10 HDFC Loan Schemes with Instant Approval
Loans are good when you know how to use them as a catalyst to achieve the dreams. Just like your savings & investments, your ability to borrow help you meet your life goals in time. We all have a Savings Bank Account, yet all of us may not be eligible for an Instant Loan. And many of us, who indeed are eligible for an instant credit facility, do not know about the availability of the same.
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Here in this article we are going to list out 10 Instant Loan schemes you are eligible for as an HDFC Bank Customer. Whether you have an HDFC Savings Account or a Salary Account or an HDFC Credit Card you can access these options right from your mobile phone or laptop.
HDFC is the leading private sector bank of the country and ensures 24X7 credit application process through its online API integrations with omni-channel lending platforms. Without a further adieu, let’s learn about the most popular 10 Instant Loan products from HDFC Bank.
1. Instant Personal Loan
Being an HDFC Customer you can Apply for Instant Personal Loan Online and get the disbursal within 10 minutes. If you are a non-HDFC customer it will take up to x4 hours to process your request.
So anyone who needs urgent funds can use Personal Loan Eligibility Calculator and know about the amount preapproved by bank for their profile. There is no hassle of documents as the loan can be availed based on video KYC using Aadhar & PAN details. All you need is a stable internet connect and device to support the interface.
Like other HDFC Personal Loans, you can avail of additional insurance through Sarv Suraksha Pro. This can include 3 covers, loan insurance for amount equal to outstanding balance, personal accident cover up to Rs 8 Lakhs, and critical illness cover of up to Rs 1 Lakh from HDFC Ergo GIC Ltd.
The rate of interest is competitive and starts from 10.99% p.a.
2. Instant loan On Credit Card
Whether you hold a basic HDFC Credit Card or a premium counterpart, you can apply for two of the best Instant Loans from HDFC. These are one of its kind products from HDFC Bank. These are fast, affordable and hassle free.
HDFC Insta Loan is one of the most popular instant credit products. As an HDFC Credit Card customer you are pre-approved for a loan within the limit against your card. No documentation is required to access this facility. The amount can be repaid from 12 to 48 months. You can assess the size of EMIs with Credit Card Loan EMI Calculator. This is ideal for small cash needs. The amount is disbursed within seconds and will block your credit limit.
HDFC Jumbo Loan:
In case you need more amount than the approved limit against your Credit Card, Apply for HDFC Insta Jumbo Loan. This facility does not block your card limit.
Available at attractive interest rates for 12 to 60 months, HDFC Jumbo Loan is one of the most convenient and hassle free ways to tackle your urgent cash shortages. For this loan, a new card is issued and you will get a separate monthly statement each month. The account is linked to your Savings Account and amount is debited automatically on due date. You can borrow Rs 30000 to Rs 10 Lakh instantly through HDFC Jumbo Loan. The processing fee is also nominal at Rs 999 + GST.
Your HDFC Credit Card bundles multiple credit facilities. You can always convert your big-ticket card purchases in easy instalments by a click of a button. The payments can be made in easy instalments along with your monthly card statements. The rate of interest is attractive and will vary as per the variant of card you own.
Balance Transfer on EMI:
Another instant credit facility is transferring your outstanding balance on Credit Card by opting for a new HDFC Credit Card and applying for a balance transfer on EMI. The best part is it is one of the fastest ways to reduce your high EMIs into lowers ones.
a) Flexi PAY
Flexi Pay is first-of-its-kind loan for small cash lapses wherein you borrow at 15 day free interest period, without any additional charge. You can repay the loan with in 15 to 90 days. The facility can be used instantly while shopping online or offline. The facility is available for Rs 2000 to Rs 60000 to only pre-approved Current Account and Savings Account HDFC customers.
You can opt for 15, 30, 60 or 90 day tenure. Interest only payment is debited from account on due date. The principal amount is recovered on last instalment date.
There is zero convenience fee, processing fee, or any other charge.
4. Salary Plus
The facility of Salary Plus is a great retreat for HDFC Salary Account Holders. You can avail up to three times your salary credit instantly. Available as overdraft facility, you only need to pay interest for the loan tenure. Thus Salary Plus offers a great backup to walk through uncharted waters with respect and self esteem. You can repay within 12 months. There is no prepayment charge applied for this facility.
5. Gold Loan
Gold Loan is one of the best loans for anyone who has idle gold jewellery or ornaments. You get option to avail instant credit facility against gold as a term loan, overdraft facility or bullet repayment loan. Thus, you enjoy maximum flexibility with Gold Loan. The amount is disbursed the same day after verification of the authenticity of the metal. The Rate of Interest for Gold Loan starts at 9.90 % p.a. Recently the government has increased the LTV for Gold Loan from 75% to 90% till March 2021 for banks. Thus you can avail maximum value from Gold Loan as we have seen historical spike in gold prices as well.
6. Loan Against Securities
The Loan Against Securities is one of the easy financing options for those who are financially prudent investors. While facing some unprecedented cash crunch you need not disrupt your investment portfolio. You can apply for loan amount up to 80% of the value of securities. The facility can be availed as an overdraft or a term facility. You can apply through net banking and enjoy maximum flexibility.
7. Digital Loan Against Mutual Funds
You can also choose to apply against your Mutual Funds Portfolio for instant money. The loan can be availed online. There is no EMI repayment. You can pay flexibly at your own pace.
8. Loan Against Rental Receivables
Another Secured Loan scheme from HDFC Bank is Loan against Rental Receivables. You can borrow up to 50% LTV of commercial property as loan against rental receivables. You do not require any document for this facility. The bank promises fast disbursal with doorstep facility. This Property Loan is available for a modest tenor of 12 to 108 months.
9. Loan Against Property
HDFC Bank offers 60% of the value of residential or commercial property as a Loan Against Property. The best part is the amount can be borrowed as an overdraft or an EMI-based Term Loan.
10. Loan Against Car
Opting for Secured Loan ensures that you get an affordable loan without disrupting your monthly budget. You can avail of p to 150% of the original value of the car from HDFC Bank as a loan against car. The rate of interest can be up to 2 % lower than Personal Loan.
All in all, HDFC Bank has a suit of loans, designed to cater to maximum customer base. You can choose the most suitable offer as per your needs and eligibility.
To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. We have served 4 million+ happy customers since 1989.
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