Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Loan on IndusInd Bank Credit Card

     

    When you are in an urgent need of cash and you do not have enough funds in your credit card or debit card, you can opt for a loan against your credit card. IndusInd Bank offers its customers with a loan against the credit card limit with interest rates lesser than that of a personal loan. The loan is pre-qualified if the loan amount is equal to your credit card limit and offers a loan above credit limit. The bank offers loans with low processing fees, flexible tenure ranges.

    Types of Loan on Credit Cards

    IndusInd Bank offers a loan against the credit card limit where a loan will be sanctioned to you which will be equal to your credit limit, called ‘Loan against credit limit’.

    The bank also offers a ‘Loan Above Credit Limit’ facility where you can apply for a loan amount which is more than the credit limit of your card.

    However, the bank will reserve the right from time to time to determine whether a cardholder is eligible for the loan or not depending on the bank’s eligibility criteria.

    Features and Benefits

    • Zero documentation is required.
    • Pre-qualified loan amount on your card.
    • EMIs for repayment of the loan will be billed on your credit card monthly bill.
    • Flexible tenure options available.
    • Low processing fees.
    • Option to pre-close the loan at any given time.

    Eligibility of the Loan on Credit Card

    The eligibility criteria to apply for the loan is to maintain a good credit score when it comes to your credit card. Apart from the score, your credit utilization ratio, payment history, and transaction history are the other major factors which will be considered as eligibility factors for the loan against the credit card.

    How to Apply for a Loan on Credit Card?

    You can apply for the loan on credit card through net banking or phone banking as well. You can also call the customer care number of the bank to request the loan.

    • To apply for the loan through net banking, here are the steps which you need to follow:

      • Visit the website of IndusInd Bank.
      • Click on the ‘net banking’ option.
      • Log in to your account and click on your registered credit card.
      • Select the option of ‘loan on credit card’.
    • To apply for the loan through mobile banking, the steps to be followed are:

      • Download Mobile Banking application.
      • Log in to Mobile Banking app by entering your customer ID and MPIN.
      • Click on the option of ‘Credit Card’.
      • Select ‘Loan on Credit Card’.

    If you are not able to access net banking or phone banking due to restricted internet access, you can call on the customer care number of the bank at 1860 267 7777 to apply for the card.

    Repayment of the IndusInd Bank Loan on Credit Card

    Once your application for the loan on credit card has been approved by IndusInd Bank, you will be contacted by the bank through email or call detailing the particulars of the loan. The loan amount, interest rate, the tenure range and repayment schedule of the loan will be sent to you along with the EMI to be paid on a monthly basis.

    The EMI of the loan can be paid either via ELSS where the amount is directly debited from your savings account or you can visit the bank and pay the EMI with a cheque.

    Frequently Asked Questions (FAQs)

    Can I use my accrued points to repay the loan?

    Yes. You can use the points accumulated to repay the loan on IndusInd credit cards.

    Do online applications have more benefits compared to traditional way of applying?

    Yes. Since it is quick with less paperwork, it works out cheap and ultimately benefits you.

    The ID card I have submitted is lost. Should I submit another card?

    Yes. You must notify IndusInd bank and submit a copy of another of your ID.

    What will be the benefits of IndusInd loan on credit card?

    Less paperwork, no documentation and quick disbursal will be some of the many benefits that comes with IndusInd loan on credit cards.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.