Top 6 banks that make credit card balance transfers easy and affordable
Live MintWhen used judiciously, credit cards can offer several benefits like instant discounts/cashbacks, up to 50 days interest-free credit period, complimentary airport lounge access, reward points, etc. Most banks offer a balance transfer facility wherein a credit cardholder can transfer their outstanding balance from one credit card to another at a lower interest rate and easy on the pocket instalments. Balance transfer on EMI for 6 months: The monthly interest rate will be 1.02% to 1.27%, and the processing fee is 1%. On the completion of the BT tenure, the balance amount will be merged with the other outstanding on the credit card and regular rate interest will be charged. The BT facility allows you to transfer the outstanding from one credit card to another and repay in easy monthly instalments at a lower interest rate.
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Balance transfer credit cards: What are the key benefits and how they work?
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Top 6 banks that make credit card balance transfers easy and affordable
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How does the balance transfer facility work on credit cards, and how can you avail of it?
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