With the SBI Credit Card balance transfer facility, you can easily transfer the outstanding due of another bank’s card to your SBI Credit Card. The SBI Credit Card balance transfer charges and the interest offered are comparatively lower. This helps you manage your finances better to pay off the credit card dues on the other bank’s card without falling further into debt or damaging your credit score.
The SBI Credit Card balance transfer facility is available to SBI credit cardholders at low-interest rates. Primary SBI credit cardholders don’t have to submit additional documents to enjoy this facility.
Below is a list of general SBI Credit Card eligibility criteria that you must meet to avail of the balance transfer facility:
You must be a resident of India
You must be a primary SBI credit cardholder
You should meet the other requirements as per SBICPSL’s internal policies
Features and Benefits of SBI Credit Card Balance Transfer
Balance Consolidation
You can consolidate various balances into one by transferring them to your SBI Credit Card. This enhances convenience, as you can easily clear your dues before the due date.
Easy Payment Options
The balance transfer facility extends flexible payment options, including balance transfer on EMIs.
Nominal Interest Rates
You can enjoy nominal interest rates when you opt for the balance transfer facility. You can select from two plans, with the first offering a tenor of 60 days with 0% interest. Simply pay 2% of the balance transfer amount or ₹199 (whichever is higher). The second plan offers a tenor of 180 days at an interest of 1.7% per month (20.4% per annum). This allows you to clear your dues easily without straining your finances.
Quick Processing Times
Once you book the balance transfer facility, the payment will be made via NEFT to the other bank’s credit card account within 2-3 business days.
Improves Credit Score
By booking the balance transfer option on your SBI Credit Card, you won’t attract late fees or penalty charges on the other bank’s credit card payment. This has a positive impact on your credit score. Read MoreAdditionally, you can improve your credit score by making timely repayments against your outstanding balance through EMIs. Read Less
Plan Tenor |
Charges |
60 days |
2% of the balance transfer amount or ₹199 |
180 days |
1.7% per month (20.4% per annum) |
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
About Credit Cards Services
- Apply for Credit Card
- Best Fuel Credit Card
- Business Credit Card
- Credit Card Settlement
- Corporate Credit Card
- Credit Card against Fixed Deposit
- Credit Card Documents
- Credit Card Eligibility Criteria
- Credit Card EMI
- Features & Benefits of Credit Card
- Interest Rate on Credit Card
- International Credit Card
- Credit Card Limit
- Credit Card Lounge Access
- Credit Card Netbanking
- Credit Card Bill
- Credit Card Pin Generation
- Credit Card Reward
- Shopping Credit Card
- Check Credit Card Statement
- Types of Credit Card
- Credit Card Billing Cycle
- Credit Card Meaning
- Best Credit Card In India
Credit Cards Partners at Bajaj Markets
Non Partners Credit Cards
FAQs on SBI Credit Card Balance Transfer
What is an SBI Credit Card balance transfer?
The balance transfer facility from SBI Cards allows credit cardholders from different banks to transfer their outstanding dues to their SBI Card at a lower rate of interest. If you are looking to apply for a credit card online then Bajaj Markets is the best place for you.
How long does an SBI Credit Card balance transfer take to clear?
For SBI Credit Card balance transfers that take place through NEFT, the transfer can clear in 48 hours to 72 hours. For cheque-based balance transfers, it can take 3 days if you live in the metro city and up to 5 days for other locations.
How much money can I transfer at a time using an SBI Credit Card?
The amount that you can transfer to your SBI Credit Card must be a minimum of ₹5,000 and can be up to 75% of your available credit card limit.
What is the charge for balance transfer in SBI?
SBI currently offers two plans for balance transfers that offer varying interest rates and charges. Depending on the plan you choose, the SBI Credit Card balance transfer charges can range anywhere between ₹0-199.
What is the tenor offered for the SBI credit card balance transfer?
Currently, SBI offers two plans while booking the balance transfer facility. The first plan offers a tenor of 60 days (2 months) with an interest of 0%. Here, you have to pay a processing fee of 2% of the amount or ₹199, whichever is higher.
The second plan offers a tenor of 180 days (6 months) at an interest of 1.7% per month. No processing fee is levied while opting for this tenor.
