A credit card is the best option for getting a Credit Card Loan and additional funds to help in any situation. Many banks provide a credit card. After approving your loan request, you can easily get your loan through a credit card. A credit card limits any cardholder’s use in a month and pays after the next month a maximum of 40 to 48 days without any interest; otherwise, you cannot pay under these days, so don’t worry, the bank offers you the option to pay the next month with interest. If you have an urgent need for cash, all banks offer loans against credit cards. You can easily get your loan amount into your bank account. You can apply for a loan against a credit card, and after approval, your amount is credited to your bank account. If you have a large limit of cards and you can use them but aren’t able to pay, don’t worry; the bank provides an EMI facility so you can pay your entire amount easily (EMI).
Know About the Features of a Loan on Credit Card
Most banks offer a loan against a Credit card. If you have a credit card and you want a large loan, you should know all the features of a Credit Card Loan and then apply.
- Attractive Interest Rates: You can get low-interest rates on Credit Card loans compared to other banks, from 10.99 to 15.99.
- Zero Documentation: Since it is a pre-approved loan extended to select customers, no need for any paperwork. No Need for Extra Documents. The loan was processed online and disbursed quickly. Only your Credit Card number and registered mobile number is required for OTP verification before the loan amount disbursal
- Pre-closure/Foreclosure: You can call the PhoneBanking or Relationship Manager to close the loan at any time you wish. Pre-closure/Foreclosure facility is offered at a nominal fee.
- Easy Payment and EMI: You can choose between a 12- to 60-month EMI option according to your history.
- Instant Loan: Easily get up to Rs. 20 Lakh in an instant loan.
- Smooth Funds Transfer: The amount will be credited into your Savings Account in seconds.
- Convenient Processing: No Fees and Guarantors for Loans Against Credit Cards
Eligibility for Loan on Credit Card
The important factor for banks to issue a Credit Card Loan
- You must have a very good track record
- Must have a good record of all transactions
The bank follows some internal policies before prosvide a Credit Card Loan
How to apply Credit Card Loan
There are two ways to apply for credit card loan Online and Offline. Get a loan against Credit Card in just few Clicks:
Offline:
- You can visit your bank and know and check about your credit card loan and offers.
Online:
- Digital Portal: visit our bank official website and check your loan offers and choose best offer for you and conferm your loan.
- NetBanking: Login your Net banking in your PC and Phone and follow some steps visit credit card section choose Credit Card>Offers>Loans
- PhoneBanking: Login your phone banking and visit credit card section and get more offers and apply online.
Take Advantage of Loan on a Credit Card.
- Not all Credit cards loan offer is real so don’t provide an any extra personal document
- You can complete your expansive purchase with the easy installment
- Pay your other credit card due very easily
- Before applying for a credit card loan, banks don’t want a greater and any cheque
- You can easily compare other banks and get a low-interest rate
- You can get Credit Card for large amounts up to 50 lakhs
How to Increase Credit Card Limit for a Large Amount of Loan
If you don’t have a credit card and don’t know how to make a credit card. So simple if you are thinking to create a credit card your cibil score is most important. Every bank offers credit cards on behalf of CIBIL Score if your cibil score is high so any banks offer a credit card with a low credit limit for you but after using it for some time you can pay all EMI and all credit bills before the due date. so they increase your credit card limit. If your credit score is high All banks offer a large number of Loans on behalf of a credit card with a low-interest rate. So you are paying all dues from time to time and
Yes, you can borrow money using the Bajaj Finserv RBL Bank credit card. You can avail of a loan against a credit card at a nominal interest rate of 1.16% with no additional paperwork.
There are 2 types of Loan on Credit Card available:
1. Insta Loan: This Loan amount is within your available Credit Card limit. Eg: If your Credit Card limit is Rs.1,50,000/-, your loan limit can be Rs.1,20,000 (limit depends on various criteria). If you have already spent Rs.50,000 then the maximum loan amount that you can get will be Rs.1,00,000/- which will be blocked against your remaining limit.
2. Jumbo Loan: This Loan amount is over and above your available Credit Card limit. Eg: If your Credit Card limit is Rs.4,00,000/- , your Loan limit can be Rs.4,00,000/- or more. You can also spend on your Credit Card as it will not block your Credit Card limit.
You can choose for a higher Loan amount by checking your eligibility for Jumbo Loan on Credit Card
Once you confirm, you can get the money in just 1 second into your HDFC Bank Savings A/C via our online Loan process. In case, you don’t have an HDFC Bank Savings A/c, you’ll get the money via Demand Draft within 7 working days.
Processing fees vary between 1-2% as per the eligibility of the credit card owner
A 4% charge applies in the case of pre-closure of the loan as per the stipulated charges