Credit Card Loan

A credit card comes with a predefined credit limit, enabling cardholders to make monthly purchases within that allocated range. However, in situations demanding immediate liquidity, several banks offer the option of a personal loan against a credit card. This involves leveraging a loan within the existing credit limit, with the approved amount promptly credited to the account upon loan approval. Financial institutions apply an interest rate to the loan amount, and repayment can be conveniently made through Equated Monthly Instalments (EMI) over a specified period. This flexibility empowers users to access cash promptly when needed, providing a structured and manageable repayment framework tailored to individual financial preferences.

Since this loan is mostly pre-approved, the loan amount is disbursed very quickly. Also, for the duration of repayment of this loan, applicant’s credit limit is decreased according to amount borrowed.

Credit Card Loan from banks

Axis Bank Credit Card Loan Apply Now
Interest Rate
10.5% - 24%		 Loan Amount
I 50K - I 40L		 EMI Per Lakh
I 2,149 - I 2,877		 Processing Fees
I 4,999 One time fee		 Part payment Charges
Pre-Payment Charges
4% of the outstanding principal
(loan tenure between 13 - 24 months)
HDFC Bank Credit Card Loan Apply Now
Interest Rate
10.5% - 24%		 Loan Amount
I 50K - I 40L		 EMI Per Lakh
I 2,149 - I 2,877		 Processing Fees
I 4,999 One time fee		 Part payment Charges
Pre-Payment Charges
4% of the outstanding principal
(loan tenure between 13 - 24 months)
ICICI Bank Credit Card Loan Apply Now
Interest Rate
10.5% - 24%		 Loan Amount
I 50K - I 40L		 EMI Per Lakh
I 2,149 - I 2,877		 Processing Fees
I 4,999 One time fee		 Part payment Charges
Pre-Payment Charges
4% of the outstanding principal
(loan tenure between 13 - 24 months)
IDFC First Bank Limited Credit Card Loan
Interest Rate
Loan Amount
EMI Per Lakh
Processing Fees
Part payment Charges
Pre-Payment Charges
Indusind Bank Credit Card Loan
Interest Rate
Loan Amount
EMI Per Lakh
Processing Fees
Part payment Charges
Pre-Payment Charges
Kotak Mahindra Credit Card Loan
Interest Rate
Loan Amount
EMI Per Lakh
Processing Fees
Part payment Charges
Pre-Payment Charges
Tata Capital Credit Card Loan
Interest Rate
Loan Amount
EMI Per Lakh
Processing Fees
Part payment Charges
Pre-Payment Charges
Bajaj Finserv Credit Card Loan
Interest Rate
Loan Amount
EMI Per Lakh
Processing Fees
Part payment Charges
Pre-Payment Charges
Aditya Birla Capital Credit Card Loan
Interest Rate
Loan Amount
EMI Per Lakh
Processing Fees
Part payment Charges
Pre-Payment Charges

Criteria eligibility documents

Eligibility criteria to apply for credit card loan

Credit card holder: In order to apply for a credit card loan from a particular organization, applicant needs to be an existing account holder, and have a valid credit card.

Credit history: An applicant should have a high credit score, which is determined through a reliable credit history. To approve your loan application, banks will thoroughly check your credit repayment history, since this loan is offered to applicants with a clean and timely repayment record.

Credit limit: This loan is only for applicants with a fairly high credit limit.

Documents needed for a credit card loan

The documentation needed for applying for a loan against a credit card is the same as requirements for a credit card application. These include:

  • Address proof, such as a copy of an electricity bill, telephone bill, driving licence, passport, etc.
  • Identity proof, which may include Aadhar card, PAN card, Passport, driving licence, etc.
  • For salaried employees, recent payslips for the last 3 months and an office identity card.
  • For self-employed professionals, Income Tax returns for the past 3 financial years.
  • 2-3 recent passport size photographs.
Rate of interest

The rate of interest on a credit card loan is very low and varies from one lending organization to another. It might range from 1.25% to 3.5%.

Exploring the Advantages of Credit Card Loans

Benefits of Credit Card Loans:

  1. Quick Approval: Credit card loans offer swift approval and disbursement, cutting down on extensive paperwork.
  2. Direct Transfer: Funds are directly transferred to your bank account, making it easy to use the borrowed money.
  3. Low Interest Rates: Enjoy cost-effective financing with typically low interest rates on credit card loans.
  4. Instant Access: Access funds instantly when needed, providing immediate financial assistance.
  5. Easy Application: Apply for these loans conveniently over the phone or online with a simple process.
  6. Flexibility: Apply for a credit card loan anytime, anywhere, offering ultimate convenience.
  7. Minimal Fees: Experience minimal processing fees, reducing overall costs.
  8. Monthly Instalments: Repay the loan through convenient monthly instalments billed to your credit card.
  9. Extended Repayment: Enjoy a reasonable repayment period of up to 24 months.

Who Should Consider:

Consider a credit card loan if you’re a credit card holder facing unexpected expenses. To be eligible:

  • Be an existing customer of the issuing bank.
  • Possess a valid credit card.
  • Maintain a good credit score and repayment history.
  • Review your credit history before applying through online or branch services.

Important Note:

Be aware that exceeding your credit card’s withdrawal limit may lead to a temporary suspension of your card until your loan balance decreases.

Dailyfinserv RECENT OFFERS

Personal Loan

  • Easy documentation & fast disbursal
  • Flexi personal loan tenure
img

Int Rates : 10.5% - 22%
Loan Amount: ₹ 1,00,000.00

Max Tenure : 5
Lowest EMI : I 2,499.00

Get quick processing & speedy disbursal

Personal Loan

  • Easy documentation & fast disbursal
  • Flexi personal loan tenure
img

Int Rates : 10.5% - 22%
Loan Amount: ₹ 1,00,000.00

Max Tenure : 5
Lowest EMI : I 2,499.00

Get quick processing & speedy disbursal

Personal Loan

  • Easy documentation & fast disbursal
  • Flexi personal loan tenure
img

Int Rates : 10.5% - 22%
Loan Amount: ₹ 1,00,000.00

Max Tenure : 5
Lowest EMI : I 2,499.00

Get quick processing & speedy disbursal

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