CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
About RBL Credit Card Interest Rates
Interest rates play a crucial role in credit card usage, as they determine the cost of borrowing and impact your repayment obligations. RBL Bank credit card interest rates are competitive, allowing cardholders to optimize their finances. As a standard, RBL charges an Annual Percentage Rate (APR) of up to 3.99% per month (47.88% pa) on its credit cards as finance charges for retail and cash. It is important to note that RBL Bank credit card interest rates may vary based on the specific card variant and the cardholder's creditworthiness.
There are several instances in which RBL Bank imposes interest charges on transactions. These include:
However, if you pay off the full outstanding balance on your RBL credit card on or before the due date and do not use it for cash advances, no interest charges on credit card transactions will be applied by RBL Bank.
Scenario 1 – No partial or minimum amount paid: The total interest amount in case of a default in payment is calculated as the interest on the total amount due from the transaction date to the next statement generation date.
1 Jan 2023
15 Jan 2023
Minimum amount due:
Payment due date:
30 Jan 2023
Next Statement date:
15 Feb 2023
Assuming no fresh transaction is made from the transaction date, the RBL credit card interest in Scenario 1:
45 (no. of days from the transaction date to the next statement date) x 10000 (Amount) x 47.88% / 365 (days in 1 year) = Rs. 590.3
Scenario 2 – Partial Amount paid (5% of 10000 = Rs 500 paid on due date), rest as above: The Interest Amount can be calculated by summing up two components – the interest on the total due amount from the transaction date to the partial payment date, and the interest on the remaining amount from the day after the payment date to the next statement generation date.
Interest is calculated as: Interest on the total amount due till the partial payment date + interest on the remaining amount till the next statement generation date
30 (no of days from the transaction date to payment due date) x 10000 x 47.88% / 365 (days in 1 year) = 393.53
15 (no of days after payment date to next statement date) x 9500 (remaining amount) x 47.88% / 365 = 186.92
Total RBL Credit Card Interest in Scenario 2: Rs. 580.46
If full payment is made on the due date, then no interest is charged on the amount.
RBL Bank provides a grace period called the interest-free period, where card transactions do not accrue any interest. The interest-free period is the duration between the transaction date and the payment due date, which varies for each transaction. As a standard, RBL Bank offers a 15 – 45 days interest-free period for all customers. If the payment is made within this period, i.e., on or before the due date, no interest will be charged, given there are no cash withdrawals or carry-forwarded balances from previous statements.
1. RBL Platinum Maxima Card:
Interest Rate: The interest rate on this card ranges from 3.50% to 3.99% per month.
2. RBL Titanium Delight Card:
Interest Rate: The interest rate on this card is up to 3.99% per month.
3. RBL World Safari Card:
4. RBL Platinum Delight Card:
5. RBL Insignia Preferred Banking World Card:
6. RBL Icon Card:
7. RBL Gold Credit Card:
Interest rate: The interest rate on the RBL Gold Credit Card is up to 3.99% per month.
On the other hand, you can also get an RBL Bank credit card if your credit score is below 750 but the bank may reduce your credit limit and the eligibility criteria to apply for the card may be strict. The interest rate will also be high if the bank issues the credit card at a credit score below 750. So, ensure to have a credit score of 750 and above to get easy approval.
Understanding RBL credit card interest rates is essential for managing your finances efficiently and optimizing the benefits of your credit card. By exploring the different credit cards offered by RBL Bank, their key differentiators, and addressing frequently asked questions, you can make an informed decision and choose the credit card that best suits your needs. Remember to review the terms and conditions, evaluate your repayment capabilities, and use your RBL credit card responsibly to make the most of its benefits while keeping interest costs in check.
1. How is the interest rate on RBL credit cards determined?
The interest rate is determined based on factors such as the specific credit card variant, the cardholder's creditworthiness, and the prevailing market conditions.
2. Can I negotiate the interest rate on my RBL credit card?
RBL Bank provides interest rates based on its internal policies. However, you may contact the bank's customer service to explore possible options.
3. What will happen if I miss a credit card payment by the due date?
Missing a payment can result in late payment fees and a higher interest rate. It's crucial to pay at least the minimum amount due on time to avoid such consequences.
4. Can I convert my RBL credit card outstanding balance into EMIs?
Yes, RBL Bank provides the option to convert your outstanding balance into convenient Equated Monthly Installments (EMIs) at a lower interest rate. Terms and conditions apply.
5. Are there any promotional interest rates offered by RBL Bank?
Yes, RBL Bank occasionally introduces promotional interest rates on specific credit cards or for a limited period. Keep an eye out for such offers to make the most of them.
6. How can I check the interest charged on my RBL credit card?
You can easily view the interest charged on your RBL credit card through the monthly statement provided by the bank. It will detail the interest rate and the corresponding charges.
7. Can I transfer the outstanding balance from another credit card to my RBL credit card?
Yes, RBL Bank offers balance transfer facilities, allowing you to transfer the outstanding balance from another credit card to your RBL credit card at a lower interest rate.
Axis Bank Credit Card Interest Rates
HDFC Credit Card Interest Rates
SBI Credit Card Interest Rates
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application