IDFC First Bank may disrupt cards business with 9% interest Top Searches IDFC First Bank may disrupt cards business with 9% interest Mayur Shetty / TNN / Updated: Jan 15, 2021, 13:54 IST FacebookTwitterLinkedinEMail (File photo) MUMBAI: IDFC First Bank is set to shake up the credit card market by charging interest as low as 9% on revolving credit for those with a good track record. The private lender will also not charge interest on cash withdrawals during the 45-day free credit period. This comes at a time when the market leaders in the credit card business are charging interest on revolving balances at the rate of 1.99% to 3.5% per month, which is about 40% annually. IDFC First’s credit card will not have an annual charge and reward points too would not have any expiry.