SBI Credit Card holders can transfer outstanding balances from other bank credit cards to their SBI Card account at comparatively lower interest rates using the official Balance Transfer (BT) facility.
The minimum transfer amount starts from âš5,000, while eligible users can transfer up to 75% of their available SBI credit limit.
đ Step-by-Step: Book via SBI Card Mobile App
- Download and log into the official SBI Card App
- Open EMI & More and select Balance Transfer
- Choose between:
- 0% Interest Plan (60 Days)
- 1.70% Monthly Interest Plan (180 Days)
- Enter the other bankâs 16-digit credit card number and transfer amount
- Verify using OTP authentication
- Funds are transferred through NEFT within approximately 3â4 working days
đĄ Tip: If you can repay the transferred amount within 60 days, the 0% interest option can save significant finance charges. Only a one-time processing fee of 2% or âš199 (whichever is higher) applies.
đ Quick Insight: The 180-day plan charges around 1.70% monthly interest (20.40% yearly) but often comes with âš0 processing fees.
â Important: Once a balance transfer is activated, new shopping transactions on the SBI Card may start attracting regular finance charges around 3.35%â3.75% per month from day one until the transferred balance is cleared.
Balance transfers between two SBI Cards are not allowed, and add-on cardholders are not eligible for this facility.
Read Below: Available SBI Balance Transfer Plans âĸ BT Processing Fees âĸ Balance Transfer on EMI âĸ Eligibility Rules & Timelines
1. SBI Balance Transfer Plans & Repayment Options
SBI Card mainly offers two balance transfer options for users looking to manage existing credit card debt more comfortably.
- 60-Day Interest-Free Plan: Useful for short-term cash flow problems or users expecting a bonus, incentive, or upcoming payment. The transferred balance stays interest-free for up to 60 days, although a small processing fee may still apply.
- 180-Day Low-Interest Plan: Better suited for larger outstanding balances. Instead of very high 40%+ annual credit card interest rates, SBI applies a lower structured monthly charge over a longer repayment period.
đĄ Real Tip: Balance transfers work best when you already have a repayment plan. Otherwise, moving debt from one card to another can slowly turn into a repeated debt cycle.
2. Alternative Method: Balance Transfer on EMI (SBI BT on EMI)
If 60 or 180 days are not enough to clear your dues, SBI Card also offers a Balance Transfer on EMI (BT on EMI) option for longer repayment flexibility.
How It Works
- Open the SBI Card app and select âBT on EMIâ from the dashboard
- Transfer outstanding dues from another bankâs credit card
- Convert the amount into structured EMIs like 3, 6, 9, or 12+ months
- Monthly interest rates usually range between 0.75% to 1.67% depending on your credit profile and internal eligibility
Important Charges
- Early closure of the EMI plan usually attracts a 3% foreclosure charge on the remaining principal amount
- GST and other applicable charges may also apply separately
đĄ Practical Insight: Shorter EMI plans save you the most money. Clearing a âš1 Lakh debt over 6 months instead of 12 months cuts your total interest costs in half.
3. Step-by-Step SMS & Offline Booking Methods
If you do not have internet access or the SBI Card app installed, SBI Card also allows balance transfer requests through SMS and customer care support.
(A). SMS Method –
- Open your phoneâs messaging app and type:
- BT for a normal balance transfer
- BTEMI for Balance Transfer on EMI
- Send the SMS to 56767 from your registered mobile number.
- After that, SBI Card usually calls back within 24â48 hours to confirm the request and complete verification.
(B). Customer Care Method –
- You can also call SBI Card support directly at: 1860 180 1290
- The support executive will guide you through the balance transfer process manually.
đ Practical Tip: Keep your external credit card number, outstanding amount, and registered mobile number ready before calling. This avoids delays during verification.
4. SBI Balance Transfer Rates & Processing Fees
| Plan Option | Monthly Interest Rate | Approx. Annual Rate | Processing Fee* |
|---|---|---|---|
| 60-Day Plan | 0% | 0% | 2% of amount or âš199 |
| 180-Day Plan | 1.70% | Around 20.4% p.a. | âš0 |
| 3-Month EMI | 0.75%â0.83% | Around 9%â10% p.a. | 1.5% or âš199 |
| 6-Month EMI | 1.04%â1.27% | Around 12.5%â15.2% p.a. | 1.5% or âš199 |
*GST applies separately on fees and charges.
đĄ Real-Life Example: Binnu Singh transfers a high-interest âš80,000 debt from his HDFC card to an SBI Card 6-month EMI plan. This simple move immediately slashes his interest rate from 42% down to a low-cost structured payment, saving him thousands in rolling interest charges
5. Important SBI Balance Transfer Rules You Should Know
Before applying for a balance transfer from SBI Card, keep these important conditions in mind to avoid rejection or delays.
- Name Match Is Mandatory: The external credit card must be in your own name. You cannot transfer dues to your friendâs or family memberâs credit card account.
- No SBI-to-SBI Balance Transfer: SBI does not allow balance transfers between two SBI credit cards. The outstanding balance must belong to another bank like HDFC Bank, ICICI Bank, or Axis Bank.
- Processing Time Depends on Card Network: Visa card payments are usually settled electronically within around 3 working days. For some Mastercard or Amex-linked accounts, SBI may mail a physical demand draft/cheque directly to the lender bank within 5 working days.
đĄ Real Human Tip: Many users apply for balance transfer just 1â2 days before the due date and later get charged late fees because the transfer was still under processing. It is always safer to apply at least one week earlier.
Frequently Asked Questions
Can I cancel my SBI Credit Card balance transfer after it’s booked?
Yes. If you file a formal cancellation request with SBI Card customer care within 45 days of booking, all interest and processing fees are reversed. However, note that if the payment was issued via a physical cheque and the source bank has already cleared it, the cancellation loop closes automatically.
Does booking a balance transfer temporarily block my SBI card limit?
Yes. The complete amount approved for the transferâincluding the one-time processing charges and estimated interest overheadsâwill be temporarily blocked from your card’s overall available credit limit. As you clear your installments monthly, your general credit pool opens back up proportionally.
Will my external bank card account close automatically after the transfer?
No. SBI Card only clears the specified payment amount via NEFT or draft. They do not close your external credit card account. If you want to permanently close that other bank card, you must contact its respective customer care branch directly after the balance hits 0.
What happens if I miss paying my monthly balance transfer bill on my SBI card?
If you miss paying the Minimum Amount Due (MAD) on your monthly statement statement, the preferential lower interest rate (or 0% grace offer) will immediately expire. Your account will roll over to standard finance penalties of up to 3.75% per month (45% annually) plus late payment fees.
Can an Add-on SBI cardholder book a balance transfer?
No. The balance transfer and balance transfer on EMI features are strictly restricted to the primary credit card holder account profile. Add-on members do not hold authorizations to leverage the individual asset limits for third-party balance settlement requests.
Read – Top Balance Transfer Credit Cards With Low Rates
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