Outlook Business Desk
IndusInd Bank will revise its credit card fee structure and interest calculation system from June 15, impacting multiple card categories. The changes will apply across spending, billing and payment processes for customers using different credit card variants.
The bank will change how interest is applied after partial bill payments. If full payment is not made, interest will apply on remaining dues and new purchases, changing how outstanding balances are treated in upcoming billing cycles.
The interest-free period will now restart only after two consecutive billing cycles are paid fully and on time. Earlier, customers regained the interest-free period immediately after clearing all outstanding dues in full.
According to CNBCTV18, IndusInd Bank has reduced the fuel surcharge threshold for most standard cards. A 1% plus GST fee will apply when fuel spending exceeds ₹30,000 per billing cycle, compared with the earlier limit of ₹50,000.
The higher fuel surcharge threshold of ₹50,000 will continue for select mid and premium cards such as Tiger Credit Card. Premium products like Pioneer Private, Pioneer Heritage and Indus Solitaire remain fully exempt from fuel charges.
A 1% plus GST charge will apply on transport-related spending above ₹40,000 per billing cycle. This includes cabs, railways, buses and toll payments, while air travel expenses will remain excluded from this category-based fee.
Dynamic Currency Conversion charges will increase for standard cards, including Tiger variants, to 2% plus GST from 1%. Premium cards will continue to attract a lower 1% plus GST fee on international transactions billed in rupees.
Late payment charges will increase across select balance slabs. For dues between ₹501 and ₹1,000, fees will rise to ₹500. Balances between ₹5,001 and ₹10,000 will attract ₹750, while higher slabs remain unchanged.
Meanwhile, Club Vistara Explorer, Pioneer Private and Pioneer Heritage credit cards will not attract any late payment charges under IndusInd Bank’s updated credit card rules effective from June 15.