You can easily transfer the outstanding amount available on your other bank credit card to the SBI credit card. This unique feature is available to all SBI credit card holders. With the Balance transfer facility, you can easily repay the credit outstanding at a lower interest rate. The repayment options are very flexible and convenient. SBI offers two Balance transfer plans for the customers to choose from, as per their requirements.
In order to be eligible to avail the SBI balance transfer facility, the customer has to fulfil the following criteria:
Logging in to the SBI credit card account online and requesting balance transfer
Sending an SMS from the registered mobile number to 56767 with the message text “BT”.
Calling the Bank’s support center at 1860 180 1290 for BSNL/MTNL customers and at 39 02 02 02 for others.
Two different plans are available under SBI balance transfer on EMI. The bank will apply reducing rate of interest for all the plans.
|Tenure||Interest rate||Processing fee|
|3 months||0.75% per month||1.5% or Rs.199|
|6 months||1.27% per month||1.5% or Rs.199|
If you want to foreclose the balance transfer before the end of the tenure, you will be charged a pre-closure fee of 3% of the outstanding principal plus GST.
Ans: All the credit cards issued by various banks are eligible for BT on EMI option.
Ans: The minimum amount transferable is Rs.5000 and maximum is up to 75% of available credit limit on the card.
Ans: No, you cannot book balance transfer on add-on cards. It is applicable only to primary cards.
Ans: The EMI of your transferred amount will be added to your minimum amount due payable every month.
Ans: As EMI will be included in your minimum amount due (MAD), non-payment of MAD will lead to levying normal late payment fee and a credit card charge of 3.35% on the unpaid amount.
Process to Check Credit Card Balance for: