Best Balance Transfer Credit Cards 2022
List of Best Balance Transfer Credit Cards in India
- SBI Card Balance Transfer
- HDFC Bank Balance Transfer
- ICICI Bank Balance Transfer
- HSBC Bank Balance Transfer
- Kotak Mahindra Bank Balance Transfer
| Credit Card Issuer | Processing Fee | Rate of Interest per month | Applicable Lower Interest Rate Period |
|---|---|---|---|
| State Bank of India | 2% of transfer amount or Rs. 199 whichever is higher if the period is 60 days and zero if the period is 6 months | 0%-1.7% | 2-6 Months |
| HDFC Bank | NA | 1.10% | 9 Months |
| ICICI Bank | NA | fixed | 3-6 Months |
| HSBC Bank | 1% (minimum Rs. 149) | 0.99% for tenures between 3-12 months 1.25% for tenures 18 months and 24 months | 3-12 months |
| Kotak Mahindra Bank | Rs. 349 per Rs. 10000 | 0% | NA |
5. Kotak Mahindra Bank Balance Transfer
Kotak Mahindra bank offers balance transfer facilities.
There is no limit on the maximum amount as long as the amount being transferred is not more than 75% of your credit cards limit.
Processing Fees: that is levied per Rs.10,000 is Rs.349
Interest Rate: Kotak Mahindra Bank does not charge interest on any subsequent purchases made.
4. HSBC Bank Balance Transfer
HSBC facility offered by for balance transfers can be taken for tenures that range from 3 months, all the way up to 24 months.
Processing Fees: 1% of the balance transfer value subject to minimum of Rs. 149 will be charged.
Interest Rate: 3 to 12 months Interest rate 1.08%, and 18 to 24 months Interest rate 1.25%
3. ICICI Bank Balance Transfer
You have need to minimum Rs.15,000 on other card to become eligible for balance transfer with ICICI Bank. Maximum Amount to balance transfer of up to Rs. 3 Lakhs.
Repayment Period of 3 & 6 monthly instalments can be chosen.
Interest Rate: It is fixed at the sole discretion of the bank which would vary depending on the customer’s profile.
2. HDFC Bank Balance Transfer
HDFC is one of the most suitable Balance Transfer option. The available benefits are:
Interest Rate: 1.10% is charged per month on the transferred amount
No documentation or paperwork required
Choose between the tenure between 9 to 48 months.
EMI as low as Rs. 27 to Rs. 10,000 can be opted.
1. SBI Card Balance Transfer
SBI credit card is a outstanding Balance Fransfer.
Processing Fees: No processing fee is levied for the option of 6 months, and a fee of 2% or Rs. 199 is charged for 2 months repayment option.
Interest Rate: The repayment periods can be 2 months or 6 months however, an interest of 1.7% per month is charged only if the tenure is 6 months.
5 most Important Things Know About Credit Card Balance Transfer
- Eligibility
- Processing Fee
- Rate of Interest
- Maximum Amount
- Impact on Credit Score