Received this mail from HDFC. Seems like they have slightly changed their MAD calculation for ccs.
"Dear Valued Cardholder,
Greetings from HDFC Bank!
We are making an important update to the Minimum Amount Due (MAD) calculation on your xxxx HDFC Bank Credit Card, effective April 2025.
Important Details:
MAD = Total GST + EMI amount + 100% of Fees/Charges + 5% of (Finance Charge* + Retail Spends + Cash Advance) + Overlimit Amount (if any).
If 5% of (Finance Charge + Retail Spends + Cash Advance) is less than the Finance Charge, then:
MAD = Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + 5% of (Retail Spends + Cash Advance) + Overlimit Amount (if any).
(*Finance Charge applies only if the outstanding balance on your card is not paid in full.)"
They have changed the mitc as well.
"Dear Valued Cardholder,
Greetings from HDFC Bank!
We are making an important update to the Minimum Amount Due (MAD) calculation on your xxxx HDFC Bank Credit Card, effective April 2025.
Important Details:
MAD = Total GST + EMI amount + 100% of Fees/Charges + 5% of (Finance Charge* + Retail Spends + Cash Advance) + Overlimit Amount (if any).
If 5% of (Finance Charge + Retail Spends + Cash Advance) is less than the Finance Charge, then:
MAD = Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + 5% of (Retail Spends + Cash Advance) + Overlimit Amount (if any).
(*Finance Charge applies only if the outstanding balance on your card is not paid in full.)"
They have changed the mitc as well.
