Reduce Your Credit Card Debt with Balance Transfer
Transfer high-interest credit card balance to low-interest cards and save thousands in interest charges.
What is Credit Card Balance Transfer?
A balance transfer is the process of moving your outstanding credit card balance from one card to another, typically to a card with a lower interest rate. This can help you save significantly on interest payments while managing your debt more efficiently.
Example Savings:
If you transfer ₹1 lakh balance from 18% card to 0% card for 6 months, you save ₹9,000 in interest charges!
Balance Transfer Options
Credit Card to Credit Card
Transfer to new card with 0% initial rate
Rate: 0-8%
Duration: 6-12
Credit Card to Personal Loan
Convert to fixed-rate personal loan
Rate: 9-13%
Duration: 12-60
Credit Card to Balance Transfer EMI
Structured EMI payment plan
Rate: 5-10%
Duration: 6-24
Top Balance Transfer Cards
Card A
Bank 1
Rate
0% for 6 months
Fee
1%
Limit
₹5 Lakh
Card B
Bank 2
Rate
0% for 9 months
Fee
2%
Limit
₹10 Lakh
Card C
Bank 3
Rate
5% for 12 months
Fee
1.5%
Limit
₹7.5 Lakh
Balance Transfer Savings Calculator
Estimated Monthly Savings
₹1,500
Frequently Asked Questions
What is the balance transfer fee?
Typically 1-2.5% of transferred amount. Some banks offer 0% fee for limited periods.
How long does balance transfer take?
Usually 5-7 working days for the amount to be credited to your old card.
Can I transfer from any credit card?
Yes, you can transfer from any bank's credit card to another card or personal loan.
What's the maximum balance I can transfer?
Usually 80-100% of your new card's credit limit.
Does balance transfer affect my credit score?
Temporarily, but it improves over time as you reduce debt-to-credit ratio.
Ready to Reduce Your Debt?
Get personalized balance transfer recommendations based on your profile