HDFC Credit Card transfer amount

HDFC Credit Card Balance Transfer

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What is a HDFC Credit Card Balance Transfer?

**Disclaimer: HDFC Bank is not a Finserv MARKETS partner. Offers would be from partner Banks/NBFCs only.

 

HDFC Bank is the largest issuer of credit cards in India. Being India’s largest private sector bank by assets and the largest bank in India by market capitalization, HDFC bank credit cards are trusted by more Indians than any other credit card. This is because HDFC offers a wide variety of features and services with its credit cards such as the HDFC credit card balance transfer service. Under this service, you can transfer your outstanding balance from any other credit card to your HDFC credit card without any documentation and at attractive interest rates that make repayment easier.

 

How does HDFC Credit Card Balance Transfer Work?

HDFC credit card balance transfer can be a convenient way of paying off your mounting debts. Missing a credit card payment can be damaging to your credit card score. In case you find yourself in a situation where you face the prospect of missing multiple payments, it is advisable that you consider HDFC balance transfer to meet your mounting obligations. When you are stuck with a debt with a high interest rate, it is likely that all your payments may go into simply servicing the interest on the debt without affecting the principal at all. When you use the HDFC balance transfer facility, however, you enjoy lower interest rates and thus you can now begin to pay off the principal as well.

Eligibility Criteria for HDFC Credit Card Balance Transfer?

HDFC credit card balance transfer facility is available only to selected customers. To check your eligibility, you can use any of the following modes:

  • Netbanking – Login to Netbanking, select Cards, and then Credit Cards. From the menu that appears click on Transact and then Balance Transfer on EMI.
  • PhoneBanking – Call the HDFC 24X7 PhoneBanking service and share your details to find out your eligibility.

Once your eligibility for the loan is confirmed, you may receive a call or SMS on your mobile number registered with HDFC bank from the sales executive to communicate details such as loan amount, tenure, and interest rate. Apply for credit card online if you don't have a credit card yet!

Features & Benefits of HDFC Credit Card Balance Transfer

  1.  Transfer Your Outstanding Amount to HDFC EMIs – With HDFC balance transfer, you can transfer your entire outstanding loan amount and convert it into EMIs for easier repayment.

  2. Low Interest Rates – HDFC credit card balance transfer facility offers attractive interest rates that allow you to pay off your outstanding debt conveniently.

  3. Flexibility of Tenure – HDFC balance transfer facility offers you the flexibility of repayment tenure varying from 9 months to 48 months.

  4. No Documentation Required – HDFC bank does not ask for any documentation or paperwork while applying for balance transfer thereby resulting in faster approval and a hassle-free banking experience.

  5. Low Processing Fee – HDFC credit balance transfer is processed with a nominal processing fee of 1% of the outstanding balance or Rs. 250, whichever is higher.

Fees and Interest on HDFC Credit Card Balance Transfer

HDFC credit card balance transfer facility offers among the lowest interest rates in the market. To calculate how much EMI, you would need to pay to service your debt, use this handy EMI calculator. A nominal processing fee of 1% of the outstanding balance or Rs. 250, whichever is higher, is charged on all HDFC balance transfer applications.

How to Apply for HDFC Credit Card Balance Transfer?

To apply for a HDFC credit card balance transfer first you need to check your eligibility by using the HDFC Credit Card net banking or phone banking facility. It is important to have a credit score to apply for HDFC credit card balance transfer as this facility is only offered to select customers. Once your eligibility has been confirmed you will receive communication on your registered mobile number via phone call or SMS. No paperwork or documentation is required for the HDFC balance transfer process.

HDFC Credit Card Balance Transfer Cancellation

An approved balance transfer can be canceled within 3 working days of the date of approval if the customer so desires. After 3 working days, the balance transfer cannot be canceled. It can, however, be pre-closed. In case the customer desires to pre-close their loan, pre-closure charges of 3% of the principal amount will be applicable.

How to Transfer a Balance from Another Credit Card to HDFC Credit Card?

To transfer your balance to a HDFC credit card, follow these simple steps:

 

  1.  Log on to your HDFC Netbanking account.

  2. Click on the “cards” tab, and then select “credit cards”.

  3. From the menu that opens, select “Transact”, and then “Balance Transfer on EMI”.

  4. On the page that opens, enter the details of your HDFC credit card, as well as the details of the credit card of the other bank from which you want to transfer your credit card balance.

  5. Once you enter the card details and amount, the balance transfer is complete. It will reflect on your HDFC bank account within a maximum of 4 hours.

FAQs About HDFC Credit Card Balance Transfer

  • ✔️How long does it take to transfer the HDFC credit card balance to another credit card?

    A balance transfer is usually reflected immediately. In some cases, however, it may take 5-7 working days to complete.

  • ✔️What is the processing fee for HDFC credit card balance transfer on EMI?

    A processing fee of 1% of the outstanding amount or Rs. 250, whichever is higher is charged for HDFC credit card balance transfer.

  • ✔️Can I transfer money from a HDFC credit card to another bank account?

    Yes, you can transfer money from a HDFC credit card to another bank account.