Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • HSBC Credit Card Balance Transfer

    HSBC Bank credit card customers can transfer their outstanding balance from other bank credit cards to their HSBC credit cards without any hassles using the balance transfer option provided by the bank. HSBC customers can use the HSBC Phone Banking service, SMS Banking or use the HSBC website to opt for the Balance Transfer facility.

    Features and Benefits of HSBC Credit Card Balance Transfer

    • HSBC Bank offers the Balance Transfer on EMI facility to its customers which allows the customers to transfer outstanding credit card balance from one bank credit card to their HSBC Bank credit card.
    • The outstanding credit card balance can be transferred and can be repaid in easy monthly instalments.
    • Under the HSBC Bank Credit Card Balance Transfer on EMI facility, you can choose between the loan tenures of 3, 6, 9, 12, 18, and 24 months.
    • The applicable processing fee is very nominal and stands at 1% of the balance transfer amount, subject to a minimum amount of Rs.149.
    • Choose from the Balance Transfer on EMI and Perpetual Balance Transfer options.
    • The rate of interest applicable to the facility ranges from 1.08% p.m. to 1.25% p.m. for Balance Transfer on EMI option.
    • The rate of interest applicable to the facility ranges from 1% p.m. to 1.2% p.m. for the Perpetual Balance Transfer option.
    • In the case of Perpetual Balance Transfer option, you can make a repayment of as little as just 5% of the outstanding balance per month.
    • You can also choose to pay more than the due amount every month under the Perpetual Balance Transfer facility and pay off your debt earlier.
    • No foreclosure charges are applicable in the case of Perpetual Balance Transfer option.

    Transaction Fee and Charges

    Both the HSBC Bank Credit Card Balance Transfer on EMI option and the Perpetual Balance Transfer option can be availed by the customers for a processing fee. The processing fee in both the cases is the same. At present, the bank charges 1% of the total balance transfer amount as the processing fee. This charge will be subject to a minimum amount of Rs.149.

    Eligibility and Documents Required for HSBC Credit Card Balance Transfer

    To find out your eligibility for the HSBC Credit Card Balance Transfer, you can send an SMS ‘BTR’ and send it to 575750 from your registered mobile phone number. A representative of the bank will get in touch with you accordingly to find out your requirements and if you are eligible for the same.

    HSBC Bank does not require you to provide any documentation for the HSBC Credit Card Balance Transfer feature.

    Types of HSBC Credit Card Balance Transfers

    HSBC India offers customer two options for making balance transfers -

    • Balance Transfer-on-EMI or Equated Monthly Instalments
    • Perpetual Balance Transfer

    Balance Transfer on EMI or Equated Monthly Instalment

    HSBC Bank customers can use the Balance Transfer on EMI facility to transfer and repay the outstanding balance available on their other bank credit cards to a HSBC credit card.

    The repayment can be done in the form of monthly instalments at a competitive interest rate. In order to avail this facility, HSBC customers have to make a minimum balance transfer transaction of Rs.3000 from another bank credit card accounts to their HSBC credit card accounts.

    The monthly instalment will be charged to the customer’s credit card on the due date. Repayments can be done with tenures ranging from 3, 6, 9, 12, 18 or 24 months. HSBC Bank levies a processing fee of 1% of the amount transferred or a minimum of Rs.149 on balance transfer transactions.

    The interest rate charged for the Balance Transfer on EMI facility is as follows.

    Tenure Interest Rate (per month)
    3, 6, 9 and 12 months 1.08%
    18 and 24 months 1.25%

    Perpetual Balance Transfer (PBT)

    HSBC Bank offers the “Perpetual Balance Transfer” to its customers, through which outstanding balance transfers can be done from other bank credit cards to HSBC credit cards. Repayments can be done by customers at low interest rates. A minimum of Rs. 3000 has to be transferred to avail this facility. The lower interest rate is applicable on the balance that has been transferred and HSBC offers the flexibility of having no restrictions on the tenure of repayment under the Perpetual Balance Transfer feature. Customers do not have to select any pre-determined tenure. A minimum repayment has to be done every month which should be equivalent to 5% of the outstanding PBT amount or a minimum of Rs. 100. HSBC Bank levies a processing fee of 1% to 2% on the Perpetual Balance Transfer amount or a minimum of Rs. 149. Customers can make additional payments every month and also close their Perpetual Balance Transfers when they wish to. HSBC does not charge any foreclosure fees on complete repayment of the Perpetual Balance Transfer amount.

    Tenure Interest Rate (per month)
    Not pre-determined 1% to 2% per month

    How to apply for a HSBC Bank Credit Card Balance Transfer

    The process of application for a HSBC Bank Credit Card Balance Transfer is very simple. You can either avail the Balance Transfer on EMI option or the Perpetual Balance Transfer option. You follow the steps mentioned below to apply for the balance transfer:

    • Step 1: Visit the official website of HSBC Bank at www.hsbc.co.in.
    • Step 2: Choose the "Credit Card" option from the main menu and navigate to the ‘Features’ option.
    • Step 3: Click on the "Balance Transfer" option.
    • Step 4: If you want to apply for the Balance Transfer on EMI option, scroll down to the "Apply Now" section and click the button. Alternatively, if you want to apply for the Perpetual Balance Transfer option, scroll down to the "Apply Now" section of the same and click the button.
    • Step 5: You will be redirected to a new web page wherein you will be required to fill up an application form with all the relevant details and submit the same.
    • Step 6: Once the form is submitted, a representative of the bank will get in touch with you.

    Alternatively, you also use SMS banking and online enquiry options, or call the bank at 1860 108 7788.

    FAQs on HSBC Credit Card Balance Transfer

    1. Is there a limit on HSBC Bank Credit Card Balance Transfer?

      The HSBC Bank Credit Card Balance Transfer will be restricted to the maximum credit limit which is available on your credit card. However, based on your repayment capability, the bank might decrease the maximum available credit balance for you in the case of balance transfer.

    2. What is the number on which I can contact the bank officials for credit card balance transfer?

      The official number to contact the bank for credit card balance transfer enquiry is 1860 108 7788.

    3. What is the processing fee which is charged on HSBC Bank Credit Card Balance Transfer?

      The bank charges a processing fee of 1% of the total balance transfer amount. However, this fee will be subject to a minimum of Rs.149.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.