Multiple banks. Different interest rates. Call it a "conflict of interest".
  • HDFC Insta Loan is Rated as "Great!" by 15879 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    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
      "Need to improve the service"
      0.5 2.0/5 "Expected more"
      HDFC have delayed too much in disbursing the loan. The rate of intersect and charges are good. The document are submitted online, I opted for 4 years. The partial payment can be done after one year and they charge 4% for foreclosure. The customer service and response was not up to the mark.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 14, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The process was very faster and the response was on time. They have delivered the loan within a week. The documentation procedure was easy and have submitted online and as well as to the executive. I think the rate of interest was little bit high suggest them to reduce the charges. The loan tenure is 5 years and its a fixed interest rate.
      Was this review helpful? 1
      , hosur
      Reviewed on Jan 14, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I took my personal loan from HDFC Bank through online channel. The rate of interest was nominal and I felt it was good. The processing fee was not more than other banks. I have opted the loan for 4 years. I can do part payment and foreclosure without any charges even insurance fees will get reduced.
      Was this review helpful? 0
      , nellore
      Reviewed on Jan 14, 2019
    • HDFC Bank Personal Loan
      "Its Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I received the loan amount from HDFC Bank, the bank have sanctioned the loan amount of Rs. 2 lakhs and they deducted the insurance fee and credited the amount of Rs. Rs.1.91 , the HDFC bank executive came to my office and collected the hard copy for the loan process.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 14, 2019
    • HDFC Bank Personal Loan
      "Good service but need to reduce the charges"
      0.5 5.0/5 "Blown Away!"
      I did not had any problems and uploaded the documents online. I got the loan easily. Its happened before a week time and the customer service is good. The rate of interest was bit high and they do charged a processing fee around 8K where other banks does not have documentation and processing fee.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 14, 2019
    • HDFC Bank Personal Loan
      "Loan process duration should be reduced and with the interes"
      0.5 3.0/5 "Satisfactory"
      I have one more loan with HDFC, they were charging more interest rate around 17% its huge as per the market. The executive disclosed about the charges and interest before the disbursement. Interest is matter that should be reduce many customer can approach and they taken long time to disburse the amount.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 14, 2019
    • HDFC Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have applied the personal loan from HDFC Bank through online portal. The process was lengthy and email was not clear which am not expected. The rate of interest and the processing fee was okay. The process was not long and it was moderate. I can do the foreclosure and part payment anytime.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jan 14, 2019
    • HDFC Bank Personal Loan
      "Good in Service"
      0.5 3.0/5 "Satisfactory"
      I had applied for personal loan with HDFC bank and this is the my first loan with HDFC. My application was considered and was processed, there was a bit delay. At the beginning i was informed about the interest rates and emi charges. But after approval of loan i can see that there is extra Emi charges and i need a clarification on that.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 13, 2019
    • HDFC Bank Personal Loan
      "High interset rates"
      0.5 3.0/5 "Satisfactory"
      I applied for a personal loan with HDFC bank and my application was taken care. The interest rates that has been assigned on my loan is bit high. At the Beginning it was said that the interest rate was 15.75% but now after approval it is somewhere 16%.
      Was this review helpful? 0
      , salem
      Reviewed on Jan 13, 2019
    • HDFC Bank Personal Loan
      "Experience is good"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from HDFC Bank.This process was manually done and they documents was also taken for the same. I received the loan in one week. The loan amount provided was as needed. The rate of interest was of 10.75%. The processing charges was normal.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 13, 2019
    • HDFC Bank Personal Loan
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan with HDFC bank and the process was good. It was a good experience and a on time process as well. The rate of interest is nominal. The processing charges is also satisfactory to me. The after loan services is also good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 13, 2019
    • HDFC Bank Personal Loan
      "Good in Service"
      0.5 5.0/5 "Blown Away!"
      I have applied personal loan in HDFC Bank and i have got it approved. With HDFC bank this is my first loan and i am pretty much happy with the services.The interest rates are bit higher and it would be great if the interest rates comes down. Interest rates are somewhere 16%.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 13, 2019
    • HDFC Bank Personal Loan
      "Process is good"
      0.5 4.0/5 "Great!"
      I got the personal loan from HDFC Bank. The customer services and response is good and they contacted me on time. The document was collect on time. The rate of interest is low when compared to the other banks. The processing charges are normal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 13, 2019
    • HDFC Bank Personal Loan
      "Interest Rates are high."
      0.5 5.0/5 "Blown Away!"
      At the time i was planning for a Personal loan i had applied with HDFC Bank. This is the second time with HDFC bank and i am pretty much happy with the services. The only concern here is that the interest rates are bit high. If it comes down it will be a great deal..
      Was this review helpful? 0
      , pune
      Reviewed on Jan 13, 2019
    • HDFC Bank Personal Loan
      "High interset rates"
      0.5 4.0/5 "Great!"
      I was looking for a personal loan and thats when i i applied with HDFC bank. This is the first time with HDFC bank and i am pretty much happy with the services that i received. The interest rates are bit high on the loan amount. It will be great if interest rates comes down.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 13, 2019
    • HDFC Bank Personal Loan
      "Need to decrease the interest rate"
      0.5 5.0/5 "Blown Away!"
      I am not happy with rate of interest and have requested for lower rate but they said its not possible for the lower loan amount, doc procedure is easy, they have taken only 2 days to deliver the amount, I can do the part payment and pre closure with some extra charges,
      Was this review helpful? 0
      , mangalore
      Reviewed on Jan 12, 2019
    • HDFC Bank Personal Loan
      "Have to improve the processing time"
      0.5 5.0/5 "Blown Away!"
      The customer service and response was very well. I took my personal loan from HDFC Bank through online channel. The processing fee and interest rate was high compared to others. They have taken nearly 15 days to deliver the loan amount after they have accepted my documents. The executive came to my place and collected the documents.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 12, 2019
    • HDFC Bank Personal Loan
      "Average"
      0.5 5.0/5 "Blown Away!"
      The customer service and response was good. I have taken my personal loan from HDFC Bank . It took 15days and documents are collected. The rate of interest was average and the processing was fine. The loan duration is 5years and installment paid as ECS. I can do preclosure after 6months with 3% where other banks charges less.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 12, 2019
    • HDFC Bank Personal Loan
      "Good in Service"
      0.5 4.0/5 "Great!"
      I had applied for a personal loan with with HDFC bank and this is the second time with HDFC. This time there was a bit delay and to there was on update from the front but later it was taken care.. The interest rates on my loan amount is reasonable..
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 12, 2019
    • HDFC Bank Personal Loan
      "Faster process"
      0.5 5.0/5 "Blown Away!"
      I had a good experience during my personal with HDFC Bank. They have taken 3 to 4 days for the process and executive collected the documents. The rate of interest was okay and its not a problem comparing to others but the processing fee was too much its 2%,. The loan duration is 60 years. I asked the executive, is there any charges for Partial payment but he did not responded me said to complete one year but have seen on the website, it charges 2%extra and can be done anytime.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jan 12, 2019
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