Personal Credit Cards India, Credit Card Services, Personal Credit Card Usage -HDFC Bank

MOST IMPORTANT TERMS AND CONDITIONS

1. Fees and Charges

Fees payable on the Credit Card by the Cardmember

Joining Fee Annual Fees Renewal Fees

The fees may vary for each Cardmember, and from offer to offer. The same is communicated to the Cardmember at the time of applying for the credit card. The above fees as applicable are billed to the card account and are stated in the card statement of the month in which it is charged.

Cash Advance Fees
The Cardmember can use the Card to access cash in an emergency from ATMs in India or abroad. A transaction fee of 2.5% (Minimum Rs. 300) would be levied on the amount withdrawn and would be billed to the Cardmember in the next statement. The transaction fee is subject to change at the discretion of HDFC Bank. All cash advances also carry a finance charge of 2.95% per month (35.4% annually) from the date of withdrawal until the date of full payment. The finance charge is subject to change at the discretion of HDFC Bank.

Charges

Charges and fees, as may be applicable from time to time, are payable by Cardmembers for specific services provided by HDFC Bank to the Cardmember or for defaults committed by the Cardmember with reference to his card account.
HDFC Bank retains the right to alter any charges or fees from time to time or to introduce any new charges or fees, as it may deem appropriate, with due intimation to customer.

Interest Free Period
The interest free credit period could range from 20 to 50 days subject to the scheme applicable on the specific card (please refer to the schedule of charges) and the submission of claims by the merchant. However, this is not applicable if the previous month's balance has not been cleared in full or if the Cardmember has availed of cash from ATM.
For instance, the HDFC Bank International Silver Credit Card has an interest-free Credit Period of up to 50 days. This means that a customer who has a billing date of 4th of the month can spend on his Card from 5th April to 4th May, his bill will be generated on 4th May and his Payment Due Date will be 24th May. Hence a purchase made on 14th April will have a credit period of 41 days, while a purchase made on 2nd May will have a credit period of 23 days. This period will be free of interest only if all previous dues are paid in full and there is no unpaid balance carried over from previous months.

2. Limits

	HDFC Bank at its sole discretion will determine the Cardmember's Credit limit and cash withdrawal limit. (Add-on Cardmembers share the same limit). These limits are communicated to the Cardmember at the time of card delivery and in the monthly statements. The available credit limit at the time of the statement generation is provided as a part of the monthly statement. HDFC Bank will review the Cardmember account periodically, and increase or decrease the Cardmember credit limit based on internal criteria. Cardmembers seeking to have their credit limit increased can do so by writing to the Bank and providing financial documents declaring their income. The Bank, at its sole discretion and based on such new documents provided, may increase the Credit Limit of the Cardmember.

3. Finance Charges

Finance charges are payable at the monthly percentage rate on all transactions from the date of transaction in the event of the Cardmember choosing not to pay his balance in full, and on all cash advances taken by the Cardmember, till they are paid back. Finance charges, if payable, are debited to the Cardmember's account till the outstanding on the card is paid in full.

Finance charges on cash advances are applicable from the date of transaction until the payment is made in full.

When the customer carries forward any outstanding amount or avails of Cash Advance, a finance charge calculated by average Daily Balance Method, will apply to balances carried forward and to fresh billings.

If a Cardholder avails of the revolving credit facility of the HDFC BANK Credit Card and hence chooses to pay an amount less than the total amount due reflected in the monthly billing statement, the entire outstanding amount would attract finance charges and all new transactions will also attract finance charges, till such time as the previous outstanding amount are repaid in full.

Late Payment charges will be applicable if Minimum Amount Due is not paid by the payment due date. Clear funds need to be credited to HDFC Bank Card account on or before the payment due date to avoid Late Payment Charges. For credit card bills upto Rs.100, no Late Payment charges will be levied. Late Payment Charges are applicable at the rate of Rs.100 for credit card bills between Rs.100 and Rs.500, Rs.350 for credit card bills between Rs.501 and Rs.10000, Rs.500 for credit card bills between Rs.10001 and Rs.20000 and Rs.600 for credit card bills above Rs.20000.

Over limit charges are applicable on total outstanding exceeding the Credit Limit at the rate of 2.5% of the over limit amount subject to minimum of Rs.500.

The following illustration will indicate the method of calculating various charges
Assume that you have paid all previous dues in full and do not have any amount outstanding in your Card Account. Your statement date is 18th of every month. The following is the list of transactions you have done on your Card account.

Date	Transaction	Amount
10 April	Purchase of household goods	Rs 15000
15 April	Purchase of garments and accessories	Rs 5000
18 April	Statement date	Total Amount Due=Rs 20000 Minimum Amount Due=Rs 1000
12 May	Payment into card account (Late payment charges will be applicable here)	Rs 2000(Credit)
14 May	Purchase of groceries	Rs 1000
15 May	Payment Into Card Account	Rs 15000(Credit)

Thus, on the statement dated 18th May, the following will reflect as the components of the total amount payable by you :

Interest calculated = (outstanding amount x 2.95%* pm x 12 months x no of days) / 365
Late payment charges = Rs 500 for credit card bill of Rs 20000

Therefore,

Interest on Rs 15000 @ 2.95%pm from 18 April to 12 May (i.e. for 25 days) = Rs 363.70
Interest on Rs 13000 @ 2.95%pm from 13 May to 15 May (i.e. for 3days) = Rs 37.82
Interest on Rs 5000 @ 2.95%pm from 18 April to 15 May (i.e. for 28 days) = Rs 135.78
Interest on Rs 3000 @ 2.95%pm from 16 May to 18 May (i.e. for 3 days) = Rs 8.73
Interest on Rs 1000 (fresh spends @ 2.95%pm from 14 May to 18 May (i.e. for 5 days) = Rs 4.85
Thus total interest of Rs 550.88
Late payment charges=Rs 500
Total principal amount outstanding = Rs 4000 (Rs 1000 fresh spend + balance Rs 3000 outstanding from last month's billing period)

Hence Total Amount Due = (a) + (b) + (c) = Rs 5050.88 + Service Tax as applicable on interest and other charges

*Please note that the Finance Charges and other charges are subject to change at the discretion of HDFC Bank.Also please note that if the Cardmember exceeds the Credit limit of the accounts, Over limit Charges will be levied on the account. For a list of charges that may be levied at specific instances, please refer to the Schedule of Charges available at the end of this document.

4. Billing and Statement

A)	HDFC Bank will send the Cardmember a monthly statement showing the payments credited and the transactions debited to the Cardmember's Account since the last statement. The Bank will mail a statement of transactions in the card account every month on a pre-determined date, to the mailing address on record with the bank. If the balance outstanding is less than Rs.200/- and there is no further transaction pending billing since the last statement, no statement will be issued.
B)	HDFC Bank Credit Cards offer the Cardmember the facility of revolving credit. The Cardmember may choose to pay only the Minimum Amount Due printed on the statement. The balance outstanding can be carried forward to subsequent statements. The Cardmember can also choose to pay the Total Amount Due or any part of the amount above the Minimum Amount Due. Such payment should be made before the Payment Due Date. Clear funds need to be credited to HDFC Bank Card account on or before payment due date to avoid Late Payment Charges. Cardmembers are advised to drop local cheques at least 4 days before the Payment due date to ensure payment reflects on the card account within the Payment due date. Any unpaid Minimum Amount Due of the previous statements will be added to the Cardmember's current Minimum Amount due in addition to the outstanding exceeding the Cardmember's Credit Limit.
C)	Payments made towards the Card outstanding are acknowledged in subsequent statements.
D)	Payments received against the Cardmember’s card outstanding will be adjusted against all taxes, fees and other charges, interest charges, cash advances and purchases in that order.
E)	Payments towards the card account may be made in any of the following ways: By dropping the payment instrument (Local Cheque or draft) into any of the HDFC Bank Credit Card drop boxes placed in the HDFC Bank branches and ATMs. The Cheque/Draft should be made payable to HDFC Bank Card Number xxxx xxxx xxxx xxxx. In case the Cardmember has a HDFC Bank account, he can opt for a Standing Instruction facility, where funds can be automatically transferred from the Cardmember's HDFC Bank account to the Cardmember's card account on due date. In case the Cardmember has an HDFC Bank account, he can make the Payment through NetBanking, ATMs, or PhoneBanking. Through Cash Payments at the bank branches.
F)	Billing Disputes: All the contents of the statement will be deemed to be correct and accepted if the Cardmember does not inform HDFC Bank of the discrepancies within 60 days of the Statement Date in writing. On receipt of such information, HDFC Bank may reverse the charge on temporary basis pending investigation. If on completion of subsequent investigations, the liability of such charges is to the Cardmember's account, the charge will be reinstated in a subsequent statement along with the associated retrieval requests charges.
G)	Contact Particulars: The Cardmember can contact HDFC Bank Credit Cards for making any enquiries or for any grievance redressal through : 24 Hour Customer Service Call Centre - a detailed list of phone numbers is available at the end of this document and on the reverse of the monthly statements. Through mail - Manager, HDFC Bank Cards Division, PO BOX # 8654, Thiruvanmiyur PO, Chennai 600 041. By email customerservices.cards@hdfcbank.com

5. Default

	In the event of default, the Cardmember will be sent reminders from time to time for settlement of any outstanding on the card account, by post, fax, telephone, e-mail, SMS messaging and/or engaging third parties to remind, follow up and collect dues. Any third party so appointed, shall adhere fully to the code of conduct on debt collection.

6. . Right of Lien

	The bank, at any time and without notice, will have lien and right to set-off on all monies belonging to the Cardmember and/or add on Cardmember standing to their credit in any account/custody of the bank, if upon demand by the bank, the balance amount on the card account is not repaid within the prescribed time

7. Termination/Revocation of the Card Membership

A)	The Cardmember may terminate the card membership at any time by writing to HDFC Bank at the following address: "Manager, HDFC Bank Cards Division, PO BOX # 8654, Thiruvanmiyur PO, Chennai 600 041" along with the cards cut diagonally to pieces. All the cards including the add-on cards will be terminated basis the written request. Termination will be effective only after receipt of the cut cards and payment of all amounts outstanding to the card account. No annual, joining or renewal fees shall be refunded on a pro-rata basis.
B)	HDFC Bank may also restrict, terminate or suspend the use of the Credit card at any time without prior notice if the Bank reasonably believes it necessary for business or security reasons. HDFC Bank can suspend the facility on the Credit Card, if the Cardmember defaults on the payment due or exceeds the credit limit extended. The Card must not be used after the Agreement ends or if the card account is suspended.
C)	In such a situation, the Cardmember must (subject to any default or other notice required by law) immediately pay HDFC Bank the total outstanding Balance on the Account. This includes all amounts due to HDFC Bank under the Agreement, including all transactions and other amounts not yet charged to the Account. The card will not be considered as closed until the Cardmember has paid all such due amounts.

8. Loss/theft/misuse of Card

A)	The Cardmember must notify the 24-Hour Call center immediately if the Primary or any Additional credit card is misplaced, lost, stolen, mutilated, not received when due or if he/she suspects that the credit card is being used without Cardmember's permission. Once a card is reported lost, it should not, under any circumstance be used if found by the Cardmember subsequently. As the Add-On card is an extended facility given on the primary Card Account, the Add-On card is rendered invalid when the primary card is reported lost. Similarly, if the Add-On card is reported lost, the primary Card Account and other Add-on cards are invalidated.
B)	The Bank is not liable or responsible for any transactions incurred on the card account prior to time of reporting of the loss of the card, and the Cardmember will be wholly liable for the same. After the receipt of proper notification of the loss by the Bank, the Cardmember's subsequent liability is zero. In addition to notifying HDFC Bank about the loss or theft of the Card, the Cardmember must report any theft of Cards to the Police and lodge an FIR.
C)	The Cardmember will be liable for all losses in case of misuse of the card by someone who obtained the PIN or the card with the consent of Cardmember or an Additional Cardmember.
D)	If the Cardmember has acted fraudulently the Cardmember will be liable for all losses. If the Cardmember acts without reasonable care, the Cardmember may be liable for all losses incurred.
E)	HDFC Bank may, without referring to the Cardmember or any Additional Cardmember, give the police or other relevant authorities any information that HDFC Bank consider relevant about the loss, theft or misuse of a Card or PIN.

9. Grievance Cell

	In the rare event of not being satisfied with the response from any of the recent contacts with the Bank, you can reach us at Manager, Grievance Cell, P.O.Box # 8645, Tiruvanmiyur, Chennai- 600041. Phone 044-23744704 between 9.30 am and 5.30 pm Monday to Friday.

10. Disclosure

	The Cardmember acknowledges that as per existing business practices, the Bank is authorised to disclose from time to time any information relating to the Credit Card(s), to any credit bureau (Existing or Future) without any notice to the customer. The Credit Information Bureau India Ltd. (CIBIL) is an initiative of the Government of India and Reserve Bank of India to improve the functionality and stability of the financial system. All banks and financial institutions participating in this initiative are required to share customer data with CIBIL. In view of this we wish to inform the Cardmember that the bank is authorised to disclose any information relating to credit card(s) default by the customer, to CIBIL and to any other credit bureau (Existing and Future) in case the card is overdue, with a notice of 15 days. The Cardholder’s name will be withdrawn from any defaulter’s list, as the Bank may deem fit, only if the entire outstanding amount is realized from the Cardholder. This withdrawal will be effected within 60 days from the Cardholder having paid the full and final amount to the Bank. We also wish to inform the Cardmember that the bank will, at its own discretion, record specific conversations between the Cardmember and the representative of the Bank, in cases of grievance-related conversation or payments-recovery-related conversations or any other conversation, that the Bank may deem fit.

Schedule of Charges

SCHEDULE OF CHARGES
Description of Charges	Silver / Health Plus / Value Plus / Idea Silver card	Gold / Idea Gold / Women's Gold Card
Interest Free Period	Up to 50 days	Up to 50 days
Minimum Repayment Amount	5%, Minimum Rs 200	5%, Minimum Rs 200
Cash Advance Limit	30% of credit limit	40% of credit limit
Joining Fee	As in the Application Form	As in the Application Form
Annual Fee	As in the Application Form	As in the Application Form
Additional Card fee	As in the Application Form	As in the Application Form
Charges On revolving Credit	2.95% P.M., 35.4% Annually - from Transaction date #	2.95% P.M., 35.4% Annually - from Transaction date #
Cash Advance Charges	2.5% of amount withdrawn or Rs 300 whichever is higher	2.5% of amount withdrawn or Rs 300 whichever is higher
Late Payment Charges	Nil for Credit card bills upto Rs.100, Rs.100 for credit card bills between Rs.100 and Rs.500, Rs.350 for credit card bills between Rs.501 and Rs.10000 Rs 500 for credit card bills between Rs 10000 and Rs 20000, Rs 600 for credit card bills above Rs 20000 *	Nil for Credit card bills upto Rs.100, Rs.100 for credit card bills between Rs.100 and Rs.500, Rs.350 for credit card bills between Rs.501 and Rs.10000 Rs 500 for credit card bills between Rs 10000 and Rs 20000, Rs 600 for credit card bills above Rs 20000 *
Charges on overlimit account	2.5% of overlimit amount subject to a minimum of Rs 500	2.5% of overlimit amount subject to a minimum of Rs 500
Payment return Charges	2% of payment amount subject to minimum of Rs. 300	2% of payment amount subject to minimum of Rs. 300
Cash Processing Fee	Rs. 50(for all card payments made by depositing cash in HDFC Bank branches or ATMs)	Rs. 50(for all card payments made by depositing cash in HDFC Bank branches or ATMs)
Balance Transfer/ Balance Transfer on EMI processing Charges	2% of BT/BT on EMI amount or Rs 200 whichever is higher	2% of BT/BT on EMI amount or Rs 200 whichever is higher
Petrol Transaction Charge	2.5% (subject to a minimum of Rs 10)	2.5% (subject to a minimum of Rs 10)
Railway Ticket Purchase Fee	Rs 30 + 2.5% of transaction amount	Rs 30 + 2.5% of transaction amount
Reissue of Lost, Stolen or Damaged Card	Rs. 100	Rs. 100
Outstation Cheque Processing Charge	Rs. 100	Rs. 100
Retrieval Fees ( Chargeslip)	Rs. 125 per Chargeslip	Rs. 125 per Chargeslip
Foreign Currency Transactions	Bank Charges Cross currency mark-up of 3.5%	Bank Charges Cross currency mark-up of 3.5%
Service Tax	Applicable on all Fees, Interest and other Charges	Applicable on all Fees, Interest and other Charges

*wef 3rd march'08, #wef 25th may'08. Card account levied with late payment charges in the latest generated statement will be exempted from the cash processing fee.

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