YES Bank Credit Card Interest Rates

1. If you have not paid your total outstanding amount
2. If you have paid only a portion of your total outstanding amount
3. If you have paid only the minimum amount due
4. If you have made cash withdrawals through your credit card
5. If you use your credit card internationally, then additional charges or foreign currency charges will be levied.

However, if you pay off your total outstanding amount before the due date (as specified by the bank), an interest rate will not be charged. Note that the interest-free period will not be applicable on any new purchases if you do not pay the outstanding amount in full within the due date.

How are Credit Card Interest Rates Calculated by YES Bank?

The interest rate of the credit cards by YES Bank is calculated through the Annual Percentage Rate of APR. It is the total rate of interest applicable on your credit card per year.

Axis Bank charges a monthly rate of interest on the due amount daily. You can calculate the Daily Periodic Rate by dividing the Annual Percentage Rate by the total number of days in the year.

For example, if the monthly interest rate charged on your YES Bank credit card is 3%, the formula used to calculate the interest rate you land up paying on an average daily balance method is as follows:

Interest Rate = [(Total Outstanding Amount x interest rate per month x 12 months) X number of days] / 365 days.

For example, if the total outstanding amount on your card is Rs.5,000 and you paid Rs.2,500 as a partial payment, the remaining Rs.2,500 will be carried forward to the next month's statement and will attract the applicable rate of interest.

Interest Rate Charged on Yes Bank Credit Cards

The interest rate charged on various YES Bank credit cards are given in the table below:

Note:

1. * These cards have been discontinued for new customers and for existing customers new cards will be issued on expiry of the existing card.
2. For YES Bank ACE Credit Cards issued against Fixed Deposit, the interest rate charged on Revolving Credit, Cash Advances and Overdue Amount is 2.49% (29.88% per annum).

YES Bank Credit Card Interest-free Period

YES Bank offers an interest-free period of up to 50 days, however, it also depends on the date of the transaction. The interest-free credit period will only be applicable if you have paid your total outstanding amount in full for the previous month.

On paying the total outstanding balance within the interest-free period, the bank will not charge you anything additional.

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