® 
Is your Credit Score >750?
- Get low interest loans & Lifetime FREE credit cards
- Get customized Credit Health Report
- Improve your creditworthiness
Get your FREE Credit Score & Report in just 2 minutes
article
Answers
No you cannot pay an EMI for a home loan using a credit card in India
Responded by:Responded on25th May 2015
because a Home Loan fundamentally is a debt/liability and once you take it, you give banks a ""Standing Instruction"" to debit a certain amount (your EMI) monthly on a specific date. Also, on the date of EMI payment, these Standing Instructions are issued only on your Savings or Current account & not on your Credit Cards. Also, because the credit card in itself provides you with a sort of a loan and you must not pay one loan with another one because this won’t literally reduce any of your overall liability but instead will further increase it. Try to reduce your debt always for a better and more secured financial life!"
Post Your Answer
Popular Forum
- How to make credit card payments
- Why short term loans are cheaper than long term loans?
- What's the best way to deal with huge credit card debt?
- How to change the mobile number in your KVB bank account?
- Are there any concessional home loan interest rates for women applicants at the Bank of Maharashtra?
- What is a credit score?
- how to make credit card payment
- Where is minimum rate of interest in Loan Against Property?
- How do I take loan under the Mudra Finance Scheme
- What is the EMI for a home loan in Karur Vysya Bank?
- What is MUDRA loan eligibility and interest rate?
- Where can I get quick loans with bad credit on the same day?
Recent Forum
- All Micro Loans Must Be Collateral-Free
- Five Critical Reasons To Check Your Credit Report Regularly In India
- Machinery Loan Top Provider
- Credit for MSMEs: 5 key schemes beyond ECLGS, CGTMSE meant to ease small businesses' capital woes
- PNB Offers Loans For MSMEs Under Seva Scheme - Know Important Details
- How To Make MSMEs Credit Ready Through Supply Chain Financing?
- How Do You Get A Credit Card If Unemployed?
- The 5 Best Credit Cards For Poor Credit
- Top Credit Cards For Women
- Reliance Nippon Life Super Money Back Plan
- LIC New Money Back Plan - 20 Years Plan
- HDFC Life Super Income Plan - Money back Policy
Most Viewed Forum
- how to get loan against property in bangalore
- What are the highlights of the ICICI Pru iCare II plan?
- Are Credit Cards Safer than Debit Cards?
- How do gold loans work?
- What is the procedure for the Prepayment of a Bike Loan?
- How can I apply for a Mudra loan in India?
- How can Ii get an Axis Bank credit card?
- How to pay HDFC personal loan EMI through net banking?
- How can I repay my business loan faster and the best way for savings?
- How do I change my RBL bank credit card PIN?
- Can I Restructure My Personal Loan?
- What are the benefits of using ICICI Bank Coral (Visa Platinum) credit card?