Punjab National Bank (PNB) provides a convenient balance transfer facility to PNB Global Credit cardholders, through which outstanding balance from another bank credit cards can be transferred to a PNB credit card. Any customer holding a PNB Global Credit card or availing a new card can make use of the Balance Transfer scheme. The interest rate charged on the Balance Transfer scheme is lower than the regular finance charges levied on a credit card.
Other Bank's Credit Card Balance Transfer
The fees and charges that will be levied are mentioned in the table below:
|Processing Fee||Rs.199 or 1% of the amount that is being transferred (whichever is higher)|
|Finance Charges||0.99% per month|
|Repayment Tenure||6 months|
|Monthly Instalment||For every Rs.1,000 that is transferred, Rs.172.50 must be paid.|
The eligibility criteria that must be met in order to avail the Balance Transfer option are mentioned below:
The documents that must be submitted in order to avail a credit card from Punjab National Bank are mentioned below:
Any other documents that are requested by the bank must be submitted as well.
You must submit a request form with the latest monthly statement of the other bank’s credit card to avail the balance transfer facility. However, the monthly statement cannot be more than 45 days old. You can download the request form from the official website of the bank (https://pnbcard.in/login/Documents/PNB_BTF.pdf).
The processing charges by Punjab National Bank for a credit card balance transfer is 1% of the total balance transfer amount or Rs.199, whichever is higher.
The minimum eligible amount for the Punjab National Bank credit card balance transfer is Rs.2,000 and the maximum is 90% of the credit card limit.
You can transfer your PNB credit card balance by filling out a form for the balance transfer facility online and submitting the latest bank statement for the credit card for which the transfer facility is required.
Yes, until your total amount due is paid off, your credit limit may be affected. It is advised that you speak to a bank representative before the process begins.
You can mail your queries related to PNB Credit Card Balance Transfer to email@example.com.
Yes, you can convert your credit card balance into EMIs.
Once you convert your balance into EMIs, you will have to clear the payment within six months.
No, the bank has discontinued the facility of offering balance transfer at 0% finance.
If you availed the balance transfer facility at 0% finance before it got discontinued, then you will continue to enjoy its benefits till the due date.
No, you cannot avail the PNB credit card balance transfer facility as you are not a resident of India. Unless, you hold an Indian citizenship, you cannot avail this facility.
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