what is debit interest in axis credit card

Debit interest on an Axis Bank credit card refers to the interest charged on the outstanding balance if the total amount due is not paid within the due date or the interest-free period. Axis Bank charges an interest rate of up to 3.6% per month, which is equivalent to 52.86% per annum, depending on the credit card variant. This interest rate is applied to the total outstanding amount if not paid within the due date, and it is calculated using a formula based on the average daily balance method. Its important to note that if the total outstanding balance is cleared within the due date, no additional fee is charged. Different Axis Bank credit cards may have varying interest rates, so its essential to check the specific interest rate for the particular credit card variant being used.