Credit card holders can transfer the outstanding balance from their other bank credit cards to a new or existing HDFC Bank credit card and make convenient repayments using monthly instalments. HDFC also offers the flexibility of transferring the outstanding balance from other products like two-wheeler loans, personal loans and car loans to an HDFC credit card. Customers can make these kind of loan transfers easily and convert their higher monthly instalment amounts into comparatively lower amounts through the Balance Transfer on EMI facility. The loan amount that has been transferred will be adjusted against the customer’s credit limit.
The Balance Transfer on EMI can be availed only by select HDFC Bank credit card customers. To check the eligibility, customers can use the Phone Banking service or register for a call back on their registered phone numbers from the customer care helpdesk and then apply for the balance transfer facility.
Once your loan is approved, you can cancel your HDFC balance transfer facility only within 3 working days from the loan booking date. After three days you cannot cancel the facility but can pre-close it.
Pre-closing your HDFC balance transfer facility is allowed only after completing six months of loan tenure. In case, you have opted for tenure less than 12 months, you will not be allowed for pre-closing your facility.
A foreclosure fee of 3% of the remaining principal outstanding balance will be charged for pre-closing loans before the tenure.
Process to Check Credit Card Balance for: