HDFC Insta Jumbo Loan - Instant Loan against HDFC Credit Card

The key features of HDFC jumbo loan are mentioned below:

• Loan amount: You can get a loan amount above the credit limit of your HDFC Bank Credit Card.
• Processing fee: A loan processing fee of up Rs. 999 + GST is applicable.
• Interest rate: HDFC jumbo loan interest rate varies from 11.04% - 21.96% p.a.
• Repayment tenure: The loan can be repaid easily in tenure ranging from 12 months to 60 months as per your convenience.
• Lowest EMI possible: The lowest EMI possible is Rs. 2,176 Per Lakh.
• Interest calculation: For the first EMI, the interest is calculated from the booking date of loan till the payment due date. The interest for the remaining EMIs will be as per the statement cycle.
• Eligibility: Only selected cardholders will be provided the HDFC Insta Jumbo loan facility.

Note: The new feature of Video KYC facility for personal loan and saving accounts is helping customers to verify their identity digitally.

• Instant disbursement to your HDFC Bank Saving account. 
• HDFC Bank Savings Account holders can get multiple loans on their credit cards. Non- HDFC Bank Savings Account holders can avail only 2 Insta Jumbo Loans at any point of time.
• Get loan upto ₹10 Lakhs with a tenure of up to 60 months, secured with insurance against unforeseen accidental death. The insurance covers the outstanding principal liability, ensuring peace of mind for you and your loved ones.
• Loan amount is not blocked from your credit limit under HDFC Insta Jumbo loan.
• You can calculate EMIs with HDFC’s Credit Card Loan EMI Calculator.
• No documents are required to avail this loan on Credit Card.

Note: Also, know about the HDFC Bank Mini Statement Number service.

You can easily calculate HDFC Insta Jumbo Loan EMI online using our EMI Calculator. The uses a few details, i.e. the Loan Amount, Rate of Interest, and Tenure, to calculate the EMI. After filling in these three loan parameters, click the Enter button to get an instant result. 

Apart from calculating the EMI, this Calculator also displays the complete amortization schedule for your loan repayment.

Here’s an example:

Loan amount required: Rs. 5 Lakhs

Applicable interest rate: 11.04% p.a.

Tenure of repayment: 5 years

EMI to be paid each month: Rs. 10,881

Total interest to be paid: Rs. 1,52,871

Total amount to be paid to the bank: Rs. 6,52,871 (interest + principal amount).

Amortization schedule of the above example:

No documentation is required for HDFC Jumbo Loan as it is a pre-approved loan offer for select HDFC Bank customers. The bank already has documents of their existing customers, so you are not required to furnish any documents to avail of this loan.

Tip: Check Free CIBIL Score before applying for a loan

You may be eligible for the HDFC Insta Jumbo Loan if:

• You are an HDFC Bank Credit Card holder with an active HDFC Bank savings account.
• Eligibility can be checked via Net Banking, Phone Banking, or by contacting a sales officer through your registered mobile number.
• HDFC Bank may also notify eligible customers via SMS on their registered mobile number. 

Only select HDFC Bank Credit Card holders are eligible for this loan. Eligibility is determined solely by HDFC Bank as per its internal policies and guidelines

You can check the eligibility for the Insta Jumbo Loan by following ways.

Net banking

• Login to HDFC Net banking and choose the 'Cards' option.
• Navigate to Credit Cards, proceed to 'Transact' and then to 'Insta Jumbo Loan.
• Mention your Credit Card details and your pre-approved loan limit will be available on the screen.
• You can also call HDFC Credit Card helpline to get the loan details.
• If you are eligible for the loan and have not registered for DND/NDND/DNC an executive of HDFC Bank will give you a call and explain the loan details. The information regarding the loan amount, interest rate, and the other loan details will be given and you can immediately book for the loan since no documentation is required.
• If you are eligible for the loan and have not registered for DND/NDND/DNC you will get an SMS on your registered mobile number regarding the loan amount, interest rates, and the other loan details. If you are interested in availing the loan and accept the terms & conditions listed on their website, you can send the short code mentioned in the SMS.
• CIBIL score is also a major factor in loan approval process, so always remember to check CIBIL score by pan card before applying for a loan.

Apply instantly using the direct link.

• Click "Apply Now" to be redirected to the HDFC Jumbo Loan page.
• Enter your mobile number and the last 4 digits of your credit card.
• Click "View loan eligibility" to Check your pre-approved loan amount if eligible.

Along with rate of interest, the HDFC Insta Jumbo Loan comes with the following fees and charges:

• Processing fee: Up to Rs. 999 + GST. 
• Penal interest on skipping the payment due date: 2% on payment amount, minimum Rs. 300.
• Penalty on non/partial payment of EMI outstanding: Rs. 500 + GST. 
• Foreclosure charges: 3% of the balance principal outstanding + GST.

Additional info: Check Loan Against Fixed Deposit in detail.

• Click on the View loan eligibility button on this page and it will redirect you to the HDFC card page.
• Enter your Mobile number & last 4 digit of HDFC credit card.
• Give your consent and submit.
• You will receive OTP message, enter OTP and view your offer amount (only for pre approved customer).  

You can also call HDFC Jumbo Loan customer care number to ask if you are eligible for the loan.

EMI for the Insta Jumbo Loan is billed to a virtual Jumbo Loan Account Number (AAN). This AAN is communicated by HDFC to you via SMS, email, and the amortization schedule once the loan is successfully booked. EMI will be reflected in your monthly Jumbo Loan account statement, starting from the immediate billing cycle date. It is mandatory to pay the EMI in full towards the Jumbo Loan Account Number.

Modes of Repayment:

For Customers with an HDFC Bank Savings Account:

Autopay Facility:

• EMI payment will be automatically debited from your HDFC Bank Saving account via Autopay.
• Ensure that sufficient funds are maintained in your savings account to avoid any payment failures.

For Customers Without an HDFC Bank Savings Account:

If you do not have a savings account with HDFC Bank, you can make payments towards the Jumbo Loan Account Number (AAN) using the following methods.

Demand Draft:

Prepare a Demand Draft with the Jumbo Loan Account Number (AAN) as the beneficiary.

Deposit the Demand Draft at any HDFC Bank branch.

NEFT/RTGS:

You can make direct payments from other bank accounts by adding the Jumbo Loan Account Number (AAN) as the beneficiary. Below are the required details for NEFT/RTGS payments:

Beneficiary Bank Name: HDFC Bank Limited

Beneficiary Name: [Your Name]

Beneficiary Account Number: Jumbo Loan Account Number (AAN)

Remarks/Description: Payment for month (mm/yyyy)

IFSC Code: HDFC0000128

HDFC Bank Location: Bank House

HDFC Bank Branch Address: 8, L.B Road, Thiruvanmiyur, Chennai - 600041

Note: It may take 1-2 days for the payment to be credited to your Jumbo Loan account, depending on the participating bank's processing time.

You can reach HDFC Jumbo Loan customer care for any queries regarding the loan through call, email, post, or branch visit. The link for all these contact details is given below:

https://www.hdfcbank.com/personal/need-help/contact-us#.