Credit Card APR is the Annual Percentage Rate of your credit card. Simply put, this is the rate of interest applicable when you are late on your payments. APR is calculated daily and is applicable on the Total Amount Due, and not just the principal amount. This means that if you have a late payment fee applied, then you will need to pay interest on that as well.
How to avoid paying credit card APR?
Credit cards have an interest-free period of up to 45 days. Your credit card bill has this date mentioned as the due date. If you pay before this due date, you will not have to pay any interest or additional amount on your credit card bill.
Are there any waivers on APR?
Some banks offer 0% APR for the first 6 / 12 months but usually, you will need to have a good repayment history or a very high CIBIL score. This is mostly a marketing tactic to attract customers but ideally, you should not be affected by this as the best case is to always pay your bills on time and avoid paying interest.
What are the standard credit card APR rates?
Here's a comprehensive guide to all credit card APR's as of March 2018:
Bank | Variant | Fixed Deposit Required? | APR When MAD Paid | APR when MAD not paid |
HDFC Bank | JetPrivilege HDFC Bank Diners Club | No | 23.88% | 23.88% |
HDFC Bank | Diners Black | No | 23.88% | 23.88% |
HDFC Bank | Infinia | No | 23.88% | 23.88% |
HDFC Bank | Jet World | No | 41.88% | 41.88% |
HDFC Bank | Signature | No | 41.88% | 41.88% |
HDFC Bank | Regalia | No | 41.88% | 41.88% |
HDFC Bank | Business Regalia | No | 41.88% | 41.88% |
HDFC Bank | Doctors Regalia | No | 41.88% | 41.88% |
HDFC Bank | Regalia First | No | 41.88% | 41.88% |
HDFC Bank | Business Regalia First | No | 41.88% | 41.88% |
HDFC Bank | Others | No | 41.88% | 41.88% |
HDFC Bank | Card issued against Fixed Deposit | Yes | 23.88% | 23.88% |
State Bank of India | All Variants | No | 40.20% | 40.20% |
ICICI Bank | Jet Airways ICICI Bank Credit Cards | No | 42.00% | 42.00% |
ICICI Bank | ICICI Bank Instant Platinum Credit Card | Yes | 29.88% | 29.88% |
ICICI Bank | ICICI Bank Instant Gold Credit Card | Yes | 29.88% | 29.88% |
ICICI Bank | Fixed Deposit Instant Credit Card | Yes | 29.88% | 29.88% |
ICICI Bank | All other cards | No | 40.80% | 40.80% |
Axis Bank | Insta Easy Card | Yes | 34.49% | 34.49% |
Axis Bank | Easy Card | Yes | 34.49% | 34.49% |
Axis Bank | MY Business | No | 46.78% | 46.78% |
Axis Bank | MY Zone | No | 46.78% | 46.78% |
Axis Bank | MY Choice | No | 46.78% | 46.78% |
Axis Bank | Platinum | No | 46.78% | 46.78% |
Axis Bank | Titanium Neo | No | 46.78% | 46.78% |
Axis Bank | Buzz | No | 46.78% | 46.78% |
Axis Bank | All other cards | No | 41.75% | 41.75% |
Citi Bank | All variants | No | 39.00% | 42.00% |
Kotak Mahindra Bank | Feast Gold | No | 42.00% | 42.00% |
Kotak Mahindra Bank | Fortune Gold | No | 42.00% | 42.00% |
Kotak Mahindra Bank | Urbane Gold | No | 42.00% | 42.00% |
Kotak Mahindra Bank | Aqua Gold | Yes | 35.88% | 35.88% |
Kotak Mahindra Bank | Silk Inspire Platinum | Yes | 35.88% | 35.88% |
Kotak Mahindra Bank | PVR Gold | No | 42.00% | 42.00% |
Kotak Mahindra Bank | PVR Platinum | No | 42.00% | 42.00% |
Kotak Mahindra Bank | Royale Signature | No | 40.08% | 40.08% |
Kotak Mahindra Bank | Wealth Management | No | 37.20% | 37.20% |
Kotak Mahindra Bank | League Platinum | No | 42.00% | 42.00% |
Kotak Mahindra Bank | Delight Platinum | No | 42.00% | 42.00% |
Kotak Mahindra Bank | Essentia Platinum | No | 42.00% | 42.00% |
Kotak Mahindra Bank | Silk Inspire Platinum | No | 42.00% | 42.00% |
Kotak Mahindra Bank | Privy League Signature | No | 29.88% | 29.88% |
Standard Chartered Bank | Visa Infinite | No | 37.20% | 37.20% |
Standard Chartered Bank | Emirates World | No | 37.20% | 37.20% |
Standard Chartered Bank | Instant Card | Yes | 23.88% | 23.88% |
Standard Chartered Bank | All other cards | No | 41.88% | 41.88% |
American Express | Platinum | No | 42.00% | 42.00% |
American Express | Platinum Reserve | No | 42.00% | 42.00% |
American Express | All other cards | No | 42.00% | 42.00% |
IndusInd Bank | All variants | No | 46.00% | 46.00% |
Ratnakar Bank Limited (RBL) | All Unsecured Variants (No FD) | No | 42.00% | 42.00% |
Ratnakar Bank Limited (RBL) | All Secured Variants (FD) | Yes | 30.00% | 30.00% |
HSBC | All Variants | No | 29.88% | 29.88% |
J&K Bank | All Variants | No | 27.00% | 27.00% |
Punjab National Bank | All Unsecured Variants (No FD) | No | 29.81% | 29.81% |
Punjab National Bank | All Secured Variants (FD) | Yes | 19.56% | 19.56% |
Andhra Bank | Platinum | No | 21.23% | 41.75% |
Andhra Bank | All other cards | No | 34.49% | 41.75% |
Union Bank Of India | Usecure | Yes | 15.60% | 15.60% |
Union Bank Of India | All other cards | No | 22.80% | 22.80% |
YES Bank | All Variants | No | 23.88% | 23.88% |
Bank Of Baroda | Assure | Yes | 19.20% | 19.20% |
Bank Of Baroda | Titanium Master | No | 30.00% | 30.00% |
Bank Of Baroda | All other cards | No | 31.20% | 31.20% |
Central Bank of India | Aspire | Yes | 18.00% | 18.00% |
Central Bank of India | Gold | No | 33.00% | 33.00% |
Central Bank of India | Titanium | No | 35.88% | 35.88% |
Central Bank of India | Platinum | No | 35.88% | 35.88% |
Central Bank of India | World | No | 42.00% | 42.00% |
Corporation Bank | All Variants | No | 30.00% | 30.00% |
Syndicate Bank | All Variants | No | 24.00% | 24.00% |
Indian Overseas Bank | All Variants | No | 24.00% | 24.00% |
IDBI Bank | Aspire Platinum | No | 34.80% | 34.80% |
IDBI Bank | Royale Signature | No | 30.00% | 30.00% |
Tamilnad Mercantile Bank | All Variants | No | 24.00% | 24.00% |
Dhanalakshmi Bank | Gold | No | 18.00% | 18.00% |
Dhanalakshmi Bank | Platinum | No | 24.00% | 24.00% |
MAD=Minimum Amount Due
About PaySay
PaySay is an Instant Credit Card. Sign up on our mobile app and provide a few basic details to get started with your instant credit. Unlike a physical credit card where it takes 3-4 weeks to apply, receive the card and start paying, PaySay lets you start paying in just 3 minutes.
