With effect from February 10, ICICI Bank has revised its credit card fees. The bank will now impose a 2.50 percent transaction fee on all cards for all cash advances, subject to a minimum of ₹500. Except for the ICICI Bank Emerald Credit Card, the bank recently altered late payment penalties for all of its credit cards. Late payment penalties are calculated based on the total amount owed. The bank will not charge you if the total amount outstanding is less than ₹100. Whereas for larger amounts, the charges rise in lockstep with the amount owed. For an outstanding balance of ₹50,000 or higher, the bank will incur a fee of ₹1200.
ICICI Bank has revised its credit card fees.
There will be no late fee if the amount owed is less than ₹100.
A fee of ₹100 will be assessed for any outstanding balance between ₹100 and ₹500.
₹500 for the owed sum of ₹501-5000
₹750 for any amount owed up to ₹10,000.
₹900 for a loan of up to ₹25,000
₹1000 for a maximum of ₹50,000.
₹1200 for payments of up to ₹50,000.
Other major market participants, such as HDFC Bank, SBI Card, and Axis Bank, have been charging up to ₹1300, ₹1300, and ₹1000 for over ₹50,000 balance payments, respectively.
Cheque fees at ICICI Bank
The lender additionally charges a fixed fee of 2% of the total amount owed (minimum ₹500) for check and auto-debit return. In the event of a cheque return, the bank will now charge 2% of the entire amount owed, with a minimum charge of ₹500.