NEWS & ADVICE : CREDIT CARDS
Banks to charge late fee only in the next billing cycle
By Ankit Sharma
Jun 20, 2014
Print    Email    RSS   

Good news is lined for the credit card holders, The apex bank has asked the banks that they can charge late fees from the customers only in the next billing cycle following a missed payment. At present the banks charge late fee if the payment is made after the due date.

Bank charges late fee between Rs 100 to Rs 700 depending on the outstanding amount. In case of credit cards the customers are charged interest for the delayed payment and in addition to this they are also charged a late fee payment.

CEO of SBI Cards, confirmed that RBI has asked banks not to impose late payment charges if the cardholder had paid before the next billing but after the due date.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
CIBIL and its role in credit risk management
Disputing errors in a credit report
Is the economy facing a debt trap?
Free insurance policies with credit cards
Carnival of Indian Personal Finance Blogs #1


Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive