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 amount||Within the available credit card limit for Insta Loan and over & above the available credit card limit for Jumbo Loan.|
|Rate of interest||15% to 23% p.a.|
|Repayment tenure||12 to 60 months|
|Processing fee||Up to Rs. 999 + GST|
|Lowest EMI Per Lakh||Rs. 2,379|
|Foreclosure charges||3% of the balance principal + GST|
|TAT for disbursal||1 second to 7 working days|
|Types||Insta Loan and Jumbo Loan|
HDFC Credit Card Loan has four options as mentioned below:
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 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.
Pay the outstanding balance on Non-HDFC Bank Credit Card or any loan by converting it to EMI with HDFC Bank Credit Card.
Convert every purchase on HDFC Credit Card except jewellery into EMI.
An HDFC Bank Credit Cardholder who avails any one of the above-mentioned loans against the Credit Card can enjoy the following benefits:
You can contact HDFC Bank customer care for any queries or complaints regarding credit card loan through any of the following ways:
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 EMI Table|
|Tenure (Months)||Rs. 50,000||Rs. 1,00,000||Rs. 3,00,000||Rs. 5,00,000|
|60||Rs. 1,189||Rs. 2,379||7,137||Rs. 11,895|
|HDFC Jumbo Loan EMI Table|
|Tenure (Months)||Rs. 50,000||Rs. 1,00,000||Rs. 2,00,000||Rs. 5,00,000||Rs. 10,00,000|
|12||Rs. 4,513||Rs. 9,026||Rs. 18,052||Rs. 45,129||Rs. 90,258|
|18||Rs. 3,119||Rs. 6,238||Rs. 12,477||Rs. 31,192||Rs. 62,385|
|24||Rs. 2,424||Rs. 4,849||Rs. 9,697||Rs. 24,243||Rs. 48,487|
|30||Rs. 2,009||Rs. 4,018||Rs. 8,036||Rs. 20,089||Rs. 40,179|
|36||Rs. 1,733||Rs. 3,467||Rs. 6,933||Rs. 17,333||Rs. 34,665|
|48||Rs. 1,392||Rs. 2,783||Rs. 5,566||Rs. 13,915||Rs. 27,831|
|60||Rs. 1,189||Rs. 2,379||Rs. 4,758||Rs. 11,895||Rs. 23,790|
|Name of Lender||Rate of Interest (per annum)||Processing Fee||Maximum Loan Limit|
|HDFC Loan on Credit Card||15% - 23%||Up to Rs. 999 + GST||Depends on the available credit card limit|
|Citibank||9.99% - 16.49%||Up to 2% + GST||Rs. 30 Lakhs|
|SBI||9.60% - 15.65%||1.50% + GST||Rs. 20 Lakhs|
|Tata Capital||10.99% onwards||Up to 2.75% + GST||Rs. 25 lakhs|
|ICICI Bank||10.50% - 19%||Up to 2.25%||Rs. 25 Lakhs|
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.
The customers who satisfy the following criteria are eligible for a HDFC Loan on 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:
You can apply for the loan through Phone Banking:
You can also approach the nearest HDFC Bank branch that offers a loan on Credit Card.
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.
Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.9% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.
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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.
There are four types of loans available 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.
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.