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Can You Borrow Money from A Credit Card?
Posted on Monday, August 8th, 2022 | By IndusInd Bank
Today, credit cards are the most popular way to make payments digitally. And why not! They offer convenience, freedom from carrying wads of cash, and tons of exciting offers. You can apply for one online with IndusInd Bank and have your shiny new card delivered to your doorstep in a few days.
Plus, you can automate your credit card bill payments by linking your card to your bank account and then shop stress-free. But the benefits don’t end here – with IndusInd Bank, you can also borrow money using your credit card.
The first way to borrow money from a credit card is by cash advance. If you are facing a financial emergency and don’t have any cash or your debit card with you, you can use your credit card to withdraw cash from the nearest ATM.
The second and the better way to borrow money from your credit card is through a loan against credit cards. With IndusInd Bank, you can apply for an Indus Easy Loan, a quick alternative to get cash when you need it the most!
Read this article to know more about this facility and how you can avail of one.
What Is a Loan Against Credit Card?
A loan on a credit card is a convenient option to arrange quick cash in case of an emergency or when you have your savings locked in investments. Apart from the ease of obtaining ready cash, credit card loans from IndusInd Bank offer several other features which make them stand apart from traditional loan products. Here are three of them.
1. They Are Pre-Approved Loans
Credit card loans are pre-approved and unsecured. Your IndusInd Bank credit card comes with a pre-approved loan amount, depending upon your unused credit limit. Now, with this pre-qualified loan amount, you do not have to submit any documents for verification nor provide any security or collateral. You also do not need a co-applicant or guarantor.
All you need to do is apply via our Netbanking portal/ Mobile App or call the helpline and receive the funds you need within 3 working days.
2. They Provide Easy Repayment Options
When repaying a loan against credit cards with IndusInd Bank, you have the option of easy repayments with monthly EMIs.
You can quickly repay the loan as the monthly EMI is billed to your credit card statement. What’s more, you can also convert your high-value credit card purchases into flexible EMIs. This gives you the freedom to spend as you wish and enjoy maximum repayment flexibility.
3. You Can Get Quick Disbursal
At IndusInd Bank, loans on credit cards are quickly disbursed. There is no application period, processing time, or long waiting time like in the case of personal loans or loans against property. We offer you the funds within 3 days of approval.
How to Avail Credit Card Loans?
You can apply for loans against credit cards online through our Netbanking portal/ Mobile App or call the helpline from the comfort of your home. Then, you will receive the loan amount in your savings account.
The best part? We offer Indus Easy Loans at low processing fees and zero documentation, allowing you to receive the pre-approved loan amount with ease.
Apply for Credit Card Loans with IndusInd Bank
Facing a cash emergency? Make the most of your credit card and avail a loan against it with IndusInd Bank. Now make high-value purchases and make flexible repayments with Indus Easy EMIs.
Visit our website to know more about our offerings and get your pre-approved loan against a credit card today.
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
