What is the meaning of Insta loan?

What is Insta loan in HDFC Bank?

HDFC Bank Insta Loans are pre-approved loans that can be availed by HDFC Bank Credit Card holders. This loan is approved against the credit limit of the HDFC Bank Credit Card holder. So, the credit limit gets reduced by the amount of the loan availed. Also the cash limit on the card becomes zero.

How do I pay my insta loan?

After the closing the loan, get a NOC from the bank. The bank does not allow you make part-prepayment on Insta Loan. The EMI is paid along with your credit card bill each month. You need to call up the customer care to make the request to pre-close the loan.

Can we foreclose Insta loan from HDFC?

Prepayment of HDFC Insta Loan

In a loan prepayment, you need to pay the outstanding balance amount in full before the maturity of the HDFC Insta Loan. For the pre-closure of the Insta Loan, HDFC Bank charges a prepayment fee of 3% of your outstanding balance which you have to pay along with prepayment amount.

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How can I pay my insta loan in HDFC?

Make your payments to HDFC Bank Overdue Loan payment in 3 simple steps. Enter your HDFC Bank overdueLoan account number and Date of Birth. Select your net banker from drop-down and click on PAY. You will be securely redirected to the bank payment interface of your chosen net banking option.

What is insta loan and jumbo loan?

Categories:Personal Loans. HDFC Insta Jumbo Loan is a pre-approved loan available to HDFC Credit Card customers. In other words, it is a credit limit set for the cardholder that is higher than their current credit limit. This money is deposited into their HDFC savings account in one lump sum.

How does HDFC Insta loan work?

The key features of HDFC Insta Loan are: This is a pre-approved loan which will be instantly credited to your HDFC Savings Bank Account. For customers who do not have an HDFC Savings Bank Account, the loan will be disbursed vide Demand Draft in the name of the applicant as per HDFC Credit Card Records.

Can we pre close Insta jumbo loan from HDFC?

Yes, you can pre-close your HDFC Insta Jumbo Loan at any given point of time. Please note that you will be charged a prepayment charge of 3%. This will be on the balance principal outstanding.

How can I pay EMI of Insta jumbo loan in HDFC?

How to Make HDFC Loan Payment Online at Paytm?

  1. Go to HDFC loan payment page on Paytm.
  2. Enter your Loan Account Number.
  3. Click on ‘Get Payable Amount’
  4. Check the payable amount and choose the payment method of your preference Proceed to make the payment.
  5. You are done with it.
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How can I track my jumbo loan in HDFC?

Login to NetBanking, Click Cards > Credit Cards > Transact > Insta Jumbo Loan. Visit www.hdfcbank.com/faq to know more.

How do I close a jumbo loan?

What to do:

  1. Visit bank with the complete set of documents (as mentioned above).
  2. You may be required to fill a form or write a letter requesting pre-closure of the Personal Loan account.
  3. Pay the pre-closure amount.
  4. Sign the required documents, if any.
  5. Take acknowledgement of the balance amount you have paid.

How can I pay all EMI in HDFC credit card?

Visit the loan officer at your nearest HDFC bank branch. Enquire the current balance in your loan account. The loan officer will also intimate you of any pre-closure charges or penalties. Pay the entire balance amount (sum of all pending EMIs + preclosure charges, if any) using a cheque or DD.