How to take loan from credit card?

Know More
Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
At your request, you are being re-directed to a third party site - https://www.billdesk.com/pgmerc/kotakcard/ wherein you can make your payment from a different bank account. Kotak Cards does not guarantee or warrant the accuracy or completeness of the information, materials, services or the reliability of any service, advice, opinion statement or other information displayed or distributed on the third party site. You shall access this site solely for purposes of payment of your bills and you understand and acknowledge that availing of any services offered on the site or any reliance on any opinion, advice, statement, memorandum, or information available on the site shall be at your sole risk. Kotak Cards and its affiliates, subsidiaries, employees, officers, directors and agents, expressly disclaim any liability for any deficiency in the services offered by BilIDesk whose site you are about to access. Neither Kotak Cards nor any of its affiliates nor their directors, officers and employees will be liable to or have any responsibility of any kind for any loss that you incur in the event of any deficiency in the services of BiIIDesk to whom the site belongs, failure or disruption of the site of BilIDesk, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials.
Note: Available in select banks only. Kotak Cards reserves the right to add/delete banks without prior notice. © Kotak Mahindra Bank. All rights reserved
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
26 FEBRUARY, 2020
Whether it is a basic expense like paying bills or a large amount required for home renovation, one thing that remains constant is that we require constant financial support.
Fortunately, along with expenses, financial resources have also evolved. Banks and non-banking financial companies are providing loans that cater to various needs. As a result, the number of borrowers has also increased significantly. Taking a loan is quite common and lots of people around us are paying the EMIs of the loan they have taken.
A credit card is one of the best financial tools owing to its multiple purposes. From rewards and discounts while shopping to earning loyalty points, a credit card owner gets to enjoy multiple benefits that come along with it. Many people misunderstand it as a source of back-up cash or tool for shopping. However, a credit card is a lot more than that.
Do you know that you can get a loan through your credit card?
A credit card loan is a personal loan that you can use to pay the outstanding balance of your credit card or for any other purpose. Banks offer attractive interest rates on credit card loans, that help you to save money. If the interest rate of your credit card loan is less than the credit card interest rate, you end up paying less interest. Furthermore, the tenure of your credit card loan can vary anywhere from 6 to 48 months for most banks. This means you get enough time to pay-off your credit dues.
Process of getting a credit card loan
Many banks give you credit cards with pre-approved loans. However, if it is not the case, you need to make an official application to get one from your bank. Generally, banks do not ask you to submit any documents while availing a credit card loan.
You have already rated this article
OK