[Resolved]  ICICI Bank — Hefty Interest charges on Credit Card

I was charged a hefty interest amount of INR 6, 043.94 plus IGST of INR 1, 087.91 although I paid INR 1, 08, 000 (on the outstanding amount of INR1, 12, 496.98 before its due date) on my credit card statement dated January 23, 2022. I placed a complaint with the bank and the bank gave a standardized reply

If the Minimum Amount Due (MAD) or a payment less than Total Amount Due (TAD) or no payment is made, interest charges are applicable.

Rate of interest of 3.4% per month is charged based on the following criteria:

ﾷ On the transactions in previous statement from the respective transaction date till the statement date
ﾷ On the total amount outstanding from the statement date till the part payment date
ﾷ On the remaining amount outstanding balance till the next statement date
ﾷ On the fresh purchases done thereafter, till the next statement date.

I asked for a breakup of the interest charges. It is been more than 10 days and I am waiting

I am wondering why such a huge amount? Kindly look into this matter and give me a reasonable resolution, at your earliest