Best Low Interest Credit Card Loan in India – Get the list of Credit Cards which are offering the loan with lowest interest rate in India for year 2024. The credit card loans offered are completely digital and hassle free. Check out the best Credit Card loan offering with processing charges by Federal Bank, Bank of Baroda Cards, SBI, HDFC Cards, Citi Rewards or IndusInd Credit Card with Rate of interest as low as 13% and 0% processing fees.
Get the best credit card offered with lowest Interest on Card Loan. There are many Credit Cards which are offering the loan against the Unutilized limit for a period up to 36 months. The Interest rate offered on the Credit Card Loan is fixed or reducing along with the processing charges.
Loan on credit card can be considered as a type of personal loan offered against your credit card. Getting a Credit Card loan is generally hassle free and easy as compare to normal banking loan like Personal loan or mortgage loans. There are few credit card companies which are offering the best of the Credit Cards with lowest interest rate on Credit Card loan.
Also Read – Top Best Credit Cards for EMI in India For 2024
Topics : -
- 1 Features of the Credit Card Loan
- 2 Best Low Interest Credit Card Loan with Lowest Interest Rate in 2024
- 3 Loan on SBI Credit Card
- 4 Benefits & Features of SBI Card Loan
- 5 Loan on Yes Bank Credit Card
- 6 Benefits & Features of Yes Bank Card Loan
- 7 Citi Bank Loan on Credit Card
- 8 Benefits & Features of Citi Bank Card Loan
- 9 HDFC Bank Loan on Credit Card
- 10 Benefits & Features of HDFC Bank Card Loan
- 11 RBL Bank Credit Card Loan
- 12 Benefits & Features of RBL Bank Card Loan
- 13 Should You Take a Credit Card Loan ?
Features of the Credit Card Loan
- Pre-approved loan and not for all the users. Eligible loan amount depends on your credit limit and other internal policies of the bank.
- Customers are informed about their eligibility via SMS.
- No additional documents are needed
- Up to 36 months
- Processing charges are NIL to 3% of the loan amount (based on the lender’s terms and conditions)
- The disbursement is almost quick or within 24 hours if you have savings account in the same bank 5-7 business days (or higher) in case of NEFT or Demand Draft
- There is no CIBIL or Credit Rating requirement of taking a loan.
Best Low Interest Credit Card Loan with Lowest Interest Rate in 2024
| Credit Cards | Interest Rate* | Processing Fees |
| SBI Cards | 13-14% | 2% |
| Yes Bank Cards | 13-14% | 0.50% |
| Citi Bank Cards | 16% | 2% |
| HDFC Cards | 20 – 21% | 2% or Rs 999 |
| RBL Cards | 20% | 3% |
*Please note that the interest rates mentioned above are subject to change at the bank’s sole discretion. The Interest rate are excluding the GST.
Loan on SBI Credit Card
SBI Credit Card is providing the best credit card loan with excellent services. The pre approved credit card loan are offered to the selected list of the users with the cheapest interest rate of 13-14%. The processing fee is charged on the credit card loan is 2% and loan can be closed any time with pre closure charges of 3% of outstanding amount.
Benefits & Features of SBI Card Loan
Interest Rate – 13% to 14% Per Year
Mode of Loan – Through SBI Card app or website or customer care
Disbursement – Immediate to the bank account of any bank
Pre Closure permitted – Yes with 3% charges on outstanding amount
How to Avail – Check the SMS or Mail
Loan on Yes Bank Credit Card
Yes Bank Credit Card loan are cheapest as far as the other cards are compared. The pre approved credit card loan are offered to the slected list of the card holders with the interest rate of 13-14%. The processing fee is charged on the credit card loan is 0.5% to 2% and loan can be closed any time with pre closure charges of 3% of outstanding amount.
Benefits & Features of Yes Bank Card Loan
Interest Rate – 13% to 14% Per Year
Mode of Loan – Through Yes Bank App or website or customer care
Disbursement – Immediate to the bank account with any bank
Pre Closure permitted – Yes with 3% charges on outstanding amount
How to Avail – Check the SMS or Mail or app
Citi Bank Loan on Credit Card
Citi Bank Credit Card loan can be offered to multiple time with the existing loan. Though the loan amount offered is maximum of 50% of the Credit Limit. The pre approved credit card loan are offered to the selected list of the card holders with the interest rate of 16%. The processing fee is charged on the credit card loan is 2% and loan can be closed any time with pre closure charges of 3% of outstanding amount.
Benefits & Features of Citi Bank Card Loan
Interest Rate – 16% Per Year
Mode of Loan – Through Citi Bank App or website or customer care
Disbursement – Immediate to the bank account with any bank
Pre Closure permitted – Yes, with 3% charges on outstanding amount
How to Avail – Check the SMS or Mail or app
HDFC Bank Loan on Credit Card
HDFC Bank Credit Card loans are comparatively provided with the higher rate of the interest but quicker in disbursement. Many a time they are refunding the processing charges. The loan amount offered by the bank is higher but within the Credit Limit. The pre approved credit card loan are offered to the selected list of the card holders with the interest rate of 20% and more. The processing fee is charged on the credit card loan is flat 999 or 2% and loan can be closed any time with pre closure charges of 3% of outstanding amount.
They are having an Insta Loan or Insta Jumbo Loan, where the Limit is beyond the credit card limit.
Benefits & Features of HDFC Bank Card Loan
Interest Rate – 20% Per Year
Mode of Loan – Through Citi Bank App or website or customer care
Disbursement – Immediate to the bank account with any bank
Pre Closure permitted – Yes, with 3% charges on outstanding amount
How to Avail – Check the SMS or Mail or app
RBL Bank Credit Card Loan
RBL Bank Credit Card loans are also having the higher rate of the interest. The pre approved credit card loan are offered to the selected list of the card holders with the interest rate of 20% and more. The processing fee is charged on the credit card loan is 2% and loan can be closed any time with pre closure charges of 3% of outstanding amount. The experience with the RBL bank is not very satisfactory and having a poor customer services.
Benefits & Features of RBL Bank Card Loan
Interest Rate – 20% Per Year
Mode of Loan – Through Citi Bank App or website or customer care
Disbursement – Immediate to the bank account with any bank
Pre Closure permitted – Yes, with 3% charges on outstanding amount
How to Avail – Check the SMS or Mail or app
Know more about Lowest Credit Cards Interest Rate in India – 2022
Should You Take a Credit Card Loan ?
It is entirely an Individual decision based on the financial needs. But the loan on credit card should be the last option because it is costly and may put you in further debt. It is good for those who needs it for shorter period and not eligible for the banking loan.
- If your Credit Rating or CIBIL score is not good and you need money urgently
- When you need a smaller loan immediately for shorter period
- When you are not eligible for a personal loan
[…] Also Read – Best Low Interest Credit Card Loan in India 2024 […]
Axis Bank, RBL and HDFC are now having higher ROI with average rate of 19% with 3-4% Processing fees. Better to go with Wallet to account option through payment apps like MobiKwik or PayTm
American Express, Canara Bank, Federal Bank and Bank of Baroda Credit Cards are good choice for EMI conversion. They are having best ROI along with easier processing fees on pocket.
Don’t Go with Axis Bank, Citibank, HDFC Bank Credit Card EMI or Loan. They have changed the process and charging average ROI of 18-19%. HDFC Credit Card EMI conversion is even going to 21% ROI in many cases.