Balance Transfer credit cards
The good news is that getting a business credit card is not too hard. You may have heard of the exciting privileges that come alongside the business credit cards such as business trips, air miles, access to airport lounges and more.
Best Balance Transfer Credit cards 2023
ICICI Instant Platinum Credit card
- Cashback
- Balance Transfer
Fee
Joining Fee - Rs. 2500 + gst
Annual Fee – Rs. 2500 + gst
- ICICI Balance transfer facility allows you to transfer balance from other credit cards and thus save on interest
- Balance Transfer amount upto Rs. 3 Lakhs allowed
- Attractive interest rates
- Payment in 3 and 6 monthly installements
- Zero Documentation
SBI SimplySave Credit Card
- Cashback
- Balance Transfer
Fee
Joining Fee - Rs. 999 + gst
Annual Fee – Rs. 999 + gst
- With SBI Balance Transfer, you can pay your other credit card balances at a lower rate of interest
- Choose from 2 options- 0% Interest rate for first 60 days or Interest 1.7% pm for 180days
- Balance Transfer will be made via NEFT directly to other credit card account within 2-3 days
- Transfer the balance and avail the benefits associated with a standard SBI credit card depending on the category you get
Premium
HDFC Moneyback Credit Card
- Cashback
- Balance Transfer
Fee
Joining Fee - Rs. 2500 + gst
Annual Fee – Rs. 2500 + gst
- Pay your other credit card dues by transferring the balance you owe to HDFC credit card
- It offers a low balance transfer interest rate and tenure from 9 months to 48 months
- No documentation required
- Use an Credit card EMI Calculator to have an idea of how much you are going to pay
Premium
Kotak Bank Aqua Gold Credit Card
- Cashback
- Balance Transfer
Fee
Joining Fee - Rs. 999 + gst
Annual Fee – Rs. 999 + gst
- Transfer the other bank’s credit card outstanding to your Kotak Credit card and enjoy an interest free period of upto 90 days
- Balance transfer from minimum INR 2500 to 75% of the credit limit
- Low Processing fee of just Rs. 349 + GST
- Can be activated easily online through netbanking or mobile app.
Premium
Axis Bank Insta Easy Credit Card
- Cashback
- Balance Transfer
Fee
Joining Fee - Rs. 2500 + gst
Annual Fee – Rs. 2500 + gst
- Axis Bank allows you to transfer your credit card dues to the Axis Bank Credit card at a lower rate of Interest
- For existing customers, it offers a lot of teaser benefits such as interest free period
- The minimum amount that can be transferred from other bank credit card to Axis Bank credit card is Rs.5000.
- 2% of the Balance transfer amount for a 3 month EMI period or minimum amount that will be taken as processing fee is Rs.199, whichever is higher is charged
Premium
What is a balance transfer facility in credit card?
A balance transfer is a type of facility that allows you to transfer your outstanding balance from one credit card to another at a lower interest rate. This feature is beneficial for those who have accumulated a high balance on their credit card and are struggling to pay it off due to high-interest rates.
Benefits of balance transfer credit cards
- Lower interest rates: The primary benefit of balance transfer credit cards is that they offer lower interest rates as compared to the interest rates charged on other credit cards. This makes it easier for you to pay off your outstanding balance and save money on interest charges.
- Consolidation of debts: Balance transfer credit cards allow you to consolidate your debts into one card, making it easier to manage and pay off your debts. This can be especially beneficial if you have multiple credit cards with outstanding balances.
- Lower monthly payments: Balance transfer credit cards offer lower monthly payments, which can help you manage your finances more effectively. This can be beneficial if you are struggling to make ends meet or have other financial obligations to meet.
- Rewards and cashback: Some balance transfer credit cards also offer rewards and cashback programs, which can help you save money on your purchases and earn rewards points for future use.