Any credit card payment offer

Any credit card payment offer

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Any credit card payment offer

12 Comments  |  
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rogerthat wrote:

yes pay it timely

I think it’s been postponed now till May 31st.

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deb3l wrote:

I think it’s been postponed now till May 31st.

I paid 50% can i pay 50% later on.

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Superbdeal wrote:

I paid 50% can i pay 50% later on.

High possibilities! The guidelines from your bank shall ensure this. Keep updating from bank’s site.

Edit: No way bro! Pay them ALL by any means. They are not gonna listen later on. Sorry for the confusion.

@Superbdeal

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deb3l wrote:

I think it’s been postponed now till May 31st.

Any reliable source that credit card dues are also included?
Checked RBI’s COVID-19 regulatary package but no reference to CC dues anywhere
https://www.rbi.org.in/Scripts/NotificationUser...
But some news articles did mention that the installments include CC dues too
https://www.moneycontrol.com/news/business/econ...

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getready wrote:

Any reliable source that credit card dues are also included?
Checked RBI’s COVID-19 regulatary package but no reference to CC dues anywhere
https://www.rbi.org.in/Scripts/NotificationUser...
But some news articles did mention that the installments include CC dues too
https://www.moneycontrol.com/news/business/econ...

I found the same only. And it has got a clear mention about CC/ OD. Personal credits are missing though. Now its upto the respective banks to decide on the criteria and further announcement on their pages. Personal smses/ mails shall be the last notification, I think.

Any learned Dimer pls throw some light on these?

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deb3l wrote:

I found the same only. And it has got a clear mention about CC/ OD. Personal credits are missing though. Now its upto the respective banks to decide on the criteria and further announcement on their pages. Personal smses/ mails shall be the last notification, I think.

Any learned Dimer pls throw some light on these?

just my opinion… rbi has told to charge interest for the period. so i think they will just remove the minimum due amount and will charge upto 3.5% on your dues.

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karthi4052752 wrote:

just my opinion… rbi has told to charge interest for the period. so i think they will just remove the minimum due amount and will charge upto 3.5% on your dues.

Possible! Let’s see what their boards approve..

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deb3l wrote:

I found the same only. And it has got a clear mention about CC/ OD. Personal credits are missing though. Now its upto the respective banks to decide on the criteria and further announcement on their pages. Personal smses/ mails shall be the last notification, I think.

Any learned Dimer pls throw some light on these?

Got this from cred sometime back

// The Reserve Bank of India announced measures to improve the economy in response to the COVID-19 crisis. All financial institutions are permitted to allow a moratorium of three months on payments of instalments of all term loans and credit card dues arising between 1st March 2020 and 31st May 2020. The RBI has clarified the same in this circular dated 27th March 2020.

Please note that the moratorium does not apply to interest charges. If you have Rs 1,00,000 due as on 3rd March 2020 and you take advantage of the moratorium till 31st May 2020, the dues payable on 3rd June 2020 could be as high as Rs 1,15,000 (Rs 1,00,000 (due amount) + Rs 15,000 (interest amount and other charges)).

CRED recommends that you continue paying your total due amount (or as much as possible) within the due date to avoid interest charges @ 36 – 42% compounding annual interest rate, if you can. //

https://cdn0.desidime.com/attachments/photos/610234/original/Screenshot_20200329-143705.jpg?1585472888

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the RBI talks of Term loan. all personal advances like Housing loan, car loan and personal loan are types of term loan.
Normal credit card dues are not term loan and is in form of rolling credit. there is ambiguity about CC EMI transactions, whether they are term loans or rolling credits.

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