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SBI Credit Card Balance Transfer

SBI Credit Card Transfer

Last Updated 17th Sep 2021

  • SBI credit card balance transfer is the process of repayment of outstanding balances of single or multiple credit cards at a lower rate.
  • SBI credit card balance transfer provides multiple repayment modes.
Interest Rate 1.27%
Card Limit Upto 75% of the credit card limit
Processing Fee2.00%
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What is Balance Transfer (BT) in SBI Credit Card?

SBI credit card balance transfer is the facility to consolidate the outstanding balance from other credit cards to a different credit card from SBI. SBI also offers the flexibility of credit card balance transfer from bank to other. Thus, you can make convenient repayments using monthly instalments at a lower rate.

SBI Credit Card Balance Transfer Interest Rates and Other Charges

Some key factors associated with SBI credit card balance transfer are listed in the table below:

Balance Transfer Rate 1.27%
Processing Fee 2.00%

Benefits of SBI Credit Card Transfer

With the SBI credit card transfer, the outstanding credit card balance can be consolidated and repaid using flexible modes. Here is why you should apply for a SBI credit card balance transfer.

  • Reduced Financial Burden: SBI offers lower credit card balance transfer rates starting at 1.27% along with processing fee of 2.00% on SBI credit card transfer. Thus, you can save on the outstanding balance by transferring your credit card to SBI.
  • Improved Credit Score: If you make timely payment of your balance transfer EMIs, you can improve your credit score with a low-interest rate and an interest-free period of SBI credit card balance transfer.
  • Easy Repayments: With SBI credit card balance transfer, you can consolidate multiple credit card accounts into one account. It will make regular payment easier and organized.
  • Interest-Free Periods : SBI also provides interest-free periods for a specified tenure if you avail of the balance transfer facility of SBI depending upon the current offers at the time of balance transfer.

Eligibility & Documents Required for SBI Balance Transfer

Below-mentioned is eligibility criteria & documents requirement to apply for SBI credit card balance transfer.

  • If you are an existing credit card holder of SBI, you can apply for SBI credit card balance transfer.
  • To avail for SBI credit card balance transfer, you should have a good track record of credit card spendings and must have repaid the credit card dues on time.
  • You can know about the eligibility for SBI credit card balance transfer you can contact through various methods including net banking, mobile banking or by calling SBI credit card customer care number.
  • You do not require any documents for SBI credit card balance transfer.

How to Apply for SBI Credit Card Balance Transfer?

You can apply for SBI credit card balance transfer by using the modes mentioned below:

  • Net banking: You can apply for a SBI credit card via SBI NetBanking process. The general process for this is listed as follows: To apply for SBI credit card balance transfer, follow the below-mentioned steps.
    • Login to SBI Net Banking Portal
    • Look out for a balance transfer option.
    • Enter the details of the card for which you wish to opt for credit card balance transfer.
  • Mobile Application: SBI also allows you to transfer outstanding balance using your mobile application. In general, mobile banking process for SBI is:
    • Download the SBI Mobile app.
    • Log in on the app.
    • Search for the option, ‘Balance Transfer’, choose product, ‘Credit cards’ and enter card details.
  • SMS : You can also transfer your credit card balance by sending an SMS, BT to 56767.
  • Customer Care: You can apply for a credit card balance transfer by contacting BT to 56767 number.

FAQs

What is balance transfer in a SBI credit card?

Balance Transfer facility in a credit card is the facility that allows you to transfer the outstanding balance from any other credit card to a credit card at a lower rate.

What is the limit of card to card transfer?

You can avail card balance transfer for Upto 75% of the credit card limit.

How does a 0% balance transfer work in ?

A 0% balance transfer allows you to transfer the outstanding balance of single or multiple cards at 0% interest for a set period.

Can we transfer money from credit card to a bank account?

Yes, you can transfer money from a credit card to a bank account through third-party platforms.


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SBI Credit Card News - Sep 2021
  • 2021-06-30 : Change in service charge for SBI ATM cash withdrawals
    The State Bank of India (SBI) has revised its service charges for cash withdrawals from ATMs and bank branches. The new charges would apply to the chequebook, transfer and other non-financial transactions. The new service charges will come into effect from 1 July 2021 and will be applicable for Basic Savings Bank Deposit (BSBD) account holders.
  • 2021-06-25 : SBI card and Fabindia have launched contactless co-branded credit cards
    SBI Card has joined hands with lifestyle retail chain Fabindia by launching contactless co-branded credit cards to cater to the premium segment customers. This premium card will allow the customers Direct access to Fabfamily loyalty programme Platinum Tier, Fabindia gift vouchers worth INR 1500 as a welcome benefit, along with several other exciting offers.
  • 2021-06-23 : Google Pay launches cards tokenisation with SBI and other banks
    After successfully rolling out tokenisation with Kotak Mahindra Bank, SBI Cards, and Axis Bank, Google Pay has now added debit cards by SBI, IndusInd Bank, and Federal Bank and credit cards by IndusInd Bank and HSBC India to its slate. Digital wallet platform Google Pay has expanded its network of bank partners offering cards tokenisation on the Google Pay app and added lenders including SBI, IndusInd Bank, Federal Bank, and HSBC India. Google has rebranded its Tez app, launched in September, as Google Pay—the catch-all label for its payments services.
  • 2021-04-27 : SBI introduced video KYC on mobile banking app YONO
    With an aim to improve the customer experience and improve the loan and investment portfolio, SBI introduced KYC on its Mobile banking app YONO. The digital initiative, powered by AI and Facial Recognition Technology, is a contactless and paperless process.
  • 2021-04-27 : SBI Card reported a Q4 profit of ₹175-crore profit
    SBI Card reported a net profit of ₹175 crores for the fourth quarter ended March 31, 2021. The profit was boosted by an increase in other income, lower provisioning for impairment and bad debts.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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