This is a WikiPost regarding PLCC (Personal Loan on Credit Card)
This thread intend to list banks that offers PLCC as pre-approved basis and the interest rate they offer to the credit card holders. Such information will be useful for many credit card enthusiasts.
Currently GST (18%) is changed over the interest rate. Hence, actual rate will be about 2-4% higher than offered rate. Processing fees are usually about 1-2% of loan amount. Foreclosure charges normally 3%. Approval is very easy for some banks like ICICI and HDFC.
What we know so far:
Bank Name: PLCC interest rate excl.GST (Processing fee, limit etc.)
SBI:
HDFC: 14-24% (Proc.Fee 999/-, Within & Over the limit, pre-approved, easy to get, usually higher interest rate)
ICICI: 11-18% (Proc.Fee 1%, Within & Over the limit, pre-approved, easy to get, lower interest rate)
Axis: 14-24% (upto 90% of credit limit, pre-approved, difficult to get, higher interest rate)
Kotak:
RBL:
Indusind:
Yes: 12% (No processing fee; within and over the limit, Foreclosure charges - 2.5%)
IDFC:
AU:
BoB:
PNB:
Amex:
SC:
HSBC:
One card: 16% (upto 50% of limit, Proc.Fee 1%, difficult to get)
Others (name and details)
If you receive any offer outside the range specified here then kindly let us know.
Request all experts to give your input. Kindly update this post accordingly.
This thread intend to list banks that offers PLCC as pre-approved basis and the interest rate they offer to the credit card holders. Such information will be useful for many credit card enthusiasts.
Currently GST (18%) is changed over the interest rate. Hence, actual rate will be about 2-4% higher than offered rate. Processing fees are usually about 1-2% of loan amount. Foreclosure charges normally 3%. Approval is very easy for some banks like ICICI and HDFC.
What we know so far:
Bank Name: PLCC interest rate excl.GST (Processing fee, limit etc.)
SBI:
HDFC: 14-24% (Proc.Fee 999/-, Within & Over the limit, pre-approved, easy to get, usually higher interest rate)
ICICI: 11-18% (Proc.Fee 1%, Within & Over the limit, pre-approved, easy to get, lower interest rate)
Axis: 14-24% (upto 90% of credit limit, pre-approved, difficult to get, higher interest rate)
Kotak:
RBL:
Indusind:
Yes: 12% (No processing fee; within and over the limit, Foreclosure charges - 2.5%)
IDFC:
AU:
BoB:
PNB:
Amex:
SC:
HSBC:
One card: 16% (upto 50% of limit, Proc.Fee 1%, difficult to get)
Others (name and details)
If you receive any offer outside the range specified here then kindly let us know.
Request all experts to give your input. Kindly update this post accordingly.
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