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SBI vs HDFC Bank vs ICICI Bank vs Axis Bank: Late payment charges of credit cards compared

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Late payment charges of credit cards: How late payment charges of key banks compare? Check our tables for ready reference

SBI vs HDFC Bank vs ICICI Bank vs Axis Bank: Late payment charges of credit cards compared
Credit cards give an individual the freedom to purchase. However, failure to make timely payments of credit card dues can lead a person into a debt trap. Also, he/she will be required to pay  an extra amount on the credit card bills and it is known as the late payment charges.
Key players in the market, like HDFC Bank, SBI Card and Axis Bank have been charging up to Rs 1,300, Rs 1,300 and Rs 1,000 respectively for over Rs 50,000 balance payment. All these lenders have been charging the fees for quite some time whereas ICICI Bank will be charging Rs 1,200 for late payments of Rs 50,000 or more from February 10, 2022 onwards.
Here are the credit card late payment fees of different banks:
State Bank of India (SBI):
Cash Advance Charges2.5% of amount withdrawn or Rs 500 whichever is higher
Late Payment ChargesStatement BalanceCharges
Less than 500NIL
Rs 501-1000400
Rs1001-10000750
Rs 10001-25000950
Rs 25001-500001100
>Rs 500001300
Overlimit Charges2.5% of overlimit amount, subject to minimum of Rs 600
Auto Debit/Cheque Return Fee2 percent minimum 500
HDFC Bank
Cash Advance Charges2.5% of amount withdrawn or Rs 500 whichever is higher
Late Payment ChargesStatement BalanceCharges
Less than 100NIL
Rs 100-500100
Rs 501-5000500
Rs 5001-10000600
Rs 10,001-25,000800
Rs 25,001-50,0001100
>Rs 50,0001300
Overlimit Charges2.5% of over limit amount, subject to minimum of Rs 550
Auto Debit/Cheque Return Fee2% minimum 450
ICICI Bank (wef from Feb 10, 2022)
Cash Advance Charges2.5% of amount withdrawn or Rs 300 Whichever is higher
Late Payment ChargesStatement BalanceCharges
Less than 100NIL
Rs 100-500100
Rs 501-5000500
Rs 5001-10000750
Rs 10001-25000900
Rs 25001-500001000
More than 500001200
Overlimit Charges2.5% of over limit amount, subject to minimum of Rs 550
Auto Debit/Cheque Return Fee2% minimum 500
Axis Bank
Cash Advance Charges2.5% of amount withdrawn or Rs 500 whichever is higher(waived for Axis bank Burgundy private, reserve & Magnus CC)
Late Payment ChargesStatement BalanceCharges
Less than 300NIL
Rs 301-500100
Rs 501-1000500
Rs 1001-10000500
Rs 10001-25000750
Rs 25001-500001000
>Rs 500001000
Overlimit Charges3% of over limit amount, subject to minimum of Rs 500
Auto Debit/Cheque Return Fee2% minimum 450, maximum 1500
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