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IndusInd Bank Credit Card Fees and Charges

Home IndusInd Bank IndusInd Bank Credit Card Fees and Charges

IndusInd bank has provided several credit card variants to suit different needs and spending habits. They come with a wide range of features and services which you can avail by paying certain fees and charges. Read on to know all about the IndusInd bank credit card charges, like interest rate, cash withdrawal charges, late payment fees, forex mark-up and many more.

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Updated: 11-11-2024 11:01:15 AM

An extensive list of benefits and services are offered by the IndusInd bank credit cards to their users. However, the cardholders can not avail all these features for free of cost. There are certain charges which have to be paid compulsorily to use the credit card, like the card annual fee, while there are others which are levied as per the card usage, such as the cash withdrawal fee, finance charges, forex mark-up fee and many more. Read further to understand how and when these IndusInd credit card charges are applicable.

IndusInd Bank Credit Card Fees & Charges
Finance Charges/Interest Rate Cash Withdrawal Charges Annual Fee
Forex Charges Overlimit Fee Late Payment Charges
Other Credit Card Fees and Charges
IndusInd Bank Credit Card Interest Rate
How is IndusInd Bank Credit Card Interest Rate Calculated?
IndusInd Bank Credit Card Cash Withdrawal Charges
IndusInd Bank Credit Card Annual Fee
IndusInd Bank Credit Card Forex Charges
IndusInd Bank Credit Card Late Payment Charges
IndusInd Bank Credit Card Overlimit Fee
Other IndusInd Bank Credit Card Fees and Charges
FAQs

IndusInd Bank Credit Card Interest Rate

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time or withdraw cash using your credit card, an interest rate is applied to the outstanding bill amount and the cash withdrawn.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 Credit Cards Interest Rate
IndusInd Legend Credit Card 3.83% p.m. (46% p.a.)
IndusInd Bank Platinum Credit Card 3.95% p.m. (47.40% p.a.)
IndusInd Bank Platinum Aura Edge Credit Card 3.95% p.m. (47.40% p.a.)
IndusInd Nexxt Credit Card 3.83% p.m. (46% p.a.)
IndusInd Indulge Credit Card 1.79% p.m. (21.48% p.a.)
EazyDiner IndusInd Credit Card 3.83% p.m. (46% p.a.)
InterMiles IndusInd Bank Odyssey Credit Card 3.83% p.m. (46% p.a.)

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.

How is IndusInd Bank Credit Card Interest Rate Calculated?

Considering that IndusInd Bank charges an interest rate, or a finance charge, of 3.83% p.m. or 46.00% per annum, let us understand how interest rate is calculated through the following example:

Particulars of the Credit Card
Credit Card Interest Rate 3.50% per month or 42.00% per annum
Transaction date 1st July
Transaction Amount Rs. 10,000
Statement Date 6th July
Total Amount Due Rs. 10,000
Amount Due Date 26th July
Next Statement Date 6th August

If the cardholder does not clear the full outstanding amount, Rs. 10,000 by 26th July then IndusInd Bank credit card interest rate as well as late payment fee will come into play. The interest will be calculated on a daily basis from the date of transaction till repayment date.

On the other hand, if the cardholder pays 50% of the total outstanding amount on 21st July and doesn’t make any other transactions till the next statement generation date which will be 6th August. Then the total interest will be:

Total Interest Accrued is the sum of Interest charged on the full outstanding amount from the date of transaction till partial payment date. And, Interest accumulated on remaining outstanding amount from the day after the date of partial payment till next statement generation date.

Interest from date of transaction to partial payment date: [21(Number of days from date of transaction to payment date)*10,000 (Full amount) x 42.00% (Interest Rate per annum)] ÷ 365 (Days in a year) = Rs. 241.64

Interest from partial payment date to statement generation date: [15(Days between partial payment date to the day before statement generation date) x 5,000(Outstanding amount) x 42.00% (Interest rate per annum)] ÷ 365 (Days in a year) = Rs. 86.30

Total Interest Amount that needs to be paid = Rs. 327.94 [=241.64 + 86.30]

IndusInd Bank Credit Card Cash Withdrawal Charges

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:

IndusInd Credit Card Cash Withdrawal Charges

2.5% of the cash amount withdrawn or Rs. 300, whichever is higher

For instance, if you withdraw Rs. 20,000, the applicable fee will be Rs. 500, as 2.5% of Rs. 20,000 is Rs. 500. However, if you withdraw Rs. 6,000, the cash withdrawal fee of Rs. 300 will be charged, instead of Rs. 150.

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.

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IndusInd Bank Credit Card Annual Fee

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:

Credit Cards Joining Fee Annual Fee
IndusInd Legend Credit Card Rs. 9,999 (Nil, if applied through Paisabazaar) Nil
IndusInd Bank Platinum Credit Card Rs. 3,000 Nil
IndusInd Bank Platinum Aura Edge Credit Card Rs. 500 Nil
EazyDiner IndusInd Credit Card Rs. 1,999 Rs. 1,999
IndusInd Bank Nexxt Credit Card Rs. 10,000 Nil
InterMiles IndusInd Odyssey Credit Card Rs. 10,000 Rs. 4,000

IndusInd Bank Credit Card

IndusInd Bank Credit Card Forex Charges

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:

Credit Cards Forex Mark-up Fee
IndusInd Platinum Credit Card 3.5%
IndusInd Bank Legend Credit Card 1.8%
IndusInd Bank Indulge Credit Card 1.8%
IndusInd Platinum Aura Edge Credit Card 3.5%
EazyDiner IndusInd Bank Credit Card 3.5%

Suggested read: Best Credit Cards for International Use

IndusInd Bank Credit Card Late Payment Charges

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:

Total Outstanding Amount Late Payment Charges
Up to Rs. 100 Nil
From Rs. 101 to Rs. 500 Rs. 100
From Rs. 501 to Rs. 1,000 Rs. 350
From Rs. 1,001 to Rs. 10,000 Rs. 550
From Rs. 10,001 to Rs. 25,000 Rs. 800
From Rs. 25,001 to Rs. 50,000 Rs. 1,100
More Than Rs. 50,000 Rs. 1,300

IndusInd Bank Credit Card Overlimit Fee

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

Other IndusInd Bank Credit Card Fees and Charges

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

Fee Type Charged Amount
Add-on Card Fee Nil
Returned Cheque Fee Rs. 250
Balance Enquiry Charges on Other Bank ATMs Rs. 25
Card Replacement Fee Rs. 100
Cash Payment at IndusInd Bank Branch Rs. 100
Rewards Redemption Fee Rs. 100
Duplicate Physical Statement Request Rs. 100 per statement beyond last 3 months

FAQs

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.

Top IndusInd Bank Credit Cards
IndusInd Bank Legend Credit Card IndusInd Indulge Credit Card
IndusInd Platinum Aura Edge Credit Card IndusInd Bank Platinum Credit Card
EazyDiner IndusInd Bank Credit Card InterMiles IndusInd Bank Odyssey Credit Card
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