Credit Cards FAQs

• Applying for a credit card
• Activating your credit card
• Managing your credit card
• Overlimit facility
• Fees and general questions
• Balance transfers
• Cash-on-EMI
• Loan on phone
• Balance conversion
• Instant EMI
• Credit Card Limit Change
• Chip Credit Cards
• SMS OTP / Securepay Authentication
• Payment Hierarchy
• Raise Online Dispute

HSBC Credit Cards have been designed to complement your lifestyle. We currently offer credit cards which extend a host of offers ranging from travel privileges to dining, shopping and more.

Please visit the credit cards section on our website for details on the various credit cards we offer, product features, benefits and the eligibility criteria.

Please note that the original documents need to be originally sighted and verified by a bank official:

• Self-attested recent passport size photograph of the applicant
• Self-attested copy of a valid photo identity document (please refer to the list below for details)
• Self-attested copy of your residence address proof (please refer to the list below for details)
• Self-attested copy of the latest salary slip or income tax returns or Form 16

• Passport
• Election/Voter's ID
• Permanent driving licence
• Permanent Account Number (PAN) card
• Aadhaar card
• National Rural Employment Guarantee Act (NREGA) job card
  
  

Proof of Address (any one)

• Passport
• Election/Voter's ID
• Permanent driving licence
• Society outgoing bill (only from registered societies)
• Electricity/Water/Telephone bill
• Gas bill (pipeline connection only)
• Property tax bill
• Domicile certificate with address issued by Municipal
  
  

Corporation

• Registered rent/lease agreement (registered with state government or similar registration authority)
• Government employee ID card
• Defence ID card
• Aadhaar card
• National Rural Employment Guarantee Act (NREGA) job card

If the address on the document submitted as Proof of Identity (P.I.) by you is the same as that declared by you in the Account Opening Form (A.O.F.)/Card Application Form (C.A.F.), the document may be accepted as a valid proof of both identity and address. If the address indicated on the document submitted for P.I. differs from the address mentioned in the A.O.F./C.A.F., a separate Proof of Address is required.

To apply for an HSBC Credit Card you can:

• Visit the credit card section on our website www.hsbc.co.in/credit-cards/. Simply click the "Apply Now" icon to initiate your application or
• Call our HSBC PhoneBanking numbers and we will arrange for a representative to visit you or
• Visit the nearest HSBC branch in India
  

You will receive timely alerts on the credit card application status by way of an SMS on the mobile number stated on your application form. Alternatively, you may also check the status of your application by calling our PhoneBanking number in your city.

Once we have received your application form complete in all respects along with all the required documents, your application will be processed within two weeks. You will receive your new credit card in 7 working days, once your application is approved. The Bank will send you timely alerts on the credit card application status by way of an SMS on the mobile number stated on your application form.

Once your credit card is dispatched, you will receive the dispatch details by way of an SMS on your mobile number registered with us.

You can track the status of the shipment using the Airway Bill on the courier's website.

• Blue Dart: Bluedart.com
• DHL: Dhl.com

If you need any further assistance, please call our Phone Banking number.

All Chip cards are sent in a deactivated state and need to be activated. If a card has been sent to you in a deactivated state, the same will be indicated by a sticker on the card sent to you.

You may activate the card in any of the following ways:

• Use your HSBC India Mobile banking app to activate the card
• Use your ATM PIN to activate the card on an HSBC ATM
• Perform a PIN based transaction
• Call HSBC India PhoneBanking
  

You can apply for upto 3 additional (add-on) cards in addition to the primary card. The add-on cards can be issued to immediate family members. The credit limit assigned to the primary card is shared between the primary and the add-on Cardholders and the primary Cardholder is responsible for the payment of outstanding against these cards.

You can fill the add-on card request form (available on our website www.hsbc.co.in under applications) and submit it across the counter at an HSBC branch along with mandatory documents listed in the application. Please carry your original documentation for validation by the Branch Officer.

Simply log on to the HSBC India mobile app, select your credit card from the account list, tap manage cards and then tap 'Activate' and follow the on-screen instructions.

All HSBC personal new, renewed and replacement credit cards can be activated via the HSBC India mobile app.

The activation process is usually instantaneous. Once you have successfully completed the activation steps, your credit card should be ready to use directly.

Yes, primary card holder can activate their supplementary cards through the HSBC India mobile app.

Your credit card statement is couriered to your mailing address and the Airway Bill number (courier reference number) would have been sent by way of an SMS. The Bank also sends out statements by e-mail to your personal e-mail address registered on the Bank's record.

Customers who have self-registered for Internet Banking service, can view and download their credit card statement online; just visit the Ways to Bank section on our website. In case you need any further assistance, please call our Phone Banking service.

1. Log onto HSBC's Internet Banking.
2. Set up a one-time request by clicking on the "Request e-statements/e-Advice" option in the Main Menu.
3. We will send you a secure mail and an SMS alert informing you when your e-statement is ready.

Please note that the statements will be held on your HSBC Internet Banking account for 11 months for cards and 15 months for bank accounts. You may download these statements onto your computer, if you want to store them for a longer period.

There are two ways to change your credit card PIN:

1. At any HSBC ATM worldwide
2. Using HSBC India Mobile Banking App
   
   1. Log on to the app
   2. Select your credit card
   3. Tap 'Manage cards'
   4. Select 'Reset credit card PIN'
   5. Submit the request

• Log on to HSBC India Mobile Banking app
• Select your credit card number > Tap on 'Manage cards'
• Select 'Set Transaction Type control'
• Update the desired domestic or international limit
• Select 'Save' to submit the request

No, once you have activated your credit card, all the transaction limits for online, contactless and international payments will be enabled.

Here are some easy ways to pay your HSBC Credit Card bill:

• National Electronic Funds Transfer (N.E.F.T.)
  Make a payment towards your HSBC Credit Card account via National Electronic Fund Transfer (N.E.F.T.), mentioning the complete 16-digit HSBC Credit Card number. The IFSC code for HSBC is HSBC0400002
• Drop-boxes
  Drop your draft/cheque at your nearest Skypak or M.I.N.C. drop-boxes. Download an exhaustive list (PDF, 259 KB) of the Skypak and M.I.N.C. drop-boxes
• Mail cheque/draft
  Mail your cheque/draft to your nearest HSBC branch. Log onto www.hsbc.co.in to view a list of our branches
• Standing Instructions (Option available for HSBC bank accountholders only)
  Issue standing instructions to debit your HSBC Savings/Current account
• Internet Banking (Option available for HSBC bank accountholders only)
  Pay online by logging onto HSBC Personal Internet Banking
• Over the counter
  Pay by cash or cheque at any HSBC branch in India. A "Cash Payment Charge" of ₹100, or any other sum as may be decided from time to time, will be levied for HSBC Credit Card bill payments made in cash at HSBC branches and drop-boxes
• PhoneBanking (Option available for HSBC bank accountholders only)
  Make a PIN verified call and make your payment over the phone
• Through ATMs
  Deposit cash or cheque at any HSBC ATM in India. You could also make an ATM funds transfer
• Electronic Clearing System (E.C.S.) (Option available in select cities only)
  Authorise HSBC to debit an account that you hold with any other bank

You can call our PhoneBanking Officers for more details on any of the above payment channels. You can also visit our website www.hsbc.co.in

HSBC offers various credit cards to suit your needs. The rewards programme for each credit card may differ.

You can visit www.hsbc.co.in/credit-cards/rewards/ to view the ongoing rewards programme for the various credit cards we offer.

Reward point expiry will follow a rolling expiry system with a reward point validity period of 2 years, reward points earned during the 1st year of card membership, if not redeemed, will expire at the end of the 2nd year of card membership, reward points earned during the 2nd year of card membership, if not redeemed, will expire at the end of the 3rd year and so on. The 1st year of card membership begins from the date of credit card issuance. For instance, for a credit card issued on 10 March 2011, the reward points earned from 10 March 2011 to 10 March 2012, if unredeemed will expire on 31 March 2013.

Reward point expiry will follow a rolling expiry system with a reward points validity period of 3 years, reward points earned during the 1st year of card membership, if not redeemed, will expire at the end of the 3rd year of card membership, reward points earned during the 2nd year of card membership, if not redeemed, will expire at the end of the 4th year and so on. The 1st year of card membership begins from the date of credit card issuance. For instance, for a credit card issued on 10 March 2011, the reward points earned from 10 March 2011 to 10 March 2012, if unredeemed will expire on 31 March 2014.

You can visit the special offers and discounts section within the credit card section on our website www.hsbc.co.in to view the current offers on your credit card.

Overlimit facility requests are approved instantly in the HSBC India Mobile Banking app.

To enable your credit card overlimit facility, follow these steps:

1. Log on to the HSBC India Mobile Banking app
2. Tap ‘Credit card’ from the home page
3. Tap ‘View more’
4. Tap ‘Manage cards’
5. Tap ‘Overlimit facility’, tap the T&Cs link, check box and confirm

If you want to disable the overlimit facility, tap on the Overlimit facility tab to toggle it off.

Each credit card has an approved credit limit, which is the maximum amount you can spend on the card.

When you make purchases that exceed the approved credit limit, a fee of 2.5% of the overlimit amount, or INR 500 whichever is higher, is charged along with the applicable GST. The fee is levied on the first overlimit transaction in the payment cycle.

View our overlimit facility terms and conditions.

HSBC offers various credit cards to suit your needs. The fees and charges for each credit card may differ.

You can visit www.hsbc.co.in/credit-cards/ to view the fees and charges for the various credit cards we offer.

You can redeem these points for a range of redemption options including garments, home appliances, cosmetics, gift vouchers, airline miles and donation to charities. Please visit the credit cards - rewards programme section on our website to view all the redemption options.

To redeem your reward points, use any of the below options:

• You can access the online credit card rewards catalogue on www.hsbc.co.in. Please note, you need to have registered for
• Internet Banking ID to be able to redeem your points online
• You can download the rewards redemption form from our website www.hsbc.co.in and mail it to HSBC Card Products Division,
• Post Bag Number 5080, Chennai - 600 028
• You can call our PhoneBanking number and request a redemption on the IVR or by speaking with a PhoneBanking Officer
  

The CVV Number (Card Verification Value) on your credit card or debit card is a 3-digit number on Visa and MasterCard® credit and debit cards. The CVV should not be disclosed to any person other than the Cardholder. Your CVV number can be located by looking on your credit or debit card, as illustrated in the image below:

Interest free credit period is provided upto 52 days. Please note that the interest free credit period is not valid, if any balance of the previous month's bill is outstanding or in the event of making part/minimum outstanding payment.

You can refer to the most important terms and conditions sent along with your credit card to view the charges applicable and the calculation for the same for your credit card. Alternatively, you can visit the credit card section on our website www.hsbc.co.in for the said details.

Your cards are valid internationally and there will be no extra charge levied for usage at points of sale however the currency conversion charge will apply. You'll be charged a transaction fee for cash withdrawals at ATMs abroad. Refer to the Tariff Sheet in the Service Guides of the respective credit cards.

Your monthly payment should cover at least the minimum amount due. Minimum Payment Due (MPD) is the sum of 5% of the total payment due and the greater of the past due amount and overlimit amount (if any). For e.g. i.e. MPD = 5% of total payment due + greater of (past due; overlimit amount) + Equated Monthly Instalment* (EMI) amounts due (if any).

Your cheque payment deposited will take 3 working days to reflect in your card account.

In the event that you lose your credit card, please:

• Report the loss to HSBC PhoneBanking or to the Visa Global Emergency Assistance Helplines immediately
• Request replacement at HSBC PhoneBanking/Branch/Internet Banking
• File a police report for the lost/stolen HSBC Credit Card
• Please confirm the loss in writing to, The Manager, Credit Cards, Post Box Number 5080, Chennai – 600 028

If you recover your HSBC Credit Card after you have reported its loss, please do not attempt to use it.
Instead, please destroy the HSBC Credit Card by cutting it into several pieces and report the same to HSBC.

Registering for HSBC's Internet Banking service is a simple one-time activity. Self-register with any one of the combinations below:

• Your 10-digit Personal Banking Number (PBN), and your 6-digit PhoneBanking PIN; or
• Your credit card number and credit card ATM PIN; or
• Your ATM card number and ATM PIN; or
• Your debit card number and debit card PIN. Please note, you should have activated your ATM/debit card by using it at an HSBC ATM at least once
  

You will need to visit the nearest HSBC bank branch to set up a direct pay instruction from your HSBC account.

Please call HSBC PhoneBanking number or send a secured message (by logging onto Internet Banking) to replace the credit card.

Yes, you will receive a new HSBC Credit Card 2-3 weeks prior to expiry of the credit card.

You can call HSBC PhoneBanking or send a secured message (by logging onto Internet Banking) to request for a decrease in limit on your credit card. This is subject to the minimum limits set by HSBC on your credit card.

You can apply for an increase in credit limit by filling up the "Credit Limit Enhancement Form" available under the Application Forms section of our website www.hsbc.co.in. You are also requested to submit necessary documents with the credit limit enhancement form. In such case, HSBC request you for financial documents and may at its sole discretion, increase the credit limit post necessary credit checks.

You will be able to withdraw cash at an ATM, provided the withdrawal amount is within your cash withdrawal limit. Cash withdrawal limit is communicated to you at the time of delivery of the card and is also indicated in your monthly card statement.

You can visit www.hsbc.co.in/credit-cards/ page to view the fees and charges for cash withdrawal on your card.

You can exercise any of the following options to initiate closure of your HSBC Credit Card:

• Login to HSBC Internet Banking with your user ID and password and submit your request
• You can also call HSBC PhoneBanking and register a card closure request
• Alternatively, can submit a written request at any HSBC branch

Please remember to cut your card into pieces across the Chip and magnetic stripe, post-submission of your closure request.

You can exercise any of the following options for transaction query on your HSBC Credit Card:

• Login to HSBC Internet Banking with your user ID and password and submit your request by sending us a secured e-mail
  
• You can also call HSBC Phone Banking

In the event, you suspect fraudulent activity on your card, please immediately:

• Notify the Bank. Please call our PhoneBanking numbers
• Block the card
• Request for a replacement

Please mail the completed customer dispute form (please refer to our website www.hsbc.co.in under application forms) and the relevant documents to 

Charge Back Section, Credit Card Division, Post Box Number 5080, Chennai – 600 028.

Please refer to www.hsbc.co.in/credit-cards/ for service guide and most important terms and conditions to view the claims process for the relevant card.

You may update your contact number/e-mail ID by logging onto HSBC Internet Banking or by calling our PhoneBanking numbers.

Please contact the toll free number of ICICI Lombard, to register the claim visit Icicilombard.com. You are also required to file a police report for the lost/stolen HSBC Credit Card and send a copy of the acknowledged police report directly to ICICI Lombard General Insurance Company Ltd. to enable them to process the insurance claim.

The following documents are required to file the claim with ICICI Lombard General Insurance Company Ltd.


Counterfeit

• Claim form duly filled and signed by customer/by bank (on behalf of the customer)
• Card copy
• Recent 3 months card statement
• Copy of dispute letter given by customer to bank – verified by bank
• Copy of incident report by bank
• Complete passport copy (all 36 pages) – Attested by gazetted officer/verified by bank – If fraud happened in international location
• Copy of sales slips for the fraud transactions – If fraud happened in India
• If claim amount >1 lakh, Anti Money Laundering (AML) Documents – Notarised/Attested by gazetted officer (PAN Card copy,
• Address proof, 2 passport colour photos of claimant)^*
• N.E.F.T. mandate form duly filled in by the claimant and verified by bank – original (for direct fund transfer)^*
• Cancelled cheque – original (for direct fund transfer)^*

Lost Card Liability

• Claim form duly filled and signed by customer/by bank (on behalf of the customer)
• Copy of F.I.R. at loss location - Attested by gazetted officer/verified by bank
• Recent 3 months card statement
• Copy of dispute letter given by customer to bank - verified by bank
• Copy of incident report given by bank
• Complete passport copy - Attested by gazetted officer/verified by bank
• If claim amount >1 lakh, Anti Money Laundering Documents - Notarised/Attested by Gazetted Officer (PAN Card copy, Address proof, 2 passport colour photos of claimant)*
• N.E.F.T. mandate form duly filled in by the claimant and verified by bank - original (for direct fund transfer)^*
• Cancelled cheque - original (for direct fund transfer)^*
  

Online Fraud Protection

• Claim form duly filled and signed by customer/by bank (on behalf of the customer)
• Card copy
• Recent 3 months card statement
• F.I.R. Report - Notarised/attested by a gazetted officer
• Copy of dispute letter given by customer to bank - verified by bank
• Incident report given by bank
• Complete passport copy - attested by gazetted officer/verified by bank - If fraud happened in international location
• If claim amount >1 lakh, Anti Money Laundering documents - Notarised/Attested by gazetted officer (PAN Card copy, Address proof, 2 passport colour photos of claimant)^*
• N.E.F.T. mandate form duly filled in by the claimant and verified by bank - original (for direct fund transfer)^*
• Cancelled cheque - original (for direct fund transfer)^*

• Claim form duly filled and signed by customer
• Card copy
• Copy of F.I.R. - Attested by gazetted officer/Verified by bank
• Card Statement showing purchase details of the item lost
• Incident letter by the customer
• Proof of purchase bill: Original
• If claim amount >1 lakh, Anti Money Laundering documents - Attested by gazetted officer (PAN Card copy, Address proof, 2 passport colour photos of claimant)^*
• N.E.F.T. mandate form duly filled in by the claimant and verified by bank - original (for direct fund transfer)^*
• Cancelled cheque - original (for direct fund transfer^)*
   

^*Documents need not to be provided when the claim amount is being paid to bank.

You can request for a new PIN in any of the following ways:

• Call our PhoneBanking numbers
• Send a secured message after logging into Internet Banking
• Visit the branch to place the request

The ATM PIN will be dispatched to your mailing address within 7 working days of placing the request.

You can re-generate the PhoneBanking PIN by calling our HSBC PhoneBanking number. Please keep your ATM PIN handy to generate the new telephone PIN. Follow the IVR to generate the new telephone PIN yourself. You can alternatively speak to our service advisors who will be eager to assist you with the telephone PIN.

The recurring debit may originate from a debit mandate that you may have given to a merchant establishment. Please approach the same merchant to cancel the recurring debit instruction.

Balance transfer on EMI is a feature that allows you to transfer the outstanding balance from your other credit cards to your HSBC Credit Card and repay in easy monthly instalments.

You may call up our PhoneBanking services for checking your eligibility.

The minimum amount that can be transferred from any other bank credit card account to the Cardholder's HSBC Credit Card is ₹3,000.

The maximum amount that can be transferred from other bank credit cards to the Cardholder's HSBC Credit Card is upto 90% of the credit limit on the Cardholder's HSBC Credit Card subject to available balance as on the date of approval of the Cardholder's application.

If the amount to be transferred to the HSBC Credit Card exceeds 90% of the credit limit on the date of acceptance by HSBC, HSBC will not be able to process the request and the same will be intimated to you. HSBC will transfer the amount by way of a demand draft sent to your mailing address or directly to the other bank through electronic transfer.

You have the option of various tenures viz. 6 months, 12 months, 18 months and 24 months

The Cardholder can transfer outstanding balance from one or more select other bank credit cards under the same or different balance transfer options, within his credit limit. However, the customer cannot transfer such balance from his/her other HSBC Credit Card.

The interest rate chargeable depends on the type of card you hold and the plan you choose. The interest rates ranging from 10.99 to 15.99%p.a. There is also a one time processing fee 1.5% (subject to a min of INR200).For more details you can call HSBC PhoneBanking number or visit www.hsbc.co.in


How will my credit card limit be affected?

Balance transfer transaction will block the available credit limit on the Cardholder's credit card upto the amount of balance transfer-on-EMI availed including applicable charges and Service Tax.

In the event, a Cardholder transfers different amounts under different balance transfer options, the repayment will be allocated to the balance transfers in decreasing order of the interest rates i.e. the repayment will be apportioned first to the highest interest balance transfer for the Cardholder. In case a Cardholder has availed of two or more separate balance transfers of the same tenure, the repayment will be allocated in the same sequence that the balance transfers have been applied for.

Pre-payment charges on foreclosure of Balance transfer facility will not apply.

If the Cardholder closes his card before all applicable EMIs are posted to the card account, the outstanding Balance transfer-on-EMI amount will be debited to the card account as one consolidated amount which will be due for payment.

The Cash-on-EMI facility allows the Cardholder to avail the cash advance facility on his/her HSBC Credit Card and repay the same in Equated Monthly Instalments (EMIs).

This facility allows you to avail a cash advance facility without any documentation and also save your interest costs.

You can apply for Cash-on-EMI via HSBC India Mobile banking app. Click here to learn more.

Cash-on-EMI application via HSBC India Mobile Banking app will be approved and processed on the next day. We will transfer the money within the next 2 working days. Kindly check with your receiving bank to confirm the receipt of fund. For application via other channels, approval may take up to 5 working days.

Once the Cash-on-EMI plan is approved, an Email notification will be sent to your registered HSBC email address. Alternatively, you can also view the approved Cash-on-EMI via HSBC India Mobile Banking app.

You may call up our Phone Banking services for checking your eligibility.

The minimum amount eligible for the Cash-on-EMI facility will be ₹5,000 subject to eligibility.

The maximum amount that can be offered is upto 95% of the credit limit on the Cardholder's HSBC Credit Card subject to available balance as on the date of approval of the Cardholder's application. If the outstanding balance on the HSBC Credit Card exceeds 95% of the credit limit on the date of acceptance by HSBC, HSBC will not be able to process the request and the same will be intimated to the customer.

You have the option of various tenures viz. 6 months, 12 months, 18 months, 24 months, and 36 months.

The interest rate chargeable depends on the type of card you hold and the plan. The interest rates range from 14.49%p.a. to 21.99%p.a. In addition, there is a one-time processing fees 2.5% (subject to a min of INR250) applicable. For more details please contact HSBC PhoneBanking numbers.

If the Cardholder closes his card before all applicable EMIs are posted to the card account, the outstanding Cash-on-EMI amount will be debited to the card account as one consolidated amount which will be due for payment.

Yes, you can certainly pre close "Loan On Phone" facility. Prepayment charges on foreclosure will apply at the rate of 3% on the outstanding amount of the loan, subject to a minimum of ₹250.

Loan On Phone (L.O.P.) is a facility by which the Cardholder can make purchases on the HSBC Credit Card and then convert the purchase amount into instalments. The Cardholder can make the purchase at any merchant establishment and post purchase, get the transaction converted into an L.O.P. within 15 calendar days of the purchase transaction.

This facility allows you to convert your outstanding balance into Equated Monthly Instalments (EMIs).

You may call up our PhoneBanking services for checking your eligibility.

The value of the transaction should be greater than ₹2,000 to be eligible for conversion to a Loan On Phone. Other debit transactions like cash withdrawals and card fees will not be eligible for this facility.

You have the option of various tenures viz. 6 months, 12 months, 18 months and 24 months.

The interest rate chargeable depends on the type of card you hold and the plan. The interest rates range from 10.99 to 24%p.a. In addition, there is a one-time processing fees 2.5% subject to a min of INR200 applicable. For more details please contact HSBC PhoneBanking numbers.

If the Cardholder closes his card before all applicable EMIs which are posted to the card account, the outstanding Loan On Phone amount will be debited to the card account as one consolidated amount.

Yes, you can certainly pre close "Loan On Phone" facility. Prepayment charges on foreclosure will apply at the rate of 3% on the outstanding amount of the loan, subject to a minimum of ₹250.

In balance conversion, the Cardholder can convert the retail outstanding balance on HSBC Credit Card, due to HSBC, either billed or unbilled by request, into EMIs.

This facility allows you to convert your outstanding balance into Equated Monthly Instalments (EMIs).

You may call up our PhoneBanking services for checking your eligibility.

Minimum amount that you may convert into EMI should be greater than ₹5,000.

You have the option of various tenures viz. 3 months, 6 months and 12 months.

The interest rate chargeable are as follows:

• 3 months - 0% interest and 3% processing fees.
• 6 months - 0% interest and 5% processing fees.
• 12 months - 15% interest and 2% processing fees.

Instant EMI facility by which the Cardholder can convert his/her purchases into Equated Monthly Instalments at the Point of Sale, while purchasing a product at select merchant outlets.

This facility allows you to pay in Equated Monthly Instalment (EMI) for your purchase at the Point of Sale only at select merchant outlets.

The minimum amount that you may convert into EMI should be greater than ₹2,000.

You have the option of various tenures viz. 3 months, 6 months,12 months and 18 months. The tenure options may vary across different merchants, which will be communicated to you at the time of purchase.

The processing fee, if charged, may vary depending on the merchants. The same will be clearly communicated at the time of the transaction.

If the Cardholder closes his card before all applicable EMIs which are posted to the card account, the outstanding amount will be debited to the card account as one consolidated amount. The Cardholder will have to ensure that the outstanding is paid in full to ensure complete closure of the card.

Yes, the Prepayment charges on foreclosure will apply at the rate of 3% on the outstanding amount of the loan, subject to a minimum of ₹250.

The interest rate chargeable are as follows:

• 3 months: 12.5% interest
• 6 months: 12.5% interest
• 9 month: 13.5% interest
• 12 months: 13.5% interest
• 18 months: 13.5% interest
• 24 months: 15% interest