A quick guide to credit card loans in India: Credit cards have become very popular given the wide variety of options they offer ranging from EMIs to cash withdrawals, Cash back to loans. In case of urgent requirements, one may have to face a lot of difficulties in securing the required finance. However, loans against credit cards are very good in the event of unforeseen financial emergency as the loan gets disbursed quickly which is not possible in the case of traditional loans. A few popular loan options against credit card are enumerated here below:
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Standard Chartered loan on card:
Standard Chartered Bank provides loan on credit card in the form of many options. They are
| Dial-a-loan | One can get a loan on credit card of up to INR 7,50,000 without any documentation at attractive interest rate, in his bank account in 2 days via NEFT |
| Kuch Bhi on EMI | Using this option one can convert the big purchases into EMIs |
| Balance on EMI | You can convert your credit card outstanding amount into monthly installments at attractive rates. |
| Balance transfer | You can transfer the outstanding balance on any other bank credit card to your Standard Chartered credit card at attractive interest rates. This helps to save the interest costs in the case of loans having higher interests. |
Citi bank loans:
| Loan On Call | By calling the designated number, you can apply for a loan against credit card. Based on your credit history loan will be disbursed to you. |
| Convert to EMI |
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Axis Bank instant loan against credit card:
| Instant loan against credit card | By giving a missed call on 18004190230 or by calling 18605005555 /18604195555, one can get the instant loan against his axis bank credit card at attractive interest rates and flexible repayment tenure with no extra documentation. A one-time Processing Fee of 1.5% or Rs.500 whichever is higher |
HDFC loans:
| Insta loan | HDFC Bank Credit Cardholders can get Pre-approved Loans on Credit Card in a very short amount of time. One would get the amount within his credit limits with no documentation, flexible tenure and competitive interest rates. |
| Insta Jumbo loan | One can get a loan against over and above credit card limit within seconds, and have the money credited to HDFC Bank Savings Account immediately. |
| Smart EMI | You can convert every credit card payment into an EMI scheme with attractive rates of interest. |
| Balance Transfer on EMI | You can transfer the outstanding loan and credit card amounts to HDFC Bank Credit Card and pay them in pocket friendly EMIs |
SBI Card Encash:
This is a Pre-approved offer over and above or within your existing credit limit. No need for documents, paperwork or post-dated cheques. The mode of disbursement is a payable cheque which will be delivered at your registered address within 3-5 working days. A one-time processing fee of 2%, up to a minimum of Rs. 499 and a maximum of Rs. 3,000 is charged. In case of foreclosure of the loan, 3% foreclosure fee on the outstanding principal amount will be charged.
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