Loan on HDFC Bank Credit Card

HDFC offers personal loans on credit cards according to the credit limit of your card. The bank has two products to offer, i.e. Insta Loan and Jumbo Loan under this segment. The interest rate starts from 1.25% per month, depending on the tenure which ranges from 12 to 60 months. 

Loan on HDFC Bank Credit Card Details

Loan amountWithin the available credit card limit for Insta Loan and over & above the available credit card limit for Jumbo Loan. 
Rate of interest15% to 23% p.a.
Repayment tenure12 to 60 months
Processing feeUp to Rs. 999 + GST
DocumentationNot required
Lowest EMI Per LakhRs. 2,379
Foreclosure charges3% of the balance principal + GST
TAT for disbursal1 second to 7 working days 
TypesInsta Loan and Jumbo Loan

Types of HDFC Bank Credit Card Loans

HDFC Credit Card Loan has four options as mentioned below:

HDFC Insta Loan

You can avail this loan for instant funds requirement. This pre-approved limit will be equal to or lesser than your Credit Card limit. EMI of the loan will be included in the first card statement generated after availing the loan and will be shown as a part of the minimum amount due appearing in the monthly billing statement. 

  • The quantum of the loan available is either equal to or below the HDFC Bank credit card limit available to you.
  • The rate of interest charged on this loan will be starting from 1.25% p.m. or 15% p.a. and can go up to 23% p.a.
  • The repayment period ranges from 12 months to 60 months and you can choose the tenure as per your EMI affordability.
  • Insta loan facility is available to select HDFC Bank credit card holders only.

HDFC Jumbo Loan

The loan amount will be over and above the Credit Card limit. In this case, the Credit Card limit will not be blocked. A separate card number will be given for the jumbo account and you will receive a separate statement for the loan account. The EMI will be billed in the loan account statement in the immediate next billing cycle. The billing date and payment due date will be the same as the credit card account. The EMI will be debited to the savings account of the cardholder on the due date.

  • You can get a loan quantum over and above the HDFC Bank credit card limit available to you.
  • HDFC jumbo loan interest rate ranges from 15% to 23% p.a.
  • The repayment tenure will be between 12 months to 60 months and you can choose the tenure that suits you the best.
  • Only select HDFC credit card holders are eligible for HDFC Insta Jumbo loan facility.
  • An Auto Pay will be activated for Insta jumbo loan within 7 days of loan booking.

HDFC Balance Transfer of EMI

Pay the outstanding balance on Non-HDFC Bank Credit Card or any loan by converting it to EMI with HDFC Bank Credit Card

  • The loan amount will be blocked against your Credit Card limit.
  • The repayment tenure ranges from 12 months to 48 months.
  • The interest charged will be 1.10% p.m.

HDFC Smart EMI

Convert every purchase on HDFC Credit Card except jewellery into EMI. 

  • The repayment tenure ranges from 9 months to 36 months.
  • The rate of interest charged will be 1.50% p.m.

Loan on HDFC Bank Credit Card - Features

  • All the loans against HDFC credit cards will be approved within seconds as there is no documentation involved.
  • The loan amount will be credited to the customer’s HDFC Savings Bank Account.
  • If you do not have an HDFC Savings Bank Account, the amount will be disbursed via Demand Draft in the applicant’s name as per HDFC Credit Card Records.
  • HDFC Bank Savings Account holders can avail of multiple loans on their credit cards.
  • For Non-HDFC Bank Savings Account holders, only 2 loans are available at any point of time.
  • The credit limit on your credit card will be blocked to an extent of the loan amount.
  • The bank will withdraw the cash withdrawal facility for your card and will restore it only after clearing the borrowed loan amount in full.
  • The loan is based on the customer’s spending, transaction pattern, and payment of earlier credit card dues.
  • The EMI for the loan with GST will be billed in the monthly statement generated after the loan is disbursed.
  • The EMI is a part of the Minimum Amount Due (MAD) displaying in your monthly credit card statement.
  • The interest rate of 1.25% p.m. and other applicable charges are applicable on the balance outstanding.
  • Flexible repayment options ranging from 12 months to 60 months are available.
  • Only select cardholders will be provided with this loan facility.

Why Apply for Loan on HDFC Bank Credit Card?

An HDFC Bank Credit Cardholder who avails any one of the above-mentioned loans against the Credit Card can enjoy the following benefits:

  • Saving on higher interest payments made to other banks.
  • Flexible tenure of 12 months to up to 60 months, depending upon the facility availed.
  • Easy and quick processing.
  • No need for documentation, collateral, or guarantor.
  • You can convert any big purchase into EMI and avail the facility of flexible repayment tenure.
  • Affordable processing fee and competitive interest rate.

HDFC Bank Credit Card Loan Customer Care

You can contact HDFC Bank customer care for any queries or complaints regarding credit card loan through any of the following ways:

  • Customers from Delhi & NCR, Mumbai, Pune, Ahmedabad, Bangalore, Chennai, Hyderabad, and Kolkata can dial 61606161.
  • Customers from Chandigarh, Indore, Cochin, Jaipur, and Lucknow can dial 6160616.
  • You can dial HDFC Bank Customer Care Phone Banking Numbers in India. Click the link below to see the numbers for different cities:

https://www.hdfcbank.com/personal/need-help/customer-care  

  • To contact the customer care through other methods, click on the link mentioned below:

https://www.hdfcbank.com/personal/need-help/contact-us 

Loan on HDFC Bank Credit Card EMI Calculation

There is a fix EMI structure for HDFC Insta Loan and Jumbo Loan. Below is the EMI Table for both the loans set by the bank at 1.25% interest rate per month.

HDFC Insta Loan EMIs Details

HDFC Insta Loan EMI Table
Tenure (Months)Rs. 50,000Rs. 1,00,000Rs. 3,00,000Rs. 5,00,000
12 months4,5139,02627,07745,129
18 months3,1196,23818,71531,192
24 months2,4244,84914,54624,243
36 months1,7333,46710,40017,333
48 months1,3922,7838,34913,915
60Rs. 1,189Rs. 2,3797,137Rs. 11,895

HDFC Jumbo Loan EMIs Details

HDFC Jumbo Loan EMI Table
Tenure (Months)Rs. 50,000Rs. 1,00,000Rs. 2,00,000Rs. 5,00,000Rs. 10,00,000
12Rs. 4,513Rs. 9,026Rs. 18,052Rs. 45,129Rs. 90,258
18Rs. 3,119Rs. 6,238Rs. 12,477Rs. 31,192Rs. 62,385
24Rs. 2,424Rs. 4,849Rs. 9,697Rs. 24,243Rs. 48,487
30Rs. 2,009Rs. 4,018Rs. 8,036Rs. 20,089Rs. 40,179
36Rs. 1,733Rs. 3,467Rs. 6,933Rs. 17,333Rs. 34,665
48Rs. 1,392Rs. 2,783Rs. 5,566Rs. 13,915Rs. 27,831
60Rs. 1,189Rs. 2,379Rs. 4,758Rs. 11,895Rs. 23,790

Comparison of HDFC Bank Credit Card Loan with Other Lenders

Name of LenderRate of Interest (per annum)Processing FeeMaximum Loan Limit
HDFC Loan on Credit Card15% - 23%Up to Rs. 999 + GSTDepends on the available credit card limit
Citibank9.99% - 16.49%Up to 2% + GSTRs. 30 Lakhs
SBI9.60% - 15.65%1.50% + GSTRs. 20 Lakhs
Tata Capital10.99% onwardsUp to 2.75% + GSTRs. 25 lakhs
ICICI Bank10.50% - 19%Up to 2.25%Rs. 25 Lakhs

Documents Required for HDFC Loan on Credit Card

No documents are required for HDFC credit card loan as it is a Pre-approved Personal Loan available to only select HDFC Bank customers. The bank already has the required documents of their customers, so they do not require any additional documents for this loan.

Eligibility Criteria for Loan on HDFC Bank Credit Card

The customers who satisfy the following criteria are eligible for a HDFC Loan on Credit Card:

  • Should have an active HDFC Bank Credit Card.
  • Should have a good payment record of earlier Credit Cards (if any).
  • The loan will be sanctioned based on the spends, transaction pattern, and payment history of the borrower.
  • The applicant should have a good monthly income, repayment capacity, and credit score.

Loan on HDFC Bank Credit Card Charges

  • Interest rate: 15% to 23% p.a.
  • Processing fee: Up to Rs. 999 + GST, depending on the customer’s eligibility and offer details.
  • Penal interest for auto debit return: 2% on payment amount, minimum Rs. 300. 
  • Pre-closure charges: 3% of the balance principal outstanding + GST

How to Apply for a Loan on HDFC Bank Credit Card?

To apply for the loan on HDFC Bank Credit Card, a simple application process has to be followed.

You can apply for the loan through Net Banking:

  • To begin with register for HDFC Bank Net Banking facility.
  • Log in to your account and select 'cards'.
  • Go to the 'Transact' option under Credit Card and select the loan type you want to avail.
  • You will receive a call or SMS on your registered mobile number and you will be informed about the eligible amount, interest rate, tenure, and other loan details.

You can apply for the loan through Phone Banking:

  • You can call the HDFC customer care to check for the eligibility and availability of loan on your Credit Card.
  • You will receive a call or SMS on your registered mobile number and you will be informed about the eligible amount, interest rate, tenure, and other loan details.

You can also approach the nearest HDFC Bank branch that offers a loan on Credit Card.

Modes of Fund Transfer

  • The loan amount will be credited directly to your HDFC Bank Savings Account.
  • For customers who do not have an HDFC Bank Savings Account, or a Demand Draft will be issued to the customer.
  • In the case of a Balance Transfer, the loan amount will be disbursed by way of Demand Draft in favor of the other bank duly mentioning the Credit Card number or the loan account number.

Loan on HDFC Bank Credit Card  Repayment

The EMI of the loan along with GST will be included in the statement of the next immediate billing cycle. It will be mentioned along with the minimum amount due in your card statement. You will have to pay the outstanding balance mentioned in the Credit Card statement or the minimum amount due on or before the due date mentioned in the card statement.

In the case of Insta Jumbo loan, an Auto Pay will be activated within 7 days of loan booking. The EMI will be debited to the savings bank account of the cardholder.

For unrestricted use of the card ensure to pay the card dues on or before the due date.

Kotak Personal Loan Festival Offer 

Ahead of festival season, Kotak Mahindra Bank has announced Rs 999 flat processing fee offer on Personal Loans. Customers can avail of instant approvals on personal loan applications up to Rs. 20 Lakhs at lowest interest rate starting at 10.25% p.a for maximum of 5 years. 

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HDFC Bank Credit Card Loan FAQs

Who is eligible for a loan on HDFC Bank Credit Card?

A person holding an HDFC Bank Credit Card will be eligible for the loan. The payment of past Credit Card dues should have been made promptly on time and the credit score should be good.

What are the kinds of loans available on HDFC Bank Credit Card?

There are four types of loans available on HDFC Bank Credit Card:

  • Insta Loan which is a pre-approved loan up to or lesser than your Credit Card limit
  • Insta Jumbo Loan which is a pre-approved loan given to select cardholders which will be over and above the Credit Card limit. The card limit will not be blocked in this case.
  • Smart EMI wherein big purchases except for the purchase of jewellery can be converted and paid in easy instalments.
  • Balance Transfer wherein the balance on other non HDFC Bank cards can be transferred to HDFC Bank Credit Card and repaid in 12 to 48 EMIs. The card limit will be blocked to the extent of the loan.

How to apply for a Loan on HDFC Bank Credit Card?

You can apply through internet banking or can give a call or send SMS to HDFC Bank customer care from your registered mobile number. Thereafter you will get a call from the executive of HDFC Bank who will inform you about the eligible amount, interest rate, tenure and other details of the loan. You can also visit the nearest branch of HDFC Bank and apply for the loan.

What are the modes of funds transfer?

The loan quantum will be directly credited to your HDFC Bank savings account. If you do not have an HDFC Bank savings account, the amount will be given through Demand Draft drawn in favor of the applicant. The name of the applicant will be as per the HDFC Credit Card records. In case of Balance Transfer, the loan amount will be disbursed by way of Demand Draft in favor of the other bank duly mentioning the Credit Card number or loan account number.