What is Balance Transfer? | Updated
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
|
12 months
|
CIMB Bank
|
0% per rmonth
|
6 months
|
Hong Leong
|
0.5 % per month
|
6 months
|
RHB
|
3% onetime interest charge
|
12 months
|
HSBC
|
5.99% per year
|
12 months
|
*Note:
Please check with the banks for updates.
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