Up to ₹1,200 penalty for ICICI Bank credit card users from today; ₹500 for cheque return
PremiumIn case of cheque return, ICICI Bank will now charge 2% of the total amount due with a minimum of ₹500
ICICI Bank has revised charges for credit cards effective from February 10. Now, for all cash advances, the bank will charge a transaction fee on all cards of 2.50%, subject to a minimum of ₹500. The bank also revised late payment charges for all its credit cards except ICICI Bank Emerald Credit Card. Late payment charges vary with the total amount due. If your total amount due is less than ₹100, then the bank will not charge you. While for higher amounts the charges keep increasing with an increase in due amount. The highest amount that the bank will charge is ₹1200 for an outstanding amount of ₹50,000 or more.
ICICI Bank revises fees on credit cards
If a due amount is less than Rs100, there will be no late fee.
₹100 will be charged for a due amount between ₹100- ₹500.
₹500 for the due amount of ₹501- ₹5000.
₹750 for due up to Rs10,000.
₹900 for up to ₹25000.
₹1000 for up to ₹50,000.
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₹1200 for due up to ₹50,000.
Other larger players in the market, like HDFC Bank, SBI Card and Axis Bank have been charging up to Rs1300, Rs1300 and ₹1000 respectively for over ₹50,000 balance payments.
ICICI Bank cheque charges
The lender has also a fixed charge of 2% of the total amount due (minimum ₹500) for the return of cheque and auto-debit. In case of cheque return, the bank will now charge 2% of the total amount due with a minimum of ₹500.
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