Axis Bank has revised the rules of Minimum Amount Due, its calculation and incorporation in billing. The revisions on Axis Bank Credit Card(s) are effective from 10th November 2023.

Change in Minimum Amount Due (MAD)

The Minimum Amount Due (MAD) computation methodology for your credit card billing shall be revised as follows:

Existing MAD computation logic:

MAD = 5% of (Purchases/ Cash Withdrawals) + 100% of (Interest/Finance Charge, All Fees, loans, taxes)

Revised MAD computation logic (effective 10th Nov 2023):

MAD = 2% of (Purchases/ Cash Withdrawals) + 100% of (Interest/Finance Charge, All Fees, loans, taxes)

Also Know – Flipkart Axis Bank Credit Card Rewards Rate Revised

Terms and conditions for EMI/Loan Foreclosure:

In accordance with the existing terms and conditions, if a Loan facility/Loan is foreclosed by the cardholder during its tenure, the cardholder shall be liable to repay Total Outstanding due (including the principal outstanding, foreclosure charge and the interest on the loan for the actual number of days till closure) from the last billing date till the date of closure of Loan Facility/Loan, to the Bank.

Above changes shall be applicable across Instant Loan on Credit Card, Balance on EMI, Convert purchases into EMIs (Conversion of Transaction into EMI or Merchant EMI) across all Axis Bank Credit Cards.

All other charges with regards to loan foreclosure shall remain as per the existing terms and conditions https://www.axisbank.com/retail/cards/credit-card/useful-links/card-services

Please refer to https://www.axisbank.com/revtnc for details including the illustration for the above changes. Kindly read this in conjunction with the MITC: https://www.axisbank.com/docs/default-source/default-document-library/mitc-credit-cards.pdf. Please refer to the “Use of Credit Card” section and “Termination / Surrender / Revocation of Card Membership” for terms related to usage of your Axis Bank Credit Cards.

In case of any queries, please call 1-860-419-5555/1-860-500-5555/1800-103-5577.