updates to the terms and charges for its credit card holders. These changes, which take effect on August 1, 2024, are detailed on the bank’s official website. The revisions cover a range of transaction types and fees.
Customers using services such as CRED, Paytm, Cheq, MobiKwik, Freecharge and similar platforms to pay rent will incur a 1% fee on the transaction amount, capped at Rs 3,000 per transaction.
Fuel transactions
Consumer Cards: No additional fee for fuel transactions under Rs 15,000. Transactions exceeding this amount will incur a 1% fee, capped at Rs 3000 per transaction.
Business Cards: No additional fee for fuel transactions under Rs 30,000. Transactions exceeding this amount will incur a 1% fee, capped at Rs 3000 per transaction.
Consumer Cards: No additional fee for utility transactions under Rs 50,000. Transactions exceeding this amount will incur a 1% fee, capped at Rs 3000 per transaction.
Business Cards: No additional fee for utility transactions under Rs 75,000. Transactions exceeding this amount will incur a 1% fee, capped at Rs 3000 per transaction.
Insurance transactions are not considered utility transactions and are exempt from these charges.
Educational transactions
No fees for education payments made directly through college/school websites or their POS machines. International education payments are excluded from this charge.
A 1% fee, capped at Rs 3000 per transaction, will be charged for education payments made through third-party apps.
A 3.5% markup fee will apply to international or cross-currency transactions. For select premium cards (Infinia, Infinia Metal Edition, Diners Black, Diners Black Metal Edition, Biz Black Metal Card, Regalia Gold, BizPower, Tata Neu Infinity HDFC Bank), the markup fee remains 2%, and for 6E Rewards Indigo XL, it is 2.5%.
Rewards redemption
A Rs 50 redemption fee will be charged for rewards redeemed towards statement credit (cashback). This fee is not applicable for Infinia, Infinia Metal Edition, Diners Black, Diners Black Metal Edition, BizBlack Metal, Swiggy HDFC Bank, and Flipkart Wholesale cards.
For customers using the revolving credit facility and paying less than the total amount due on their monthly billing statement, finance charges of 3.75% per month will apply from the transaction date until the outstanding balance is paid in full. This applies to all retail and cash transactions. The finance charge remains 1.99% per month for Infinia, Infinia Metal Edition, Diners Black, Diners Black Metal Edition, and BizBlack Metal cards.
A processing fee of up to Rs 299 will be charged for the Easy-EMI option at any online or offline store.
