This is for anyone who has looked at a card's fees page and found a list of charges with no sense of which ones they will actually pay. It settles what each fee is, when it applies, and what it costs on five real cards from the free tier to the super-premium tier, with the 18% GST that the bank's page leaves out.
Quick Answer: The fees you will actually pay are the annual fee (₹0 to ₹14,750 after GST, often waived on spend) and the forex markup (0% to 3.5%); the fees you should never pay are late payment (up to ₹1,534 with GST), cash advance (2.5% plus interest from day one) and interest at 23.88% to 55.55% a year.
The five cards used below
| Card | Tier | What it costs to hold |
|---|---|---|
| Amazon Pay ICICI | Free | ₹0 |
| HDFC Millennia | Entry | ₹1,000 + GST (₹1,180), waived at ₹1 lakh spend |
| SBI Card ELITE | Premium | ₹4,999 + GST (₹5,899), waived at ₹10 lakh spend |
| Axis Magnus | Premium | ₹12,500 + GST (₹14,750), waived at ₹25 lakh spend |
| HDFC Infinia Metal | Super-premium | ₹12,500 + GST (₹14,750), waived at ₹10 lakh spend |
Every number in the tables is the bank's published figure as recorded in our card data on 2026-09-17, before GST unless stated.
Joining and annual fees
The joining fee is charged once when the card is issued; the annual fee is charged every year from the second year, and on most cards the two are the same number. The waiver reverses the following year's fee if you spent the threshold in the previous twelve months.
| Card | Joining fee | Annual fee | With 18% GST | Waived at |
|---|---|---|---|---|
| Amazon Pay ICICI | ₹0 | ₹0 | ₹0 | Not needed |
| HDFC Millennia | ₹1,000 | ₹1,000 | ₹1,180 | ₹1 lakh |
| SBI Card ELITE | ₹4,999 | ₹4,999 | ₹5,899 | ₹10 lakh |
| Axis Magnus | ₹12,500 | ₹12,500 | ₹14,750 | ₹25 lakh |
| HDFC Infinia Metal | ₹12,500 | ₹12,500 | ₹14,750 | ₹10 lakh |
The fee is often returned in kind. Infinia pays 12,500 Reward Points on joining and every renewal, worth ₹12,500 on SmartBuy; Magnus gives a ₹12,500 voucher on joining; ELITE gives ₹5,000 of welcome vouchers. Judge the fee net of what comes back, and net of the waiver you will realistically hit. The zero annual fee guide lists every card with no fee and every waiver threshold.
Forex markup
Charged on every transaction in a foreign currency, as a percentage of the amount, plus GST on the markup.
| Card | Forex markup | Cost on ₹1 lakh abroad | With GST on the markup |
|---|---|---|---|
| Amazon Pay ICICI | 1.99% | ₹1,990 | ₹2,348 |
| HDFC Millennia | 3.5% | ₹3,500 | ₹4,130 |
| SBI Card ELITE | 1.99% | ₹1,990 | ₹2,348 |
| Axis Magnus | 2% | ₹2,000 | ₹2,360 |
| HDFC Infinia Metal | 2% | ₹2,000 | ₹2,360 |
Two things the table hides. First, the free Amazon Pay ICICI card has a lower forex markup than the ₹1,180 Millennia and matches the premium cards, so the markup does not track the fee. Second, dynamic currency conversion, where a foreign merchant offers to bill you in rupees, adds its own 1.75% to 3% on top of the bank's markup; HDFC lists a 1.75% DCC markup on Regalia Gold. Always pay in the local currency.
Cash advance
Withdrawing cash on a credit card triggers a fee and interest from the day of withdrawal, with no interest-free period.
| Card | Withdrawal fee | Interest from day one | Cost of ₹20,000 held for 30 days |
|---|---|---|---|
| Amazon Pay ICICI | 2.5%, minimum ₹500 | 3.75% a month | ₹500 fee + ₹750 interest = ₹1,250, plus GST |
| HDFC Millennia | 2.5%, minimum ₹500 | 3.75% a month | ₹1,250, plus GST |
| SBI Card ELITE | 2.5%, minimum ₹500 | 3.75% a month | ₹1,250, plus GST |
| Axis Magnus | Waived | 3% a month | ₹600 interest, plus GST |
| HDFC Infinia Metal | 2.5%, minimum ₹500 | 1.99% a month | ₹500 fee + ₹398 interest = ₹898, plus GST |
At ₹1,250 for a month's use of ₹20,000, a cash advance costs about 75% annualised. It is the most expensive money a card offers, and the interest also starts on your other purchases in some issuers' terms once a cash advance is outstanding.
Late payment
Charged when the minimum amount due is not paid by the due date, in slabs based on the total amount due.
| Amount due | Amazon Pay ICICI | HDFC Millennia | SBI Card ELITE | Axis Magnus | HDFC Infinia Metal |
|---|---|---|---|---|---|
| Up to ₹100 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| ₹101 to ₹500 | ₹0 | ₹0 | ₹0 | ₹100 | ₹100 |
| ₹501 to ₹1,000 | ₹400 | ₹400 | ₹400 | ₹500 | ₹500 |
| ₹1,001 to ₹5,000 | ₹750 | ₹750 | ₹750 | ₹600 | ₹600 |
| ₹5,001 to ₹10,000 | ₹750 | ₹750 | ₹750 | ₹750 | ₹750 |
| ₹10,001 to ₹25,000 | ₹1,100 | ₹1,100 | ₹950 | ₹900 | ₹900 |
| ₹25,001 to ₹50,000 | ₹1,100 | ₹1,100 | ₹1,100 | ₹1,100 | ₹1,100 |
| Above ₹50,000 | ₹1,300 | ₹1,300 | ₹1,300 | ₹1,300 | ₹1,300 |
All plus 18% GST, so the top slab is ₹1,534. SBI Card and Axis add ₹100 if the minimum due is missed in two consecutive cycles. A late payment also cancels the interest-free period on the whole statement and is reported to the credit bureaus; the fee is the smaller part of the cost. Set autopay for at least the minimum due.
Over-limit
Charged when your outstanding balance crosses the credit limit, usually because of interest or fees posting after a large purchase.
| Card | Over-limit fee |
|---|---|
| Amazon Pay ICICI | 2.5% of the over-limit amount, minimum ₹600 |
| HDFC Millennia | 2.5% of the over-limit amount, minimum ₹600 |
| SBI Card ELITE | 2.5% of the over-limit amount, minimum ₹600 |
| Axis Magnus | 2% of the over-limit amount, minimum ₹500 |
| HDFC Infinia Metal | Not applicable |
Plus GST. RBI rules require the bank to have your consent before letting a transaction take you over the limit, so the fee should only arise on balances you agreed to exceed. Infinia is one of the few cards that charges nothing.
Category surcharges: rent, fuel, utilities, wallets
Since 2024 most issuers charge a fee on spend categories that were once free to route through a card.
| Card | Rent | Fuel | Utilities | Wallet loads and others |
|---|---|---|---|---|
| Amazon Pay ICICI | Rent excluded from rewards at some merchants; ICICI's MITC applies category fees on wallet loads, gaming and transport above thresholds | Standard surcharge, waiver as per card | Earns 1% via Amazon Pay | Per ICICI MITC |
| HDFC Millennia | 1% via third-party apps, capped at ₹3,000 per transaction | 1% above ₹15,000 a month, capped at ₹3,000 | 1% above ₹50,000 a month, capped at ₹3,000 | Not rewarded |
| SBI Card ELITE | Excluded from milestone and waiver calculations | Surcharge waiver on ₹500 to ₹4,000 transactions | Not rewarded | Not rewarded |
| Axis Magnus | 1% from ₹500, no cap | 1% surcharge waived on ₹400 to ₹4,000, up to ₹400 a month | 1% above thresholds | 1% on wallet loads, education and gaming above thresholds |
| HDFC Infinia Metal | 1% via third-party apps, capped at ₹3,000 | 1% above ₹15,000 a month, capped at ₹3,000 | 1% above ₹50,000 a month, capped at ₹3,000 | Earns full points on utilities, unlike Millennia |
Plus GST on the fee. For a household paying ₹40,000 of rent a month through CRED on Millennia, that is ₹400 a month, or ₹4,800 a year plus GST, for a category that earns no rewards. Pay rent by bank transfer.
Interest: the fee behind every other fee
Interest is charged only when you do not pay the full statement balance by the due date, or on cash advances from day one. Once you carry a balance, new purchases lose their interest-free period too.
| Card | Monthly rate | Annualised | Interest-free period on purchases |
|---|---|---|---|
| Amazon Pay ICICI | 3.75% | 45% | Up to 45 to 48 days when paid in full |
| HDFC Millennia | 3.75% | 55.55% (HDFC's stated annualised figure) | Up to 50 days |
| SBI Card ELITE | 3.75% | 45% | Up to 50 days |
| Axis Magnus | 3% | 42.58% | Up to 50 days |
| HDFC Infinia Metal | 1.99% | 23.88% | Up to 50 days |
Plus GST on the interest. Carrying ₹1 lakh for a year on Millennia costs about ₹55,000 in interest plus GST; on Infinia, about ₹24,000. No reward rate comes close to covering that, which is why the first rule of every card is to pay the full balance every month.
GST on all of it
Every fee above attracts 18% GST: annual fees, late fees, cash advance fees, over-limit fees, the forex markup, category surcharges and interest. The only things that do not are the transaction amounts themselves. Banks quote pre-tax figures, so the working rule is to multiply any fee you see on a product page by 1.18.
Fees worth paying, fees to avoid
Worth paying: an annual fee you will recover in rewards or waive on spend, and a forex markup of 2% or less on a card you use abroad.
Avoid by habit: late payment (autopay the minimum), interest (pay in full), cash advances (use a debit card), category surcharges (pay rent by transfer, route fuel and utilities to a card that waives or rewards them), over-limit (keep utilisation under 30%).
Avoid by choice: a 3.5% forex markup on a card you carry abroad, and a fee-paying card whose waiver threshold you will not reach. The fee justification guide works through the second one.
Common questions
GST on fees? 18% on all of them; multiply the product-page figure by 1.18.
Late fee? Slabs from ₹0 to ₹1,300 by amount due, plus GST, plus a bureau mark.
Cash advance? 2.5% fee with a ₹500 minimum plus interest from day one; about ₹1,250 plus GST on ₹20,000 for a month.
Forex? 3.5% on entry cards, 2% on premium, 1.99% on ELITE and Amazon Pay ICICI, 0% on Scapia and IDFC FIRST.
Rent and fuel fees? 1% above thresholds, usually capped at ₹3,000 per transaction, plus GST, since 2024.
Next steps
- Zero annual fee credit cards in India
- Is the annual fee worth it? A worked guide
- Best credit cards for international travel
- All HDFC Bank cards
Last verified: 2026-09-17 against the fees and charges pages and MITC for https://www.icicibank.com/personal-banking/cards/credit-card/amazon-pay-credit-card, https://www.hdfc.bank.in/credit-cards/millennia-credit-card, https://www.sbicard.com/en/personal/credit-cards/lifestyle/sbi-card-elite.page (as of 2026-02-24), https://www.axis.bank.in/cards/credit-card/axis-bank-magnus-credit-card and https://www.hdfc.bank.in/credit-cards/infinia-credit-card.