Loans

Best Credit Card Loan with Lowest Interest Rate 2021

Top Best Credit Card Loan with Lowest Interest Rate in 2021 – 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.

Features of the Credit Card Loan

  1. Pre-approved loan and not for all the users. Eligible loan amount depends on your credit limit and other internal policies of the bank.
  2. Customers are informed about their eligibility via SMS. 
  3.  No additional documents are needed
  4. Up to 36 months 
  5. Processing charges are NIL to 3% of the loan amount (based on the lender’s terms and conditions)
  6. 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
  7. There is no CIBIL or Credit Rating requirement of taking a loan.

Credit Card Loan with Lowest Interest Rate in 2021

Credit CardsInterest Rate*Processing Fees
SBI Cards13-14%2%
Yes Bank Cards13-14%0.50%
Citi Bank Cards16%2%
HDFC Cards20 – 21%2% or Rs 999
RBL Cards20%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.

SBI Credit Card Loan

SBI Credit Card is providing the best credit card loan with excellent services. The pre approved credit card loan are offered to the slected 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

Yes Bank Credit Card Loan

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 Cad 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 Credit Card Loan

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 Cad 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 Credit Card Loan

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 slected 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 Cad 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 Cad 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

Should You Take a Credit Card Loan ?

It is entirely an Individual decision based on the financial needs. But the credit card loan 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

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