Proactive measures (on credit cards) by banks during this lockdown
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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.
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Proof? Mail aaya?
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…
Yes jumbo loan loan withdrawn by HDFC and insta loan rates increased….had seen 20 percent pre Corona, now it’s 24
It has not been withdrawn.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.
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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 by banks during this lockdown for Rs. at ){kind=link}
ICICI limited cash withdrawal to 10k max