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Airtel Axis Bank Credit Card Interest Rates

Getting a credit card means having the highest form of convenience when it comes to making cashless payments. Moreover, you can always pay back your outstanding amount on the credit card via easy EMIs. However, it is important to know what are the interest rate charges on your credit card. The interest rate on your Airtel Axis Bank Credit Card starts from as low as 3.6% monthly!

Interest Rates on Airtel Axis Bank Credit Cards

Enjoy low-interest rates on the Airtel Axis Bank Credit Card.

  • Interest rate as low as 3.6%
    Charged on monthly overdue on extended credit & cash advances

  • No hidden charges
    The interest is only charged on cash advances & outstanding credit

  • Competitive APR
    Annual Percentage Rate offered lower than most credit cards in the market

Apply for an Airtel Axis Bank Credit Card

Applying for the Airtel Axis Bank Credit Card is easy

  • Get Airtel Thanks
    Download the app and go to Shop section

  • Tap Airtel Finance
    Click on the credit card banner

  • Select Apply Now
    Now fill up the complete application form

  • Complete digital KYC
    The card will be delivered to you very soon

Features of Airtel Axis Bank Credit Card

Big savings and cashback offers, now with Credit Card

  • Higher credit limit
    Credit limit up to ₹5 lacs

  • Huge annual savings
    Save up to ₹16,000

  • Low joining fees
    Just ₹500 as joining fees

  • Low annual fees
    Just ₹500 as annual fees

  • 100% digital process
    Apply on the Thanks App

  • Relaxed eligibility
    18-70 years old can apply

FAQs on Credit Card Interest Rate

1 .How is the Airtel Axis Bank Credit Card interest calculated?

The following formula is applied to calculate the Airtel Axis Bank Credit Card interest:

(Total Outstanding amount x Interest rate x 12 months x number of days / 365 days) = Interest amount

2. What is the average Airtel Axis Bank Credit Card interest rate?

The average Airtel Axis Bank Credit Card interest rate ranges between 3.4% to 3.6% per month.

3. How can I find out the interest rate on my Airtel Axis Bank Credit Card?

You must get in touch with the Airtel Axis Bank Credit Card representative to find out the interest rate on your credit card.

4. Which factors affect my Airtel Axis Bank Credit Card interest rate?

Your credit score, payment history, your relationship with the bank, existing due amount, and other factors can affect your Airtel Axis Bank Credit Card interest rate.

5. How can I lower my Airtel Axis Bank Credit Card interest rate?

You can negotiate a lower interest rate on your credit card by keeping a good credit history and credit score.

6. What is a promotional interest rate?

A promotional interest rate is a temporary interest rate that is typically lower than the regular or standard rate. Financial institutions such as banks and credit card companies often offer promotional interest rates to attract new customers or to encourage existing customers to utilize a particular product or service.

7. How long do promotional interest rates last?

Promotional interest rates can vary widely in their duration, depending on the specific offer and the financial institution providing it. The promotional period might last anywhere from a few months to several years. Common durations include:
  • 6-12 months
  • 3 months
  • 18-24 months

8. What happens if I miss the Airtel Axis Bank Credit Card payment?

If you miss a credit card payment with Axis Bank or any other financial institution, several things can happen, and the consequences can vary depending on the specific terms and conditions of your credit card agreement. A late fee or a penalty fee will be charged.

9. How does my credit score affect my Airtel Axis Bank Credit Card interest rate?

Your credit score can affect the interest rate charged by the bank on your Airtel Axis Bank Credit Card. A good score can help you negotiate a lower interest rate.

10. What happens if I only make the minimum payment on my Airtel Axis Bank Credit Card?

Making only the minimum payment on your Airtel Axis Bank Credit Card (or any other credit card) means you're paying the smallest amount required to keep the account in good standing. It has the following consequences:
  • Interest accumulates
  • Longer repayment period
  • Impact on credit utilization ratio

11. What is the difference between APR and interest rate on an Airtel Axis Bank Credit Card?

The Annual Percentage Rate (APR) and the interest rate are terms used to describe the cost of borrowing, and while they are related, they represent different things. The interest rate typically refers to the rate charged on purchases, balance transfers, or cash advances. It's the basic rate at which interest accrues on the unpaid balance. Whereas the APR represents the total cost of borrowing on an annual basis, including the interest rate and any additional fees or costs associated with the credit card. It doesn't include any other costs or fees associated with the credit card.

12. Will the rate of interest for the Airtel Axis Bank Credit Cards change frequently?

You need to get in touch with an Airtel Axis Bank Credit Card representative to get more clarity on the subject.

13. How does the lender determine my interest rate for an Airtel Axis Bank Credit Card?

The bank’s policy and borrower’s credit history will determine the interest rate for an Airtel Axis Bank Credit Card.

14. When should I pay my Airtel Axis Bank Credit Card bill to avoid interest?

You should pay the bill before or on the due date to avoid interest on your Airtel Axis Bank Credit Card.

15. Can my Airtel Axis Bank Credit Card company change my interest rate?

Get in touch with the Axis Bank representative to get more clarity on this topic.

Airtel Axis Bank Interest Rate Static Content

Axis Bank, one of India's leading private sector banks, offers a variety of credit cards to its customers, each with different interest rates and features. The interest rates on Axis Bank Credit Cards typically range between 15% to 47% per annum, depending on the card type and the customer's credit profile. Now, Axis Bank has partnered with Airtel to launch a credit card named Airtel Axis Bank Credit Card. The interest rates on this card are comparatively lower.

How to get the lowest interest rates on an Airtel Axis Bank Credit Card?

Getting the lowest interest rate on an Airtel Axis Bank Credit Card requires a combination of strategic planning and responsible financial behavior. Here's a guide to help:

  • Credit Score Maintenance: Maintain a high credit score by paying bills on time, keeping debt levels low, and avoiding unnecessary inquiries.
  • Select the Right Card: Axis Bank offers different cards with varying interest rates. Choose a card that fits your needs and offers competitive rates.
  • Negotiate with the Bank: If you have a good relationship with the bank and a clean credit history, you may negotiate for a lower interest rate.
  • Utilize Promotional Offers: Look for promotional offers where the bank may provide lower introductory interest rates for a certain period.
  • Avoid Cash Advances: Cash advances often come with higher interest rates. Avoid them to keep the overall interest rate low.
  • Make Timely Payments: Paying the full balance each month avoids interest charges altogether.
  • Review Terms and Conditions: Regularly check the bank's terms and updates to stay informed about interest rate changes.

Understanding these factors can help you anticipate potential changes in interest rates and make informed decisions regarding your Axis Bank credit card. Make sure to consult the bank's customer service or the official website for the most accurate and up-to-date information.

Understanding Reducing Interest Rate for Airtel Axis Bank Credit Card

The reducing interest rate, also known as a diminishing or declining balance interest rate, is a method where the interest is calculated on the outstanding balance of the loan or credit, which decreases over time with each payment. Here's how it applies to Airtel Axis Bank Credit Cards:

  • Calculation Method: The reducing interest rate is calculated on the remaining outstanding balance, not the initial amount borrowed. If you pay off a part of your credit card balance, the interest for the next cycle will be charged on the reduced amount.
  • Impact on Interest Payments: This method may result in lower total interest payments over time, as interest is charged on a diminishing principal amount.
  • Influence on Repayment Strategy: By making more substantial payments towards the outstanding balance, cardholders can further reduce the interest charges.
  • Comparison with Other Rates: It's essential to understand the difference between reducing interest rates and other methods like flat or fixed interest rates, as reducing interest rates can often lead to cost savings in the long run.
  • Bank's Policy: Axis Bank may offer reduced interest rate options on certain credit cards or under specific schemes. Carefully reviewing the terms and conditions or consulting with the bank's customer service can provide clarity on the application of reducing interest rates for your specific card.

Understanding the reducing interest rate concept can empower Airtel Axis Bank Credit Cardholders to manage their credit more efficiently and potentially save on interest expenses. By aligning payment strategies with this method, customers can take advantage of the benefits offered by reducing interest rates.