1️. Reduced Payment Due Date
IDFC Bank has shortened the payment due date for credit card bills from 18 days to just 15 days, effective September 1, 2024. Ensure payments are made within this new window to avoid penalties and interest.
2️. Lower Minimum Amount Due
Along with the reduced due date, IDFC Bank has also lowered the minimum amount due for credit card holders. This change is designed to streamline the payment process and improve financial management.
3️. Payment Due Date (PDD) Details
The new payment due date will be 15 days from the statement generation date. For example, if your statement period is from October 25 to November 24, your due date will be December 9.
4️. Late Payment Charges
Late payment charges of 15% will apply if the minimum amount due is unpaid by the due date. Ensure funds are credited to your IDFC FIRST Bank Card account on or before the due date to avoid these charges.
5️. Finance Charges
Interest charges will apply on outstanding dues if the total amount due is not paid by the due date. These charges will accrue daily from the transaction date until the balance is settled in full.
Stay updated and manage your payments timely to avoid additional charges.