SBI Loan on Credit Card is an innovative measure taken by SBI to add a new feature to the user experience. Using Credit Card Loan SBI, you can financially cope up during an emergency situation. Only the SBI credit cardholders can avail Loan against Credit Card SBI, so it is a pre-approved loan. Based on your card variant, repayment & credit history, SBI Credit Card Loan offer depends. With minimum paperwork and quick processing time, SBI Credit Card Loan interest rate is charged at an attractive rate.
Types of SBI Loan on Credit Card
SBI Loan on Credit Card are of different kinds to suit the various needs of the customers. Following are the variants of Loan against Credit Card SBI-
- To suit your demand, you can avail pre-approved instant Loan against Credit Card SBI. You need to have a good relationship with the bank and decent credit history Credit Card Loan SBI.
- SBI Credit Card Loan offer loan amount exceeding the existing credit card limit. You do not have to go through any documentation and can avail the loan within 48 hours through NEFT facility.
- The repayment tenure of SBI Loan on Credit Card range between 12, 24, 36 & 48 months. SBI Credit Card Loan interest rate is really low.
- You can apply for a minimum of Rs. 10,000 when availing Loan against Credit Card SBI. The processing fee charged for SBI Loan on Credit Card is 2% subject to a maximum of Rs. 3000 and a minimum of Rs. 500.
- With Easy Money facility, you can avail SBI Loan on Credit Card. The loan amount range from Rs. 5000 to 75% of the cash limit that is available on your credit card.
- SBI Credit Card Loan interest rate is charged at 2.45% per month with a processing fee of Rs. 199 or 1.5% is charged (whichever is higher).
- The processing time of SBI Loan on Credit Card is very low and the loan amount is credited within 48 hours to your bank a/c.
- You can easily repay the Credit Card Loan SBI with the card bill directly within 45 days.
- After using SBI Credit Card for any big purchase, you can convert your repayment into easy EMIs. So, your burden of paying a hefty amount gets reduced significantly.
- Using SBI Loan on Credit Card facility, you can convert transaction above Rs. 2500 into EMIs within 30 days. But for blocked cardholders cannot use this facility.
- SBI Credit Card Loan interest rate of flat 14.5% is charged. Also, a processing fee of 2% subject to a maximum of Rs. 1000 and a minimum of Rs. 199.
Balance Transfer on EMI
- You can convert your high-interest credit card dues to the SBI credit card. SBI Credit Card Loan offer balance transfer facility to repay the card dues at a lower interest rate.
So, based on your requirement, you can easily avail SBI Loan on Credit Card. Whether you can obtain loan amount within or exceeding the credit card limit is completely dependent on the variant of Credit Card Loan SBI.