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Facing a cash shortage? Check all the details of availing a loan against your HDFC Bank credit card.
HDFC Bank offers its credit card customers the provision of loans on their credit cards. So, if you are in need of an urgent inflow of cash, you can easily apply for a loan on your HDFC Bank credit card and the bank will credit the amount to your savings account instantly.
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There are 2 types of HDFC Bank loans on credit cards:
Insta Loan: This is a pre-approved loan within your available credit card limit.
Jumbo Loan: This loan amount is usually above your available credit card limit.
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HDFC Bank offers loan on credit cards at attractive interest rates starting at 1.25% per month. These interest rates are the same for the online and telephonic processes. The tenure for these loans range from 12 - 60 months.
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The eligibility criteria for getting a loan on an HDFC Bank credit card is having a good credit score and transaction history. You can check your eligibility for an HDFC Bank credit card loan on their online portal.
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No documents are required to avail HDFC Bank loan on credit card, considering that you already own a credit card with HDFC Bank and the bank has all necessary information about you.
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You can apply for an HDFC Bank Loan On Credit Card via their NetBanking portal or their PhoneBanking portal.
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Once the loan is approved, the loan amount is disbursed instantly to your HDFC Bank savings account via the online loan process. In case you don’t have an HDFC Bank savings account, you will receive the money via Demand Draft from the bank within 7 working days.
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The bank offers the loan pre-closure/foreclosure facility at a nominal fee.
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