In case a user does not pay his total bill amount by the due date, he will be charged 3% per month interest on his total utilized amount for all the days the amount remains unpaid. In case a user does not even make a minimum payment, he will be charged 3% on the bill amount and Rs. 150 as a charge for nonpayment of the bill.
https://static.goniyo.com/legal/Niyo%20Global%20SBM%20CC_T&C-QR.pdf Eg: Total bill = 100 Rs. User pays 100 Rs as bill by due date. He will not be charged any interest.
Total bill = 100 Rs. User does not pay any amount by due date User will be charged 3% per month on the the total 100 rs, until he pays it off. And he will also be charged Rs. 150 for late payment. This interest will be added to the bill of the next month.
Total bill = 100 Rs. If the user pays Minimum payment of Rs. 5 (minimum amount 5%), The user will be charged 3% per month on the total amount he utilized, until he pays the amount off. This interest will be charged on the pending amount and the days the amount remains unpaid. NOTE: The interest-free credit period is not valid, if any balance of the previous month's bill is outstanding or in the event of making part/minimum outstanding payment.