Loan on HDFC Bank Credit Card

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.

• 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.

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.

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 

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 Jumbo Loan EMIs Details

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:

• 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.

• 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

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.

• 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.

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.