The interest rate on Axis Bank credit cards is typically charged when cardholders carry forward a balance from the previous billing cycle, known as the "revolving credit" facility. If the total outstanding amount isn't paid by the due date, interest accrues on the unpaid balance. Axis Bank specifies a monthly interest rate for such outstanding amounts, which is applied until the balance is settled. Interest is not levied on new purchases if the statement balance is paid in full by the due date. However, it's crucial to review the specific terms and conditions of the card as they might vary based on the card type and agreement.