An HDFC loan against credit card is a convenient way to access quick funds without pledging collateral. Whether you need emergency cash or want to consolidate debt, HDFC offers flexible options like Insta Loans and Jumbo Loans linked to your credit card. This guide explains how to get a loan on an HDFC credit card, eligibility criteria, interest rates, and how to apply online.
1. Apply for HDFC Insta Loan via Mobile App
HDFC’s Insta Loan feature allows credit cardholders to convert their card limit into an instant personal loan.
How It Works
- Eligibility: Available to HDFC credit card users with a good repayment history.
- Loan Amount: Up to 80% of your card’s available credit limit (e.g., ₹1 lakh limit = ₹80,000 loan).
- Interest Rate: 1.5–2.5% monthly (18–30% p.a.).
- Repayment: EMI options from 6–48 months.
Steps to Apply
- Open the HDFC Mobile Banking App (PayZapp or MyMoney).
- Navigate to “Loans” > “Insta Loan.”
- Enter the loan amount and choose EMI tenure.
- Verify the OTP to get the funds credited to your bank account instantly.
Example: A customer with a ₹50,000 credit card limit secures ₹40,000 via Insta Loan to cover medical expenses.
2. Opt for HDFC Jumbo Loan (Credit Card EMI Conversion)
The HDFC Jumbo Loan lets you convert high-value transactions into EMIs, effectively acting as a loan against your credit card.
Key Features
- Loan Amount: Up to ₹5 lakh (varies by card type).
- Tenure: 6–24 months.
- Processing Fee: 1.5% of the loan amount.
- Interest Rate: 1.25–2% monthly (15–24% p.a.).
How to Convert Transactions to Jumbo Loan
- Make a purchase above ₹10,000 using your HDFC credit card.
- Contact HDFC customer care support at 1800 267 2323 to apply for EMI conversion.
- Choose tenure and confirm terms.
This method avoids late payment penalties and spreads costs over months.
3. Use HDFC Cash on Credit Card
HDFC’s Cash on Credit Card service lets you withdraw cash against your card limit, functioning like an unsecured personal loan.
Eligibility Criteria
- An active HDFC credit card with at least a ₹20,000 credit limit is required.
- Good repayment history (no defaults in the last 6 months).
- CIBIL score above 700 (not always mandatory).
Steps to Avail
- Visit an HDFC branch or use the mobile app.
- Request “Cash on Credit Card” under “Card Services.”
- Submit KYC documents (Aadhaar, PAN, income proof).
- Funds are credited within 24 hours.
This option suits urgent needs like travel or education fees.
Eligibility for HDFC Loan Against Credit Card
HDFC evaluates:
- Credit Limit: Higher limits unlock bigger loan amounts.
- Repayment History: Consistent on-time payments improve approval chances.
- Income Proof: Salaried individuals need salary slips; self-employed applicants submit ITRs.
Example: A salaried individual with a ₹2 lakh credit card limit and 3-year repayment history qualifies for a ₹1.6 lakh Jumbo Loan.
Interest Rates and Calculators
- Insta Loan: 1.5–2.5% monthly (18–30% p.a.).
- Jumbo Loan: 1.25–2% monthly (15–24% p.a.).
- Cash on Credit Card: 2.5–3% monthly (30% p.a.).
Use HDFC’s loan calculator on their website to estimate EMIs. For instance, a ₹50,000 Jumbo Loan at 2% monthly interest over 12 months results in ₹4,750/month EMIs.
Why Invest 1% of Monthly Income Early?
From my experience, financial discipline starts young. Even if you take an HDFC loan against credit card, allocate 1% of your monthly income to investments like midcap funds. Over time, this habit can:
- Offset loan interest costs via compound growth.
- Build emergency reserves to avoid future debt.
- Generate wealth through 18% CAGR (Compounded Annual Growth Rate).
Example: Investing ₹1,000/month for 40 years at 18% CAGR grows to ₹5.5 crore by age 60.
FAQs
Q: Is it possible to get a loan using an HDFC credit card?
A: Yes, via Insta Loan, Jumbo Loan, or Cash on Credit Card. Limits depend on your card’s available credit.
Q: How to check HDFC credit card loan eligibility?
A: Log in to the HDFC app or website. Eligibility is auto-assessed based on your card usage and repayment history.
Q: What is the HDFC Jumbo Loan eligibility?
A: Minimum ₹10,000 transaction value and a good CIBIL score (700+). No FD required.
Q: How to apply for an HDFC loan against credit card online?
A: Use the HDFC mobile app to apply instantly. Visit [HDFC Personal Loan](https://www.hdfcbank.com) for details.
Q: What is the HDFC loan on credit card interest rate?
A: Rates range from 15–30% p.a., depending on loan type and tenure.
Q: Can I foreclose an HDFC loan on credit card early?
A: Yes, but HDFC charges 5% prepayment penalty if done within 6 months of disbursal.
Final Thoughts
An HDFC loan against credit card is a quick solution for urgent needs, but high interest rates demand cautious borrowing. Always compare alternatives like gold loans or P2P lending. Pair your loan strategy with disciplined investing—start with 1% of your income—to build wealth over time.
About the Author
I’m Om Prakash — founder of Paisagyaan.com, a blog focused on making financial knowledge simple, relatable, and useful for everyday Indians. My journey includes over 10 years of navigating the Indian stock market, learning the hard way about investments, debts, and real estate.
Read About the Author in detail, who lost 75 lakh rupees during 2009 to 2019 which would be 4.5 crore now in 2025.
But here’s what those losses taught me: Financial knowledge matters — deeply, so you don’t repeat my mistakes. If you’re just starting out or have already faced setbacks, this blog is for you for educational purpose and not advice.
Internal Links:
External Links:
Leave a Reply