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HSBC is a multinational banking and financial services company that was founded in 1865. In India, the bank offers retail banking, financial planning, cash management, credit cards and other banking services. HSBC cardholders can access cash on their credit cards and conveniently borrow money to pay for their expenses through the Cash-on-EMI feature offered by the bank. This feature is a great boon for people looking for instant cash.
In order to be eligible for the Cash-on-EMI feature, you need to be an HSBC credit cardholder. However, only select cardholders of HSBC credit cards can avail this feature. No documents are required for availing this loan.
The fastest and simplest way to apply for HSBC loan on card is to apply for it online through the HSBC netbanking portal. While applying for such loans, you will need to provide the following information:
The minimum amount is Rs 5000 for opting for this facility.
No, the money obtained through this facility cannot be invested on mutual funds, equity shares, debentures and convertible bonds.
Yes, opting for this facility will lower the credit limit of your credit card and the limit will be gradually increased when the EMI payments are made.
The Cash-on-EMI facility is only available to HSBC cardholders. If you do not have an HSBC credit card, you can apply for one online at Bankbazaar.com.