Axis Bank Credit Card Rules Changing From 20 December: From Finance Interest Charges To NACH Payment And More

New Delhi: Private sector lender Axis Bank has announced a host of changes in the terms and conditions of its credit cards that will kick in from 20 December 2024.

Here are the details regarding Axis Bank Credit Card Rules Changing From 20 December

Finance/Interest charges

Finance/Interest charges applicable on your credit card will be levied at a revised interest rate of 3.75% per month, from the current rate of 3.6% per month. This change will be effective 20th Dec 2024. This change will be applicable on all Axis Bank retail credit cards, except the cards mentioned below, for whom there will be no change to the existing finance/interest charge structure.

Burgundy Private Credit Card, Magnus Burgundy Credit Card, Flipkart Secured Credit Card, Magnus Credit Card, IOCL Easy Credit Card, MyZone Easy Credit Card, Legacy Secured Credit Cards, Olympus Credit Card, Primus Credit Card Privilege, Easy Credit Card, Reserve Credit Card.

Standing Instruction (SI) failure or NACH payment failure, auto debit reversal, cheque return/dishonour fee

Standing Instruction (SI), NACH payment failure, auto debit reversal, or cheque return fee of 2% of the payment amount will continue to be applicable. Minimum fee charged will be revised to Rs. 500 from the current Rs. 450. Capping of the maximum fee of Rs. 1,500 will be removed. This change will be effective 20th Dec 2024.

This change will be applicable on all Axis Bank retail credit cards, except Burgundy Private Credit Card, Olympus Credit Card, Primus Credit Card.