HDFC Credit Card Balance Transfer: Know HDFC Bank Balance Transfer steps!

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HDFC Bank credit card balance transfer service lets you transfer your outstanding balance from any other credit card to your HDFC credit card. This is a very simple process that doesn’t require much documentation. Additionally, these balance transfers are offered at attractive interest rates that can help make repayments easier. Keep reading to know more about the HDFC Bank’s credit card balance transfer facility.

What is the Eligibility Criteria for HDFC Bank Credit Card Balance Transfer?

HDFC Bank credit card balance transfer facility is available only to selected customers. To check your eligibility, you can use any of the following modes:

Netbanking – Login to Netbanking, select Cards, and then Credit Cards. From the menu that appears click on Transact and then Balance Transfer on EMI.

PhoneBanking – Call the HDFC 24X7 PhoneBanking service and share your details to find out your eligibility.

Once your eligibility for the loan is confirmed, you may receive a call or SMS on your mobile number registered with HDFC bank from the sales executive to communicate details such as loan amount, tenure, and interest rate. Apply for a credit card online if you don't have a credit card yet!\

How to Apply for HDFC Bank Credit Card Balance Transfer?

To apply for a HDFC Bank credit card balance transfer first you need to check your eligibility by using the HDFC Credit Card net banking or phone banking facility. It is important to have a credit score to apply for HDFC Bank credit card balance transfer as this facility is only offered to select customers. Once your eligibility has been confirmed, you will receive communication on your registered mobile number via phone call or SMS. No paperwork or documentation is required for the HDFC balance transfer process.

Features & Benefits of HDFC Bank Credit Card Balance Transfer

Here are some of the features and benefits of the HDFC Bank credit card balance transfer facility:

Transfer Your Outstanding Amount to HDFC EMIs – With HDFC balance transfer, you can transfer your entire outstanding loan amount and convert it into EMIs for easier repayment.

Low Interest Rates – HDFC Bank credit card balance transfer facility offers attractive interest rates that allow you to pay off your outstanding debt conveniently.
Flexibility of Tenure – HDFC balance transfer facility offers you the flexibility of repayment tenure varying from 9 months to 48 months.
No Documentation Required – HDFC bank does not ask for any documentation or paperwork while applying for balance transfer thereby resulting in faster approval and a hassle-free banking experience.
Low Processing Fee – HDFC credit balance transfer is processed with a nominal processing fee of 1% of the outstanding balance or Rs. 250, whichever is higher.

Interest Rate and Charges

HDFC Bank credit card balance transfer facility offers among the lowest interest rates in the market. To calculate how much EMI, you would need to pay to service your debt, use this handy EMI calculator. A nominal processing fee of 1% of the outstanding balance or Rs. 250, whichever is higher, is charged on all HDFC balance transfer applications.

DISCLAIMER

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees and charges with regard to any credit card, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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How long does it take to transfer the HDFC Bank credit card balance to another credit card?

A balance transfer is usually reflected immediately. In some cases, however, it may take 5-7 working days to complete.

What is the processing fee for HDFC Bank credit card balance transfer on EMI?

A processing fee of 1% of the outstanding amount or Rs. 250, whichever is higher is charged for HDFC Bank credit card balance transfer.

Can I transfer money from a HDFC Bank credit card to another bank account?

Yes, you can transfer money from a HDFC Bank credit card to another bank account.

Can I transfer HDFC Bank credit card balance to my bank account?

No, it’s unlikely that you’ll be able to transfer your HDFC Bank credit card balance to your bank account. Although, you can consider adding some money to your digital wallet from your HDFC Bank credit card account.

How can I opt for the HDFC Bank credit card balance transfer facility?

Select HDFC Bank credit card holders will be given the choice to transfer their outstanding credit card balance from other credit card accounts to their HDFC Bank credit card account. They will most likely be able to convert this amount into easy EMIs at a lower, promotional rate of interest. Here’s how eligible cardholders can enjoy this facility:

Step 1: Visit HDFC Bank’s website
Step 2: Navigate to the ‘Balance Transfer on Credit Card’ page
Step 3: Enter in your registered mobile number and validate your request by entering in the OTP to view your offer
Step 4: Now enter in the last four digits of your HDFC Bank credit card number
Step 5: Enter in the OTP sent on your registered mobile number/email
Step 6: Check your balance transfer amount
Step 7: Enter in the outstanding amount that you’d like to be transferred from other bank credit card account to your HDFC Bank credit card account
Step 8: Enter in the OTP sent on your registered mobile number to confirm your request
Step 9: Post confirmation, you’ll receive a DD for the loan amount to your registered address

Congratulations, you have now successfully transferred your outstanding credit card balance to your HDFC Bank account.

Why should I transfer my outstanding credit card balance?

Well, for starters, you don’t have to transfer your outstanding credit card balance. But, doing so can be quite beneficial. Firstly, the interest rate charged on outstanding credit card balance can be quite astronomical. Opting for a balance transfer can be an effective way to avoid these high rates of interest. When you transfer your outstanding credit card balance, you’ll likely get a lowered rate of interest. This can bring down your overall repayment liability. Sometimes, credit card issuers also offer 0% interest for a fixed period of time. Transferring your outstanding credit card balance will also help you convert your entire outstanding amount into easy EMIs. So, if you’re finding it difficult to repay your outstanding credit card balance, a balance transfer can help you greatly.

What is the eligibility criteria for the HDFC Credit Card Balance Transfer?

Eligibility for HDFC Credit Card balance transfers is determined on a case-by-case basis. So, it’s best that you get in touch with HDFC Bank’s customer service team to understand your eligibility. Alternatively, you can also check by logging in to your HDFC Bank credit card account. However, general eligibility parameters for credit card balance transfer include a good credit score, a regular source of income, and a decent credit history. Having a pre-existing relationship with HDFC Bank may also be helpful.

Do credit card balance transfers affect credit score?

It’s unlikely that a credit card balance transfer will negatively impact your credit score. A credit card balance transfer can help you consolidate your debt and make repayments simpler. In fact, a credit card balance transfer may help you build your credit score as the balance transfer amount is technically considered to be settled.