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4 reasons why you should opt for a quick personal loan on a credit card

  • Highlights

  • Credit card loans convert the credit limit to a loan

  • Instant loan on a credit card is easy to apply for

  • The SuperCard offers an interest-free loan for 90 days

  • You can repay this loan in 3 easy instalments

A personal loan is a great financial tool as there are no restraints on how you can spend the amount. This, in addition to the fact that you don’t need to pledge any collateral, is the reason for its popularity. However, applying for a personal loan and getting approval can take a while, and in some cases, may be complicated. A simple workaround is to take an instant loan on credit card. This is a feature offered to you by top-tier credit card issuers such as Bajaj Finserv. It allows you to convert your credit limit into a loan, making it extremely beneficial when you are faced with a cash crunch.

To better understand the reasons as to why you should opt for a personal loan via your credit card, read on.

Minimal or nil additional documentation required

Applying for an instant loan on credit card saves you from the trouble producing additional documents when applying. As the issuer already has your documents on file, the application process is quicker, and so is approval. Especially when you need funds for an emergency, getting finance quickly is a key factor, and any steps you can take to ensure this help tremendously.

However, remember that while this is the norm, depending on the issuer, you may need to submit a few documents to supplement what’s on file.

Access to a pre-approved loan offer

Certain credit card issuers give you the option of a pre-approved loan. This means that in the event that you need a personal loan, you can avail of one instantly. This pre-approved offer is based on the issuer’s interpretation of your financial history and their assessment of your risk profile. All you need to do is enter a few basic details, view the offer that’s ready for you, and apply to enjoy instant approval.

Additional Read: check credit card balance

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An interest-free loan for up to 90 days

When you choose a Bajaj Finserv RBL Bank SuperCard and request a personal loan, you can avail your credit limit as a loan on an interest-free basis. This interest-free period lasts up to 90 days, and is a feature that sets it apart from other credit cards in the market.

An interest-free loan can save you a significant amount, while giving you the liquidity that you need in a timely manner. In addition to the emergency loan, the SuperCard also offers you rewards points when you sign up, offers and discounts, and annual savings to the tune of Rs.55,000. Best of all, you can also make interest-free cash withdrawals from an ATM for a period of up to 50 days.

Shopping online made easy with the SuperCard

Easy to access and repay

Some issuers have made the process of acquiring the loan extremely convenient by eliminating the need for a physical visit to the branch. When applying for a loan with your SuperCard, for example, you can either call the credit card customer care number and have a representative assist you, or apply through the MyCard mobile app. In addition to being easily accessible, this loan also facilitates convenient repayment via 3 EMIs.

An instant loan on credit card can change the way you tackle an emergency and so, this is a benefit that you should look for when choosing a credit card issuer. Ensuring that you get more from your credit card will not only help you address uncertainties with ease, but also allow you to save more in the long run. To apply for the Bajaj Finserv RBL Bank SuperCard and access these benefits, check your pre-approved offer. It’s the simplest and quickest way to access the multipurpose credit card.

Additional Read: National Common Mobility Card

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