| Bank Name | Maximum Loan Amount |
|---|
| Bank Name | Min Interest Rate | Processing Fee | Foreclosure Charge | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
HDFC Bank Ltd
|
13.00% | 2% | 2% | 12 |
|
|
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ICICI Bank Ltd.
|
13.50% | 2% | 3% | 12 |
|
|
Indusind Bank
|
15.00% | 2% | 3% | 12 |
|
|
Kotak Mahindra Bank
|
13.00% | 2% | 3% | 12 |
|
|
Axis Bank Ltd.
|
13.00% | 2% | 3% | 12 |
|
|
Neogrowth
|
16.00% | 2% | 3% | 12 |
|
|
Fulfill your urgent financial requirement by availing loan against credit card, it offer a wide range of benefits in terms of low interest rates, flexible tenure, low processing fee & easy method of repay of EMI as well as principal amount.
Loan against credit card Eligibility CriteriaEligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.
Eligibility Criteria for Self-Employed Individuals
Note: - It would range from minimum 50,000 to maximum 5 Lakh
What are the factors generally affecting Loan against credit card Eligibility Criteria?There are top factors that generally affects Eligibility Criteria as given below: -
Past Credit History: - You need to ensure whether all your past credit history transaction is taking place properly or not, because its much-considered point while reviewing your application & effect.
Age of Applicant: - According to age eligibility to get loan, below the age of 22 & after the age of 60, you couldn’t be able to get the loan as the repayment capacity seems to be lower.
What are the ways to increase loan against credit card eligibility?To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Repay debt earlier: - This is one of the best ways to increase eligibility by making earlier loan clear-up, your debt-to-income ratio increases as well as capability to pay for new loan is affordable.
Never exhaust credit card limit: - Usually, lender want to know credit card management behavior, always try to utilize only 30% - 40% credit card limit as it will improve your eligibility to avail loan against credit card.
PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP
PHOTOGRAPH PARTNERS
PAN CARD - COMPANY, ALL PARTNERS
ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.
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If you are looking to discount your credit card receipt, visit nearest bank branch & request for application to fill up with attaching all relevant documents & submit it to get discounted..
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Usually, Lender impose an fee for processing loan applications which would be 0.50% - 2.50% of total loan amount vary from banks to banks.
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There are various factors that determine maximum loan amount, in case-to-case things get varied.
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This type of credit facility allows you to get quick access to cash,
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To know your eligibility, you need to check the common eligibility criteria of Loan Against Credit Card Receipt: -
CA Vikas Jain - Our Mentor
9863-02-02-02