Bajaj Finserv DBS Bank SuperCards Interest Rate

Different credit cards from the bank may have varying interest rates depending on the issuer's policies. The interest on a DBS Bank credit card also depends on your credit history and profile. 

 

Interest charges are applied only if you pay the minimum amount due or have withdrawn cash from an ATM. Check the annual and monthly interest rate range of these:

Note: 

 

These rates may change as per updates in the issuer’s policies. 

 

The annual interest rate takes into account daily compounding of interest over the unpaid balance. Thus, it may be higher compared to the interest rate charged per month.

 

Understanding when interest is charged on these credit cards is crucial to avoid unnecessary fees. Steer clear of these charges by paying the full amount due before the interest-free period ends. This practice could help you save money and manage your credit effectively. 

 

Here are instances when interest applies: 

• When you do not pay the total amount due by the payment due date

• When you pay only the minimum amount due by the due date

• When you withdraw cash from an ATM, interest is charged until the amount is repaid

• When you transfer the balance from other credit cards to a DBS Bank card or order a demand draft (from the date of the transfer until repayment)

 

Credit cards from this issuer will continue to attract interest even if you close the card account. Interest will apply until you repay the outstanding balance in full.

Learning how interest is calculated on your dues could help you plan credit card payments. Here is a table to help you understand interest calculations on credit cards from this issuer. 

 

 

In this case, your statement will be generated on 2nd August with a due date of 22nd August. 

In this case, your statement will be generated on 2nd September with a due date of 22nd September. 

 

The calculation for the interest on the amount due is based on this formula:

 

Daily interest * No. of days

 

Daily interest = Outstanding amount *(3.5%*12 months)/365

 

Here the interest is calculated as:

• Interest on ₹6,000 from 12th July to 21st August for 41 days: ₹283.07

• Interest on ₹4,000 from 26th July to 21st August for 27 days: ₹124.27

• Interest on ₹4,000 from 10th August to 2nd September for 24 days: ₹110.47

• Interest on ₹2,000 from 15th August to 2nd September for 19 days: ₹43.73

• Interest on ₹9500 (₹10,000 - ₹500 as it is paid) from 22 August to 2nd September for 12 days: ₹131.18

 

Thus, the total interest charges will be ₹692.72 + GST

 

Note: This example is for illustrative purposes only. Please refer to the MITC document for a detailed understanding of how interest is calculated on credit cards from this issuer.

Simply knowing the credit card interest rate specified by DBS Bank may not be enough. You should be aware of other charges that may apply. These are related to facilities like cash withdrawal or international card usage.

 

Here is a list of a few other charges that apply to credit cards from this issuer:

Note: A GST of 18% is applicable on all the charges mentioned above.

 

Disclaimer: These fees and charges are also subject to change at the discretion of the issuer. Before applying, check the issuer’s Most Important Terms and Conditions (MITC) document to verify.

In instances where you must pay interest, try to repay the overdue amount as soon as you can. This will prevent your interest dues from multiplying. The ideal way to avoid interest is to nurture healthy habits.

 

Some of these include: 

• Choosing a billing cycle that helps you clear off credit card dues on time 

• Monitoring your usage and planning bill payments in advance 

• Not delaying bill payment beyond the due date

• Paying the total amount due every month instead of just the minimum amount due 

• Using the cash advance and balance transfer facilities only during emergencies