IndusInd Bank is among the top banks in the country under the private sector that offers several products to its customers including a wide range of credit cards. Indusind Bank credit cards come with a plenty of benefits and features across different categories such as rewards, cashback, lifestyle, entertainment, travel, etc.
These credit cards come with fees and charges that includes an interest rate. The interest rate of your card is added to your transactions and is included under the ‘Total Amount Due’ in your credit card statement.
Popular Bank's Credit Card Interest Rates
IndusInd Bank’s credit card interest rate is applicable if you have not paid your total outstanding amount or paid only a portion of your total outstanding amount as the minimum amount due.
For example, if your total outstanding amount on your card is Rs.20,000 and you paid Rs.10,000 as a partial payment. The remaining Rs.10,000 will be carried forward to next month’s statement and will attract a certain rate of interest.
If you have paid off your total outstanding amount, IndusInd Bank will not charge an interest rate on your credit card.
IndusInd Bank calculates the interest rate through the Annual Percentage Rate or APR. It is the total rate of interest applicable on your credit card per year.
The bank charges a monthly rate of interest on the due amount daily. You can calculate the Daily Periodic Rate by dividing the Annual Percentage Rate by the total number of days in the year.
For example, if the monthly interest rate charged on your IndusInd Bank credit card is 4%, the formula used to calculate the interest rate you land up paying on an average daily balance method is as follows:
Interest Rate = [(Total Outstanding Amount x 4% per month x 12 months) X number of days] / 365 days.
|Indusind Bank Credit Cards||Monthly Interest Rate||Annual Rate|
|Indusind Bank Platinum Aura Credit Card||3.49%||46.00%|
|Indusind Bank Platinum Aura Edge Credit Card||3.49%||46.00%|
|Indusind Bank Platinum Select Credit Card||3.49%||46.00%|
|Indusind Bank Iconia Credit Card||3.49%||46.00%|
|Indusind Bank Platinum Credit Card||3.49%||46.00%|
|Indusind Bank PAYBACK Credit Card||3.49%||46.00%|
|Indusind Bank Duo Credit Card||3.49%||46.00%|
|Indusind Bank Legend Credit Card||3.49%||46.00%|
|Indusind Bank Nexxt Credit Card||3.49%||46.00%|
|Indusind Bank InterMiles IndusInd Bank Voyage Credit Card||3.49%||46.00%|
|Indusind Bank Pinnacle Credit Card||3.49%||46.00%|
|Indusind Bank InterMiles IndusInd Bank Odyssey Credit Card||3.49%||46.00%|
Interest charges on credit cards are applied not only for the inability to pay the total due amount within the due date but also on other activities and transactions. Some of them are as follows:
IndusInd Bank offers an interest-free period of up to 50 days. The interest-free credit period will only be applicable if you have paid your total outstanding amount in full for the previous month.
Yes, if you have any queries about your credit card charges, you can contact the customer care of the bank at 18602677777.
If you are not able to pay your total amount due, IndusInd Bank will contact you regarding non-payment, and if still not paid, your credit card may be cancelled.
The interest rate charged by IndusInd Bank is from the date of transaction date till the previous total balance is paid in full, in case your total amount due is not paid.
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