How To Apply For SBI Credit Card Balance Transfer?

The facility for consolidating unpaid amounts on other banks’ credit cards into your SBI card account is called SBI credit card balance transfer. The SBI card will charge the transferred balance at a low-interest rate or can also charge a 0 per cent interest rate for a short period. For customers who fail to pay their outstanding balance and risk heavy punitive penalties and interest, this is beneficial. For balance transfer, customers who already have an SBI credit card can conveniently apply. However, the eligibility conditions set for the said credit card version must be fulfilled by customers requesting a new SBI credit card to allow the use of the balance transfer facility.

Key benefits of SBI Credit Card Balance Transfer

• Compared to credit card interest rates that can go as high as 3.5 percent a month, balance transfers incur a smaller rate of interest. In this way, the use of balance transfer can substantially decrease the net interest cost.
• If you make prompt reimbursement of your EMIs for the balance transfer, you can fix and even strengthen your credit score. This is achievable because, in the context of a low-interest rate and an interest-free duration, you get compensation. Consolidating the remaining balance from several credit card accounts into one will also promote and consolidate regular payments.
• And after they have used the credit card balance transfer, customers continue to receive interest-free periods for new transactions.
• From periodically, SBI Card also provides some teaser rates or promotional offers. These advantages can include periods that are free of interest, lower interest rates, and many more.

Ways to apply for SBI Credit Card balance transfer

Aspects by which SBI credit card balance transfer can be requested are:

Through SBI Net Banking

Follow the steps mentioned below to apply for an SBI credit card balance transfer through net banking:

• Sign in to your SBI Card online account using the required credentials.
• Click on the ‘Benefits’ option and then click on ‘Balance Transfer’
• Now enter all the required details correctly and confirm the same.

Through SBI Card Mobile App

In order to apply for an SBI credit card balance transfer through the SBI Card Mobile App you need to follow the below-pointed steps:

• Open the SBI Card mobile app on your mobile and sign in to your account using the required credentials.
• Navigate to the ‘Benefits’ section and click on ‘Balance Transfer’
• Enter the required specifics and confirm the same

Via SMS

If you want to apply for SBI Credit Card balance transfer via SMS, just type

BT and send it to 56767 from your registered mobile number.

Via Customer Care Help Desk

By calling SBI Credit Card Customer Care numbers 39 02 02 02/1860 180 1290, you can also apply for SBI Credit Card balance transfer service offline from the convenience of your home or workplace.

SBI Credit Card Balance Transfer Charges

Below are the processing fees and interest rate correlated with different SBI credit card balance transfer initiatives. Remember that if the customer shuts the service before the end of term, at 3 percent of the remaining principal balance, they will have to pay pre-closure costs.

Tenure	ROI per month	Processing fees
60 Days	0%	2% / Min. Rs. 199
180 Days	1.70%	Rs. 0
3 Months	0.75%	1.5%/Min. Rs. 199
6 Months	1.27%	1.5%/Min. Rs. 199