Insta Loan Vs Insta Jumbo loan Vs SmartEMI on HDFC Credit Card

By | November 22, 2015

With the introduction of Insta Loan and other products, taking a quick loan on your Hdfc Credit Card is damn easy. Hdfc has made the approval process super simple that if you have a pre-qualified offer, you can get the loan amount into your account in matter of minutes, no documentation required. There are different variants of loan. Let me explain them in detail as bank doesn’t make it clear for obvious reasons.

hdfc_insta_loan

HDFC Insta Loan – Fastest way to get Loan on your Credit Card

HDFC Insta Loan:

If eligible, you can get Insta Loan (aka Cash on Call) on your credit card in matter of minutes through net banking. The given loan amount will be blocked against your credit limit and you can pay the loan in flexible tenures as EMI.
Things to note:
1. Credit limit gets reduced
2. Service tax is applicable on the interest you pay, which is a part of your EMI.
3. Can be availed only twice at a time

HDFC Insta Jumbo loan:

Similar to insta loan but your credit limit doesn’t get blocked in this case. Another major difference that Hdfc is hiding away for some reason is that you DONT need to pay service tax on interest in case of jumbo loan. This info gets buried somewhere on website and even Customer care guys wont tell you unless you figure it out yourself.

But this difference saves you a huge money. It takes upto 1 working day to process this loan and also this will be billed separately and not on your credit card statement.

As far as i can understand, Insta Jumbo Loan is a kind of “Personal Loan” given to you on basis of credit card usage. because, only in personal loan, service tax is not included.

Things to note:
1. Credit limit unaffected
2. No service tax on the interest.
3. Can be availed only once at a time

HDFC Smart EMI on Credit Card:

You can convert your credit card expenses into EMI. Process is quick and easy through net banking.
Things to note:
1. Service tax applicable on interest
2. Can be availed multiple times
3. Available most of the time

insta_loan_and_jumbo_loan

My Review on HDFC Insta Loan:

insta_loan_in_60_minutesSo you would ask, which one should I go for?! INSTA JUMBO LOAN is the best ever loan you can avail on your Hdfc bank credit card. Because it doesn’t reduce your limit and you don’t need to pay service tax. You can also choose smart EMI or insta loan based on your spending type as both has similar interest and you have to pay service tax on interest in both.

At times, Hdfc runs offers wherein you can get loan @ 11.88% (annually) with processing fee waived off. It’s super cheap and you can never get such interest rates on planet earth with unsecured loans. My dad was once lucky enough to get Insta Loan for 50k INR during the offer period. His credit limit was 1L at that time.

Check your net banking once in a while to see if there are any offers on your credit card. Sadly Hdfc will not inform you when the offer is available. Maybe its sells like a hot cake without any promotions 😀

HDFC Insta Loan Interest rates:

HDFC has the lowest interest rates in the market on credit card loan/EMI than any other bank. It usually varies around ~13% annually sometimes they do run offers for 11.88% annually (0.99% monthly) as mentioned earlier. However, pre-closure charges of 3% does apply.

Eligibility for HDFC Credit Card Insta Loan:

Apart from the interest rates, note that the eligible loan amount varies from customer to customer and depends on Hdfc internal policies. I’ve spent a lot on my credit card but I never got any loan offers. But my dad spends too less on his credit card but got a good offer and he availed. Though we both have different cards with same credit limit. Looks like the card variant and the customer profile matters to bank.

Have you availed any Credit card loans earlier? Share your comments below 🙂

98 thoughts on “Insta Loan Vs Insta Jumbo loan Vs SmartEMI on HDFC Credit Card

  1. naveenahc

    I have credit limit of 30K and outstanding is 24456 and I have taken instant loan of 14000 and am paying it on time evry month and now am ready to pay my full outstanding amount in single shot .

    Please suggest will I get jumbo loan after clearing of all outstanding amount and how much loan I will get in jumbo loan.

    Please suggest

    Reply
    1. Siddharth Post author

      Naveen, there is a pre-closure charge. Do the math for your outstanding if its better to pre-close the loan or not. You can expect Insta Jumbo loan eligibility if you have salary a/c with HDFC or have the card for longer duration.

      Reply
      1. Gaurav

        Hi I have credit card last yr I have a offer for jumbo loan but now a days there is no offer what should I do for that please let me know soon..

        Reply
        1. Siddharth Post author

          Gaurav,
          They keep changing the offers every month and customers have no control on it. You simply have to wait and watch.

          Reply
  2. haritha

    I have hdfc money back credit card. I would like to know interest rate if i didn’t pay bill on time

    Reply
    1. Siddharth Post author

      Its 3.40% (it varies though but too high interest rates). Rather convert it into EMI

      Reply
  3. Renuka Sasikumar

    Hi,

    I have a HDFC Salary account & also Titanium edge credit card. I would like to avail for Insta Jumbo Loan, but for me its showing not eligible for it.

    Can u pls tell me how to avail it.

    Reply
    1. Siddharth Post author

      The Jumbo loan offer will be available from time to time and its usually given to older cards. My 1 yr old Card still never got this Jumbo loan offer inspite of good usage. So you need to check every month. Else, just go for “insta loan”

      Reply
  4. B.R.Vikram Krishnan

    Hi Siddharth,

    Your information on HDFC CC loans was fabulous and I have Times Card with 1000 reward points can I get cash back with my reward points ??

    Reply
    1. Siddharth Post author

      Vikram,
      Thanks for your kind words, no, i dont think you can do it. Cashback option is avail only on cashback cards. Most popular cashback card of HDFC is “Moneyback Credit Card”. You can probably upgrade if required and then redeem for cash 🙂

      Reply
  5. Mohammed tousif

    Wat is the payment process for jumbo loan should I do the payment for credit card itself or I have a separate option for paying the loan emi

    Reply
    1. Siddharth Post author

      They auto debit from your savings account for “jumbo loan”. You need to maintain the balance in your linked savings account for the same.

      Reply
  6. Sakera ashra

    Thank you Siddharth your information about hdfc bank credit cards is very helpful
    Recently i got an option to upgrade my women’s solitaire card to visa sig money back card or visa sig all miles card… usually i dont travel much but i am a shoppingfreak online and offline both….
    Please do let me know which card would be better for me … thanks in advance

    Reply
    1. Siddharth Post author

      HDFC Visa Signature Allmiles is good for such combination of Online/offline usage. You save around 1.5% as points on all spends.

      Reply
  7. GANESH N

    Dear siddharth,
    i have taken hdfc credit card recently(15days). and i have purchased around 9000 worth things now and then. my bill generating date is 13th this month. now im planning to convert this 9000 as emi’s. but net banking saying that im not eligible to convert it to emi’s. how long i suppose to wait to avail that option.

    Reply
    1. Siddharth Post author

      Ganesh,
      EMI offer on HDFC Cards is not a standard feature and will keep changing every month.
      So you got to check every month before you charge on the card.

      Reply
  8. Tejas shetty

    hi siddarth ,

    I have offer for insta loan from hdfc bank on my HDFC times titanium card for 74000/- @11.88p.a. How sure i can be regarding the offer stands same as per provided by call center person and if it does not then can i cancel the offer availed.

    Reply
    1. Siddharth Post author

      If you see this 11.88% offer on your a/c and if you’re in need of cash. Just go for it immediately. These are short term offers. This interest rate is the lowest in the country as i’ve already mentioned.

      Reply
  9. Renuka

    If I avail Insta Jumbo Loan, am I eligible for Insta Loan?

    Reply
    1. Siddharth Post author

      Yes, you are, but depends on the availability of the offer on your card.

      Reply
      1. Sudha

        Hello i need to know whether we have to have account in HDFC bank for taking the insta jumbo loan.

        Reply
  10. Thejus

    I got a call from HdFc but I dont have a hdfc credit card. Is it available also for HDFC debit cards??

    Reply
  11. Nitesh

    Hi siddharth,
    I had install loan offer till last month but this is not available right now what I should do to get it soon?

    Reply
    1. Siddharth Post author

      You cant do anything Nitesh. You simply need to wait until next refresh.

      Reply
  12. Ashni

    Hi,

    Is this loan available for new credit cards? As in I received my credit card few days back. So am I eligible for this loans??

    Reply
    1. Siddharth Post author

      Ashni,
      Check the availability from your netbanking. Its just few clicks away.

      Reply
  13. Ela

    Hi siddharth,
    I got a insta loan for 2.5lacs for 11.8%, i paid my first emi. Now i need 9 las, so i tought of going PL. Wil the bank take over the insta loan wit PL as balance transf. Or need to preclose this with PL amount. Which is best. pls advise.

    Reply
    1. Siddharth Post author

      Ela,
      Insta loan is a loan on CC.
      PL is completely different and its not that easy to get 9L generally. Its interest rate is also very high.

      Reply
  14. VIshal

    Hi,

    Thanks for the info Siddharth.

    Just want to mention I saw on HDFC website
    It is mentioned for Insta Jumbo Loan – “Monthly payment dues will include EMI and service tax on the interest amount of the EMI.”

    This might change the comparison above?

    Thanks

    Reply
  15. Suresh

    Hi Siddharth,

    I got Insta Jumbo loan from HDFC on Feb 2015. Now I would like to close it.
    Could you tell me is there any preclosing charges for Insta Jumbo loan? If so how much it is?
    Thanks.

    Reply
    1. Siddharth Post author

      Yes, I think 3%
      They keep changing policies often, Check with Customer care before you close it.

      Reply
  16. pabitra patra

    I need to instant jumbo loan very urgently basic hdfc bank plz help me bcz I am already hdfc bank savings account & credit card to limit 42k thousand.

    Reply
  17. vinay

    I have 5 Lakhs Insta Jumbo loan on my card. I have requested my card settlement. They have approved the settlement request. Please confirm what will happen to Jumbo loan.

    All due amount will get debited from my saving account in one shorts or Jumbo loan due amount will also be part of full and final card settlement amount. Please help me with your expertise.

    Reply
    1. Siddharth Post author

      Generally you have to settle all loans/dues etc if you’re planning to close the card.

      Reply
  18. Rajdev

    HI, I want to know the process of pre-closing the Insta Loan on my CC. I can’t find anything online. Do I need to visit the branch ? thnx.

    Reply
    1. Siddharth Post author

      Rajdev,
      Simply call-up customer care for the same.

      Reply
  19. Devendra bora

    Hi,
    I want to know how much time taken to credit loan amount in savings account after applying insta loan?

    I hear that the credit availibility and cash limit of the card reduced immediately
    but amount not credited in savings account immediately.

    Reply
  20. Jijo

    Hi ,
    I want to know if i fill fuel for rs.100 through hdfc money back credit card, what will happens how it will reflect in my bill

    Reply
  21. Niti

    I have hdfc moneyback credit card but I do not have a savings account with hdfc. I got my card 1 week back. Can I apply for instaloan? Thanks

    Reply
  22. punneet

    hi siddharth how r u i hold a regalia credit card with 3l limit and i have decent credit history with hdfc bank from last four years and my crd usage is very low like 2-4% of credit limit i requested bank many time to raise my limit but they always reply that your usage is so less so this month bank gave me insta loan offer for 2.5l and simultaneously also give sane amount jumbo loan offer also but i no need for funds but to show credit card usage i take 2.5l insta loan today so my question is that is this loan show usage of card to bank for consider for my limit increase.

    Reply
    1. Siddharth Post author

      But i wonder why do you need more limit when u use only 2%?

      Reply
        1. Siddharth Post author

          Loans on card would help, but more purchases in long run will definitely do.

          Reply
  23. Shankar swaroop behera

    I haven’t paid my bill which is overdue from past 3 months as I have some financial problems…. Is there any consequences apart from civil ???? Kindly suggest me some ways to pay it …it is a hdfc times titanium card….d amount is 59000…please suggest me some ways

    Reply
    1. Siddharth Post author

      Convert to EMi if possible. Else transfer to different bank card and make it as EMI there.

      Reply
  24. Shankar swaroop behera

    How can I transfer ??? I have a icici credit card ….but d limit is 20k

    Reply
    1. Siddharth Post author

      Using Balance transfer Option you can do it, but that’s a low limit on ICICI. Sadly not possible.

      Reply
  25. Shankar swaroop behera

    Okie…..what are the consequences of not paying apart from cibil ??

    Reply
    1. Siddharth Post author

      Interest charges will be high and they will send collection agency after sometime finally.

      Reply
  26. Manoranjan Pati

    I have also the same card HDFC moneyback credit card.Is there any facilities available for emi.If available then how to do.Bcz I have already called customer care.Butvthey people don’t aware of the process& told that No EMI facilities available on any HDFC credit card.Really ridiculous people sitting over customer care.

    Reply
  27. pankaj

    hi to whom customers hdfc bank offer insta jumbo loan any eligibility critiria

    Reply
  28. pankaj

    hello my credit limit on regalia card is 2.6l and yesterday bank give me insta jumbo loan offer for 2l and today when i chk in netbanking jumbo loan amount was increased with 3.25l my question is that instend of limit increase bank offer me good amount of jumbo loan and i want limit increase and they are also offer me diners black card with life time free with same limit please help me

    Reply
    1. Siddharth Post author

      For limit enhancement, you can request along with your IT papers.

      Reply
  29. uday

    hi sidarth, u hav lot of knowledge of credit card . i have hdfc allmiles cc limit is 1lac.last week i got a insta loan of 75000. but yesterday i got offr of jumbo loan 125000. bt i do .should i take jumbo loan or prepay instaloan.

    Reply
    1. Siddharth Post author

      Doing prepay will charge you 3% preclosure fee. If you need the funds and if you’re fine in paying the fee, yes you can.

      Reply
  30. Revana

    Hi, Unkonwingly failed to maintain the min balance for auto debit.
    how to pay back EMI to the loan account
    Thanks,

    Reply
    1. Siddharth Post author

      Fund the a/c for the same and ask CC guys to debit it. You might be charged some fees for this reversal.

      Reply
  31. viswa

    hi just i received the credit card of 75000/- credit limit…. the pin not yet sent is pin want to generate online with net banking but there also the card need registeration…. did i request pin through phone banking or shall i wait for pin courier?

    Reply
    1. Siddharth Post author

      Call phone banking to register your card to your a/c if not done. then you can generate OTP for pin change.

      Reply
  32. vasanth

    hi ..

    i taken 2 laks insta loan and 5 lakhs jumbo loan from hdfc….. im paying emis regularly from lost year no more dues..my query is now im planning for housing loan is this amount will minus in eligibility in my housing loan or else that is not effect….. according to that i wil plan further…..

    Reply
  33. Munee

    I have Hdfc money back card .I used in shopping 21300 ,I called customer care to convert emi ,that customer care people told me there is no emi on “money back credit card ” what I want do now?

    Reply
    1. Siddharth Post author

      only some cards have EMI option. check if you have other loans available. Else you have no other option other than paying in full.

      Reply
  34. Naresh

    I had taken Insta jumbo loan on HDFC credit card for 24 months period.But I want to close it now(6 months completed) . Can you please explain with example how much I need to pay total amount amount with 3%.

    Reply
    1. Siddharth Post author

      3% on Remaining principle. You ahve to ask bank for the exact numbers.

      Reply
  35. Bharat

    Hi, I have taken Insta Jumbo loan on HDFC CC. It was closed yesterday(paid all installments). When Can I take new Insta Jumbo loan on same card.( I already have Install on that same card).

    Reply
    1. Siddharth Post author

      Yes, possible. However depends on whether offer is available or not. Usually it will refresh after 1 month.

      Reply
  36. Harikrishna parmar

    hello i have moneyback credit card. but it show not currently valid for EMI.

    Reply
  37. Srikant

    The terms and conditions for the loan says Service Tax is applicable for Jumbo Loan. Please check.

    Reply
  38. Surya

    Dear Siddharth,

    I like your information on HDFC bank credit card. I am using HDFC Business credit card and limit is Rs.25K from last 15 months. My issues are with this card, They are NOT offering me Insta Loan, EMI, Jumbo Loan, BT, Credit enhancement etc.

    Bank denied to to give theses facilities due to low internal credit score which is around 500. They told me I have to make full payment rather than Minimum Due. I made mostly minimum due payments however all payments was in time. I am very shocked that I am paying huge interest to bank but they are not offering me facilities. I thought Bank is making money from me in the form of big interest instead of ZERO interest if paid fully on due date. Is this valid point from Bank?

    If it looks right then why bank is giving minimum due option they must must be close this facility as it looks like a HONEY TRAP. They are taking huge interest but don’t want to offer facilities like EMI.

    In past my situation was not good. I request them to covert my total due amount into EMIs but they denied. HDFC bank is only bank who don’t have EMI facility as standard with card. I have ICICI bank card with 75K limit and offered me EMIs if amount is more than Rs.3000 of any transactions. There is no requirement of any eligibility like HDFC Bank credit card. I think EMIs is not big deal for any bank if they can sanction the limit of card. It’s not new loan application. its just a adjustment with credit card billing in given credit limit. But don’t want to understand this thing.

    However HDFC bank helped me in emergency and they enhance my card limit by Rs.12000 for temporary. I really appreciate hdfc bank employee Miss NITI who helped me in this. I thanked to her.

    I am self employed and currently not using card limit of this card from 2 months. Hoping for Insta and jumbo loan offer on my card ?

    Would you please help me HDFC bank is giving Insta and Jumbo loan only to SALARIED person?
    How can I make good score with hdfc bank card. However my CIBIL score is 768 and I never missed a single payments in last 3 years.

    My credit card usage is too high due business activities. So looking for good credit limit. So I can avoid to make usage more than limit or under 70% of the limit. So please guide best possible to option.

    Thanks in advance.

    Reply
    1. Siddharth Post author

      Always, pay on Full, and use the card for Online shopping at times for EMi and other offers to be enabled on the card.

      Reply
  39. Anshhman

    Hi Siddharth. I have availed insta jumbo loan of 50k. However I had insta jumbo loan approval of 4 lakh. So my question is can avail the remaining amount later when i need it.
    Thank you.

    Reply
    1. Siddharth Post author

      Only 1 insta Jumbo loan can be availed at a time. So you can avail more once you close 50k loan.

      Reply
  40. Ajay

    I Got Hdfc Money Back credit card 2days back! I want To get Insta Loan With EMI opptions. Am I eligible for this? And I Do Have salary acc on same hdfc!

    Reply
    1. Siddharth Post author

      You need to wait for sometime for the eligibility to kick in. Keep checking the internet banking for the Insta Loan offers.

      Reply
  41. vijay

    hi sir, i am already taken credit card instant loan 20k . i am regularly pay EMI. if any option to another loan in credit card. my card limit 40k. please advise. thanks

    Reply
  42. komalachandrashekar

    hello sir, i have availed a insta jumbo loan of 1.90k , but to pay back i dont have a hdfc savings bank account , so, whats are the other ways to pay my jumbo loan EMI . to make online payment , the jumbo loan card number is not given by the hdfc, they have just provided the jumbo loan account number in the statement which was sent through mail. cna u please help me .

    Reply
    1. Siddharth Post author

      Call HDFC Customer Care. I think u can setup ECS or simply do NEFT to that a/c no, like any other card.

      Reply
  43. Bala

    Hi Siddhartha, for me I have 290000 insta jumbo loan limit and has 11.88 percent of interest rate. My question is does the interest rate is floating or fixed?
    Also which one is the best loan if we compare with insta loan vs personal loan vs instance jumbo loan..
    As per my knowledge in personal loan interest rate decreases gradually once we start pay the emi’s. I.e., they charge the interest only to the balance emi amount once we start paying.
    Please suggest on this

    Reply
    1. Siddharth Post author

      Its a Fixed interest rate on a reducing balance(principle).
      Jumbo Loan is best as there is no Service tax component in it. Its considered as a Personal loan and it will be reported to CIBIL separately.

      Reply
  44. Faruk

    Hi Siddharth,
    I received the information from my netbanking, the Insta Jumbo loan is available for the amount of 2lakhs, and The EMI details below,
    ex: Insta Jumbo Loan for 2,00,000 (two lakhs),
    Tenure and Interest rate : 24@14.4
    Emi details : 9640.41
    I have Doub on this, Is there any other hidden chargers applied here, other than EMI mentioned amount.

    Because Emi Amount 9640.41 * 24 (months) = 2,31,369.84
    On this it is not calculated 14.4% interest correct?

    Please do let me clarify. I confused much.

    Reply
    1. Siddharth Post author

      Yes, all are correct.
      2,31,369.84 is the interest for the said period.

      You will be charged Rs.250 in addition to these, as per current offer (which keeps changing)
      Offer Period: 1st December, 2016 (Thursday) to 15th December, 2016 (Thursday) Processing fee of just Rs.250/-

      Reply
    2. amit

      hi faruk there is only processing fee 0f 250/ rs only and it include in first emi and no other hidden charge and my advice to you that apply this loan only to net banking for instant credit in your hdfc account and if you apply through phone banking it takes 3- 4 days and interesting thing when you avail jumbo loan from bank and repay regularly after 2-3 months bank will increase your credit limit atleast 30% i personally tried it for many times starting from 55000 limit now i have 835000 limit on my regalaia card

      Reply
  45. Faruk

    Thanks Guys;

    But unfortunately i have missed this insta jumbo loan. Till last month nov end. Its available. But now, it is unavailable. I called phone banking, they also said the same. It is a limited period offer :(.

    So planning to go for personal loan.
    Any advises are welcome 🙂

    Reply
  46. Faruk

    Thank u so much guys, itvis very informative one i am clear now out of confusion.

    But my insta jumbo loan got expired. Because its a limited period offer. I called phone banking and confirm the same.
    I am applicanle for Insta loan n personal loan

    I m not interest on locking my credit limot on credot card
    So Planning to go for personal loan. That is available now

    Any advices are welcome. Thanks in advance

    Reply

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