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Minimum amount due: how fourteen card issuers calculate it

Updated 31 Oct 2026 · by SwipeWise editorial team · how we write

The minimum amount due (MAD, or minimum payment due at HSBC) is the smallest payment that keeps a card account from being charged a late fee and reported as missed. It is not the cost of using the card: interest keeps running on everything you do not pay. Issuers calculate it differently, and the share of your balance it asks for ranges from 1% to 5%. This page sets out the formula in each of fourteen issuers’ Most Important Terms and Conditions (MITC), read on 31 October 2026. The interest and minimum due guide explains how interest builds on an unpaid balance, with worked examples for HDFC Bank and SBI Card; this page is the cross-issuer comparison.

The formulas

Every formula has the same two parts. The first is an amount that is always due in full: EMI instalments, fees and charges, taxes, interest (finance charges) and any over-limit amount. The second is a percentage of the balance you spent, which is where the issuers differ.

IssuerPercentage of the balanceAlways due in fullOther terms
HDFC Bank5% of (finance charge + retail spends + cash advance)GST, EMI, fees and charges, over-limit amountIf that 5% is below the finance charge, 100% of the finance charge plus 5% of retail and cash balances instead. Rule marked “WEF June’25”
American Express India5% of the principal, minimum ₹100All card fees, charges, taxes and interest, plus any instalmentsThe MITC’s illustration says paying only the minimum on a ₹5,000 purchase at 3.5% a month takes up to 44 months
RBL Bank5% of (retail spends, cash advances and interest)100% of fees and charges (the 5% plus fees part is at least ₹200), GST, EMI, any unpaid earlier MAD and over-limit amountIf the MAD would exceed the total due it equals the total due
ICICI Bank (Amazon Pay card)5% of the outstanding amountinstalments, over-limit amount, fees and GST“Or such other amount as may be determined by ICICI Bank”; any fee billed over the limit counts twice
SBI Card2% of the remaining balance outstandingGST, EMI, fees and charges, finance charges, over-limit amountSBI’s own illustration treats ₹200 as the minimum payment
Axis Bank2% of the remaining balance outstandinginstalments, fees, interest, taxes, over-limit amountSubject to a minimum of ₹100; if the total due is under ₹100 the MAD is the total due
IDFC FIRST2% of the principal balance (purchases, cash, balance transfers)EMI, interest, fees and other charges, taxes, over-limit amountWas 5% before statements generated from 1 September 2024; total due if under ₹100
IndusInd2% of retail spends, cash advances and remaining balanceEMI, GST, fees and charges, finance charges, over-limit amountThe MITC adds “or such other amount as may be determined by” the bank
Standard CharteredThe higher of 5% of the statement balance, or instalments + interest + fees + over-limit + 1% of principal, or ₹250included in the second limbIf the statement balance is under ₹250 the whole balance is due
Federal Bank2% of the outstanding principal100% of interest, fees and GSTFrom the MITC’s worked example (₹1,792.27 = ₹1,662.27 + ₹130)
YES Bank2% of the retail and cash outstanding100% of finance charges and the GST on themFrom the MITC’s worked example
Kotak (League Platinum)1% of all purchases and cash advances100% of EMI, finance charges, fees and charges, taxMinimum ₹100, otherwise up to the total due, whichever is lower
HSBC India1% of the billed statement balance (excluding EMI balance, fees and interest)100% of interest, fees, taxes and EMIPlus the higher of any past-due amount and the over-limit amount
AU Small Finance5% of principal outstanding if you paid the previous statement’s total due on time; 2% if you did not100% of fees, interest, instalments, annual fee and GSTRounded up to the next ₹10; unpaid earlier MAD is added

What the percentage means on a ₹10,000 and a ₹40,000 balance

The table below applies only the percentage part to a purchase-only balance, with no interest, fees, EMI or GST outstanding. Those items are added at 100% on top, so a real statement asks for more.

IssuerOn ₹10,000 of purchasesOn ₹40,000 of purchases
HDFC Bank₹500₹2,000
ICICI Bank (Amazon Pay card)₹500₹2,000
American Express India₹500₹2,000
RBL Bank₹500₹2,000
Standard Chartered₹500₹2,000
AU Small Finance (previous bill paid on time)₹500₹2,000
SBI Card₹200₹800
Axis Bank₹200₹800
IDFC FIRST₹200₹800
IndusInd₹200₹800
Federal Bank₹200₹800
YES Bank₹200₹800
AU Small Finance (previous bill not paid on time)₹200₹800
Kotak (League Platinum)₹100₹400
HSBC India₹100₹400

Three things follow from the numbers. A 5% issuer asks for five times what a 1% issuer asks on the same balance, so the first month’s minimum payment can differ by ₹400 on a ₹10,000 bill and by ₹1,600 on a ₹40,000 one. AU’s two-tier rule is the opposite of what most people expect: a customer who paid the previous bill on time is asked for 5%, and one who did not is asked for 2%, so the lower figure goes to the account that is already behind. And a small minimum is not a cheap one. SBI’s own illustration says that on a ₹10,000 transaction, paying only the minimum every month (with a ₹200 floor) takes up to 52 months to clear the balance, and interest runs for all of that time. At 3.75% a month the interest on ₹10,000 in the first month alone is about ₹375, almost twice the ₹200 minimum, which is why a minimum of 2% barely reduces the balance once interest is added back.

Rules that change the answer

  • The minimum clears the late fee, nothing else. Every MITC we read says the late payment charge is triggered by missing the MAD, and several add that paying less than the MAD also triggers it. See the late fee comparison for what that costs.
  • Interest is unaffected. All fourteen issuers charge finance charges on the revolving balance if the total due is not paid, from the transaction date at the issuers that say when. HSBC’s MITC adds that the interest-free credit period is suspended on new spends while any balance from the previous bill is outstanding.
  • Unpaid minimums accumulate. Axis, Standard Chartered and AU say an unpaid MAD from an earlier statement is added to the current one, and Standard Chartered adds that missing it for 150 days classifies the account as a default reported to credit bureaus, which is a much bigger cost than the fee.
  • The formula can change. IDFC FIRST cut its percentage from 5% to 2% for statements generated from 1 September 2024 and HDFC’s rule is marked as effective from June 2025, so a table older than your statement may be wrong.
  • Some products have no minimum. IDFC FIRST’s MITC says its SWYP card’s total due equals its minimum due: you pay in full or convert to EMI.

How to use this

  • Pay the total due whenever you can. It is the only payment that avoids both the late fee and interest.
  • If you must pay less, pay as much above the minimum as you can and pay before the due date, since the late fee depends on the due date and not on how close to the minimum you came.
  • Check your own card’s statement for the MAD it actually asks, and your issuer’s MITC for the current formula, before relying on the figures here. The documents we read cover specific card families in some cases (Kotak’s is the League Platinum statement; IndusInd’s covers its premium cards; Standard Chartered’s is the Smart card MITC).

ICICI’s row comes from the MITC for its Amazon Pay card rather than the general ICICI document, which could not be read. This is general information, not financial advice.

Sources

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