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HDFC Bank to doubles fees charged on cash payments for credit card

08 Oct 2012 Evaluate

HDFC Bank, leading private sector lender is likely to double the fees charged on cash payments made towards credit card bills to Rs 100 from the next month. At present it is charging a processing fee of Rs 50 for every credit card repayment. 

As per the banks estimates, about one-third of total credit card users make cash payments. Last fiscal, credit card users spent an average Rs 55,000 almost 3 times the Rs 19,000 spent five years ago, so lot manual work involved in branch-level transactions and that is the reason customers are asked to pay for these services.

HDFC Bank Share Price

784.50 -15.40 (-1.93%)
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Company Name CMP
HDFC Bank 784.50
ICICI Bank 1347.75
Axis Bank 1369.55
Kotak Mahindra Bank 370.40
Indusind Bank 860.45
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