Personal loan on credit card

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Deal Subedar
titamazon

I am planning to take pl of around 10 lakh, so before applying i am exploring instant loan option from my credit card provider.

I found that below cc offering instant pl on card.

1. Citi upto 4 lakh rate 11%
2. Hdfc based on profile rate 18%
3. Sbi also have this feature, for that i have sent ENCASH message to 56767 and waiting from their end
4 . Indusind also have this feature but dont know how to avail.
5. Cred 4 lakh at 15.5%

So if u guys have any idea abount instant pl on card kindly guide me.

Card which i have
Indusind pinaccle
Hdfc regalia
Sbi prime
Hsbc
Icici amazon
Axis neo
Citi rewards

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Deal Subedar Deal Subedar
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If you are getting lowest from citi go for it
I don’t think any other bank giving loan lower than this based on cc

Deal Cadet Deal Cadet
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Smiling wrote:

If you are getting lowest from citi go for it
I don’t think any other bank giving loan lower than this based on cc

I agree, I also think that is the best deal

Deal Subedar Deal Subedar
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Yes i availed citi 4 lakh offer, but still looking for 6 more lakh and ready to took pl till 13%. Reason i am looking for pl on cc because its really instant and no docs to be submit.

Deal Cadet Deal Cadet
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titamazon wrote:

Yes i availed citi 4 lakh offer, but still looking for 6 more lakh and ready to took pl till 13%. Reason i am looking for pl on cc because its really instant and no docs to be submit.

I hope you are putting it to good use. Just be careful man. All the best plus1

Deal Subedar Deal Subedar
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decideaim wrote:

I hope you are putting it to good use. Just be careful man. All the best plus1

Yes i am taking it for good cause only, and wanna debtfree again asap. But now need pl is d only best option for me.

Cool Cool
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titamazon wrote:

Yes i am taking it for good cause only, and wanna debtfree again asap. But now need pl is d only best option for me.

If you have any FD, PPF you can take loan there as well.
Because Personal loan can’t be below 10-11 percent at any cost.
If you are salaried, Hdfc does provide some better options like SalaryMax try to explore that as well.
Most important – use it wisely and pay back timely

Deal Subedar Deal Subedar
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raman12 wrote:

If you have any FD, PPF you can take loan there as well.
Because Personal loan can’t be below 10-11 percent at any cost.
If you are salaried, Hdfc does provide some better options like SalaryMax try to explore that as well.
Most important – use it wisely and pay back timely

All fd ,lic , equity share , crupto already liquidated in february to buy a land.

So now no investment and ppf have only 2 lakh.

So only pl option as of now.

Deal Captain Deal Captain
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titamazon wrote:

Yes i availed citi 4 lakh offer, but still looking for 6 more lakh and ready to took pl till 13%. Reason i am looking for pl on cc because its really instant and no docs to be submit.

Citi gives Top Up after few months if you keep making payments on time. Citi has lowest rate amongst all.

Deal Newbie Deal Newbie
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Taking personal loan on credit card is another form of credit utilisation hence cibil score can reduce, only hdfc loan on credit card is better,reporting separate account.

Deal Subedar Deal Subedar
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Agniputra wrote:

Taking personal loan on credit card is another form of credit utilisation hence cibil score can reduce, only hdfc loan on credit card is better,reporting separate account.

Citi also give over and above the cc limit.
Hdfc is biggest dragger of credit score as they dont report ur true cc limit, thus over utilization in limit all the time.

Deal Newbie Deal Newbie
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You may take personal loan from hdfc, I got at 10.5% without visiting their loan branch. Just have to WhatsApp income docs and loan was disbursed the same day

Deal Subedar Deal Subedar
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loan on cc at 11% is not equal pl 11% .
emi of loan on cc = emi+gst on interest
emi of pl = just emi

Analyst Analyst
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If you are taking it for immediate consumption and plan to fore-close it in near future, do also take a look at foreclosure charges/penalties etc conditions.

Deal Subedar Deal Subedar
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ramadesidime wrote:

loan on cc at 11% is not equal pl 11% .
emi of loan on cc = emi+gst on interest
emi of pl = just emi

A very valid point; 18% gst is levied on the “interest” for the CC loans, but not on the personal loans. @titamazon

Deal Subedar Deal Subedar
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Agniputra wrote:

Taking personal loan on credit card is another form of credit utilisation hence cibil score can reduce, only hdfc loan on credit card is better,reporting separate account.

My citi card has 1 lakh limit but got a loan of 4 lakh, it means they wil report as seperate account.

Deal Subedar Deal Subedar
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ramadesidime wrote:

loan on cc at 11% is not equal pl 11% .
emi of loan on cc = emi+gst on interest
emi of pl = just emi

True! Only HDFC Jumbo Loan doesnt take GST on interest.

Deal's Advocate Deal's Advocate
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soccergiants wrote:

Citi gives Top Up after few months if you keep making payments on time. Citi has lowest rate amongst all.

After 12 months to be specific,
@titamazon also do check with hdcf and icici, my frnd got at 9.5% from icici.
Citi offered me @ 12%. 

Deal Subedar Deal Subedar
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dungo wrote:

You may take personal loan from hdfc, I got at 10.5% without visiting their loan branch. Just have to WhatsApp income docs and loan was disbursed the same day

you have any account with them, or only applied loan using bank portal ?

Deal Subedar Deal Subedar
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andromeda wrote:

If you are taking it for immediate consumption and plan to fore-close it in near future, do also take a look at foreclosure charges/penalties etc conditions.

yes, but no option for near fund availability, so i am planning to carry till end. Thats why i am looking for short term only 2 year or max 3 year.

Deal Subedar Deal Subedar
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soccergiants wrote:

Citi gives Top Up after few months if you keep making payments on time. Citi has lowest rate amongst all.

topup for normal loan only or for credit card loan also ?

wiling to use topup if offered till 12%

Deal Subedar Deal Subedar
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karthi4052752 wrote:

it will show, but will be unavailable when u try to withdraw

thx for info, anyway 15.5% is with 6000 processing free is too much

Analyst Analyst
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titamazon wrote:

yes, but no option for near fund availability, so i am planning to carry till end. Thats why i am looking for short term only 2 year or max 3 year.

Sounds good. Many avail loans without bothering about foreclosure charges, but later regret for not being able to close without penalties.

Deal Subedar Deal Subedar
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andromeda wrote:

Sounds good. Many avail loans without bothering about foreclosure charges, but later regret for not being able to close without penalties.

Just now noticed ur profile name andromeda, r u lending provider company or just a coincidance

Analyst Analyst
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titamazon wrote:

Just now noticed ur profile name andromeda, r u lending provider company or just a coincidance

Coincidence. I’m not aware there is one such company until now.

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