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What is a Credit Card Loan?
A Loan on Credit Card is a type of Personal Loan and a pre-approved facility. It does not require you to go through extensive documentation, except for paperwork, to ensure your eligibility. It is an unsecured loan, that means you do not have to pledge any collateral or security in exchange for the loan amount. ICICI Bank offers this facility in the form of a Personal Loan on Credit Card, to select existing customers, after evaluating their credit history, transaction patterns and spending. You can apply for a loan at ICICI Bank at an attractive Credit Card Loan interest rate.
A credit card loan is a form of borrowing that allows credit cardholders to obtain cash advances or transfer balances from their card to their bank account. It provides quick access to funds, but usually comes with higher interest rates and fees compared to traditional loans.