New Launch: Pre-Approved Personal Loans & Credit Cards

With the advent of numerous folds of banking services has simplified the lives of customers to a major extent. Now, for availing a personal loan, you don’t need to go through the inconvenient documentation or verification formalities or visiting any branch of your bank. You can avail instantly within the comfort of your home, office or at any place. No matter, if you are an existing credit cardholder, the offer gets more lucrative especially if it is applicable at ease on your Credit card provided by the bank. To those who do not have a credit card, you can be drawn by the attractive pre-approved loan offers available at your bank account. To avail any of the options, you should be vigilant to know what kind of pre-approved personal loan or credit card offer is available in the market, who knows what can come to give you instant benefit. Let’s see two of the offers that are rapidly raining in the market:

HDFC Pre-approved Personal Loan

When you have a clear credit history and maintain good financial standing, you may be entitled to Avail HDFC Pre-Approved Personal Loan.

To avail a pre-approved personal loan, check with your online HDFC account, if there is a pre-approved personal loan offer available. You may also get a call in this context from your bank. Normally, if you are an old customer of HDFC Bank with a good credit history, you may be entitled for instant approval of personal loans. To check the offer, simply login to your HDFC Netbanking and check your eligibility against HDFC pre-approved personal loan offer.

Interest Rate: 10.75% — 14.99%

Personal Loan Tenure: 5 years

Processing charges: 2 % of loan sanctioned + Taxes

Documents required: As the HDFC Bank often provides this pre-approved personal loan offers to their existing customers; the process is hassle-free with little or no documentation.

Why you should apply for HDFC Pre-approved Personal Loan Offer?

HDFC pre-approved offers come with a couple of benefits which are described as below:

Immediate funds

If you are an existing customer of HDFC Bank and have got the prior approval for availing HDFC preapproved personal loan, you have to wait no more as you get it instantly in just 10 seconds. However, for the other non-HDFC Bank customers, you have to wait for 4 hours to get HDFC pre-approved personal loan.

Competitive interest rates

Since you are a chosen customer subject to the assessment of your financial viability towards repayment capacity, income stability, and good credit score, the bank is ready to sanction you the funds. You will get HDFC instant preapproved personal loans at the most competitive interest rates. HDFC Bank offers personal loans at EMIs that start from as low as Rs. 2174 per lakh.

Flexibility of objective

You have the flexibility to use the availed pre-approved personal loans without any legal barriers or any other restrictions.

Zero documentation

Existing customers can obtain pre-approved personal loans without any documentation formalities and inconvenience.

Online and paperless

Apply for pre-approved personal loan offer anytime, anywhere and without going to your nearby HDFC branch. You can avail it online at just one click.

Flexible repayment

Pre-approved personal loans permit you to select the repayment tenure of your personal loan. HDFC Bank extends tenures ranging from 12 to 60 months. You can select a tenure that suits your affordability to repay EMIs.

Types of HDFC Personal loan

HDFC Personal loans are offered as per the different needs of the customers. However, the types of HDFC Personal loan differs according to their needs as discussed below:

Personal Loan for Marriage: This personal loan can be obtained to finance all the expenses related to marriage such as banquet booking, shopping of gift items, wedding dresses, catering, photography, flower decoration and much more.

Personal Loan for Education: This personal loan can be obtained for meeting out the expenditures related to higher studies or for your child’s education expenses.

Personal Loan for Travel: This personal loan can be availed in case you plan for your foreign travel or wish to go on a long vacation accompanied by your family.

Personal Loan for Renovation: If you want to renovate your home décor with majestic designs available or wish to fund for interior design, then you should opt for HDFC Personal loans for your home renovation.

Personal Loan for Other Purposes: Don’t let the medical emergency screw your personal savings, it’s better to avail HDFC Personal loans to fund for such purposes.

SBI Pre-approved Credit Card

SBI pre-approved credit card is offered by the State Bank of India to its existing customers. The card is offered under a tripartite agreement between India’s first credit bureau Trans Union Cibil and State Bank of India. SBI Card, the second-largest credit card company permits the credit bureau to verify the credentials of SBI Customers and SBI cards to optimize the data as per the agreement.

SBI Pre-Approved Credit Card is offered in partnership with co-branded cards of the seven banks which include Bank of Maharashtra, Oriental Bank of Commerce and South Indian Bank. It has also fostered the partnership with India’s railway ticketing portal IRCTC.

Types of SBI Credit Cards –Preapproved Cards

SBI Pre-approved credit cards are offered under two categories:

SBI Card — Encash

Avail Instant personal loans on your SBI credit card with Encash facility. Now getting instant funds to plan for your holidays, education, and celebrations and for other reasons is no more a dream. With SBI Card Encash, you can enjoy hassle-free quick access to funds that comes with flexible repayment options. This facility is available to selected SBI Credit cardholders and not eligible for all customers. Encash is a pre-approved money on-demand facility that is offered on and above the existing credit limit of your SBI credit card. The funds get transferred to your account instantly within 48 hours or through payable-at-par cheque. No documentation or paperwork formalities or post-dated cheques are required to avail Encash on SBI Card. You can opt for this facility using your desktop, mobile app or dialing helpline service of the bank at 39 02 02 02 (prefix local STD code)or 1860 180 1290.

Encash Fees and charges

Lower rate of interest as per existing offer

Processing fee charged is 2% (one-time only) that goes up to a minimum of Rs. 499 and a maximum of Rs. 3,000 will be applicable

Foreclosure of Encash : 3% foreclosure fee is applicable on the balance principal amount

SBI Card- Easy Money

Get instant cash with SBI Card’s easy money and ATM Cash services. Easy money provision on SBI Card allows the cardholders to gain access to short-term funds at a low rate of interest. The funds get immediately credited to your SBI bank account through the NEFT facility.

You can opt for a minimum amount of Rs. 5000 to a maximum of up to 75% of your existing cash limit. Moreover, you can avail Easy Money in 3 simple steps as described below:

• Log on to the sbicard.com website or SBI Card app by entering the details of your SBI card online user ID and password.
• Click on the ‘Benefits’ link on the left-hand navigation tab and select ‘Easy Money’
• Enter details
• Confirm to book Easy Money immediately

Or

Log-in to Chatbot ILA and raise your query for booking Easy Money and adhere to the guided steps

Or

Dial SBI Card helpline number at 39 02 02 02 (prefix local STD code) / 1860 180 1290 (from BSNL/MTNL lines)

Plans available for Easy Money

You can choose only one plan that is offered under Easy Money that comes with the following details:

Tenure: 45 days

Interest Rate: 2.45% per month

Processing fee: 1.5% or ₹ 199, whichever is higher