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 +GST. 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 (Processing fee, GST, limit etc.)
SBI:
HDFC: 12-24% (+Proc.Fee 999/-, +GST on interest amount for Insta loan, No GST in Jumbo loan, within & over the limit, pre-approved, easy to get, usually higher interest rate)
ICICI: 11-18% (Proc.Fee 1%, +GST on interest amount, within & over the limit, pre-approved, easy to get, lower interest rate)
Axis: 14-24% (Proc. Fee 2%, +GST on interest amount, 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: 12% (Proc. Fee 2%, +GST in interest amount, upto 50% of credit limit, Pre-approved)
AU: 16-18% (Proc. Fee 2%, +GST in interest amount, upto 50% of credit limit, Pre-approved)
BoB:
PNB:
Amex:
SC:
HSBC:
One card: 16% (upto 50% of limit, Proc.Fee 1%, +GST on interest amount, 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 +GST. 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 (Processing fee, GST, limit etc.)
SBI:
HDFC: 12-24% (+Proc.Fee 999/-, +GST on interest amount for Insta loan, No GST in Jumbo loan, within & over the limit, pre-approved, easy to get, usually higher interest rate)
ICICI: 11-18% (Proc.Fee 1%, +GST on interest amount, within & over the limit, pre-approved, easy to get, lower interest rate)
Axis: 14-24% (Proc. Fee 2%, +GST on interest amount, 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: 12% (Proc. Fee 2%, +GST in interest amount, upto 50% of credit limit, Pre-approved)
AU: 16-18% (Proc. Fee 2%, +GST in interest amount, upto 50% of credit limit, Pre-approved)
BoB:
PNB:
Amex:
SC:
HSBC:
One card: 16% (upto 50% of limit, Proc.Fee 1%, +GST on interest amount, 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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