Card Statement date – 15th of every thirty days.
Deal done between sixteenth JuneвЂ™19 вЂ“ 15th JulyвЂ™19
1. Retail Purchase of Rs. 5000 вЂ“ On twentieth JuneвЂ™19
2. Cash Withdrawal of Rs. 7000 вЂ“ On 10th JulyвЂ™19
Presuming No past Balance carried ahead through the fifteenth June 2019 statement, the cardholder can get their 15thJuly declaration showing Rs.12,000 of deals along side 5 times of finance charges during the rate relevant regarding the Rs.7,000 money withdrawal. The cardholder has to make re re payment resistant to the outstanding by fifth August 2019, i.e. 20 times through the Statement Date, for such a thing involving the whole quantity or minimal Amount Due. Take note that any re re payment made against your charge card outstanding, would first be cleared against your Minimum Amount Due (that is inclusive of most relevant fees, EMI on Loan plans+5% of Total outstanding), charges along with other costs (if any)followed by Balance Transfer stability (if any), retail stability (if any) and could be modified against your money Balance (if any) last. Finance fees would be levied through the past statement date unless in case of non-interest levied outstanding retail stability, where in fact the finance cost is levied through the date regarding the deal. Just in case the declaration outstanding has no money stability and it has maybe not been carried ahead from the past declaration in addition to retail balance outstanding on the declaration date is compensated in complete because of the repayment deadline, No Finance Charges are levied on such balances.
Card Statement date вЂ“ 2nd of on a monthly basis.
Deal done between 3rd JanвЂ™19 вЂ“ 2nd FebвЂ™19
1. Retail Purchase of Rs. 10000 вЂ“ On fifth JanвЂ™19
2. Online Purchase of Rs. 30000 вЂ“ On fifteenth JanвЂ™19
Presuming no balance that is previous ahead from the second Jan 2019 declaration, the cardholder are certain to get their second Feb declaration showing Rs. 40,000 deals. The cardholder has to make re payment contrary to the outstanding by 22nd Feb 2019, in other words. 20 times from the Statement Date, for any such thing involving the amount that is entire the minimal Amount Due. No Finance Charges are levied on such balances in case the statement outstanding has no cash balance and has not been carried forward from a previous statement and the retail balance outstanding on the statement date is paid in full by the payment due date. Making only the payment that is minimum month would end in the payment stretching through the years with consequent interest re re payment in your outstanding balance.
For e.g. on a deal of Rs. 5,000 if minimal Amount Due is compensated on a monthly basis (susceptible to the absolute minimum level of Rs. 200 each month), it may need as much as 44 months for whole outstanding debt amount to be compensated in complete.
Card Statement date вЂ“ 2nd of on a monthly basis
Deal done between third March вЂ™19 вЂ“ 2nd April вЂ™19
(1) Annual Fee of Rs. 500 вЂ“ On 5th March вЂ™19
(2) Applicable fees of Rs. 72.50 вЂ“ On 5th March вЂ™19
(3) on line Purchase of Rs. 6000 вЂ“ On fifteenth March вЂ™19
Presuming no balance that is previous ahead through the 2nd March 2019 declaration, the cardholder are certain to get his second April declaration showing Rs. 6,590 deals. The cardholder has to make payment up against the outstanding by 22nd April 2019, for example. 20 times through the Statement Date, for any such thing involving the entire quantity or minimal Amount Due. Presuming the cardholder helps make the re payment of minimal Amount Due of Rs. 415, (5% of Total outstanding) + relevant fees on 22nd April 2016, rounded down to decimal point that is nearest, finance fees will be levied during the effective price and put into the full total outstanding. Thinking about the effective rate of 3.50% p.m., finance fee calculation will soon be done the following:
From the stability of Rs. 500 (5th March to 22nd April) for 49 times: (3.50*12)*(49/365)*500/100= Rs. 28.19
Regarding the relevant fees of Rs. 90 March that is(5th to April) for 49 times: (3.50*12)*(49/365)*90/100= Rs.5.07
From the balance of Rs. 6000 (fifteenth March to 22nd April) for 39 times: (3.50*12)*(39/365)*6000/100= Rs. 269.26
In the balance of Rs. 6,175 (22nd April to second might) for 10 times: (3.50*12)*(10/365)*6175/100= Rs. 71.05
Total Interest charged = Rs. 373.57
Amount of Outstanding purchase quantity, Interest costs, costs and costs, if any, and relevant fees would mirror whilst the amount that is total within the statement dated second might presuming the card owner doesn’t make any deals between third April вЂ19 вЂ“ 2nd May вЂ19.
Every month and also keep paying the interest amount he would clear the outstanding in 20 months (100%/ 5% = 20) if the cardholder keeps making the Minimum Amount Due (5%) payment.
Then Finance charges will be levied on the closing balance till the payment date if the Cardholder makes partial or no payment of Total amount due(TAD) before Payment due date(PDD); i.e. the Customer has outstanding balance from previous months and in the current month, full payment of Total amount due is made before Payment due date.
Card Statement date вЂ“ 2nd of on a monthly basis.
Transactions done between third DecвЂ™18 вЂ“ 2nd JanвЂ™19
1) Retail buy of Rs. 500 вЂ“ On fifteenth DecвЂ™18
2) Online Purchase of Rs. 600 вЂ“ On twentieth DecвЂ™18
Presuming the cardholder makes partial re re payment of of Rs. 500, on 22nd- Jan 2019, finance costs could be levied in the rate that is effective included with the full total outstanding. Thinking about the rate that is effective of% p.m., finance cost calculation should be done the following
Regarding the stability of Rs. 500 (15th Dec to 22ndJan) for 39 times: (3.50*12) * (39/365) *500/100 = Rs. 22.43
From the balance of Rs. 600 (20th Dec to 22nd Jan) for 34 times: (3.50*12) * (34/365) *600/100 = Rs. 23.47
From the stability of Rs 600(22nd Jan to 2nd Feb) for 10 days (3.50*12) * (10/365) *600/100 = Rs. 6.90
Total Interest Charged = Rs. 52.80
Deals done between 3rdFebвЂ™19 вЂ“ 2ndMarвЂ™19
1) Starting stability of Rs. 652.80 вЂ“ On 3rd FebвЂ™19
2) Retail Purchase of Rs. 1000 вЂ“ On fifth FebвЂ™19
3) Online Purchase of Rs. 3000 вЂ“ On fifteenth FebвЂ™19
Presuming past stability of Rs. 652.80 carried ahead from the 2ndFeb 2019 declaration, the cardholder needs to make re re payment up against the outstanding by 22nd Feb 2019, in other words. 20 times through the Statement Date, for any such thing involving the amount that is entire minimal Amount Due.
Presuming Cardholder makes complete re re re payment by fifteenth Feb in other words. within repayment due date. Thinking about the rate that is effective of% p.m., finance fee calculation will undoubtedly be done the following:
Regarding the Balance of Rs. 652.80 (3rdFeb вЂ“ 15thFeb) for 12 times: (3.50*12) *(12/365) * 652.80/100 = Rs. 9.01
(3.35*12) *(12/365) * 650.56/100 = Rs. 8.60
Total Interest Charged = Rs. 9.01
Amount of Outstanding purchase quantity, Interest costs, costs and fees, if any, and all sorts of relevant fees would reflect once the Total 6 quantity due when you look at the statement dated second March.