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  • Citibank Credit Card Balance Transfer

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    Balance Transfers help customers reduce the burden of a big credit card bill, by allowing them to transfer their outstanding balance to another credit card and subsequently pay it off in installments. Unlike the usual credit card bills, in this case, customers can enjoy a fixed rate of interest and also get a fixed EMI each month, which will help them pay off the debt as seamlessly as possible. Citibank offers the facility to a select bunch of customers, who can reduce their debt burden, provided that they meet the eligibility. Here’s what the whole process looks like.

    • Place a request with Citibank for the facility. Alternatively, Citibank may offer you this facility from time to time through mailers, phone or online.
    • The bank will determine your eligibility, and the terms and conditions for this scheme.
    • Under this scheme, the cardmember will be able to transfer the outstanding balance on a credit card of another bank and avail of a ‘Loan on Phone’ facility from Citibank.
    • The customer can then pay back the loan in instalments by way of automatic debit facility.
    • On the billing date of every month, the set instalment amount will be debited to the customer’s savings account.
    • A fee will be charged for this service and will be levied and billed as stipulated by Citibank.

    Balance Transfer Eligibility

    You can transfer your outstanding balance from another credit card if Citibank finds you eligible. Citibank extends this facility only to select customers. Your eligibility will depend on the following factors:

    • How much balance is outstanding with the other bank
    • How much credit limit is available on your Citibank credit card
    • How much cash limit is available on your Citibank credit card
    • Your credit and repayment history

    Balance Transfer Tenure

    The tenure offered under the Loan on Phone facility will be determined by Citibank. There are no set terms available for the balance transfer facility. Depending on the transfer amount and other factors, your tenure will be determined. You might be offered a choice of 3, 6, 9 or 12 months which you can choose according to your convenience.

    Balance Transfer Rate of Interest and Charges

    The rate of interest you will be charged on a Citibank Balance Transfer depends on a number of key factors. These include your credit score, your relationship with the bank, as well as your negotiating ability. Here are a list of charges you.

    Description Charge
    Rate of interest 18% per annum
    Processing Fee 2.5% of the transfer amount or Rs. 300, whichever is higher
    Goods and Service Tax Goods and Service Tax will be levied
    Late payment fee As specified in the loan document at the time of availing the facility
    Preclosure charges 3% of the outstanding principal amount

    How to apply for a Citibank Credit Card Balance Transfer

    In order avail a Citibank credit card balance transfer, you need to contact the bank either online or by visiting a branch, upon which they will give you all the information on how to go about the process.

    FAQs on Citibank Credit Card Balance Transfer

    1. Can I get a Credit Card Balance Transfer even if I don’t have a Citibank credit card?

      Unless you receive a balance transfer offer from Citibank through their email or other marketing campaigns, you need to have an existing Citibank Credit Card to avail the facility.

    2. What will be the interest rate on a Citibank Credit Card balance transfer?

      Interest rates on a Citibank balance transfer can range between 12% to 26%. How high or low an interest rate will be is dependent on your credit history, your repayment history, and your relationship with the bank?

    3. What is the maximum balance transfer I can avail on my credit card?

      There is not set limit as such when availing a balance transfer. However, the maximum you can get is up to 75% of the credit limit you have available on your card.

    4. What if the credit limit available is less than the amount I want to avail the transfer for?

      In your case, sadly, the balance transfer may not work. Your credit limit has to be higher than the transfer amount you are looking to avail.

    5. Is there a pre-closure penalty on the balance transfer facility?

      Yes. You will have to pay a 3% penalty if you are choose to prepay your loan before the tenure you have already chosen.

    6. What are the interest rates like on the Citibank Credit Card Balance Transfer facility?

      Interest rates range between 18% to 24% per annum on the balance transfer facility offered by Citibank, with the  average holding at 21.37%.

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    Credit Card Reviews

    • Citibank Credit Card
      "Good service"
      0.5 3.5/5 "Pretty good"
      I applied for the CITI bank credit card via online and the processing was quick, received the card with in a week. The limit provided is Rs.70,000 which is sufficient. There is no EMI conversion option and balance transfer. I am contacting customer support to change the billing cycle, but not contactable.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 29, 2019
    • Citibank
      Citibank Credit Card
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am holding a Citi Bank credit card. My credit limit is 1.5 lakh. I have used this card almost a yeas. I am getting really good offers, reward points and cashback offers and I am getting benefits on fuel refilling. Balance transfer option is also available.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 22, 2019
    • Citibank Credit Card
      "Should be transparent in the charges"
      0.5 5.0/5 "Blown Away!"
      I have been using CITI credit card for long time, honestly I don't see the benefits, but it helped me when I need of money interms of payment, balance transfer, cash withdrawals. But there was some loop holes are there hence I am not understandable about the charges. But I am happy with the points for 8000 points I convert into Rs. 3000 change.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 16, 2019
    • Citibank Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The best feature with the card is there are good rewards points in a year i am getting 1500 rupees. It is a payable card but there is a waver off option is there. The credit limit given with the card was good. There are EMI and balance transfer but i have not availed.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 13, 2019
    • Citibank Credit Card
      "NEED TO IMPROVE THE SERVICE"
      0.5 2.0/5 "Expected more"
      The online banking is not good also the application is not good to use. The card is not accepted in all the places there are no offers now a days as previously. I am using the card since from last 20 years. There is no EMI, balance transfer with the card.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 30, 2019
    • Citibank Credit Card
      "Flexible credit card"
      0.5 5.0/5 "Blown Away!"
      They are best in the market interms of service , I am using CITI Indian oil card for last 13 years. First thing they have balance transfer and loan on card through online without contacting the customer support. I donâ??t find such feature in other card like YES bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 29, 2019
    • Citibank Credit Card
      "GOOD CARD TO USE"
      0.5 5.0/5 "Blown Away!"
      I am getting 5% cash backs for using in Indian oil petrol outlets, apart from that i am not aware of the offers. The credit limit is good also it is a life time free card. There is a EMI option it is easy to use added on that there is a balance transfer.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 27, 2019
    • Citibank Credit Card
      "BETTER"
      0.5 3.0/5 "Satisfactory"
      The card has the good credit limit but it is a payable card with CITI BANK. I am not aware of the offers but using from last 1 year. The application is not good but there is a EMI and balance transfer option is there. I am getting good cash backs and rewards points.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 25, 2019
    • Citibank Credit Card
      "Good for online transaction"
      0.5 4.0/5 "Great!"
      I am using CITI bank around 18 years, they have enhanced the limit based on the transaction. They are providing emi, flexi pay, balance transfer offers and also cash back are there at online shopping like flipkart. Long back I utilized that benefits for shopping.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2019
    • Citibank Credit Card
      "Good card"
      0.5 3.5/5 "Pretty good"
      I have been started using CITI bank credit card for recently, the credit limit which they have given to me was good, they have given me sufficient as per my requirement, they have not charged me annual fee in this card, as it is life time free credit card, the card came on time, but one suggetion i would like to give them is that balance transfer option should be available , if they introduce balance transfer option in this card then it would be great help to me.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 30, 2019
    • Citibank Credit Card
      "Overall good"
      0.5 3.0/5 "Satisfactory"
      I have taken a credit card with Citibank. The mobile application does not give options to the user. Like the debit and credit details and what ever expense is done. The application should be more detailed and have options like to change the IPIN. It is a life time free card but the credit limit is not satisfactory at the moment. Since it was my need so I took the card. I expected a lakh and I got a very less limit. They should also be a balance transfer option.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Dec 30, 2018
    • Citibank Credit Card
      "The Best"
      0.5 5.0/5 "Blown Away!"
      I am using CITI Bank services for a long term its good in my experience. I use it for domestic transaction there are no charges. The credit limit is good, emi conversation, balance transfer option also available. When I fill petrol through Citi bank card also there are no charges which they charge till date.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 26, 2018
    • Citibank Credit Card
      "GOOD CARD"
      0.5 5.0/5 "Blown Away!"
      My credit card was taken with CITI BANK , i use this card for multipurpose . They offered 60000 of credit limit abut i was expecting 100000 so i am not happy with the limit . There is no balance transfer option if it is there it would be far better . Annual fee is 500. IT is difficult to contact to customer support .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 24, 2018
    • Citibank Credit Card
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had applied for a credit card with Citibank and the main purpose of me getting the card is because I needed a balance transfer option since my existing card with HDFC Bank does not have a EMI facility. After I received the card the option was not available. So I cancelled my card with Citi.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 14, 2018
    • Citibank Credit Card
      "Excellent Card"
      0.5 5.0/5 "Blown Away!"
      I have been using many credit cards in my valet. I just want to experience about CITI card. I don't spend much on this card. I have not even seen the specific features like balance transfer. I have got Credit limit of Rs. 60000. I can able to increase the credit limit after 6 months. I can get my pin through online banking so no need of contacting the customer care.
      Was this review helpful? 0
      , chandigarh
      Reviewed on May 11, 2018
    • Citibank Credit Card
      "Good to Hold"
      0.5 5.0/5 "Blown Away!"
      CITI bank gave me the good credit card around Rs. 60,000, no other credit card gave me good limit as CITI. They do have other features like balance transfer, emi conversion and cash withdrawal option. CITI bank service is really good, it was suggested by online channel.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 01, 2018
    • Citibank Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      It has been quite a while that i am using the CITI Bank reward card .The bank gave me a credit limit of 1.75 Lakh and also the cash withdraw option is also there . The bank gave me balance transfer option there on the card . The Customer service was good from the bank side and it was a good experience over all with CITI Bank .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 29, 2017
    • Citibank Credit Card
      "WONDERFUL SERVICE"
      0.5 5.0/5 "Blown Away!"
      For the past 5 years i am using the credit card of CITI Bank . The Customer service was good from the bank side . The bank gave me a credit limit of 4.52 Lakh and also cash withdraw option is there, the bank did not give me balance transfer there on the card its Indian oil card . Over all it has been a good experience with CITI Bank .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Dec 29, 2017
    • Citibank Credit Card
      "Good One"
      0.5 4.5/5 "Excellent!"
      It has been 1year and 5 months that is am using the credit of CITI Bank . Its a additional card that i am using . The bank gave a credit Limit of 3.5 Lakhs and also cash withdraw option is there provided me on the given amount . The bank gave me a Balance transfer option on the card . It is a world card i am using the same.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 29, 2017
    • Citibank Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      From quite a while i am using the credit card of CITI bank . The customer service is good from the bank side . The CITI Bank gave me a credit Limit of 80K and a cash withdraw option there on the credit card and Balance transfer is there . It is a Reward credit card that using of CITI Bank .
      Was this review helpful? 0
      , pune
      Reviewed on Dec 29, 2017
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