Balance Transfer Credit Cards

A balance transfer credit card is one of the most powerful financial tools in your debt-bursting arsenal. By availing of the benefit of the 0% APR on a credit card, you can save more on your payments go towards reducing the principal balance rather than paying interest charges incurred from carrying a balance.

Before opting for a balance transfer credit card, always do your due diligence and choose the balance transfer credit card which will help you to save the most money in the form of interest payments.

Here are the top banks that are offering the best credit card balance transfer

SBI credit card balance transfer

The Credit Card balance transfer facility offered by SBI is based on a general principle, it allows you to transfer your outstanding on your credit card to an SBI card at a low-interest rate. SBI on credit card balance transfer also gives the option of converting the bill into easy EMIs.

Interest rate: If you do not want to pay interest on your bills, opt for 2 months as a repayment tenure. In case you are choosing the option of 6 months, interest would be applicable 1.7% per month.

Processing fees: There will be zero processing fee for choosing the option of 6 months tenure, and a fee of 2% or Rs 199 is applicable for 2 months.

You can apply for the balance transfer online at the official website of the bank, SMS option, mobile app, or by calling up the customer care executive.

ICICI Bank Credit Card balance transfer

For availing of the ICICI Credit Card balance transfer, you are required to pay a minimum outstanding of Rs 15000 on the other card to become eligible for a balance transfer with ICICI bank. The customer should be having a good track record concerning credit card spends and transactions with ICICI Bank.

  • Balance transfers up to Rs 3 lakhs are required
  • The interest rate applicable is fixed at the sole discretion of the bank which would vary depending on the customer’s profile.
  • As far as the repayment option is concerned, you can choose 3& 6 monthly installments.
  • The mode of fund transfer would be through NEFT or Demand Draft. The customer needs to send the personal and bank details to balance the transfer.

HDFC Bank Credit Card Balance Transfer

The HDFC Credit Card Balance Transfer is determined based on the credit card usage of the cardholder. If you want to check your eligibility with HDFC Bank, you can call their customer care executive and get to know the same.

Here are the main attractive features of HDFC Bank Credit Card Balance Transfer

  • Minimal documentation is required
  • You can choose the repayment tenure between 9 to 48 months
  • The interest rate applicable is 1.10% per month on the transferred amount.
  • Quick disbursal
  • EMI is as low as Rs. 27 to Rs. 10,000 can opt.

Standard Chartered Bank Transfer Credit Cards

Standard Chartered offers an easy process to make your outstanding amount payment via balance transfers from another bank credit card to your Standard Chartered credit card.

Here are the main features credit card balance offer of SCB

  • The facility offered by the Standard Chartered Bank allows the customers to transfer the balance up to Rs 5 Lakhs.
  • Features of credit card balance with SCB are:
  • Interest applicable for the first 6 months is 0.99%, after that interest applicable on the card will be charged.
  • Customers have also been given the flexibility to make a
  • payment of a minimum of 5% of the transferred amount each month and the facility can be availed by sending the bank an SMS indicating you wish to avail a balance transfer.
  • No Separate EMIs, no post-dated cheques are required. It is a simple and easy process.

Kotak Mahindra Balance Transfer Credit Cards

Kotak Mahindra Bank is also one best option if you are looking for a good bank that is offering a credit card balance transfer facility.

Features of Kotak Mahindra Credit Card Balance Transfer

  • The minimum amount that could be transferred is Rs 2500 and the maximum is not more than 75% of your credit card limit.
  • The credit card balance transfer process of Kotak is initiated through SMS, calls, or an online portal maintained by the bank.
  • Processing fee of INR 349 per INR 10,000
  • Kotak credit card balance transfer can be availed at a 0% interest rate for 90 days.
  • Repayment options given are 3, 6, or 12 months installments
  • Avail of paperless money remittance

If you are stuck in a considerable credit card debt and facing difficulties repaying the high-interest EMIs, apply for a credit card balance transfer by shifting your outstanding credit card balance to a lender that is offering a lesser interest rate.

Apply for a Credit Card balance with IndiaLends. We have made collaboration with the top banks that offers some of the unique and best credit card balance transfer facility with unlimited offerings and cashbacks.