ICICI Bank hikes credit card charges with effect from February 10
By Lokmat English Desk | Published: January 21, 2022 02:30 PM2022-01-21T14:30:00+5:302022-01-21T14:30:00+5:30
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ICICI Bank, has stated that it has increased charges of various services related to credit cards, this includes late payment fees.
“Dear Customer, effective 10-Feb-22, the fee structure on your ICICI Bank Credit Card shall be revised. For more details on MITC, visit bit.ly/3qPW6wj,” stated the message to its ICICI Bank credit card customers.
The latest fee structure on ICICI Bank Credit Cards will be applicable from February 10, 2022.
From February 10, 2022, ICICI Bank credit card customers will have to pay a transaction charge on cash advance has been revised to 2.50% on advanced amounts on all cards, subject to a minimum of Rs 500.
In case of cheque return, the bank will now charge 2% of the total amount due with minimum of Rs 500.
Cash advance is the facility of using your credit card to withdrawal cash. Unlike purchases at merchant establishments, the interest rate meter on cash withdrawals starts from the day one.
Rs 900 for arrears up to Rs 25,000 and Rs 1,000 for arrears up to Rs 50,000. If the balance is more than Rs. 50,000, late payment fee up to Rs. 1,200 has to be paid. In addition, Rs. 50 / - from the customer's savings bank account
According to ICICI Bank, a customer will have to pay a minimum of Rs 500 for a credit card withdrawal. This charge will be applicable on cash up to Rs. 20,000. If you withdraw more than this amount, you will have to pay a penalty of 2.5% of the total amount.
