Pre-Close or Foreclose HDFC Credit Card EMI could be opted if you wish to fully settle the EMI or No Cost EMI obtained on your credit card. The reasons for foreclosing a loan on an HDFC Credit Card may include a desire to save on interest charges or having sufficient funds available to clear the loan.
The process for pre-closing or foreclosing HDFC Credit Card EMI or No Cost EMI is the same. Below are the complete steps to be followed if you wish to foreclose or pre-close your HDFC Bank Credit Card EMI.
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HDFC Credit Card EMI Pre Closure Charges
A foreclosure request for an HDFC Credit Card Loan can be placed on the first day of taking the loan or opting for EMI, or after a few days of issuance. In both cases, the interest will be charged on a pro-rata basis for HDFC Bank Credit Cards.
Foreclose HDFC Credit Card EMI Online
HDFC Bank has made the foreclosure process for Credit Card EMIs or Credit Card Loans very convenient for its customers, as it is entirely online and does not require a branch visit.
Access https://mycards.hdfcbank.com/ from your mobile device, as the website is only accessible through mobile and not on PC/Desktop or Laptop.
Enter your registered mobile number and tap on the Get OTP button.
Enter the received OTP code and tap on the Submit button.
After logging in, your Credit Card with the last four digits will be displayed. Below, you will find several options to manage your Card. From the available options, tap on Linked EMIs.
On the next screen, it will show linked EMIs.
Tap on the drop-down icon appearing just before the active Linked EMIs.
The details of your EMIs will be displayed. Scroll down the page and at the bottom, you will find Loan Pre-Closure.
Tap on Loan Pre-Closure.
On the next screen, review the details which will display the loan outstanding principal, pro-rata interest from the last statement date, pre-closure charges if applicable, GST, and the total payable amount.
Select the reason for closure from the available options and tap on the Continue button.
On the next page, accept the terms and conditions by tapping on “I agree to above Terms and Conditions” to submit the request for loan pre-closure. Tap on the Continue button.
A new OTP will be sent to your registered mobile number. Enter the received OTP and tap on the Submit button.
A confirmation screen will appear saying “Your Loan Pre-Closure request is received. Kindly make the payment towards your Credit Card by tomorrow.” It will also mention the Reference Number and Total Payable amount.
You need to make the payment on your Credit Card within the given timeline to successfully process the closure request of the HDFC Credit Card EMI.
The payment needs to be made in the same manner as a regular credit card payment. Once the payment is made, the EMI appearing in the linked loan will be marked as closed.
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