What are the key benefits of SBI Credit Cards?

SBI Credit Cards offer a wide range of benefits, including rewards, cashback, lounge access, discounts, and insurance coverage.

How can I apply for an SBI Credit Card?

You can apply for an SBI Credit Card online through the Paisabazaar platform, where you can compare card options and check for pre-approved offers.

What factors should I consider when choosing an SBI Credit Card?

Consider your spending habits, lifestyle, and financial goals to select a card that best suits your needs, such as travel, shopping, or rewards.

How can I manage my SBI Credit Card efficiently?

SBI Card offers a user-friendly mobile app and online banking services to help you manage your card, check statements, make payments, and access additional features.

What precautions should I take to avoid accumulating credit card debt?

Responsible credit card usage includes paying bills on time, managing credit limits wisely, and avoiding unnecessary spending to prevent debt accumulation.

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Trusted by 1L+ Indians

Want to Achieve any of the below Goals upto 80% faster?

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Retirement

1st Crore

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Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

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Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

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Retirement

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HDFC Credit Card Loan

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HDFC Credit Card Loan

Introduction to HDFC Credit Card Loans

HDFC Bank offers pre-approved loans to its existing credit card holders with interest rates starting from 1.25% per month. These loans come with flexible repayment tenures of up to 5 years, ensuring that borrowers can manage their finances comfortably. The HDFC Credit Card Loan facility stands out due to its zero documentation requirement and the availability of a preclosure/foreclosure option. Upon approval, the loan amount is credited to the applicant’s HDFC Bank savings account within seconds. For those receiving the loan via demand draft, the disbursement may take up to 7 working days.

Key Highlights of HDFC Credit Card Loans in 2024

Interest Rates: Starting from 1.25% per month.

Loan Amount:

Insta Loan: Up to the available credit limit on the borrower’s credit card.

Jumbo Loan: Over and above the available credit limit on the borrower’s credit card.

Repayment Tenure: 1 to 5 years.

Processing Fees: Up to Rs 999 excluding GST.

Why Choose HDFC Credit Card Loans?

HDFC Credit Card Loans are designed for existing credit card holders, offering a seamless borrowing experience with minimal hassle. Here are some compelling reasons to consider this loan option:

Instant Disbursal: Upon approval, the loan amount is credited to the borrower’s HDFC Bank savings account almost instantly.

No Additional Documentation: Since these loans are pre-approved, there’s no need for additional paperwork.

Flexible Repayment: Borrowers can choose a repayment tenure that suits their financial situation, ranging from 1 to 5 years.

Part-Prepayment Facility: This allows borrowers to make partial repayments, reducing the overall loan burden.

Preclosure/Foreclosure Option: Borrowers have the flexibility to close their loan early if they wish.

Interest Rates Comparison

While the interest rates for HDFC Credit Card Loans start at 1.25% per month, it is advisable for credit card holders to also consider other personal loan options available. Here’s a comparison of personal loan interest rates from various lenders:

Axis Bank: 11.25% onwards.

IndusInd Bank: 10.49% onwards.

IDFC First Bank: 10.99% onwards.

HDFC Bank: 10.50% onwards.

ICICI Bank: 10.80% onwards.

Kotak Mahindra Bank: 10.99% onwards.

Tata Capital: 10.99% onwards.

Federal Bank: 12.00% onwards.

DMI Finance: 12.00% - 40.00%.

L&T Finance: 12.00% onwards.

Kreditbee: 16.00% - 29.95%.

MoneyTap: 13.00% onwards.

Piramal Finance: 12.99% onwards.

Aditya Birla: 10.99% onwards.

Moneyview: 15.96% onwards.

Cashe: 27.00% onwards.

Fees and Charges for HDFC Credit Card Loans

Here are the applicable fees and charges for availing an HDFC Instant Loan on Credit Card:

Processing Fees: Up to Rs 999 excluding GST.

Preclosure Charges: 3% of the principal outstanding plus GST.

How to Apply for HDFC Credit Card Loans

HDFC Bank credit card customers can apply for the loan through various methods:

Net Banking

Navigate to ‘Card’.

Click on ‘Credit Card’.

Select ‘Transact’ to access the ‘Insta Loan’ option and apply.

Phone Banking

Call the 24x7 phone banking service provided by HDFC Bank to apply for the credit card loan.

Digital Banking

Visit the HDFC Bank website.

Enter your registered mobile number and last 4 digits of your credit card.

Provide the loan amount and click ‘submit’ to check eligibility.

For those opting to receive the loan via demand draft, note that delivery can take up to 7 working days.

Types of HDFC Credit Card Loans

HDFC Credit Card Insta Loan

Loan Amount: Up to the available credit limit on the borrower’s HDFC Bank credit card.

Tenure: 1-5 years.

HDFC Credit Card Jumbo Loan

Loan Amount: Over and above the available credit limit on the borrower’s HDFC Bank credit card.

Tenure: 1-5 years.

Eligibility Criteria

HDFC Credit Card Insta Loan

Available only to select existing HDFC Bank credit card holders.

Eligibility is determined based on HDFC Bank’s internal guidelines.

HDFC Credit Card Jumbo Loan

Available only to select existing HDFC Bank credit card holders.

Eligibility is determined based on HDFC Bank’s internal guidelines.

CIBIL verification is required, and only customers with a good CIBIL score are considered.

Documentation Required

No additional documentation is required as these loans are pre-approved for select HDFC Bank credit card customers.

Why Apply for Personal Loans at Paisabazaar?

Offers from Top Lenders: Access to 30+ partner banks, NBFCs, and fintechs.

Compare & Choose: Compare loan offers from top financial institutions and choose the best option.

Personalized Solutions & Certainty of Approval: Offers are ranked based on your credit score and other eligibility factors, increasing the chances of approval.

Pre-Approved Loans: Get pre-approved personal loan offers with low processing fees, low interest rates, and minimal documentation.

Unbiased Advice: Paisabazaar’s team of experts can assist with queries and coordinate with lenders.

Complete Digital Process: Experience a completely digital loan application process, allowing you to apply from the comfort of your home.

Document Pickup: If physical documentation is required, Paisabazaar representatives will pick up the documents from your location.

End-to-End Assistance: From finding the right loan to getting the sanctioned amount in your bank account, Paisabazaar offers comprehensive support.

Conclusion

HDFC Credit Card Loans provide a convenient and flexible financing option for existing HDFC Bank credit card holders. With competitive interest rates, minimal documentation, and quick disbursal, these loans are designed to meet immediate financial needs. Whether you need funds for personal expenses, travel, medical emergencies, or other purposes, HDFC Credit Card Loans can be a suitable solution. By understanding the loan types, eligibility criteria, and application process, you can make an informed decision and benefit from the financial flexibility offered by HDFC Bank.