IndusInd Bank Credit Card Interest Rates
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.
What Is IndusInd Bank Credit Card Interest Rate?
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.
How Are Credit Card Interest Rates Calculated by IndusInd Bank?
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.
Interest Rate Charged on IndusInd Bank Credit Cards
Indusind Bank Credit Cards | Monthly Interest Rate | Annual Rate |
3.95% | 47.40% | |
3.95% | 47.40% | |
Indusind Bank Platinum Select Credit Card | 3.95% | 47.40% |
Indusind Bank Iconia Credit Card | 3.83% | 46.00% |
3.95% | 47.40% | |
Indusind Bank PAYBACK Credit Card | 3.83% | 46.00% |
3.83% | 46.00% | |
3.83% | 46.00% | |
Indusind Bank Nexxt Credit Card | 3.83% | 46.00% |
Indusind Bank InterMiles IndusInd Bank Voyage Credit Card | 3.83% | 46.00% |
Indusind Bank Pinnacle Credit Card | 3.83% | 46.00% |
Indusind Bank InterMiles IndusInd Bank Odyssey Credit Card | 3.83% | 46.00% |
Which IndusInd Bank Credit Card Transactions Attract Interest Charges?
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:
- In case you have paid only the minimum due amount, carrying a portion of the total outstanding amount into the next billing cycle.
- If you have not paid the minimum due amount within the due date, a late fee and other charges will be added.
- In cases where you have used your credit card to withdraw cash.
- Using your credit card internationally, the bank may add additional charges or foreign currency charges.
IndusInd Bank Credit Card Interest-free Period
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.
Popular Bank's Credit Card Interest Rates
FAQs on IndusInd Bank Credit Card Interest Rates
- Can I contact IndusInd Bank customer care if I notice additional charges on my credit card?
Yes, if you have any queries about your credit card charges, you can contact the customer care of the bank at 18602677777.
- What can I do if the total amount due on my IndusInd Bank Credit Card is due to high interest rates?
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.
- For what duration is the interest rate applied for your credit card transactions?
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.
- What is the minimum income required to get an IndusInd Bank credit card?
To be eligible for a credit card from IndusInd Bank, your monthly take-home pay should be at least Rs. 20,000.
- What credit score is needed to apply for an IndusInd Bank credit card?
A credit score of 750 or higher is generally expected when applying for a card from IndusInd Bank.
- How can I check the status of my IndusInd Bank credit card application?
You can track the status of your credit card application either through the bank’s official website or by reaching out to their customer service team.
- What steps should I take if I lose my IndusInd Bank credit card?
In case your card is lost or stolen, it’s important to call customer care right away and have the card blocked to prevent misuse.
- What are the key advantages of having an IndusInd Bank credit card?
These cards offer a range of perks, including fuel surcharge waivers, cashback on purchases, access to airport lounges, and reward points on eligible transactions.
Types of Credit Card
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Credit Card Bill Payment
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Credit Card Eligibility
- Credit Card Eligibility
- SBI Credit Card Eligibility
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- Axis Bank Credit Card Eligibility
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- IndusInd Bank Credit Card Eligibility
- HSBC Credit Card Eligibility
- Kotak Credit Card Eligibility
- Canara Bank Credit Card Eligibility
- Standard Chartered Credit Card Eligibility
- RBL Bank Credit Card Eligibility
- Bank of Baroda Credit Card Eligibility
- Union Bank Credit Card Eligibility
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