Credit cards serve a number of useful purposes, including the ability to pay for your purchases when you do not have cash with you. With HDFC Bank Loan on credit card products, you can get a pre-approved loan with the credit card. HDFC’s credit card loans are easy to apply and is disbursed quickly. With the SmartEMI scheme, you will be able to convert your expensive spends into affordable instalment schemes. With HDFC’s comprehensive credit card portfolio, all your credit card needs will be taken care of.
Two types of pre-approved loan schemes are offered on credit cards.
Insta Loan is a pre-approved loan within the credit limit of your HDFC credit card.
This is a pre-approved loan scheme which is above the credit limit of HDFC credit card. The loan amount will not be blocked against the credit limit for Insta Jumbo Loan.
Only select HDFC Credit Cardholders are eligible for the loan through Insta Loan and Insta Jumbo Loan schemes. You can check the eligibility using any of the following.
If you are a credit cardholder registered with NetBanking facility, login to your account and select “Transact” option under the credit cards section. You can go to “Insta Loan” or “Insta Jumbo Loan” to check your eligibility.
You can also check your availability by contacting HDFC Phone Banking unit anytime round the clock.
You can apply for the loan through NetBanking portal or phone. After applying, you will receive a call or SMS briefing about the amount, tenure and interest rate. Alternatively, you can also visit the nearest HDFC branch to apply for loan on credit cards.
The interest is calculated using reducing balance method based on the tenure, the quantum of loan and interest rate.
You can transfer the outstanding balance on your other credit cards to your HDFC credit card and pay the total outstanding amount in EMI.
With HDFC’s SmartEMI facility, you can convert your costly purchases into easy monthly instalments with low rate of interest and flexible tenures.
No, you do not have the option to convert gold and jewellery purchases to EMI. You can convert electronic purchases, lifestyle spends, travel expenses and insurance spends to EMI.
Yes. 1% of the loan amount will be levied as processing fees.