RBL Credit Card Balance Transfer

RBL Credit Card Balance Transfer

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RBL Credit Card Balance Transfer

Balance transfer on credit cards is a feature that allows cardholders to consolidate outstanding dues on different credit cards into one credit card. By doing so, you can clear all your credit card bills using the credit available on the new card. You can then repay the amount in EMIs over a convenient tenure. If you are struggling financially, this feature can help reduce your financial burden and prevent you from having to carry the dues onto the next billing cycle. Also, by paying your credit card bills on time, you save yourself from defaulting, which could otherwise affect your credit score negatively.

The Bajaj Finserv RBL Bank SuperCard comes with the credit card balance transfer facility.

What is RBL Credit Card Balance Transfer?

RBL Transfer n Pay is a feature that you can enjoy on your Bajaj Finserv RBL Bank SuperCard. It allows you to transfer the outstanding balances on credit cards you may have from other banks to an RBL credit card. You can then pay the outstanding dues using EMI advantage over a convenient period of time. The interest rates for using the RBL credit card balance transfer feature is also low, and you get to enjoy a long free-credit period.

Features of RBL Credit Card Balance Transfer?

The RBL credit card balance transfer online features are as follows-

  • You can transfer the balance instantly

  • No documentation is required to avail the facility of balance transfer in RBL credit card

  • You can choose a convenient tenure of either there, six, or twelve months to repay the balance that is outstanding on your credit card

  • The RBL bank credit card balance transfer to other bank feature is entirely paperless, and there are no cash transactions

  • On the RBL Bank SuperCard, the minimum balance transfer amount is INR 5000, while the maximum Is 80 percent of the credit limit available on the card

  • Opting for a balance transfer on RBL credit card does not affect the interest-free period on your future purchases, as long as you are paying your full credit cards bills

  • The minimum payment due on your credit card would include a percentage of the total outstanding balance along with the balance transfer RBL credit card EMI 

What is The RBL Bank Credit Card Balance Transfer Interest Rate?

The interest rate on your RBL credit card balance transfer is calculated against a reducing principal balance. The RBL balance transfer interest rate depends on the tenure you have chosen. Roughly the interest rate against different tenure durations is as follows-

3 months- 0 percent interest per annum

6 months- 12.42 per cent per annum

12 months- 11.73 per cent per annum

What is the Eligibility Criteria for RBL Balance Transfer?

The eligibility criteria for availing the RBL credit card amount transfer to bank account facility is as follows-

  • You must be an Indian resident

  • You must have a current, valid, primary credit card issued by the RBL Bank

  • There should be no overdue amount on your credit card, which is more than 60 days

Hurry! Apply for a Credit Card today and avail the credit card balance transfer facility.

How to Apply for RBL Bajaj Credit Card Balance Transfer Facility?

If you wish to avail the RBL credit card balance transfer to bank account feature, you can apply for same by any of the methods mentioned below-

  1. Missed call- You can leave a missed call after dialling the number 7045906912. Once your call has been disconnected, a bank representative would get in touch with you to discuss the RBL credit card balance transfer details.

  2. SMS- If not by call, you can send an SMS by typing ‘BTY’ followed by the last four digits of the other bank’s card number, and send it to 5607011. This would initiate your booking for using the RBL balance transfer facility.

Whether your request is approved or denied would however depend on your eligibility parameters.

What are The RBL Credit Card Balance Transfer Service Charges?

Certain RBL balance transfer charges are levied if you choose to avail the facility. The applicable RBL Bank credit card balance transfer charges are mentioned below-

  • You need to pay processing fees when you opt for RBL credit card balance transfer

  • As per the government norms, service tax is calculated and needs to be paid for using the facility

  • Should you choose to foreclose your RBL balance transfer, you would need to pay a foreclosure charge of 3 percent on the outstanding principal

RBL Card Balance Transfer Cancellation

The RBL credit card amount transfer to bank account can be initiated within ten days of the service being booked. In such a case, any interest or fees charged against the balance transfer is reversed, and you are not required to pay anything. However, if the RBL credit card balance transfer to another card is completed within the ten days and the credit is cleared in the other bank’s credit card, the reversal of the fees won’t be initiated. Despite this, you can still choose to cancel the balance transfer request.

RBL Bank Balance Transfer Foreclosure

If you wish to foreclose the outstanding dues for availing balance transfer on RBL SuperCard, you can do so. However, after the ten days, all charges will not be reversed, and you would have to pay an additional 3 per cent foreclosure charges on the outstanding principal.

Frequently Asked Questions

  • ✔️Can the RBL Credit Card money be transferred to a Bank Account?

    Yes, money can be transferred to a bank account, using the RBL Bank credit card Transfer n Pay feature.

  • ✔️How long does an RBL Credit Card Balance Transfer take to clear?

    The RBL balance transfer is cleared immediately as long as you are eligible for availing the facility.

  • ✔️How much money can I transfer at a time using an RBL Credit Card?

    On the RBL Bank SuperCard, the minimum balance transfer amount is INR 5000, while the maximum Is 80 percent of the credit limit available on the card.