Now Reading: 46 paise shortfall on HDFC credit card leads to Rs 1,200 late fee
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46 paise shortfall on HDFC credit card leads to Rs 1,200 late fee
A credit-card customer has claimed he was charged more than Rs 1,200 in late-payment fees by HDFC Bank after falling short of his Rs 10,649.46 bill by just 46 paise. Dr Samir…
A credit-card customer has claimed he was charged more than Rs 1,200 in late-payment fees by HDFC Bank after falling short of his Rs 10,649.46 bill by just 46 paise. Dr Samir Kagalkar posted on X that he paid Rs 10,649, leaving Rs 0.46 unpaid. The bank later told Mint that the payment was received after the grace period had lapsed, and that charges were applied as per terms. HDFC said it reversed the charges as a one-time goodwill gesture and is in touch with the customer.
Indian Opinion Analysis
Indiatoday.in led with the customer's complaint and the RBI rounding rule, framing the charge as disproportionate. Livemint.com added HDFC Bank's response that payment was late and had been reversed, providing a more complete picture. Neither source noted that the rounding rule applies to banks' own calculations, not necessarily to payment shortfalls by customers. The measured read: a late payment triggered standard charges, which were reversed, the rounding rule is not a direct shield for partial payments. Watch for whether the RBI clarifies if the three-day grace rule applies here.
Coverage: 2 sources, 2 neutral
Sources (2): indiatoday.in (neutral report), livemint.com (neutral report)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
