Accidentally took instant loan instead of jumbo loan on HDFC credit card

[D₹V]

Update:
I just called HDFC customer care. Thanks to everyone for all their recommendation and suggestions. Not possible to include every commentators name in this post but, everyone helped me get this sorted.

Initially, they denied, After that I followed you guys recommendation and said following points:
1. as @D₹V said, I said that there was issue in HDFC URL and I will escalate this much beyond you guys can think.
2. as @prmuch said, I told them about the RBI circular and said I will escalate this to redressal and RBI eventually, and then they put my call on hold and after 2 minutes said that there is a cooling period of 7 days and for you, 3 days have passed so if you again maintain balance back in the account and raise the cancel request, bank will be able to proceed with Cancellation.

I took another 10 minutes of time, maintained the required balance, and called them again, sadly had to explain all the situations again including above points 1 & 2, and she finally raised a cancellation request and said that the loan would be closed by 2nd November.

Once again, Thanks a lot everyone for saving me from this financial blunder.

I will post another update by the 2nd or 3rd of November to let you guys know the update.

Glad it helped 😁.

 

[rajcasio]

Your search for all CC & Loan issues ends here>>>>>TECHNOFINO 👍 😉😉😉

 

[RaviAglRaviAgl is verified member.]

Not to sound ultra negative, but just make sure that they don't levy any foreclosure charges later.

Just keep a close watch on your bank statement.

Thanks!!

 

[Private]

Do I need to get No Due Certificate for Insta Loan ?

 

[TechnoFinoTechnoFino is verified member.]

Do I need to get No Due Certificate for Insta Loan ?

Not required.

 

[Private]

Not required.

I placed a request to reissue card. I received this message :

***** We have applied Usage Settings on ICICI Bank Credit Card XXXX. Log in to iMobile Pay/Net Banking > View/Manage Card Usage. For details call 1800 1080. *****

Does Icici bank update usage setting on old card if we request for reissue.

 

[Ekavya]

Can someone please tell me Jumbo Loans don't consume CC limit. But is it billed on the Credit Card Bill? If No then how can I pay the EMI?

 

[RaviAglRaviAgl is verified member.]

Can someone please tell me Jumbo Loans don't consume CC limit. But is it billed on the Credit Card Bill? If No then how can I pay the EMI?

Generally, a jumbo loan is created as a separate loan account unrelated to the credit card account. The credit card limit only ensures credit worthiness and the maximum loan amount that can ve advanced.

You need to pay the emi to the jumbo loan account number separately provided to you upon disbursement.

Thanks!!