HDFC Bank's Credit Card Division is now offering Cash on Call through its Online interface, here are the terms and conditions of the same,
Terms & Conditions
Cash on call:
The 'CASH ON CALL' Loan is sanctioned at the sole discretion of HDFC Bank Ltd.
Your availing of the loan will be deemed to be your unconditional acceptance of the terms and conditions and you will be bound by the same.
Interest rate confirmed by you at the time of booking will be applicable. The interest is calculated using the reducing balance method.
Please note that Monthly Payment = Principal Amount+Interest Amount. Please refer to the Amortization Schedule (will be sent after your loan is set up) for details of Principal Amount & Interest Amount.
Please also note that the above EMI amount will be part of the Minimum Amount Due (MAD), appearing in your monthly HDFC Bank Credit Card statement. Payment of MAD is required to keep your card regular. Interest & other applicable charges are levied on the balance outstanding.
Processing fee amount will get levied during the immediate billing cycle post loan booking.
Please note that post booking of this loan, you would be unable to withdraw cash using your HDFC Bank Credit Card. We also take this opportunity to confirm that the facility of cash withdrawal would be restored on payment of your loan in full / pre closure of the loan whichever is earlier.
If your HDFC Bank Card get closed before all the installments have been charged, the Loan outstanding will get debited to your card account is liable to be suspended and could further be terminated.
Partial pre payment or partial closure is not permitted on this loan.
This Loan can be pre closed any time during the tenure. In case of pre-closure of the loan, a charge, currently 3% of the balance principal outstanding plus Service Tax will be applicable. As the pre-closure charge is subject to change, we request you to get in touch with your nearest call centre for the applicable charge if you decide to pre-close the Loan. HDFC Bank reserves the right to revise the pre-closure penalty at its discretion.
Additional interest if any on the principal outstanding from last statement date till date of loan pre closure need to be paid by customer
In case of default in payment of 'CASH ON CALL' EMIs on the due Dates, your loan account services shall be suspended and could further be terminated. Notwithstanding anything stated above, the continuation of the loan shall be at the sole discretion of the bank and outstanding will be payable to the bank on demand.
HDFC bank reserves the right at anytime, without previous notice, to add, alter, modify, change or vary all or any of these terms and conditions or to replace wholly or in part this scheme by another Offer, whether similar to the Offer or not, or to withdraw it all together. You will not hold HDFC bank responsible for, or liable for, any actions, claims, demands, losses, damages, costs, charges, expenses, which a participant may suffer, sustain or incur by the Offer. All disputes, if any, arising out of or in connection with or as a result of the Offer or otherwise relating hereto shall be subject to the exclusive jurisdiction of the competent Courts/Tribunals in Chennai only.
The terms and conditions contained in the Card member Agreement apply over and above the terms and conditions for this Loan. In case you do not agree to any of the details above, or require any further assistance, please contact the nearest customer service call center.
