Axis Bank Credit Card Interest Rate
The Axis Bank credit card interest rate or finance charge is the interest collected by the bank if you don’t pay your credit card balance in full. When you opt for paying only the minimum amount due (MAD) or even lesser amount, Axis Bank will charge interest on the remaining amount as well as every new transaction till you clear the entire outstanding.
Axis Bank Credit Card Types & Their Interest Rates
The interest rate for Axis Bank credit cards ranges from 2.95% to 3.6% per month (41.75% to 52.86% per annum), depending on the credit card variant. The finance charges or Axis Bank credit card interest rates for different credit cards offered by the bank are listed below:
| Credit Card | Monthly Interest Rate | Annually Interest Rate |
|---|---|---|
| Axis Bank Neo Credit Card | 3.6% | 52.86% |
| Axis Bank MY Zone Credit Card | 3.6% | 52.86% |
| Flipkart Axis Bank Credit Card | 3.6% | 52.86% |
| IndianOil Axis Bank Credit Card | 3.6% | 52.86% |
| REWARDS Credit Card | 3.6% | 52.86% |
| Axis Bank Magnus Credit Card | 3% | 42.58% |
| Axis Bank Vistara Credit Card | 3.6% | 52.86% |
| Axis Bank Vistara Signature Credit Card | 3.6% | 52.86% |
| Axis Bank Vistara Privilege Credit Card | 3.6% | 52.86% |
| SpiceJet Axis Bank Voyage Black Credit Card | 3.6% | 52.86% |
| Axis Bank Select Credit Card | 3.6% | 52.86% |
| Axis Bank Atlas Credit Card | 3.6% | 52.86% |
| Axis Bank Kwik Credit Card | 3.6% | 52.86% |
| SpiceJet Axis Bank Voyage Credit Card | 3.6% | 52.86% |
| Airtel Axis Bank Credit Card | 3.6% | 52.86% |
| Axis Bank Vistara Infinite Credit Card | 3.6% | 52.86% |
| Samsung Axis Bank Signature Credit Card | 3.6% | 52.86% |
| Samsung Axis Bank Infinite Credit Card | 3.6% | 52.86% |
| Flipkart Axis Bank Super Elite Credit Card | 3.6% | 52.86% |
| Miles and More Axis Bank Credit Card | 3.6% | 52.86% |
| Axis Bank AURA Credit Card | 3.6% | 52.86% |
| Axis Bank Freecharge Credit Card | 3.6% | 52.86% |
| Axis Bank Freecharge Plus Credit Card | 3.6% | 52.86% |
| Axis Bank Ace Credit Card | 3.6% | 52.86% |
| Axis Bank Pride Platinum Credit Card | 2.95% | 41.75% |
| Axis Bank Pride Signature Credit Card | 2.95% | 41.75% |
| Axis Bank My Zone Easy Credit Card | 3.4% | 49.96% |
| Privilege Easy Credit Card | 3.4% | 49.96% |
| Axis Bank Signature Credit Card | 3.4% | 49.96% |
| LIC Axis Bank Signature Credit Card | 3.6% | 52.86% |
| LIC Axis Bank Platinum Credit Card | Waived | Waived |
| Platinum Credit Card | 3.4% | 49.96% |
| Titanium Smart Traveller Credit Card | 3.4% | 49.96% |
| Axis Bank My Wings Credit Card | 3.4% | 49.96% |
Axis Bank Credit Card Fees & Charges
Axis Bank credit card charges are levied on the various services offered by the bank on your credit card, including cash withdrawal, loan facility, balance transfer, minimum bill payment, etc. The list of Axis Bank credit card fees and charges, including Axis Bank credit card annual fees, joining fees, interest rates, Axis Bank credit card loan interest rates, etc. are given below:
| Credit Card Variant | Joining/Annual Fee | Foreign Currency Transactions % of Transaction Value | Cash Advance Fee | Overlimit Charges | Finance Charges (p.a.) |
|---|---|---|---|---|---|
| Axis Bank Neo Credit Card | Rs. 250 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank MY Zone Credit Card | Rs. 500 | 3.5% | 2.5% | 2.5% | 52.86% |
| Flipkart Axis Bank Credit Card | Rs. 500 | 3.5% | 2.5% | 2.5% | 52.86% |
| IndianOil Axis Bank Credit Card | Rs. 500 | 3.5% | 2.5% | 2.5% | 52.86% |
| REWARDS Credit Card | Rs. 1,000 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Magnus Credit Card | Rs. 12,500 | 2% | Nil | 2.5% | 42.58% |
| Axis Bank Vistara Credit Card | Rs. 1,500 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Vistara Signature Credit Card | Rs. 3,000 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Vistara Privilege Credit Card | Rs. 1,500 | 3.5% | 2.5% | 2.5% | 52.86% |
| SpiceJet Axis Bank Voyage Black Credit Card | Rs. 2,000 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Select Credit Card | Rs. 3,000 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Atlas Credit Card | Rs. 5,000 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Kwik Credit Card | Nil | 3.5% | NA | 2.5% | 52.86% |
| SpiceJet Axis Bank Voyage Credit Card | Rs. 750 | 3.5% | 2.5% | 2.5% | 52.86% |
| Airtel Axis Bank Credit Card | Rs. 500 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Vistara Infinite Credit Card | Rs. 10,000 | 3.5% | 2.5% | 2.5% | 52.86% |
| Samsung Axis Bank Signature Credit Card | Rs. 500 | 3.5% | 2.5% | 2.5% | 52.86% |
| Samsung Axis Bank Infinite Credit Card | Rs. 5,000 | 3.5% | 2.5% | 2.5% | 52.86% |
| Flipkart Axis Bank Super Elite Credit Card | Rs. 500 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Miles and More World Credit Card | Rs. 3,500 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank AURA Credit Card | Rs. 749 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Freecharge Credit Card | Rs. 350 | 3.5% | NA | 2.5% | 52.86% |
| Axis Bank Freecharge Plus Credit Card | Rs. 350 | 3.5% | NA | 2.5% | 52.86% |
| Axis Bank Ace Credit Card | Rs. 499 | 3.5% | 2.5% | 2.5% | 52.86% |
| Axis Bank Pride Platinum Credit Card | Nil | 3.5% | 2.5% | 2.5% | 41.75% |
| Axis Bank Pride Signature Credit Card | Nil | 3.5% | 2.5% | 2.5% | 41.75% |
| Axis Bank My Zone Easy Credit Card | Rs. 500 | 3.5% | 2.5% | 2.5% | 49.96% |
| Privilege Easy Credit Card | Rs. 1,500 | 3.5% | 2.5% | 2.5% | 49.96% |
| Axis Bank Signature Credit Card | Rs. 3,000 | 3.5% | 2.5% | 2.5% | 49.96% |
| LIC Axis Bank Signature Credit Card | Nil | 3.5% | 2.5% | 2.5% | 52.86% |
| LIC Axis Bank Platinum Credit Card | Nil | 3.5% | 2.5% | 2.5% | Waived |
| Platinum Credit Card | Rs. 500 joining fee & Rs. 200 annual fee | 3.5% | 2.5% | 2.5% | 49.96% |
| Titanium Smart Traveller Credit Card | Rs. 250 joining fee & Rs. 100 annual fee | 3.5% | NA | 2.5% | 49.96% |
| Axis Bank My Wings Credit Card | Rs. 1,200 joining fee & Rs. 500 annual fee | 3.5% | 2.5% | 2.5% | 49.96% |
In addition to the fees and charges mentioned above, Axis Bank also levies the charges mentioned below:
- Cash payment fee: Rs. 100.
- Overdue penalty/ late payment fee: Up to Rs. 1,200.
- Cheque return/ dishonour/ auto-debit reversal fee: 2% of the payment amount (minimum Rs. 450 & maximum Rs. 1,500.
- Surcharge on purchase/ cancellation of railway tickets: As prescribed by IRCTC/Indian Railways.
- Rent transaction fee: 1% (maximum Rs. 1,500) per transaction + GST.
- Dynamic currency conversion markup: 1% + taxes.
- Fuel transaction surcharge transaction: 1% of transaction amount.
- GST: As per existing Government norms.
How to Calculate Axis Bank Credit Card Interest Rate?
Axis Bank charges a monthly interest rate on the balance amount on a daily basis. You can calculate your Daily Periodic Rate by taking the APR (Annual Percentage Rate) and dividing it by the number of days in the year.
For instance, if the monthly interest rate charged by the bank is 13%, the formula for calculating the interest rate will be:
Interest Rate = [(Total Outstanding Amount x 13% per month x 12 months) X number of days] / 365 days.
To this interest, the late payment fee and GST of 18% will be added on interest charges.
The bank adds finance charges to the monthly credit card billing statement of the customer until the outstanding is completely cleared.
How to Calculate Axis Bank Credit Card EMI?
You can use the Axis Bank credit card EMI calculator to calculate the monthly repayment schedule for your EMI purchases on the card. This tool also provides the total interest amount result.
You can calculate the EMI using the Axis Bank credit card EMI interest rate calculator in a few easy steps mentioned below:
- Choose the loan type on the Axis credit card that you want to apply for.
- Enter the required loan amount.
- Choose if you want to enter the interest rate per month or per annum.
- Enter the interest rate.
- Click on the ‘Calculate’ button to know your EMI instantly.
How to Calculate Late Payment Charges on Axis Bank Credit Card?
The late payment charges on Axis Bank credit cards are charged if you could not pay even the minimum amount due on or before the due date. This charge is a fixed amount, levied as per the outstanding balance.
Below is the Axis Bank late payment charges or overdue penalty table according to the total outstanding amount:
| Total Outstanding Amount | Late Payment Charge |
|---|---|
| Less than Rs. 500 | Nil |
| Rs. 501 to Rs. 5,000 | Rs. 500 |
| Rs. 5,001 to Rs. 10,000 | Rs. 750 |
| Above Rs. 10,000 | Rs. 1200 |
Tips to Avoid Paying Interest Rate on Axis Bank Credit Cards
You can avoid the Axis Bank credit card EMI interest rate and some other charges with the following tips:
- Repay the entire amount: The best way to avoid paying any interest on your credit card purchases is to repay the entire amount mentioned in your credit card statement.
- Utilize the interest-free period: Axis Bank credit card due date is usually between 20 and 25 days away from the statement date. This gap is known as the interest-free or grace period. This period offers you some leverage to repay your outstanding loan amount. For purchases made at the starting of the month, the interest-free period is much longer than that for the end of the month purchases. If you can plan your expenses, you can enjoy a longer interest-free period.
- Convert large transactions into EMIs: If you are making a sizeable transaction with your credit card, Axis Bank allows you to convert it into simple EMIs. The interest charged on these EMIs is quite low.
- Avoid cash advances: Unless it is an unavoidable financial emergency, stay clear from cash advances because they attract huge interest and are bad for your credit score too.
Axis Bank Credit Card Interest Rate FAQs
The interest rate for Axis Bank Vistara credit card is 3.6% per month (52.86% per annum).
Axis Bank credit cards come with an interest-free period of 20 to 50 days wherein, you don’t need to pay the interest accrued on the purchases.
Axis Bank charges a cash advance fee of 2.5% of the withdrawn amount.
You can reach the Axis Bank credit card customer care team by dialing 1800 209 5577 or 1800 103 5577 (in India) and +91 - 22-27648000 (if calling from outside India). Alternatively, you can also write email to premium.cards@axisbank.com for more assistance.