You will get the answer to the question, Can I take an HDFC Insta loan on credit card with a negative credit limit? A lot of things are badly impacted with a negative credit limit on a credit card,
A negative credit limit is meant that you have exceeded the total limit of your credit card and that the credit card has been over the limit, In case of credit card is over the limit, it makes you bear the burden of the charges which is called over-limit fees
Insta loan HDFC credit card with a negative credit limit badly ignore that loan offers can not be availed, due to loan processing will decline by the Bank,
HDFC Insta loan credit card with negative credit limit
To avail of that loan, it is mandatory that you should have an available limit of up to 40 % of the total credit card limit, otherwise, minimum INSTA loan to be taken up to 10000 rupees, and maximum can go up to the available credit card Limit,
Hdfc bank recommend insta loan to provide those credit cardholders who have maintained their credit card in keeping with bank terms & conditions, they can easily opt for that loan but if your credit card shows a negative balance, then, insta loan process approval will decline,
But yes you can do one thing to avail yourself that insta loan whether your credit card has a limit with a negative balance or not, so please check the following details before you are willing to take the instant loan in your bank account
- Check the over-limit amount on your credit card
- Try to pay the Total due amount regardless of making payment at the billing due date
- If can’t afford the total amount then please pay the minimum amount due + over-limit amount at a time
- Pay the bill using the fastest mode of credit card payment such as Internet banking, or imps, etc, so that payment could be reached up to credit card instantly,
- After doing those, Go ahead to opt for instant loan,
doing these above-mentioned instructions will no longer create an issue to get that insta loan, remember please, while you avail that loan, the amount of loan is given to the cardholder’s bank account from your credit card itself but it is just like a personal loan but it does block your credit card limit,
therefore you should take HDFC Insta loan credit card if you have an urgent need of money because bank credit that loan amount instantly to your savings bank account,
How to avail HDFC Insta loan credit card ?
First of all, check if that Insta loan HDFC offer is available, if yes then please check the below details
- Check the Loan eligiblity amount.
- Check the Loan processing fee.
- Consider your Loan EMI Tenure in Months.
- Now check total available credit limit of your credit card(because insta loan block your credit Limit)
- Cantact customer care services and ask them to provide you insta loan
- Check Bank saving accounts is not hold,otherwise it will create you a problem.
- Calculate Loan EMIs values (Learn how to calculate EMI)
- Initiate HDFC Insta loan credit card process
- You have made it successfull.
How to avail HDFC Insta loan credit card via Net banking?
Once you have known that Insta loan HDFC credit card offers are available. then. Please login to your HDFC bank net banking, now you can see below steps;
- Go to Net banking cards section
- Click on your existing credit card.
- Choose an option called “Transact”.
- Click on COC/Insta Loan
- Select your credit card again
- Choose the Loan amount.
- Select your saving bank account.
- Validate with OTP you receive on your mobile number
HDFC insta credit card benefits
- Easy to avail
- EMI Tenure is available of your choice
- Insta loan can be availed directly to your bank saving account in a while.
- It is paperless and is given against credit card
- Minimum amount can be taken up to 10000 rupees
- Maximum amount depends on available offers
- Easy to pay the bills with credit card payment.
- it can be pre-closed any time.
HDFC Insta credit card disadvantages
- Processing fee is applicable.
- It does block credit card limit.
- pre-clouser fee also levied( if that loan is closed before the determined tenure)
- GST Charges also included.
Read here- learn how to pre-close Insta Loan
HDFC Insta loan on a credit card with a negative credit limit so can I get a Demand draft?
Ans- No, a Demand draft for that loan will not proceed until/unless you get your over limit case resolved, otherwise please read the above instructions,
Can I get an Insta loan if I have an excess balance on my credit card?
Ans- Yes, no connection with the loan and excess balance, so you can get that loan even if your credit card has an excessed balance
Can I cancel my Insta loan if my credit card gets over the limit after taking insta loan?
Ans- Yes, you can cancel your insta loan within 72 hours from when the loan was taken, for this, you may need to contact hdfc bank credit card customer care services and ask them to cancel your instant loan,
I got Insta loan DD but then Insta loan EMI installment occurred to my statement but DD was not received by me
Ans- I would like you to contact phone-banking services and check your mailing address, if your primary address is correct then ask them to cancel your loan DD, but do it, if you do not receive that DD before seven working days,
Can I take an HDFC loan on a credit card with a negative credit limit?
Ans – No
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