RBL Bank Credit Card interest rate is charged on a per month basis at an APR of up to 3.99%. These charges come with an interest-free period of up to 50 days. This is applicable for all types of RBL Bank Credit Card. One must be mindful of the credit card interest rates and penalty charges if the credit card dues are not paid on time. If you miss the payment due date, you will incur additional credit card interest.
Using a credit card offers several benefits. If you use it correctly and pay your bills on time, you can enjoy all its benefits without incurring any interest and other charges. Nonetheless, one should always be aware of the interest rates, penalties, and other charges levied on a credit card before using it. On missing the due date of your credit card bill, you may incur additional charger in the form of interest. In the case of the Bajaj Finserv RBL Bank SuperCard, the interest rate is charged monthly at an APR of up to 3.99%. The penalty is levied after an interest-free period of up to 50 days. These charges are applicable on all types of RBL Bank credit cards.
It is the rate at which interest on your utilised credit limit is calculated once you default on the bill payment within the payment due date. The Bajaj Finserv RBL Bank SuperCard comes with applicable RBL Credit card emi interest rates calculated as per the same rules.
Now when you know what is credit card interest rate, apply for Bajaj Finserv RBL Bank SuperCard which comes with an interest-free period of up to 50 days. Utilise the card and make timely repayments to avoid paying added interest on the outstanding amount.
Frequently asked questions:-
When is the interest rate charged on credit cards?
Interest is charged on a credit card when your outstanding balance is carried forward to the next month’s bill. This happens when you fail to repay your total bill amount on or before the due date.
How is interest calculated for a credit card?
The interest on your credit card can be calculated monthly or annually, depending on your card type. In case of the monthly billing cycle, the interest is calculated on the basis of the Monthly Percentage Rate (MPR).
How does the interest rate on a credit card work?
The credit card interest is charged on the outstanding balance when you fail to repay the total amount due before the due date. It can be charged daily or monthly, depending on the card type. Some credit cards also account for the Annual Percentage Rate (APR), calculated yearly.
When should I pay my credit card bill to avoid interest?
You can avoid paying the credit card interest by clearing the minimum and the total amount due on or before the due date. Interest is charged on the outstanding amount; therefore, you do not need to pay any interest when you pay your balance in full and on time.
Will interest be charged if I pay the minimum amount due?
Yes. Even after you pay the minimum amount due, interest will be charged on your outstanding amount.
What is the lowest credit card interest rate?
Several credit cards fall in the low-interest rate category. Bajaj Finserv RBL Bank SuperCard also has low-interest rates of 3.99% per month.
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