While attaining a credit card is simple these days, and it’s clear that it affords people an easy way to buy essentials, bringing a convenient line of credit, it is equally important to know about charges, like interest rates.
Defaults on payments of bills incur interest which is charged on a daily basis (but card issuers will give you monthly figure
s) with 18% GST added to it, as per Government of India laws. Besides this, in case you buy items on EMIs, you may incur interest rates that you will have to pay on each instalment.
This can vary from brand to brand or the card issuer. At certain times, some credit cards can let you purchase items on no-cost EMIs, so you may not have to pay interest at all. You can also know online credit card interest rates and after that you can apply for that.