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

    RBL Bank offers the facility of “Transfer n’ Pay” is a pre-approved facility that is provided to customers for the transfer of outstanding balances. With the balance transfer facility, the balances on other credit cards can be transferred to an RBL bank credit card and then pay the amount in Equated Monthly Installments.

    With this feature, you can benefit from lower interest rates and paying the outstanding balance in instalments.

    Features & Benefits

    The RBL Bank ‘Transfer n’ Pay’ program comes with many features which cardholders can benefit from. Some of these features and benefits are:

    • Credit score: With the facility, you can pay back the total amount outstanding on other credit cards on time. This can help your credit score from being impacted by the non-payment of dues.
    • Pre-approved facility: The Transfer n’ Pay program is a pre-approved facility by RBL Bank on select credit card users.
    • Ease of EMI payment: You can convert the payments into EMIs with a tenure of your choice.
    • Avoid higher interest rates: If your current credit card has a higher interest rate, you can opt for this facility and avoid paying these higher rates of interest.
    • Additional benefits: Despite the EMI on your balance transfer, you can use your RBL Bank Credit Card for other purchases as per the limit of your credit card.

    Processing Fees & Interest Rates

    Tenure Processing Fee Rate of Interest (Effective) Rate of Interest (Reducing)
    3 months 2.99% or Rs.750 (higher amount must be paid) NA NA
    6 months Rs.499 12.42% 21%
    12 months Rs.499 11.73% 21%

    Eligibility and Documentation

    The Transfer n’ Pay program by RBL Bank does not require any documentation since it is a pre-approved facility. However, cardholders will have to be eligible for the program based on different factors such as type of card, repayment habits, monthly expenditure, etc.

    How to Apply for RBL Bank Credit Card Balance Transfer

    You can apply for the RBL Bank Credit Card Balance Transfer facility through the following methods:

    If you have an RBL Bank credit card:

    • Missed Call: You can give a missed call to 7045906912.
    • SMS: You will need to SMS ‘BTEMI’ to 5607011.
    • Customer Care: Contact the customer care of the RBL Bank.
    • Chatbot: By using the bank’s Chatbot facility.

    RBL Credit Card Balance Transfer FAQs

    1. Can I pay back the balance transfer amount before the tenure ends?

      Yes, you can pay the complete balance transfer amount before the tenure you have chosen ends. However, a fee of 3% on the outstanding principal amount plus GST will be charged.

    2. How will the RBL credit card balance transfer amount be paid?

      The total balance transfer amount will be divided into EMIs which will be added to your credit card dues at the end of the billing cycle. The total amount due will need to be paid by you on a monthly basis.

    3. What the eligibility criteria for RBL Bank credit card balance transfer?

      The eligibility criteria for the RBL Bank credit card balance transfer depends on the credit card you hold along with other factors the bank may take into consideration.

    4. What is the maximum amount for which I can apply for a Balance Transfer?

      The maximum amount for which the balance transfer facility can be applied for is dependant on RBL Bank. It is advised that you contact the customer care of the bank to know more on the minimum and maximum transfer amount.

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