Enjoy Availing Top Benefits By Applying Credit Card Loans India
Understanding Of Credit Card Loans India
Credit card loans India is a kind of unsecured personal loan. If you are using a credit card, you can easily apply for an instant loan against your credit card. The only difference between a personal loan and a credit card loan is that your personal loan application may take few days to get approval whereas the credit card loan comes pre-approved.
Unlike a personal loan, credit card loans India has minimalist documentation. A personal loan usually ask for few paperwork in support of your eligibility. Since credit card loans India doesn;t require any documentation, it is one of the quickest and easy option to get quick cash to cover your financial needs. Credit card loans is an unsecured loan like same day payday loans.
Features Of Credit Card Loans
Different banks are offering various credit card loan scheme. Below are the common features which are usually found in credit card loans:
- Since; majority of the credit card loans are pre-approved, there is no need to submit any paperwork; the loan is processed and disbursed quickly.
- With EMI schemes offered by the credit card issuers, it will be easier for you to make adjustments for your purchases into easy affordable instalments.
- Some banks also offer loan against other bank’s credit card; where you can transfer the outstanding balance on other credit cards to one credit card and pay the EMI.
- Credit card issuers also offers you the alternative of applying for the loan within or over your credit limit.
Eligibility For Availing Credit Card Loans India
Most of the credit card loans are unsecured and do not require any collateral for the loan. Hence; the loan is offered to only select cardholders members. Credit card companies have a strict eligibility criteria when it comes to granting credit card loan in India. The cardholder should have a good credit history and a good track record of repayment pattern.
Top Credit Card Loans Providers In India
Standard Chartered Credit Card Loans
Standard Chartered offers up to Rs. 500,000 as loan on credit cards. With interest rates starting at 1.17% per month and flexible tenures ranging up to 60 months
ICICI Credit Card Loans
“Cash-in select” is the credit card loan scheme offered by ICICI bank to the customers based on their performance on ICICI credit cards. Customers can avail loans up to Rs.5 lakhs with multiple tenures ranging up to 36 months.
Citibank Credit Card Loans
Customers can avail Credit or Cash limit on their credit card with a click or over a call. The loan amount can be over and above your Credit limit too, depending on various factors including your credit history. You also get to choose your own time-frame to repay from our 6/12/24/36/48 month options
HDFC Credit Card Loans
If you are looking for a loan that is easy to apply and disbursed quickly, then you can opt for pre-approved loans on your HDFC Bank Credit Card – Insta Loan / Insta Jumbo Loan. Insta Loan is a pre-approved loan within the credit limit of your HDFC Bank credit card. You can take up a loan on credit card that breaks up your purchases excluding Gold/Jewellery into easily affordable instalments through SmartEMI.
SBI Credit Card Loans
Your SBI credit card allows you to convert your big-ticket purchases into easy instalments. Therefore; the loan applicant enjoys doing flexible payments with SBI’s Flexipay option. Flexipay enables SBI credit card holders to convert their transaction greater than Rs.2,500 into easy installments within 30 days. However; bad credit as well as or blocked cardholders won’t be able to avail this service.
Benefits Of Taking Credit Card Loans
- Majority of the credit card loans India are pre-approved and unsecured hence; no need to go through tedious paperwork.
- The credit card loan doesnt ask for collateral or guarantor to sign.
- With credit card loans, you have the option to convert your expensive purchases to easy monthly installments.
- Most credit card companies provide you the option to transfer the balance outstanding from other cards to one single card and pay in EMIs.
- Since; the loan on credit card is pre-approved, it is easy to apply and is disbursed quickly when compared to other loans.
- Most of the loans on credit card require no guarantor or post-dated cheques.
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