I have a HDFC gold card since the past few months. I am a person who makes full payment and on time. However there seems to be a mental block in the HDFC bank when it comes to the ’pay by due date’ which actually means that the payment is made by the customer by that date in order to avoid excess charge, however the bank is of the view that the money should be credited to their account by that date. It means that if you deposit a full amount cheque on 11/7/6 with a pay by due date of 11/7/6, that cheque money would come to the bank’s account on either 12th or 13th or 15th (if you happen to deposit the same on a Saturday) making you in the eyes of the bank a defaulter and making you liable to pay the finance and late fees charges.
This makes the bank unique as it is the only bank which follows the ’pay by due date ’ principle in this way.