ICICI Financial institution has revised its bank card fees with impact from 10 February. As per the communication to the purchasers by the financial institution, credit score cardholders should pay a transaction cost on money advance which has been revised to 2.50% on superior quantities on all playing cards, topic to a minimal of ₹500. In case of cheque return, the financial institution will now cost 2% of the entire quantity due with a minimal of ₹500.
The financial institution additionally revised late fee fees for all its bank cards besides ICICI Financial institution Emerald Credit score Card. Late fee fees fluctuate with the entire quantity due. In case your whole quantity due is lower than ₹100, then the financial institution is not going to cost you. Whereas for increased quantities the costs maintain growing with a rise in due quantity. The very best quantity that the financial institution will cost is ₹1200 for an impressive quantity of ₹50,000 or extra.
Different bigger gamers out there, like HDFC Financial institution, SBI Card and Axis Financial institution have been charging as much as ₹1300, ₹1300 and ₹1000 respectively for over ₹50,000 stability fee.
Right here is the comparability of the bank card fees of main gamers like HDFC Financial institution, SBI Card, ICICI Financial institution and Axis Financial institution
As per the newest RBI information for the month of November, the variety of bank cards has elevated by 1.84 per cent as in comparison with October 2021. The rise was over 2 per cent in October ‘21 and 1.7 per cent in September ‘21. On the Bank card spending, there was a decline of 11.6 per cent month-on-month in November versus a achieve of 25.79 per cent MoM in October.
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