SBI Credit Card Balance Transfer

SBI Card provides a convenient balance transfer option, allowing you to transfer outstanding balances from other credit cards to your SBI credit card. With the competitive interest rates offered by the company, you can reduce your financial burden and manage your payments more effectively. This facility helps you consolidate debt and pay off dues manageably, reducing the risk of accumulating further debt or damaging your credit score.

Here are key features of the SBI credit card balance transfer facility that simplify debt management and offer financial flexibility:

0% Interest for 60 Days

Enjoy an interest-free period on transferred balances for the first 60 days, allowing you to manage your repayments without additional financial burden during this period.

Low Processing Fee

An affordable processing fee of 2% or ₹199, whichever is higher, is applicable on the transfer amount, ensuring this facility remains cost-effective.

Low Interest Rates

After the 60-day interest-free period, enjoy a low interest rate of 1.7% per month (20.4% p.a.) for up to 180 days, helping you repay your outstanding balance easily.

Consolidate Multiple Balances

You can transfer balances from multiple credit cards to your SBI credit card, simplifying debt management by combining everything into one easy-to-manage account.

Easy Payment Options

Choose flexible payment options that allow you to repay the transferred balance over time, reducing the stress of immediate repayment.

Fast Processing

SBI processes balance transfers quickly via NEFT, ensuring that the payment is made directly to your other credit card account within 2-3 working days.

Here is the interest rate and the processing charges for the SBI credit card balance transfer facility:

Here are the eligibility terms to opt for SBI credit card balance transfer:

1. You must be an Indian resident

2. You must be the primary holder of an active SBI credit card

3. You should have an outstanding balance on credit cards issued by other banks (other than SBI Card)

4. You must also fulfil additional eligibility criteria set by SBICPSL's internal policies

 

Note: The maximum limit for balance transfer is capped at 75% of the available credit limit on the applicant's SBI credit card

 

Documents required to opt for SBI credit card balance transfer:

 

Generally, no extensive documentation is required for the balance transfer process. However, you may need to provide personal identification documents, such as your Aadhaar card or PAN card, along with your credit card details for verification purposes.

The process of applying for the SBI credit card balance transfer is simple and straightforward. SBI offers three easy methods to apply:

Apply via NetBanking

You can opt for the SBI credit card balance transfer facility by logging into the SBI credit card netbanking portal. Here are the steps you can follow:

1. Log in to the SBI Card netbanking portal using your credentials

2. Click on ‘Benefits’ in the navigation tray on the left-hand side and select the ‘Balance Transfer’ option

3. Enter the required details and confirm your balance transfer instantly

Apply via the Mobile App

You can download the SBI Card’s mobile application on your phone and apply for the balance transfer facility online. Once you have installed the app, here are the steps you can follow:

1. Log in to your account on the SBI Card app

2. Select the ‘Balance Transfer’ option listed under the ‘Benefits’ section

3. Enter the necessary details and confirm the booking

Apply via SMS

You can apply for or book the SBI credit card balance transfer facility by sending the following SMS: ‘BT to 56767’.

Apply via Helpline

You can reach out through the SBI Card helpline numbers, 39-02-02-02 (prefix with your local STD code) or 1860-180-1290, if calling from BSNL or MTNL lines.

Apply via Chatbot

Log in to the SBI Card account through their website and use the Interactive Line Assistant (ILA) chatbot to raise a query about booking a facility. After raising a request, follow the provided steps.

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.