HDFC CC jumbo loan interest rate

HDFC CC jumbo loan interest rate

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I am getting loan interest rate around 16-18% reducing balance rate .

How much interest for your account ?

I think HDFC give lower interest rate around 11-12% for some accounts .

19 Comments  |  
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you can get at 12% , contact cc if required loan

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how to make use of this loan ? any scheme to make money using this ?

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pentiumd wrote:

how to make use of this loan ? any scheme to make money using this ?

Take big loan and then run away to foreign country grin grin grin grin grin grin grin

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these jumbo loans on card are designed to earn money for bank while showing you that you are getting a good deal.
i mean it is still better than doing min payment on card and keep paying extremely high interest indefinitely but these loans on card will always be in this interest range of 16-19%.

If you really need some large amount, then better to go for a personal loan if you have account with bank. visit branch and talk to the people there , they are always ready to give personal loans and you can get good interest also.
Many times you can even see pre approved personal loans on netbanking. For me on hdfc netbanking it was showing 10.99% interest rate pre approved loan some time back.

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raj7254 wrote:

these jumbo loans on card are designed to earn money for bank while showing you that you are getting a good deal.
i mean it is still better than doing min payment on card and keep paying extremely high interest indefinitely but these loans on card will always be in this interest range of 16-19%.

If you really need some large amount, then better to go for a personal loan if you have account with bank. visit branch and talk to the people there , they are always ready to give personal loans and you can get good interest also.
Many times you can even see pre approved personal loans on netbanking. For me on hdfc netbanking it was showing 10.99% interest rate pre approved loan some time back.

Yes bro u right , Credit card interests are so high bro abround 30% or around 40% . personal loans from bank range from 16-19% (1-2% less for salarized ppls). but these pre approved loans on CC which does not block your limit which I think almost same or less than personal loans . NBFC companies too give loans with high interest rates .

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HDFC was offering loan on CC Jumbo loans for 12% few years ago, Now they have increased to around 18% reducing balance (they added extra insurance part after increasing the interest rate.)
There wont be any GST on the EMI interest part for Jumbo loans. But Insta loan has GST part.

What is the processing fee for your loan? It is used be around flat 500+GST.

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rusenz wrote:

you can get at 12% , contact cc if required loan

@rusenz

Are you referring to Jumbo loan from HDFC?
If so, have you ever used the jumbo loan from HDFC and got reduction in interest after talking to Customer care?
Please let us know, which is useful for many.

PS: Citi customer care reduces the processing fee but they only offer insta loan with GST part. I have availed it many times.

Lord of love radha and krishna by parth27 d5gnfyw %281%29
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ramadesidime wrote:

HDFC was offering loan on CC Jumbo loans for 12% few years ago, Now they have increased to around 18% reducing balance (they added extra insurance part after increasing the interest rate.)
There wont be any GST on the EMI interest part for Jumbo loans. But Insta loan has GST part.

What is the processing fee for your loan? It is used be around flat 500+GST.

Yhea they have increased the ROI NOW in April they offered at 11.99% now it is 15%, Indusind is offering me @ 13% and citi is offering little lesser rate

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If this Jumbo loan is availed then will it show up in my Cibil report? coz i heard we get a new jumbo card a/c number with separate statements for it.

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watever wrote:

If this Jumbo loan is availed then will it show up in my Cibil report? coz i heard we get a new jumbo card a/c number with separate statements for it.

yes, it shows up in cibill and it will have seperate a/c and statements.

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AnnamalaiNryaa wrote:

Yhea they have increased the ROI NOW in April they offered at 11.99% now it is 15%, Indusind is offering me @ 13% and citi is offering little lesser rate

Citi’s offer is with GST part, even though it is not part of the credit limit. The EMI+GST gets billed to CC. In case of HDFC, it is just like personal loan without GST part and it would be deducted from bank account.

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Few days ago my RM is pestering me to take a Jumbo Loan on my HDFC card . She said it is a limited time offer where the processing fee of 750will be waived off (excluding GST on it) . The interest was high like 16% . I said to her that I am getting card loan offers from SBI and AXIS at @ 14% . All banks are giving reducing balance rate loans now a days so why pay extra
. Anyway now while checking I found in HDFC netbanking that for my account interest rate to 12% .But for 5 years term only . I think it’s a good interest rate than other bank at current time . Thinking to take this and close all my small small jumbo loans running at 15% and 18% .

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watever wrote:

If this Jumbo loan is availed then will it show up in my Cibil report? coz i heard we get a new jumbo card a/c number with separate statements for it.

Yes . Separate account like a new credit card . So whenever you take new jumbo loan it will be added to this same card only .It has a upper limit like a normal CC . But you can not pay it through CRED .I think because this card is showing in my CRED account but since I do not know it’s Expiry and all I can not pay it through CRED . The monthly EMI of total jumbo loans will be debited from our saving account .

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ZitOO wrote:

Few days ago my RM is pestering me to take a Jumbo Loan on my HDFC card . She said it is a limited time offer where the processing fee of 750will be waived off (excluding GST on it) . The interest was high like 16% . I said to her that I am getting card loan offers from SBI and AXIS at @ 14% . All banks are giving reducing balance rate loans now a days so why pay extra
. Anyway now while checking I found in HDFC netbanking that for my account interest rate to 12% .But for 5 years term only . I think it’s a good interest rate than other bank at current time . Thinking to take this and close all my small small jumbo loans running at 15% and 18% .

what if we decide to pay it soon? are there any pre payment charges?

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watever wrote:

what if we decide to pay it soon? are there any pre payment charges?

Yes foreclosed possible In jumbo loan , there is a percentage on outstanding as charge . What is the percentage I am not sure . Will update once I take loan and close existing ones on Tuesday . But condition is that you can only close after completing 1 year . Charge will be around 3-5% max

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ZitOO wrote:

Yes foreclosed possible In jumbo loan , there is a percentage on outstanding as charge . What is the percentage I am not sure . Will update once I take loan and close existing ones on Tuesday . But condition is that you can only close after completing 1 year . Charge will be around 3-5% max

It’s 3 pct.. I closed one couple of weeks back..

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ZitOO wrote:

Few days ago my RM is pestering me to take a Jumbo Loan on my HDFC card . She said it is a limited time offer where the processing fee of 750will be waived off (excluding GST on it) . The interest was high like 16% . I said to her that I am getting card loan offers from SBI and AXIS at @ 14% . All banks are giving reducing balance rate loans now a days so why pay extra
. Anyway now while checking I found in HDFC netbanking that for my account interest rate to 12% .But for 5 years term only . I think it’s a good interest rate than other bank at current time . Thinking to take this and close all my small small jumbo loans running at 15% and 18% .

Last time the girl from the bank called me with a loan offer at 15%, I simply told her than I will invest my idle funds to the bank if bank gives me 13%. She never called me after that.

Clj ysswgaac6so
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recently took personal loan @ 10.75% by calling hdfc personal banker

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