Credit card loan interest rate

2 min read
24 Apr 2021

Have a financial emergency, or need to borrow quick cash? You can now fulfil your urgent financial needs in no time by applying for a loan against a credit card using your SuperCard.

What is a loan against a credit card?

Credit cards come with a card limit that the cardholder can use. However, if you find yourself in need of additional funds, your credit card issuer can offer you a loan against your credit card at a nominal interest rate.

A loan against a credit card comes pre-approved for the cardholder, which is why it does not require any additional documentation or the need for collateral. The credit card provider typically considers factors such as the credit limit of the card, the usage patterns and the repayment history of the cardholder. Once you apply for the loan, the amount will get disbursed instantly.

*The loan is provided by RBL Bank as per their discretion and is subject to its policies.

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Frequently asked questions

What is the interest rate of a credit card loan?

The interest rate on a credit card loan, also known as the annual percentage rate (APR), reflects the cost of borrowing. It’s typically expressed as a yearly percentage.

What is the average interest rate for a credit card loan?

In India, the average credit card interest rate for June 2024 is 24.37% APR based on recent data. However, specific rates can vary by card and issuer.

What is the credit card interest rate?

The credit card interest rate is synonymous with the APR. It applies to balances carried over from month to month.

Is credit card loan good?

While credit card loans offer convenience, they can be expensive and may impact your credit score. Consider alternatives before opting for one.