YES Bank Credit Card Balance Transfer

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Balance Transfer from a YES Bank Credit Card

**Disclaimer: YES Bank Credit Card is not a Bajaj Markets product. Offers would be from partner Banks/NBFCs only

 

The YES Bank credit card balance transfer facility helps you transfer the existing balance on your YES Bank credit card to a new card from the same or a different bank at a lower rate of interest. Listed below are details about how you can do a YES Bank balance transfer, the eligibility criteria, charges and interest rates involved, and other frequently asked questions.

Key Highlights of YES Bank Credit Card Balance Transfer

 

  • Apply for a YES Bank credit card balance transfer by contacting the customer care

  • Enjoy attractive interest rates of upto 12%-15% p.a

  • Nominal transaction fee

  • Get quick fund transfer via NEFT or Demand Draft

How to Apply for YES Bank Credit Card Balance Transfer 

You can reach the YES Bank credit card customer care to see if you are eligible for a credit card balance transfer. In case you fulfil the criteria, the customer care executive will guide you on how to initiate the process. Once approved, the YES Bank balance transfer can then be done via NEFT or Demand Draft. 

 

You can reach the YES Bank customer care via the following modes to initiate the balance transfer:

Yes Bank Credit Card Email ID

yestouchcc@yesbank.in

Yes Bank Credit Card Toll-Free Number

1800 103 1212

Eligibility for YES Bank Credit Card Balance Transfer

No specific eligibility criteria is stated by the bank to avail the facility. However, fulfilling the following criteria could improve your chances of getting the balance transfer process approved:

 

  • You need to own a YES Bank credit card

  • You have a good track record with the bank

  • You have no past history of defaulting on payments

  • Adherence to YES Bank’s internal policies

Interest Rates & Charges for YES Bank Credit Card Balance Transfer

Minimum Amount

₹2,500

Interest Rate

12%-15% per annum

Transaction Fee

Upto 5% of the balance transfer amount

Features & Benefits of Yes Bank Credit Card Balance Transfer

  • Reduces Financial Burden

Opting for a YES credit card balance transfer could prove to be a feasible solution if you have piled up debt on your credit card and are unable to manage the funds for repayment. Transferring the balance of your credit card to another card with low interest can help reduce your financial strain considerably, making it easy to manage your funds.

  • Lower Interest Rate

Since a credit card balance transfer is done on a new card with a low-interest rate, the cardholder can enjoy attractive interest rates by opting for a YES Bank credit card balance transfer. This low-interest can help reduce the financial strain to pay off any accumulated debt. 

  • Quick Fund Transfer

YES Bank usually opts for NEFT or fund transfer via a demand draft for a balance transfer. This ensures that the transfer happens quickly and gives enough time for the cardholder to manage and pay off the debts. 

  • Added Incentives

Cardholders can also enjoy added incentives such as an interest-free period, low-interest rates, updated credit card offers, and much more when opting for a credit card balance transfer facility

FAQs on YES Bank Credit Card Balance Transfer

  • ✔️How much can we transfer from YES Bank?

    The daily transaction limit on YES Bank netbanking is ₹1 lakh. Factors such as available funds in the customer account will also affect the transfer limit.

  • ✔️Can I cancel the YES Bank Balance Transfer facility post booking?

    Cancellation on the YES Bank credit card balance transfer can be done during the free-look period. If the request is submitted later, the customer may have to pay foreclosure charges.

  • ✔️Does Yes Bank credit card balance transfer negatively affect your credit score?

    Balance transfer is a feasible option in case you are finding yourself getting into a debt trap. A credit card balance transfer can help avoid any damage to your credit score in case of accumulated debt. However, in some cases, it can increase your credit utilisation ratio, shorten your credit history, or make you vulnerable to a hard credit inquiry. 

  • ✔️Is it worth it to transfer a balance?

    In case you see yourself getting into a debt trap because of the heavy interest accumulated on your card, you can opt for a balance transfer to lessen your financial load. However, you must ensure that you do not end up increasing your credit utilisation ratio or damaging your credit history by making constant transfers of debts. 

  • ✔️Can the YES Bank credit card money be transferred to a bank account?

    You can opt for a YES Bank credit card balance transfer to a card from another bank. However, you will have to specify the bank’s name, account details, and other necessary information to initiate the process. Get in touch with a YES Bank customer care executive to know further details. 

  • ✔️What is the YES Bank credit card balance transfer cancellation process?

    You can get in touch with the YES Bank credit card customer care to cancel your credit card balance transfer. In case you submit the request after the free-look period, you might have to pay foreclosure charges.