SBI Credit Card Balance Transfer facility helps you transfer the amount you owe on a different bank’s credit card and pay back the same in easy EMIs. You can also consolidate outstanding dues on different credit cards into one and convert them into one single balance with SBI. The bank also offers lower interest rates and introductory benefits to the card holders. A minimal processing fee is charged for transferring your credit card balance to SBI and after that you can enjoy the benefits of lower rates and in some cases, an interest free period.
SBI Balance Transfer can be booked for a minimum amount of Rs 5,000 and a maximum amount up to 75% of your available credit limit with SBI. When you book a balance transfer, the maximum amount will be communicated to you. If you want to transfer the balance of a Visa credit card, the amount will be directly transferred through Visa money transfer. In other cases, you will get a cheque for the amount of balance transfer which will be delivered to you within three working days.