HSBC offers credit card balance transfer facility that allows the users to transfer the outstanding credit card balance from the other bank to HSBC credit card and gradually repay the amount in easy EMIs at a lower interest rate. HSBC credit card balance transfer come with various benefits, some of which are:
Features and Advantages of HSBC Credit Card Balance Transfer
Here are some benefits of HSBC Credit Card Balance Transfer:
Flexible Amount Transfer: You can transfer any amount above Rs.5000 to other credit card.
Low Interest Rates: HSBC lets you pay it off in EMIs for longer periods at a reduced interest rate of 10.99% to 15% p.a. This is much lower than what you would usually pay as interest for a current outstanding balance.
Flexible Repayment Tenure: You can choose the repayment tenure as per your convenience. The period may be 3, 6, 9, 12, 18, or 24 months.
Processing Fee: HSBC charges only 1% of the balance transfer value as a processing fee.
HSBC Credit Card Perpetual Balance Transfer
Perpetual Balance Transfer is almost the same as that of a normal balance transfer with some additional benefits like transferring the balance at once. Other benefits include:
Interest Rate: Perpetual Balance Transfer comes with interest rate from 1% to 1.2% per month on the outstanding amount.
Foreclosure Charges: With Perpetual Balance Transfer, there are no foreclosure charges.
Processing Fee: 1% processing fee is applied on the Perpetual Balance Transfer.
Flexible payment: You can choose to pay more each month and even close the Perpetual Balance Transfer earlier as per your financial convenience
Eligibility and Documents Required for HSBC Credit Card Balance Transfer
To do the credit card balance transfer with HSBC Bank, you need to atleast have a good credit score. Apart from this, you can contact the bank officials and then they can guide you with the eligibility criteria. No specific documents are required for the same. You can contact the bank officials at 1860 108 7788.
How to do HSBC Credit Card Balance Transfer?
To do HSBC Credit Card Balance Transfer, you can follow the below mentioned steps:
- Visit HSBC bank website (www.hsbc.co.in)
- On the top, under the “Banking Cards & Accounts” section, click on Balance Transfer
- Click on “Apply Now”
- There will be a form that will open asking for your bank details. Once you fill the form and submit, the bank officials will get in touch with you within 2 working days.
Alternatively, you cna also contact the bank officials at 1860 108 7788 or SMS BTR to 575750 and the bank representative will call you at the earliest to guide you with the process.
How can i do credit card balance transfer with HSBC Bank?
You can do credit card balance transfer online on the bank’s website or contact the bank officials.
What is the number on which i can contact the bank officials for credit card balance transfer?
You can contact the bank officials on 1860 108 7788 and they will guide you further with the process.
What are the processing charges on balance transfer?
HSBC Bank charges 1% of processing charges on balance transfer.