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PLCC: Personal Loan on Credit Card (Interest Rate, Proc. Fee, and Offering Banks)
- Thread starter 2025
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- Replies 35
- Views 790
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I have no idea. I am also waiting for others to confirm. I think calling customer care is the only solution. This is the trick someone said applies for ICICI.
How do u get/ locate that quick cash offer in the app? if possible. pls. Because I am new to IDFC. looking for such offers.
Ak Singh
TF Legend
Open IDFC app, go to cards section>click on your credit card>scroll down see quick actions> click on get quick cash option..
No offer for me. New card. Thanks.
What is ur (offered) interest rate for quick cash (PLCC) offer at IDFC?
Ak Singh
TF Legend
My current offer at 59k at 10% p.a + 2%processing fee(excluding gst).
Is that amount has any relation with total or available credit limit? Like 50% of available limit or something like that?
Ak Singh
TF Legend
I really don't know, how they are providing.
My credit card limit is 115k.
Current outstanding 2k.
So got offer of 69k.
Their is quote like: Max limit is basis Bank's Internal policy.
That means 60% of CL. (My guess)
Thanks for detailing.
Updated main post. Thanks for your valuable input.
I currently have a loan on credit card offer from Yes Bank. It is an express loan i.e, above credit limit.
I want know a few details.
* Is this loan reported as credit card or loan on credit card to credit bureau i.e, cibil/experian etc?
* loan account number is similar to a credit card number i.e, 16 digital number? or alpha numerical 16 digit i.e, combination of characters and numbers?
* If its reported as credit card then entire loan amount is reported as outstanding. Then it will count under credit utilization. Isn't it?
* If its reported as loan on credit card then the entire amount is reported as loan on credit card. Then it doesn't fall under credit utilization. Isn't it?
@2025 You can update the post with these details.
1. RBL Loan on Credit Card (above credit limit) is being reported as a credit card with entire loan amount as outstanding thereby increasing overall credit utilization. The interest rate can be as low as 11.99% on reducing basis along with no gst charged for the entire duration.
2. ICICI Loan on Credit Card (above credit limit) is being reported as loan on credit card with entire loan amount as loan amount, not credit card. Thereby no effect on overall credit utilization. Interest rate can be as low as 12.99% on reducing basis along with zero processing fees. Negotiate with customer care over call.
1. RBL Loan on Credit Card (above credit limit) is being reported as a credit card with entire loan amount as outstanding thereby increasing overall credit utilization. The interest rate can be as low as 11.99% on reducing basis along with no gst charged for the entire duration.
2. ICICI Loan on Credit Card (above credit limit) is being reported as loan on credit card with entire loan amount as loan amount, not credit card. Thereby no effect on overall credit utilization. Interest rate can be as low as 12.99% on reducing basis along with zero processing fees. Negotiate with customer care over call.
Yes. Loan within credit limit. Not advisable.
They offered me that rate previous month. Now rate changed for me ~16%
* Is this loan reported as credit card or loan on credit card to credit bureau i.e, cibil/experian etc? Yes
* loan account number is similar to a credit card number i.e, 16 digital number? or alpha numerical 16 digit i.e, combination of characters and numbers? - Different credit card number will appear on your App
* If its reported as credit card then entire loan amount is reported as outstanding. Then it will count under credit utilization. Isn't it? - yes entire loan amount
* If its reported as loan on credit card then the entire amount is reported as loan on credit card. Then it doesn't fall under credit utilization. Isn't it? new loan account will appear on your CIBIL
* loan account number is similar to a credit card number i.e, 16 digital number? or alpha numerical 16 digit i.e, combination of characters and numbers? - Different credit card number will appear on your App
* If its reported as credit card then entire loan amount is reported as outstanding. Then it will count under credit utilization. Isn't it? - yes entire loan amount
* If its reported as loan on credit card then the entire amount is reported as loan on credit card. Then it doesn't fall under credit utilization. Isn't it? new loan account will appear on your CIBIL
Confusion 😅
* CIBIL me kya dikh raha hai? Credit Card? or Loan on Credit Card?
* App me 16 digit number hai loan ka (like 16 digit credit card number)? or like PSL0000000AB1234?
* Loan amount CIBIL me utilization mein count ho raha hai?
Need to know because RBL Loan on Credit Card is reflecting as a Credit Card in CIBIL. Jiski wajah se Loan amount is reported as outstanding jo utilization me consider ho raha hai. I want to close this RBL wala loan and take this even if I have to pay 2% extra interest per year.
As per my knowledge they will be considered as utilisation. So overall utilisation percentage will increase but will not affect that card in particular because it's a over the limit loan.
As said before, do not worry about utilisation. Also avoid closing and opening unnecessarily. It also affect overall score. He @V360 have also said the same thing. Hope he will able to confirm u the cibil account number details.
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