Best Balance Transfer Credit Cards 2022

List of Best Balance Transfer Credit Cards in India

Credit Card IssuerProcessing FeeRate of Interest per monthApplicable Lower Interest Rate Period
State Bank of India2% of transfer amount or Rs. 199 whichever is higher if the period is 60 days and zero if the period is 6 months0%-1.7%2-6 Months
HDFC BankNA1.10%9 Months
ICICI BankNAfixed3-6 Months
HSBC Bank1% (minimum Rs. 149)0.99% for tenures between 3-12 months 1.25% for tenures 18 months and 24 months3-12 months
Kotak Mahindra BankRs. 349 per Rs. 100000%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

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