Proactive measures (on credit cards) by banks d...

Proactive measures (on credit cards) by banks during this lockdown

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Deal Newbie
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Hi,

As some of you know, kotak has stopped cash withdrawal and personal loan on credit cards.

Anyone witnessed similar actions followed by other banks.?

I heard that HDFC had increased personal loan rates and stopped jumbo personal loan.

11 Comments  |  
8 Dimers
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Deal Subedar
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ICICI limited cash withdrawal to 10k max

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Deal Newbie
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sardasa wrote:

ICICI limited cash withdrawal to 10k max

Proof? Mail aaya?

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Deal Subedar
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divyeshmehta1026 wrote:

Proof? Mail aaya?

Yes. Deleted the mail.
If u don’t want to believe then don’t.

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Deal Newbie
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sardasa wrote:

Yes. Deleted the mail.
If u don’t want to believe then don’t.

Arey. I didn’t mean that seriously bhai

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Deal Subedar
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Got mail from hdfc, they are giving preapproved loan on my credit card. I dont need it. Though they have decreased the limit from previous offers of lakhs to few thousands only now.

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Deal Cadet
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divyeshmehta1026 wrote:

Proof? Mail aaya?

10k cash withdrawal limit on ICICI Credit cards…Yes email received but I never withdrawn cash using credit cards & no-one should because there are heavy charges on all credit cards if you withdraw cash using them…Use debit cards always to withdraw cash…

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Deal Cadet
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Alexios wrote:

Got mail from hdfc, they are giving preapproved loan on my credit card. I dont need it. Though they have decreased the limit from previous offers of lakhs to few thousands only now.

Yes I received that email too & I also don’t need the loan on card…Never wanted…

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Deal Cadet
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Yes jumbo loan loan withdrawn by HDFC and insta loan rates increased….had seen 20 percent pre Corona, now it’s 24

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Deal Cadet
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Hdfc sent me this month card statement with only credit card total due amount , and minimum amount to pay is Zero.

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Deal Cadet
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ZitOO wrote:

Hdfc sent me this month card statement with only credit card total due amount , and minimum amount to pay is Zero.

that is as per RBI guidelines
But you should pay full amount
else be ready to pay Interest @ 2.99% per month pus gst
say you have credit card due is 2000 now you will pay 2 months interest on this mount this is around 1200 and gst on top of it so for Rs 20000 you are paying around 1500 extra for two months every monthly delay will put you in more trouble

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Deal Lieutenant
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flawlessking wrote:

Yes jumbo loan loan withdrawn by HDFC and insta loan rates increased….had seen 20 percent pre Corona, now it’s 24

It has not been withdrawn. Amount of Jumbo Loan and Instaloan has been decreased. Yes, Interest rates have been hiked to almost 20% pa.

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