Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Instant loans are sanctioned against Axis Bank credit cards to help customers meet their financial needs in times of emergencies. These loans are granted with minimal documentation and comes with flexible tenure options. This facility allows cardholders to use their credit card to apply for a loan without any hassle.
Please Note: Loans can also be availed by calling the Axis Bank customer care division
| Type of Charge | Rate/fee |
|---|---|
| Processing fee | Rs.500 or 1.5% (whichever is higher) |
| Foreclosure charges | 3% of outstanding principal or Rs.300, whichever is higher |
Axis Bank’s loan against a credit card facility has the following features:
The eligibility criteria to opt for a loan against credit card, you must have a good credit score along with holding an Axis Bank credit card and maintaining a minimum amount in your savings account.
Axis Bank charges a processing fee of 1.5% of the loan amount or Rs.500 for the facility depending on which is higher.
Yes, Axis Bank will charge 3% of the outstanding amount or Rs.300, whichever is higher, if you choose to foreclose the loan against your credit card.
The tenure for the loan against credit card facility by Axis Bank ranges from 12 months to 48 months.
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