How to Transfer Credit Card Balance & How it Works?

Q1. What is Balance Transfer?

Balance Transfer facility on SBI Credit Card enables cardholders to transfer their outstanding credit balances from any other credit card issued by a different bank to their SBI Credit Card at lower rates of interest.

Q2. How can I book Balance Transfer?

You can book Balance Transfer through below options, as per your convenience:

Website:

Go to SBI Card Website
Login to your SBI Card online account
Click on Benefits > Lower interest options > Avail Balance Transfer / Balance Transfer on EMI

Mobile App:

Login to your SBI Card Mobile App
Click on EMI & More > Avail Balance Transfer / Balance Transfer on EMI

Helpline:

Call SBI Card Helpline at 39 02 02 02 (prefix local STD code) /1860 180 1290 (Toll Free)

Ask ILA:

Go to SBI Card Website > Login to Chatbot ILA and ask a query for booking Balance Transfer and follow the instructions on the screen

SMS:

SMS BT to 56767

Q3. What are the plans available for Balance Transfer?

Balance Transfer has 2 tenure plans - 60 days & 180 days.

To know more about Balance Transfer, please visit https://www.sbicard.com/en/personal/benefits/lower-interest-option/balance-transfer.page

Q4. Can I avail Balance Transfer on my other SBI Credit Card?

No, you cannot book Balance Transfer for another SBI Credit Card that you hold.

Q5. For which all credit cards can I avail Balance Transfer?

You can avail Balance Transfer for all credit cards, issued by different banks in India.

Q6. What is the amount of Balance Transfer I can avail with Balance Transfer?

You can book Balance Transfer for a minimum amount of ₹5,000 to a maximum of 75% of your available Credit Limit assigned to the concerned primary SBI Credit Card Account. Your maximum limit available for Balance Transfer will be communicated to you at the time of booking.

Q7. How will the Balance Transfer amount be transferred?

Balance Transfer amount will be transferred directly to your other bank credit card account via NEFT within 3-4 working days (excluding bank holidays)

Q8. I am an Add-on Cardholder can I book Balance Transfer on my card?

No, Balance Transfer can only be booked on a primary card.

Q9. Can I book Balance Transfer on my SBI Credit Card for my friends’ or relatives’ credit cards from other banks?

No, Balance Transfer facility can only be availed for cards that the primary cardholder owns in his / her name.

Q10. I have already taken Balance Transfer for the amount that I was eligible for. Now I want to book another Balance Transfer, how can I do it?

If you have availed Balance Transfer for maximum eligible amount, then you cannot book the service again till you have paid the Balance Transfer booked on your SBI Card in full or parts or if your existing Credit Limit gets extended.

If you repay the Balance Transfer booked in parts, you can book another Balance Transfer for this amount (please refer to the Order of Payment Settlement to understand how the amount paid by you against your SBI Credit Card outstanding is settled).

Do note that at any given point in time, Balance Transfer booking on your account cannot exceed 75% of your available Credit Limit.