You will get the answer to the question, Can I take HDFC Insta loan on credit card with 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 limit, it makes you bear the burden of the charges which is called over-limit fees
HDFC Insta loan on a credit card with a negative credit limit badly ignore that loan offers can not be availed, due to insta loan processing will decline by the Bank,
HDFC Insta Jumbo loan on credit card with negative credit limit
To avail Instant loan it is mandatory that you should have 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 Insta loan ,amount of insta 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 this loan if you have an urgent need of money ,because bank credit that loan amount instantly to your saving bank account ,
FREQUENTLY ASKED QUESTION ON HDFC Insta loan on credit card with negative credit limit
HDFC Insta loan on credit card with negative credit limit so can I get Demand draft ?
Ans- No ,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 insta loan if i have excess balance on my credit card ?
Ans- Yes , no connection with the insta loan and excess balance ,so you can get insta loan even if your credit card have excessed balance
Can I cancel my insta loan if my credit card get over limit after taking insta loan ?
Ans- Yes, you can cancel your insta loan within 72 hours from when 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 to me
Ans- I would like you contact phone-banking services and check your mailing address , if your primary address is correct then ask them to cancel your insta loan DD ,but do it ,if you do not receive that DD before seven working days,
Can I take HDFC Insta loan on credit card with negative credit limit?
Ans – No
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