Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • RBL Credit Card Interest Rates

    RBL Bank is among the top banks in the country offering a wide range of products to its customers all over the country. Among the top products offered by the bank, credit cards are among the most popular.

    Along with a wide range of features and benefits which an RBL Bank Credit Card comes with, it also comes with an interest rate added to the credit amount due if not paid within the due date.

    What Is RBL Credit Card Interest Rate?

    An interest rate is a fee charged by your credit card provider on the amount you borrowed using your card. However, you will be charged an interest rate only if you haven’t paid the total outstanding bill amount within the due date or the interest-free period, whichever is applicable. Currently, RBL Bank charges an interest rate of up to 3.99% per month which is 47.88% per annum on the RBL credit cards.

    Here’s the interest rates charged by RBL Bank on their credit cards:

    Credit Cards Interest Rate
    Secured Credit Cards 3.30% p.m. (39.60% p.a.)
    RBL Bank Insignia Credit Cards 3.75% p.m. (45% p.a.)
    Other RBL Credit Cards 3.99% p.m. (47.88% p.a.)

    How Are Credit Card Interest Rates Calculated by RBL Bank?

    • It is important to know what the Annual Percentage Rate (APR) is before understanding the calculation of interest rate. APR a rate that your credit card provider charges you annually on the balance amount on your card.
    • However, in reality, banks charge a monthly interest rate on the balance due amount on a daily basis. You can calculate your Daily Periodic Rate by taking the Annual Percentage Rate and dividing it by the number of days in the year.

    For example:

    If the monthly interest rate charged by your credit card provider is 3.99%, the formula used to calculate the interest rate you land up paying on an average daily balance method is as follows:

    Interest Rate Charged on RBL Credit Cards

    Interest rates charged by RBL Bank may go up to 3.99% p.m. or 47.88% p.a. However, the rate of interest charged by the bank may differ from credit card to credit card, your relationship with the bank, and on the usage of your card.

    Which RBL Credit Card Transactions Attract Interest Charges?

    Apart from not paying the total due amount within the due date, there are many other activities or transaction on your card that attracts interest rates. Some of them are as follows:

    • When you choose to pay the minimum due amount and carry a part of the total outstanding amount into the next billing cycle.
    • When you don’t pay the minimum due amount within the due date, late fees and other charges will be levied.
    • When you use your credit card to withdraw cash. Cash advances are expensive but when you use this benefit when you are aboard, a high cash advance fee will be charged.
    • When you use your credit card in an international location, additional charges will be levied.

    RBL Credit Card Interest-free Period

    RBL Bank offers an interest-free period that ranges from 20 to 50 days depending on the date of the transaction. This feature is applicable only if your previous month’s balance is paid in full. If you make the total outstanding balance within the interest-free period, you will not be charged anything additional. Which means that you have enjoyed the credit facility at a zero percent rate.

    Example for grace period:

    Let us assume that the payment due date is on 2 July 2023, and if the previous month's dues have been paid in full-

    Interest free period for a purchase on 16 May 2023 is 16 May 2023 to 2 July 2023: 47 days.

    For a purchase on 15 June 2023, the interest free period is 15 June 2023 to 2 July 2023 = 17 days.

    If only a part of the payment has been made, there will be no interest free period and interest charges applicable.

    FAQs on RBL Credit Card Interest Rates

    1. How is the interest rate charged on cash advances?

      On all cash advances, RBL Bank charges the monthly interest rate from the date of withdrawal till the amount is paid in full. Please refer to the table above to know the monthly interest rate on your RBL Bank credit card.

    2. Is the interest rate applied to the total due amount from the start of the billing period or from the transaction date?

      If you have not paid the total due amount within your due date, the interest rate will be charged on the total due amount from the transaction date till all the previous balance is paid in full.

    3. What happens If I have a high credit card bill due to high interest rate and I'm unable to pay it?

      If you default on your credit card payments, RBL Bank will get in touch with you and remind you to make your payment. If you aren't able to pay the minimum due amount, your credit card will be blocked. RBL Bank has the right to report you to the Credit Information bureaus which will negatively affect your credit score.

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