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.
Other Credit Card Balance Transfer
The RBL Bank ‘Transfer n’ Pay’ program comes with many features which cardholders can benefit from. Some of these features and benefits are:
|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|
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.
You can apply for the RBL Bank Credit Card Balance Transfer facility through the following methods:
If you have an RBL Bank credit card:
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.
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.
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.
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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