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Loan Against Credit Card Receipt @ 13.00% Onwards

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• Minimal documentation
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Loan Against Credit Card Receipt
Bank Name Interest Rate Range (%) Processing Fees Maximum Tenure Foreclosure Charge Card Swapping charge
HDFC Bank Ltd
13.00%
2%
12
2
025%
ICICI Bank Ltd.
13.50%
2%
12
3
0.25
IndusInd Bank
15.00%
2%
12
3
0.25
Kotak Mahindra Bank
13.00%
2%
12
3
0.25
Axis Bank Ltd.
13.00%
2%
12
3
0.25
16.00%
2%
12
3
0.25
Bank Name Min Interest Rate
HDFC Bank Ltd

13.00%

ICICI Bank Ltd.

13.50%

IndusInd Bank

15.00%

Kotak Mahindra Bank

13.00%

Axis Bank Ltd.

13.00%

16.00%

₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by Loan against credit card Eligibility Criteria?

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 Criteria

Eligibility 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

  • • Age Limit in between 22 to 60 years
  • • Strong credit history
  • • Applicant must have good record of credit card usage

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.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST Return last 1 years
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  14. Agreement To Sell copy
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
  3. ADDRESS PROOF – COMPANY AND DIRECTORS.
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM
  6. ORDER IN HAND AND COMPLETE COPY (if applicable)
  7. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  8. 1 YEAR GST RETURNS
  9. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  10. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  14. AGREEMENT TO SELL COPY
  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

How does loan against credit card receipt works?

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..

How much processing fee will be charged for loan against credit card receipt?

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.

What will be the maximum loan amount for loan against credit card receipt?

There are various factors that determine maximum loan amount, in case-to-case things get varied.

What are the mandatory documents required?

  • 2 Passport sized photographs
  • Latest 1 year Bank Statement
  • Identity proof & address proof
  • Credit card valid receipt

What is loan against credit card receipt?

This type of credit facility allows you to get quick access to cash,

What are the benefits of loan against credit card receipt?

  • Get instant cash withdrawal
  • Minimal documentation
  • Quick processing

Who are eligible for loan against credit card receipt?

To know your eligibility, you need to check the common eligibility criteria of loan against credit card receipt: -

  • Applicant must have a good record of credit card usage
  • No loan default from any banks or financial institutions
  • Age limit should be 22 – 60 years
  • You must be resident of Indian

Related Topics

  • LOAN AGIANST CREDIT CARD RECEIPT BY BANKS

  • LOAN AGAINST CREDIT CARD RECEIPT BLOGS

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CA Vikas Jain - Chief Advisor

Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

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