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Fast Processing ✓ Great Discounts & Offers ✓ Easy EMI Facility | Apply for Credit Card now!

Loan on HDFC Credit Card

Disclaimer: HDFC Bank is not a Finserv MARKETS’ partner. Offers would be from partner Banks/NBFCs only.

Banks facilitate credit card users with personal loan facilities for instant and emergency funding against zero security. HDFC Bank offers personal loans on credit cards to their account holders. Pre-approved personal loans for HDFC credit card users against their credit card limit are one of the highlighting features of HDFC credit card loans.

HDFC Credit Card Loan Purposes

The HDFC credit card loans can be considered for various reasons like –

  • Wedding

  • Travel or Vacation

  • Education

  • Medical Expenses

  • Working Capital for the business

  • Investment in the Assets to yield profits

Types of HDFC Credit Card Loans

HDFC Bank credit card loans can be categorised as –

  • HDFC Instant loan – HDFC credit card loans generally pre-approves instant loans, which are granted against your credit card limit. The monthly statement under HDFC credit card loans includes the loan instalments.

  • HDFC Instant Jumbo Loan – The HDFC instant jumbo loans are similar to HDFC instant loans in terms of flexibility and minimal interest rates but come with a jumbo difference. The loan amount under HDFC instant jumbo loan exceeds the credit card limit of the applicant. Therefore, an applicant applying for an HDFC instant jumbo loan will be allotted a separate loan account and monthly statement to ensure the smooth functioning of the transactions.

  • SmartEMI – A wide range of expenses related to insurance, groceries, education, medical, travel, etc., can be easily converted into SmartEMI through your HDFC Bank Credit Card. With SmartEMI, you can opt for EMIs with a flexible tenure, depending on the loan amount. You can also convert your outstanding credit card balance to EMIs.

HDFC Credit Card Loans Features

Unlike other bank loans, HDFC credit card loans come with some exclusive features and benefits like –

  • No security is required.

  • No documentation process is required for HDFC credit card loans

  • Minimal interest rates charged

  • The tenure for HDFC credit card loans is generally between 1-4 years.

  • The HDFC loan amount can be transferred into the savings or current account of the applicant (HDFC Bank or any other bank)

HDFC Credit Card Loan Eligibility

The eligibility criteria are affected by many factors including the usage pattern of the card, the history of the customer with the bank, credit score, and the tenure of the loan. If you want to check that whether you are eligible for an HDFC credit card loan or not, you have to follow the steps mentioned below:

  • Visit the official portal of the HDFC Bank and log yourself in using your ID credentials.

  • Select the option ‘Cards’, now tap on ‘Credit cards’ from the options displayed.

  • Tap on ‘Transact’

  • Select the ‘Insta Loan’ option.

Your eligibility status will be displayed on the screen.

You can also check your eligibility status via a phone call with the customer care department of the HDFC Bank. You can share the required information about your account, and they will tell you whether you are eligible or not.

Documents Required for HDFC Bank Credit Card Loans 

You don’t have to submit any documents to get a loan against a HDFC credit card. The bank relies on the same documents you submitted during the credit card application process. Hence, there are no additional documents required whatsoever.

HDFC Credit Card Loan Advantages

The HDFC credit card loan is packed with many advantages that act in favour of the customer.

Some of these are:

  • It is a source of instant cash access, especially helpful in times of emergencies.

  • The procedure of the loan application is very consumer-friendly and easy.

  • There is no requirement for additional documents in the application procedure.

  • No additional hidden charges.

  • You can enjoy an interest-free loan in case of a loan for a short-term period.

HDFC Credit Card Loan Interest Rates

The interest rate policy for a HDFC credit card loan differs from customer to customer. In all cases, the loan is unsecured and free from collateral security. The interest rate largely depends on the tenure of the loan, your history with the bank, your credit score and your card usage pattern. You can enjoy an interest-free loan if the term period is between 20-50 days. Beyond that, the interest rate can rise to 3.4% per month if the tenor exceeds 50 days. The maximum term period of an HDFC credit card loan is 60 months.

HDFC Credit Card Loan Application Procedure

The application procedure for an HDFC credit card loan is super easy and hassle-free, with no documentation required. You can apply for the loan by using your

1. Net Banking Credentials

  • Go to the official portal of the HDFC Bank.

  • Log into your HDFC card account.

  • Click on the ‘transaction’ option under ‘credit card’

  • Click on ‘apply for instant loan’ for HDFC credit card loan.

2. Customer service

  • You can contact the HDFC Credit Card customer care service center of the HDFC Bank and request them to proceed with your HDFC credit card loan procedure.

After you apply for the loan, the bank authorities will verify your information and check if you fit the eligibility criteria. As soon as your verification process is completed, you will receive a call from the bank on your registered mobile number to inform you about the details regarding the loan, like the loan amount, period of the loan, and interest rate policies. You will also receive a message with all these details through SMS on your registered mobile number.

How to Apply for a loan on HDFC Bank Credit Card

Applying for a credit card loan is a hassle-free process. No documentation is needed to apply for such a loan. To apply for a loan, you can log into your net banking portal and send a loan request to the bank by clicking on Credit Cards, Transact and then on Insta Loan. Another option is to contact your customer care executive or visit your nearest HDFC Bank branch. As this is a pre-approved loan, it has a quick disbursement period, and you will get an OTP on your registered cell phone number soon after.

HDFC Credit Card Loan Repayment Process

  • All the details about the loan, including loan tenure and repayment policies, will be sent to you via SMS on your registered mobile number as soon as your loan application has been accepted.

  • The repayment cycle of the HDFC credit card loan works every month paid in the form of EMIs (Equated Monthly Installments), including the interest as per the rate mentioned by the bank.

  • There are two options of payments available for the repayment process. Either you can choose ELSS in which the EMI amount will be deducted from your account directly on a monthly basis or you can opt to pay via cheque.

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FAQs on HDFC Credit Card Loan

✔️Can I get an HDFC credit card instant loan?

Yes, you can get an HDFC credit card instant loan. The procedure of this loan is quite simple and fast and requires no documentation. The amount sanctioned in the instant loan is lower than your credit card limit. In case you need an amount more than your credit card limit, you will have to apply for an HDFC credit card instant jumbo loan.

✔️Will interest be charged on my HDFC credit card loan?

The interest rate of the HDFC credit card loan depends on the tenure of the loan. If the loan is for 20-50 days, you will have to pay no interest on it, but if the loan term is more, then the interest rate policies are different. The maximum loan tenure for an HDFC credit card loan is 36 months, and the interest rates for the same can rise to 3.4% monthly. 

✔️What factors might affect my loan on HDFC credit card eligibility?

Various factors can influence your HDFC credit cards loan application, such as income statements that will showcase your paying capacity, your history with the bank that would work for your creditworthiness, and most importantly, the usage pattern of your credit card and your credit score. You can check if you are eligible for an HDFC credit card loan through the online portal of HDFC.

✔️What is meant by SmartEMI?

HDFC Bank's SmartEMI is a facility that allows flexible repayment options with a low rate of interest. It turns your expensive purchases into cost-efficient EMIs, which can be paid over a prolonged period of time.

✔️What is HDFC credit card funds transfer on EMI?

HDFC Credit Card Funds Transfer enables you to transfer your pending payments from your other credit cards to your HDFC credit card. You can then pay the total outstanding amount in convenient, affordable EMIs.

✔️How do I apply for an HDFC Loan with a credit card?

If you have an HDFC credit card, no documentation is needed to apply for such a loan. You can use the net banking portal, call customer care or visit the nearest HDFC branch and request a loan application.