HDFC Credit Card

HDFC Credit Cards

Would you like to know the top 10 credit cards offered by HDFC? Are you struggling to choose one from a wide variety of HDFC cards? We’re here to make it easy for you. Find the best HDFC credit card by comparing it with the rest.

Bank Name1st Year Fee Rewards Joining Perks 


Simply SAVE SBI Card
Rs 0
5 points/150 spent on retail
10X points/150
spent at select retail partners


10,000 reward points

Bank Name1st Year Fee Rewards Joining Perks 


Simply SAVE SBI Card
Rs 0
5 points/150 spent on retail
10X points/150
spent at select retail partners


10,000 reward points

HDFC is Rated as “Great!” by 2498 Users
HDFCbank is a nationalised bank that has its robust network spread throughout the country. Its network makes it easier for customers to educate themselves about the quality products that the bank has to offer. One of the most renowned products of theirs is their Credit Card products. Equipped with competitive rates of interest and processing fee, a HDFC Credit Card is preferred by severalCredit Card customers all across the nation.

HDFC

The practical aspects of buying, constructing or renovating a house involves immense responsibility, impeccable research and thorough planning. For most of us, getting the right Credit Card scheme (which perfectly suits our needs) and repaying it with an interest can be a mammoth task, or maybe quite impossible. Though some people settle for a mortgage, it may not be the wisest option. In this scenario, the best thing to opt for is a comprehensive Credit Card plan. Most leading banks extend financial assistance to customers in the form of Credit Cards, with the purpose of helping them to buy a house.HDFCBank is one on of India’s largest private sector banks.

 

Some of the Best Features Provided By HDFC are as follows:

  • It is a really a very quick and easy process to get a Credit Card from HDFCBank.
  • With a higher eligibility, the bank also offers lower EMIs at affordable and attractive rates of interest.
  • Keeping up evolving technology, HDFCbank has introduced a new system by which you can go through the application process Tablet and Smart phone. This ensures faster processing and quick disbursal of theCredit Card.
  • You can avail Credit Card from HDFCto buy your dream house (of your choice), or from HDFCbank’s approved projects.
  • They also offers pre-approved Credit Cards to selected customers, and existing customers get to enjoy reduced documentation process.
Features and benefits of HDFCbank housingCredit Card
  • Affordable interest rates and both floating and fixed options
  • The Credit Card can be sanctioned before selecting the property
  • A really smooth simplified documentation process and even faster documentation process for existing customers
  • You get the freedom of enjoying a longer tenure with lower EMIs
  • The ‘Balance Transfer’ feature allows you to transfer your existing Credit Card availed from any other bank, to HDFCBank. This is for you to enjoy long term savings.
  • With the Balance Transfer feature, you can enjoy up to additional top upCredit Card amount. This can be up to 100% of the original Credit Card.
  • The bank’s Credit Card page provides unique online tools like Eligibility calculator and EMI calculator. With the eligibility calculator you can find the Credit Card amount you are eligible to avail for, and the EMI calculator calculates the monthly repayment amount towards theCredit Card.
  • Selected customers can enjoy pre-approved Credit Cards.
  • Up to 30 years ofCredit Card tenure available
  • Enjoy a fixed interest rate for the first 10 years, and thereafter a choice of fixed or floating interest rates.
HDFC Credit Card eligibility criteria:
  • Applicants must be at least 21 years old when theCredit Card is sanctioned.
  • The entireCredit Card must be repaid at or before the age of 65 years.
  • Applicant must be self-employed or salaried with a regular income source.
  • The co-applicant’s age must be at least 18 years.
HDFCbank Credit Card interest rates

Before we get into the absolute numbers, it is essential to know how the interest rates are actually calculated. Like other Credit Cards available from other banks in India, HDFCBank Credit Cards also offer an MLCR based interest rate calculation. It is essential to understand that the HDFCBank floating rate Credit Card is benchmarked to I-MCLR-1Y. Below mentioned floating rates are linked to I-MCLR-1Y (One year MCLR) benchmark rate. I-MCLR-1Y is 8.55%. But the interest rates are calculated differently for different groups based on demographics.

HDFC Credit Card interest rate for self employed borrower (Floating Interest Rate)
Loan amount Effective Rate of Interest Rate
30 lacs to 75 lacs 9.15% I-MCLR-1Y + 0.50%
Above 75 lacs9.20%I-MCLR-1Y + 0.55%
HDFC Credit Card interest rate for salaried borrower (Floating Interest Rate)
Loan amount Effective Rate of Interest Rate
30 lacs to 75 lacs 9.10% I-MCLR-1Y + 0.45%
Above 75 lacs9.20%I-MCLR-1Y + 0.55%
HDFC Credit Card interest rate for women borrower- self employed (Floating Interest Rate)
Loan amount Effective Rate of Interest Rate
30 lacs to 75 lacs 9.10% I-MCLR-1Y + 0.45%
Above 75 lacs9.20%I-MCLR-1Y + 0.55%
HDFC Credit Card interest rate for women borrower- salaried (Floating Interest Rate)
Loan amount Effective Rate of Interest Rate
30 lacs to 75 lacs 9.05% I-MCLR-1Y + 0.40%
Above 75 lacs9.20%I-MCLR-1Y + 0.45%
HDFCbank Credit Card EMI calculator
HDFCBank offers unique and dynamic tools like EMI calculator and Eligibility calculator to help customers with choosing the right Credit Card. With the use of the eligibility calculator you can find the Credit Card amount you are eligible to avail for, by entering certain basic details/parameters, and the EMI calculator calculates the monthly repayment amount you need to make towards theCredit Card. For this you need to enter basic details like theCredit Card tenure andCredit Card amount. Make use of these tools to get the best deal. Pradhan mantri awas yojana by HDFCbank

The CLSS or Credit Linked Subsidy Scheme has been announced by the Prime Minister of India, Narendra Modi under the Pradhan Mantri Awas Yojana. According to the CLSS under PMAY, everyone will have a house by 2022.

Under the housing for all by 2022 scheme, interest subsidy can be availed by the customers belonging to MIG (Middle Income Group), LIG (Lower Income Group) and EWS (Economically Weaker Section) for improvement, extension, construction and purchase of houses.

Features of PMAY schemes:
  • In case of MIG categories, the beneficiary family’s Aadhaar numbers are mandatory.
  • The interest subsidy benefit can be availed on the outstanding principal.
  • The subsidy can be availed for maximum tenure of 20 years or the tenure availed by the customer, whichever is lower.
  • No cap is there on the property’s cost or the amount ofCredit Card.
  • The NPV or Net Present Value of the subsidy is calculated at a discounted rate of 9%.
  • Any additionalCredit Card above the specified cap, will come with a non-subsidized rate.
Eligibility for applying PMAY scheme:
  • In order to be eligible for this scheme, the beneficiary family must not have received any central assistance under Housing of all by 2022.
Beneficiaries under PMAY scheme:
  • This particular scheme is offered to the families comprising of wife, husband and unmarried kids. Any adult member earning for himself/herself, irrespective of his/her marital status, will be treated as separate household under the Middle Income Group category.
  • The beneficiary family should not have a pucca house in any part of India. Even the family members cannot own a pucca house anywhere in India
HDFC Credit Card balance transfer HDFCbank gives the privilege of lowering the EMI burden to its customers, and allows them to make savings by transferring their current Credit Card scheme from any other Bank to HDFCbank. The balance transfer feature is very innovative and a very thoughtful gesture on the bank’s part.
FAQs on HDFC Credit Card
  1. I have opted for the floating interest rate option on my HDFCbank Credit Card. If there is a change in the rate, will it affect me? If so, then how?This depends on what your Credit Card is linked to. If yourCredit Card is linked to FRR and PLR your rate of interest will reduce by 0.05%. This will happen due to the change in the FRR/PLR on June 26, 2015. Please note that this change will also correspondingly have an impact upon your EMI orCredit Card tenor.
  2. I am a Credit Card customer with an Initial /Renewable fixed rate of interest. What happens when the fixed rate tenure expires?As per the fixed rate Credit Card, theCredit Card is fixed for a stipulated period of time. The same would have been intimidated to you in theCredit Card sanction letter. After the fixed rate period is over, your interest category of theCredit Card would convert to floating rate. The applicable floating rate is decided based on a certain factor. This is the benchmark rate which is prevailing during the completion of fixed rate period.
  3. Do I have the freedom to choose the category of interest rate (fixed or floating) on my HDFCbank Credit Card?With HDFCbank Credit Cards, borrowers can enjoy fixed interest rate for the first 10 years, and thereafter avail a choice of fixed or floating interest rates. The rate of interest varies according to certain factors like theCredit Card amount, category of borrower, period of theCredit Card and fixed or floating rate of interest.
  4. Is there any special concession on the Credit Card interest rates offered by HDFCbank, for women borrowers?Yes, for women borrowers the starting rate of interest from Credit Card is from 8.35% to 8.80%. The woman borrower needs to be the main applicant of theCredit Card, or a co-owner in the financed property to avail the following rates of interest-
    • The floating rate of interest ranges from 8.65% to 8.80%.
    • The fixed rate of interest (for 5 years, 10 years) ranges from 8.70% to 8.90%
    • The full tenor fixed interest rate ranges from 9.70% to 10.05%
  5. If I want to close my Credit Card, are there any charges on prepaying theCredit Card?If the Credit Card is availed on floating rate of interest, then there are no charges for this. If theCredit Card has been availed on fixed rate of interest, then you need to pay 2% (plus applicable taxes) on the outstanding principal.
Why You Should Choose HDFC ?

Choosing a Credit Card provider is challenging. Building a new is a dream to many, choosing the right bank takes you one step closer to make your dream come true. Many leading banks offer excellent Credit Cards with attractive features. HDFCBank is one such bank that offers Credit Cards that is specially designed keeping their customers in mind.

Excellent Credit CardImprovement Loans From HDFC

People often require funds and opt forCredit Cards to renovate their existing . To help owners refurbish their house, HDFCBank is now offering improvementCredit Cards with attractive features.

Credit CardEquity Loan Offered By HDFCBank

Credit Card equity Credit Card is trending these days. This type ofCredit Card is when a borrower uses the equity of the house as collateral. Many people opt for equityCredit Cards to take care of other expenses like renovations, medical expenses, or for higher education. One of the most popular equityCredit Cards in India is HDFCBank Credit CardEquity Loan.