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FAQs

Balance Transfer

  • Q1. What is Balance Transfer (BT)?

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

  • Q2. How can I book BT?

  • You can book BT in 3 simple ways, as per your convenience:

    • Log on to your SBI Card online account
      • Click on the ‘Benefits’ link on left hand navigation and select ‘Balance Transfer’
      • Enter details & confirm to book BT instantly
    • SMS BT to 56767
    • Call up our SBI Card helpline at 39 02 02 02 (prefix local STD code) / 1860 180 1290 (from BSNL/MTNL lines)
    • Alternatively, you can Login to Chatbot ILA, ask query for booking Balance Transfer and follow the guided steps

  • Q3. What are the plans available for BT?

  • Currently there are 2 plans available for BT:

    TenureRate of InterestProcessing Fee
    60 days 0% per month 2% or ₹ 199,
    whichever is higher
    6 months 1.7% per month   Nil

     

  • Q4. Can I avail BT on my other SBI Card?

  • No, you cannot book BT for another SBI Card that you own.

  • Q5. For which all credit cards can I avail BT for?

  • 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 BT service?

  • You can book balance transfer for a minimum amount of ₹ 5,000 to a maximum of 75% of your available credit limit. Your maximum limit available for BT booking will be communicated to you at the time of booking.

  • Q7. Can I ask for a cheque for the BT amount?

  • For Balance Transfer booked for VISA Credit Cards, the BT amount will be transferred online through Visa Money Transfer.For all credit cards other than VISA, you will get a cheque for the BT amount.

  • Q8. Within how many days will I get the cheque for BT amount that I have booked?

  • If you reside in a metro, your cheque will be delivered in 3 working days. For other locations, the delivery may take 5 working days.

  • Q9. I am an Add-on card holder, can I book BT on my card?

  • No, BT on EMI can only be booked on a primary card.

  • Q10. Can I book BT on EMI on my SBI 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.

  • Q11. I have already taken BT for the amount that I was eligible for. Now I want to book another BT, how can I do it?

  • If you have availed the BT for maximum eligible amount, then you cannot book the service again till you have paid the BT booked on your SBI Card in full or parts OR your existing credit limit gets extended. If you repay the BT booked in parts, you can book another BT for this amount (Please refer to the Order of Payment Settlement to understand how the amount paid by you against your SBI Card outstanding is settled). Do note that at any given point in time, BT booking on your account cannot exceed 75% of your available Credit Limit.