SBI Balance Transfer EMI

FAQs SBI Balance transfer & Balance transfer on EMI

FAQs of SBI Balance Transfer & Balance Transfer on EMI facility.

In case you want to opt SBI Balance Transfer facility or Balance Transfer on EMI facility, then you need to read the below FAQ’s first.

FAQsBalance Transfer -DescriptionBalance Transfer (EMI)  –
(1) How can I book?(1) Log on to your SBI Card online account then Click on the ‘Benefits’ link on left hand navigation and select ‘Balance Transfer’ then Enter details & confirm to book BT instantly. (2) SMS BT to 56767. (3) Call up our SBI Card helpline at 39 02 02 02 (prefix local STD code) / 1860 180 1290 (from BSNL/MTNL lines). (4) Alternatively, you can Login to Chatbot ILA, ask query for booking Balance Transfer and follow the guided steps.(1) Log on to your SBI Card online account then Click on the ‘Benefits’ link on left hand navigation and select ‘Balance Transfer on EMI’ then Enter details & confirm to book BT on EMI instantly.  (2) Call up our SBI Card helpline at 39 02 02 02 (prefix local STD code) / 1860 180 1290 (from BSNL/MTNL lines). (3) Alternatively, you can Login to Chatbot ILA, ask query for booking BT on EMI  and follow the guided steps.
(2) What are the plans available?Tenure ROI Processing Fee 60 days 0% per month 2% or ₹ 199, (Higher) 6 month 1.7% per month   Nil Tenure ROI Processing Fee 3 month 0.75% per month 1.5% or ₹ 199, (Higher) 6 month 1.27% per month 1.5% or ₹ 199, (Higher)
(3) Can I book on my other SBI Card?No, you cannot book BT for another SBI Card that you own.No, you cannot book BT on EMI on another SBI Card that you hold.
(4) For which all credit cards can I avail?You can avail balance transfer for all credit cards, issued by different banks in India.You can avail balance transfer for all credit cards, issued by different banks in India.
(5) What is the amount of Balance Transfer I can avail with this service?You can book BT for a minimum amount of 5,000 to a maximum of 75% of available credit limit. Your maximum limit available for BT booking will be communicated to you at the time of booking.BT on EMI can be booked for a minimum amount of 5,000 to a maximum of 75% of available credit limit. Your maximum limit available for BT on EMI booking will be communicated to you at the time of booking.
(6) Can I ask for a cheque for the BT amount?  How will the amount of BT on EMI booked be transferred?  For BT 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,  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. For BT bookings through NEFT facility available on our Helpline number, amount will be transferred to your account within 48 to 72 hours.For BT on EMI booked for Visa credit cards, the amount will be transferred online through Visa Money Transfer. For all credit cards other than Visa, you will receive a cheque, 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. For BT bookings through NEFT facility available on our Helpline number, amount will be transferred to your account within 48 to 72 hours.
(7)I am an Add-on card holder; can I book BT on my card?No. BT can only be booked on a primary card.No. BT on EMI can only be booked on a primary card.
(8) 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.No, BT on EMI can only be booked on a primary card.
(9) I have recently changed my address; can I book BT on EMI?  Yes, you can request for Balance Transfer (in case of cheque) even if there is a change in address. However, your BT booking request will be processed only after the new address has been successfully verified. If the verification check is unsuccessful, your BT booking request will not be processed.  Yes, you can request for Balance Transfer on EMI even if there is a change in address. However, your BT on EMI booking request will be processed only after the new address has been successfully verified. If the verification check is unsuccessful, your BT booking request will not be processed.  
(10) Can I repay the amount due before the EMI tenure ends?  Yes. You can repay the amount before the EMI tenure ends. There is a fee of 3% on the outstanding principal + GST will be charged.Yes. You can repay the amount before the EMI tenure ends. There is a fee of 3% on the outstanding principal + GST will be charged.
(11) 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. Do note that at any given point in time, BT booking on your account cannot exceed 75% of your available Credit Limit.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. Do note that at any given point in time, BT booking on your account cannot exceed 75% of your available Credit Limit.

FAQ:

How can I Use SBI Balance Transfer?

(1) Log on to your SBI Card online account then Click on the ‘Benefits’ link on left hand navigation and select ‘Balance Transfer’ then Enter details & confirm to book BT instantly. (2) SMS BT to 56767. (3) Call up our SBI Card helpline at 39 02 02 02 (prefix local STD code) / 1860 180 1290 (from BSNL/MTNL lines). (4) Alternatively, you can Login to Chatbot ILA, ask query for booking Balance Transfer and follow the guided steps.

For more details on this you can visit the official website of SBI Crads

Also Read: How To Reduce Interest Cost Through SBI Credit Card

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