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.