Up to ₹1,200 penalty for ICICI Bank credit card users from today; ₹500 for check return

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ICICI Bank has revised credit card fees effective February 10. Now, for all cash advances, the bank will charge a transaction fee on all cards of 2.50%, subject to a minimum 500. The bank has also revised late payment fees for all its credit cards except ICICI Bank Emerald Credit Card. Late payment fees vary depending on the total amount due. If your total amount due is less than 100, the bank will not charge you. While for higher amounts, the charges continue to increase with an increase in the amount owed. The highest amount the bank will charge is 1200 for an outstanding amount of 50,000 or more.

ICICI Bank revises credit card fees

If an amount due is less than Rs100, there will be no late fees.

100 will be charged for an amount due between 100- 500.

500 for the amount due of 501- 5000.

750 for the due up to Rs10,000.

900 for up to 25000.

1000 for up to 50,000.

1200 for maturity until 50,000.

Other larger players in the market such as HDFC Bank, SBI Card and Axis Bank charge up to Rs1300, Rs1300 and 1000 respectively for more 50,000 balance payments.

ICICI Bank check fees

The lender also has a fixed charge of 2% of the total amount due (minimum 500) for check return and automatic debit. In the event of a returned check, the bank will now charge 2% of the total amount due with a minimum of 500.

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