Cut Your Debts Faster In 2025 With Six Popular Balance Transfer Credit Cards

During certain critical situations, a common issue that credit cardholders face is the inability to pay their dues on time, which might negatively affect their credit score and overall credit history. However, with the balance transfer option, cardholders can transfer their pending amount to another card which offers a buffer period and a lower interest rate.

How Does Balance Transfer Facility Work ?

Under this system, the credit cardholder transfers their outstanding debt from one card to another. The new card issuer will pay the due amount to the old issuer, effectively clearing the debt from the old card. Now the cardholder will be liable to repay the transferred amount to the new issuer as per their terms and conditions. This transferred amount is deducted from their available credit limit of the new card. So, the effective credit limit available on the card will be the actual credit limit minus the transferred amount.

So, if you are looking for credit cards offering smooth balance transfer facility with maximum benefits, you can consider these following banks

State Bank of India

SBI offers two plans under the balance transfer facility - first plan offers zero interest and the transferred amount is to be repaid within 60 days or 2 months. The credit card holder has to pay a processing fee equal to 2 per cent of the transferred amount, subject to a minimum amount of Rs 199.

Under the second plan, the outstanding amount has to be repaid within six months or 180 days with an interest of 1.7 per cent. However, there is no processing fee involved.

Minimum transferable amount - Rs 5000

Maximum transferable amount - 75 per cent of the credit limit

HDFC Bank

The largest credit card issuing bank allows the customers to repay their transferred amount in small installments within a time period of 9 to 48 months along with a rate of interest of 1.1 per cent per month. The bank charges a processing fee of 1 per cent, subject to a minimum amount of Rs 250.

Minimum transferable amount - No minimum amount applicable

Maximum transferable amount - 75 per cent of credit card limit

Standard Chartered Bank

This bank allows credit cardholders to repay the transferred amount in 6 months. The transferred amount will attract an interest of 0.99 per cent per month. However, there is no processing fee involved.

Minimum transferable amount - No minimum amount applicable

Maximum transferable amount - Rs 5 lakhs subject to the credit card limit

Kotak Mahindra Bank

This private sector bank allows a buffer period of 90 days to the cardholders to repay the transferred amount at zero per cent interest rate. However, it charges Rs 349 processing fee on every Rs 10,000 transferred into the account.

Minimum transferable amount - Rs 2,500

Maximum transferable amount - 75 per cent of credit card limit

ICICI Bank

ICICI Bank avails a buffer period of 3 to 6 months to the cardholders to repay the transferred amount with an interest rate pre-determined at the time of application. Processing fee is also specified at the time of application.

Minimum transferable amount - Rs 15,000

Maximum transferable amount - Rs 3 lakh

RBL Bank

This bank offers three different plans to pay off the transferred amount. The first plan provides a buffer period of 3 months with zero interest rate, whereas the second plan allows a period of 6 months to repay the transferred amount at an interest rate of 12.43 per cent. Meanwhile, the third plan offers a 12-month buffer period with an interest rate of 11.73 per cent. Notably, the bank charges a processing fee of 2.99 per cent, subject to a minimum amount of Rs 750, on a 3-month plan, and a fee of Rs 499 on 6 and 12-month plans.

Minimum transferable amount - Not pre-determined

Maximum transferable amount - Not pre-defined