RBL Bank Credit Card Interest Rates in 2024

Interest Rate on the Bajaj Finserv RBL Bank Credit Cards

RBL Bank charges interest on unpaid balances, on payments of only the minimum amount due, and on cash withdrawals from ATMs using your SuperCard's credit limit.

Check the monthly and annual RBL Bank credit card interest rate of cards available on Bajaj Markets.

Credit Card	Monthly Interest	Annual Interest
Bajaj Finserv RBL Bank Binge SuperCard	3.99%	47.88%
Bajaj Finserv RBL Bank Platinum Choice SuperCard	3.99%	47.88%

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 sometimes be higher compared to the interest rate charged per month.

Instances When Interest Applies to Bajaj Finserv RBL Bank SuperCards

Knowing when interest is applicable can help you use your SuperCard better. The upside is that if you clear the total due amount before the interest-free period ends, you can use your card without any interest charges.

Here are the instances where interest is chargeable:

If you do not clear the total amount by the payment due date, interest will apply to the total amount due
Even if you pay the minimum amount due by the payment date, RBL Bank charges interest on the total amount due (entire balance)
Until the overdue balance is fully repaid, interest will apply to every new transaction
If you withdraw cash from an ATM, interest will be applicable from the time of withdrawal until repayment

How to Calculate Interest on the Overdue Balance of Bajaj Finserv RBL Bank SuperCards

Knowing the interest you can expect to pay can help you use the card and plan your finances better. Take a look at how interest is charged on SuperCards:

Particulars	Applicable Dates
Statement Cycle	From the 2nd of one month to the 1st of the next month
Statement Generation Date	2nd of each month
Payment Due Date	22nd of each month
Monthly Interest Rate	3.99%

Cycle 1: 2nd December to 1st January
Purchases on 12th December and 26th December	Membership Fee + GST	Total Amount Due (TAD)	Minimum Amount Due (MAD)
₹6,000 + ₹4,000	₹499 + ₹89.82	₹10,588.82	₹1,088.82

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

Cycle 2: 2nd January to 1st February
MAD paid on 22nd January	Purchases on 10th January and 15th January	TAD	MAD
₹1,088.82	₹4,000 + ₹2,000	₹16,431.84	₹956.63

Here the interest is calculated as:

Interest on ₹6,000 from 12th December to 1st January = ₹165.28
Interest on ₹4,000 from 26th December to 1st January = ₹36.73
Interest on ₹6,000 from 2nd January to 21st January = ₹157.41
Interest on ₹4,000 from 2nd January to 21st January = ₹104.94
Interest on ₹4,000 from 10th January to 2nd February = ₹125.93
Interest on ₹2,000 from 15th January to 2nd February= ₹49.85
Interest on ₹9,500 from 22nd January to 2nd February after adjusting payment of ₹1,088.82 = ₹149.54

Total to be paid (inclusive of interest and 18% GST) = ₹931.84

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.

Other Bajaj Finserv RBL Bank SuperCard Charges

Apart from the credit card interest rate of RBL Bank, there are other charges that may apply based on your usage. These include using the SuperCard overseas or converting bills into EMIs.

Here is a list of other charges that apply to these credit cards:

Fee Type	General Range
Cash Withdrawal Fee	2.50% of over-limit amount, subject to a minimum of ₹500
Over-limit Penalty	2.50% of over-limit amount, subject to a minimum of ₹500
Foreign Transaction Fee	Up to 3.50% of the transaction amount
Late Payment Fee	Up to ₹1,300 based on the overdue balance

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.

How to Avoid Paying Interest on Bajaj Finserv RBL Bank SuperCards

If you do incur interest, try to repay the outstanding amount as quickly as possible. This will help keep the accumulating interest in check. The simplest way to avoid paying hefty interest is to develop good credit habits.

Some of these include:

Adjusting your billing cycle to coincide with your salary or earnings
Using the card smartly by carefully planning the budget and bill payment
Settling bills by the due date or within the 3-day grace period
Paying the total amount due every time instead of merely the minimum amount due
Using the cash advance feature only when needed

DISCLAIMER

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees and charges with regard to any credit card, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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What are the interest rates on Bajaj Finserv RBL Bank Credit Cards?

The interest rates on Bajaj Finserv RBL Bank SuperCards vary depending on the specific card variant. There are several SuperCard options, each with its unique features and benefits, resulting in different interest rate ranges. Typically, rates fall around 12.5% per month.

How can I find out the interest rate on my specific SuperCard?

You can find the applicable interest rate for your card in two ways:

Check your monthly statement: The statement clearly mentions the interest rate you are charged.
Visit the Bajaj Finserv or RBL Bank website: Navigate to the SuperCard page and select your specific variant. The interest rate will be listed in the card details.

Do any introductory offers affect the interest rate?

Some SuperCard variants offer introductory periods with 0% APR on purchases or balance transfers. However, these offers are for a limited duration, and the standard interest rate applies after the promotional period ends.

What factors influence the interest rate I am offered?

Several factors can impact the interest rate offered, including:

Your credit score: Higher scores generally lead to lower rates
Your income: Individuals with higher income may qualify for better rates
Your card variant: Premium cards with more benefits typically have higher rates
Your credit limit: Cards with higher limits often have higher rates

Can I negotiate the interest rate on my RBL Bank Credit Card?

Generally, interest rates are not negotiable. However, maintaining a good credit score and making timely payments can help you qualify for better rates when applying for future cards.

Are there any additional fees related to interest charges?

Yes, some SuperCards may have additional fees associated with interest, such as:

Late payment charges: Penalties for payments not received by the due date
Over-limit charges: Fees incurred for exceeding your credit limit
Balance transfer fees: Charges applied when transferring debt from another card

How can I minimise the interest I pay on my SuperCard?

Here are some tips to minimize interest charges:

Pay your balance in full and on time: This avoids interest charges altogether
Choose a card with a lower interest rate: Compare rates before applying
Avoid exceeding your credit limit: Keeps your outstanding balance lower

Is there any interest-free period for paying off the balance on the Bajaj Finserv RBL Bank SuperCard?

Yes, the interest-free period on the Bajaj Finserv RBL Bank SuperCard is the duration during which no interest is levied on the transactions made. You can check the terms and conditions of your credit card to identify the interest-free period.