What is Balance Transfer? (Credit Cards in Malaysia)
A balance transfer allows you to transfer the ‘credit card balance’ that you owe in one bank to the other bank. This service allows you to reduce the interest (17.5% per year) that you are paying the banks to as low as 0% for 3 months. However, please take note that the ‘0% for 3 months’ will expire after three months and the interest will return to 17.5% per year.
The following are some of the *balance transfer programs available:
Banks
|
Balance Transfer Rates
|
Balance Transfer Tenure
|
Maybank
|
0% per month
|
3 months
|
Public Bank
|
0%
|
6 months
|
Eon Bank
|
2.99% onetime interest charge
|
6 months
|
RHB
|
3% onetime interest charge
|
12 months
|
Citibank
|
3.99% per year
|
9 months
|
*Note:
Please check with the banks for updates.
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