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

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.

FAQs on RBL Credit Card Balance Transfer

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.

5. What are the credit card balance plans available at RBL bank?

   At RBL bank, you get the option to choose the tenure as per your needs and transfer outstanding dues from your other credit card to RBL credit card. The plans available are as follows:

   Tenure (Months)	Processing Fee	Reducing Rate of Interest	Effective Rate of Interest
   3	Rs.750 or 2.99%* (Whichever is higher)	No Interest	NA
   6	Rs.499	21%	12.42%
   12	Rs.499	21%	11.73%

6. For which cards does RBL bank allows balance transfer on EMI?

   The RBL bank allows balance transfer for all credit cards issued by various bank in India.

7. Can I repay the amount before the tenure ends?

   Yes, you can repay the amount before the tenure ends. However, a fee of 3% on the outstanding principal + GST will be charged.

8. What documents do I need to submit to avail balance transfer facility?

   The balance transfer facility at RBL bank requires no documentations and is a pre-approved facility.

9. How much outstanding amount can I transfer to RBL credit card?

   The transferrable outstanding amount depends on your credit limit and will be communicated when you a request for balance transfer.

10. What are the benefits of availing a balance transfer on EMI with RBL credit card?

    The following are the benefits of availing a balance transfer on EMI with RBL credit card:

    • Zero-Interest EMI for 3 Months
    • No negative impact on Credit Rating
    • No risk of default on outstanding amount
    • Save yourself from high interest charges