Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • HDFC Insta Loan is Rated as "Great!" by 13541 Users

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    HDFC Insta Loan

    Know about HDFC Insta Loan

    Insta loan was earlier called as cash on call, it is a loan within the credit limit on your HDFC credit card. The loan amount is blocked against the credit limit.

    Eligibility criteria for HDFC Insta Loan

    HDFC Insta Loan is available to select HDFC credit card holders. To know if you are eligible, you can check it through NetBanking, Phone banking, visit your branch or an executive will call you and let you know if you are eligible. You might also get a SMS to your registered contact number to know if you are eligible to avail the HDFC Insta Loan.

    Loan Disbursement

    The loan is disbursed through the following ways:

    • The amount will be credited to HDFC Bank Savings Account
    • Demand draft will be drawn in favour of the applicant's name as per the HDFC Credit card records.

    Loan Repayment

    The loan is to be paid every month and it will be billed to the monthly statement of your credit card. The loan is repaid in EMIs and it will be included in the minimum amount due that will be appearing in your credit card statement.

    The EMI is paid in the following manner and it is calculated using the reducing balance method:

    Month Loan amount of Rs.50,000 Loan amount of Rs.1,00,000 Loan amount of Rs.2,00,000 Loan amount of Rs.3,00,000 Loan amount of Rs.4,00,000 Loan amount of Rs.5,00,000
    48 months Rs.1,392 Rs.2,783 Rs.5,566 Rs.8,349 Rs.11,132 Rs.13,915
    36 months Rs.1,733 Rs.3,467 Rs.6,933 Rs.10,400 Rs.13,866 Rs.17,333
    24 months Rs.2,424 Rs.4,849 Rs.9,697 Rs.14,546 Rs.19,395 Rs.24,243
    18 months Rs.3,119 Rs.6,238 Rs.12,477 Rs.18,715 Rs.24,954 Rs.31,192
    12 months Rs.4,513 Rs.9,026 Rs.18,052 Rs.27,077 Rs.36,103 Rs.45,129

    In the above table the interest was calculated at 1.25% per month. The monthly due will include EMI and service tax on the interest amount of EMI. You can also make use of the EMI calculators available online to determine the EMI amount that is due each month. You will just have to choose the type of loan that you are applying for and entering the required loan amount, then choose the repayment term and finally enter the interest rate charged each month and then hit the calculate button. You will get a complete detail of the EMI that you will be paying each month for the repayment term.

    Term and conditions of HDFC Insta Loan

    The following are the applicable terms and conditions:

    • HDFC Bank reserves the right to decide the eligibility to avail HDFC Insta Loan.
    • The loan amount is less than or equal to the available credit limit on the credit card at the time of processing the loan.
    • The loan amount is blocked against the credit limit and the cash limit will be zero.
    • Equated monthly instalment will include the principal amount along with the interest amount. Monthly loan repayment is EMI along with the service tax on the interest amount of EMI.
    • Processing fee is charged during the immediate billing cycle after booking the loan.
    • The loan can be pre-closed at any time and the pre-closure charge is 3%.
    • Service tax is 14.5% per annum and it is charged on the interest amount of EMI on a monthly basis and is charged on the processing fee and pre-closure charge. The service tax rate is subject to change as per the Government regulations.
    • Partial prepayment of the loan is not allowed.
    • A maximum of 2 HDFC Insta Loans can be availed at any point provided you meet the eligibility criteria.
    • The loan can’t be cancelled once it has been approved and processed.
    • The interest rate and the processing fee will be confirmed while booking the loan.
    • The tenure once set cannot be changed.
    • The loan amount can’t be invested in stock market, mutual funds and for other speculative purposes.
    • If you default on the EMI payment, the loan service will be suspended.
    • The bank can alter, modify or change the terms and conditions without prior notice.
    • The loan is disbursed to your HDFC Bank Savings Account or to HDFC Bank Salary Account.

    HDFC Insta Loan Reviews

    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The HDFC was good with their customer service as i took a personal loan from them . The rate of interest they provided was 10.5% and with zero processing fee they gave me a option of pre closure without any penalty charges that is one thing i liked about them . I took the loan this year 2017 i would say its a good experience .
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with HDFC bank 4 years back. The loan amount was 2.30 lakhs and the rate of interest was 18% which was very high than ICICI bank. The EMI period was 4 years. They didn't provide door step service for the documentation collection and the processing fee was 4,200 which is high and not satisfied.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      I got my personal loan from HDFC Bank. My personal loan procedure was really smooth and HDFC Bank was good with processing the loan. It was a Paperless online application I submitted but I had to submit the hard copies of the documents. HDFC Bank offered me the loan around 10.99% as rate of interest and including insurance amount and processing fees they deducted around Rs. 4000 from my loan amount.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with HDFC bank 4 years back. The loan amount was 2.30 lakhs and the rate of interest was 18% which was very high than ICICI bank. The EMI period was 4 years. They didn't provide door step service for the documentation collection and the processing fee was 4,200 which is high and not satisfied.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      When I applied for the personal loan with HDFC Bank, they disbursed the loan within 24 hours at the rate of interest of 12% or 13%. The total tenure of this personal loan is 3 years. This loan gets over by September 2018 but I have decided to fore close the loan within 2 - 3 months. There is a 2 % pre-closure of the outstanding balance. According to me there should not be any pre-closure charges for the customers who have completed 1 year of the loan period.
      Was this review helpful? 0
      , kolhapur
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Personal loan"
      0.5 4.0/5 "Great!"
      Long back, I had taken a personal loan from HDFC Bank. I had received the NOC from them on time and there was no charges for the same. I had made a foreclosure of the loan and the charges are amounting to 2% on the outstanding principle amount...
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Good service "
      0.5 5.0/5 "Blown Away!"
      I had applied for a personal loan for an amount of 0.75lakhs with nominal rate of interest.customer service is good they had responded on time to my doubts.loan were processed within a short span of time.Overall had a good experience with hdfc.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have approached HDFC bank for personal loan. The customer service is good and the response was fast. The representative very supportive. The rate of interest is too high, they charge 16%. I have submitted the documents online and also executive collected the hardcopy.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I am a previlage customer of HDFC Bank, I have taken personal loan 1 year back. They provided doorstep for the documentation, They have charged nominal interst rate. It took 4 to 5 days for the loan disbursement. I am happy with the customer service. EMI payment is auto debited from my salary account.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      It was a very nice experience with HDFC bank on my personal loan. The rate of interest was nominal.They have disbursed the loan on time. The documents collected by the executive at doorstep. I cannot preclose the before 1 year, there should be no timeline on that.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      My personal loan is with HDFC bank.The process was pretty fast and the documentation was not much as I am an existing customer. The after loan services are also good, the EMI was taken at the right time and no issues till date. They were also normal on the interest and charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Best banking"
      0.5 5.0/5 "Blown Away!"
      I had applied for a personal loan with HDFC bank for an amount of 1.50lakhs with an interest rate of 12.99%.They took nearly7 days to process my application request.bank responded on time without much delay.My only concern about the interest rate is very high as compared tom other banks.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I applied a personal loan with HDFC Bank. HDFC Bank offered me the personal loan with 11.49% as rate of interest which is normal when compared with other banks. Everything was followed up correctly. HDFC Bank disbursed my loan within 5 days. There was a deduction in my loan amount around Rs. 900 - Rs. 1200.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "It was very bad"
      0.5 2.0/5 "Expected more"
      I applied for a Personal Loan with HDFC bank and felt the experience to be pretty bad. I was in a need of money little urgently, that's the reason I went with paperless approval. Even after having the option, the whole loan process took almost 3 weeks to complete. Even after getting the loan, for the payment of my first month EMI I had to face issues. They need to improve a lot.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "DISSATISFIED"
      0.5 1.0/5 "Really Bad"
      I have approached HDFC Bank for personal loan and the process to get the loan is kind of okay. The disbursement was on time was one week. The interest rate is 18% which is very way high and processing charges was 2%. To be frank I did not like their services I have told them to start my EMI 3rd day after my salary date they said yes, but no use of telling they have mention the first day of the salary later called customer care for help they said straight away, it cannot be changed, because this might hit my credit score, because of cheque bounce.
      Was this review helpful? 0
      , nizamabad
      Reviewed on Oct 16, 2017
    • HDFC Bank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from HDFC Bank. I got through with the loan through an online channel. I got a rate of around 11% because this channel was able to pull it through. The process at the bank is good and they were on time to collect the documents and disburse the loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • HDFC Bank Personal Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      The HDFC bank offered me a personal loan with the very high interest rates, so that was the reason I haven't got the loan from HDFC bank . The customer service is good , only thing is they need to decrease their interest rate to increase their number of customers.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • HDFC Bank Personal Loan
      "Services are excellent"
      0.5 5.0/5 "Blown Away!"
      I do not mind the high interest rates and charges that HDFC Bank offers on the personal loan as I am very happy with the customer services and response. Because the customer needs to be acknowledged when ever he reaches out to the bank and he needs to get a proper response. I get the best of services at this bank.
      Was this review helpful? 0
      , jaipur
      Reviewed on Oct 15, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The HDFC bank has disbursed my loan amount within 7 days of time, but initially they have promised that they will disburse my loan within 3 to 4 days of time. The customer support was good with HDFC bank. The rate of interest is nominal with HDFC bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • HDFC Bank Personal Loan
      "Fast Approval"
      0.5 4.0/5 "Great!"
      HDFC offered me a personal loan based on my salary account. The documents are collected by the executive at doorstep. The have disbursed the loan on 5 to 6 days. Rate of interest was high, the bank has charged me 18%. The preclosure and part payment option was good when it comes to HDFC.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 15, 2017
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