Credit Card Takeover Loan

Are you still struggling to clear off your credit card dues?

Stay away from high interest rate of credit card by using debt consolidation loan. Online application, easy repayments and at half the cost. A low interest option to your credit card worries.

This won't impact your CIBIL score

So, how does Credit Card Takeover Loan work?

It is suggested to swap high interest rate credit card debt for a fixed rate personal loan of shorter duration. With our Credit Card Takeover Loan, you will be free of long-pending credit card debt immediately and this unique personal loan will help build financial discipline. You can take Credit Card Takeover Loan for a total of one or multiple credit cards outstanding. Such prudent steps taken eventually helps improve CIBIL score.

LoanTap's Advantage


Why LoanTap's Credit Card Takeover Loan?

Instant approval and minimum documentation

Easy online process and disbursal within 24-36 hours

Lower interest rate

Lower rate of interest rate as compared to credit card. Balance transfer and cash top-up like personal loan available.

Improved Credit Score

Because you are showcasing financial discipline in paying off your personal loan through fixed EMIs, chances are that your CIBIL score will increase

Transparent Processes

No hidden charges, No pre-payment charges

eligibility-criteria

Eligibility Criteria for Credit Card Takeover Loan

1

Salaried Professional with monthly income more than Rs 30,000

2

Individual working with a limited/private limited company or in a government job

Check My Instalment

Check your reduced tentative monthly outflow as compared to credit card interest for Rs 1 Lakh.

Key Features
Monthly Instalment / Minimum Payment
Time to Disburse
Tenure
Lock-in Period
Foreclosure Charges
Bank Loan LoanTap Credit Card
Rs. 2327 Rs. 1500 Rs. 5000
5-7 days Next Business Day (24-36 hours) Instant
36-48 Months 60 Months 30 days
12 Months None None
4% after Lock-in Zero after 6 Months Nil
Check My Rate
Key FeaturesLoanTap
Monthly Instalment / Minimum Payment Rs. 1500
Time to Disburse Next Business Day (36 hours)
Tenure 60 Months
Lock-in Period None
Foreclosure Charges Zero after 6 Months
Check My Rate
Bank LoanCredit Card
Rs. 2327 Rs. 5000
5-7 days Instant
36-48 Months 30 days
12 Months None
4% after Lock-in Nil

How we make loans happen in 24-36 hours

online application
Online Application

Apply online, upload basic documents or mail us

record your time
Record your time for representative visit

Download documents as per checklist, sign and handover to our representative.

verification sanction disbursal
Verification, sanction and disbursal

We check documents, verify them and activate instant disbursal online

Frequently Asked Questions


Credit cards are a most commonly used form of debt borrowing without much thought. It eases monthly finances by offering up to four to five times of usual salary. This gets you entwined in the vicious credit cycle payments. Minimum amount due seems easy but what you should fear is paying more than 25- 40% interest per annum on the outstanding. Now, working professionals who are entangled in this vicious cycle of credit card can set themselves free by availing credit card takeovers. But why should you take a loan to pay another? Credit card takeover loans are like personal loans and are available at around 1.5% monthly interest versus 3-4% monthly interest applicable on outstanding credit card payments. They allow you to get over the vicious minimum payment due cycle and ensure you maintain good credit history.
You should aim at debt consolidation at one go. It immediately builds in financial discipline and helps in reducing monthly outflow.
No, you have to apply only once. Loan will be sanctioned as per your eligibility and credit checks; you can consolidate multiple debts in one go.
LoanTap offers Credit Card Takeover Loans ranging from Rs 50,000 up to Rs 2 Lakhs; tenure offered from 3 to 9 months.
In Credit Card Takeover Loan, you will need to pay interest amounts every month and principal amount in lump sum; at the end of loan tenure.
Yes. There are no foreclosure charges for pre-paying after six months of loan disbursement. You can prepay your loan at nominal charges within six months of disbursement.
Processing fee for this loan is 2%+applicable taxes; on the gross loan amount sanctioned.
We need below documents for processing your loan request-
  • PAN
  • Address proof
  • 3 months’ pay slips
  • 6 month’s salary account bank statement
However, we might request for few other documents if need arises during credit checks.
Yes, you can make higher payments towards your loan. No charges for higher payments or foreclosure are applicable post 6 months. Within 6 months you can make part payments or foreclosure-with minimal charges applicable.
Yes, you can pre-pay the loan facility post 6 months of disbursement. No foreclosure charges are applicable post 6 months of loan completion, however within 6 months you can prepay your loan with minimal charges
Credit Card Takeover Loan is available in cities where LoanTap is operational. Currently we are providing our loans in Bangalore, Hyderabad, Chennai, Coimbatore, Mumbai, Pune, Ahmedabad, Vadodara, Raipur, Bhopal, Indore, Jaipur, Delhi-NCR and Chandigarh locations.

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