Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Credit Card BYTES FROM OUR KITCHEN

    AFFINBANK Balance Transfer

    The AFFINBANK Balance Transfer instalment Plan is an opportunity to facilitate AFFINBANK credit card members to be able to transfer other Banks outstanding balances to AFFINBANK and enjoy competitive interest charges as low as 0%. Note that the plan has validity dates authorised by the bank. Please check the dates before you apply for the same.

    Features and Benefits of AFFINBANK Balance Transfer instalment Plan

    The AFFINBANK Balance Transfer instalment Plan is a balance transfer programme that allows you to transfer your outstanding balances from other credit card/charge card to AFFIN Credit Card. Transfer your outstanding balances today to enjoy:

    • Interest rates start from, as reasonable as 2% p.a.
    • You can take up to 36 months to pay for the instalments in full.
    • No interest to be paid for 6 month option.
    • There is no setup fee required to avail this option.
    • You have the option of choosing from up to 8 cards

    The following table shows how the plan works in various tenures:

    Tenure % (One time upfront charges) Minimum transfer
    6 0% RM 5,000
    12 4% RM 1,000
    18 7% RM 1,000
    24 9% RM 1,000

    Eligibility Requirements for AFFINBANK Balance Transfer Instalment Plan

    Criteria:-

    • Balance Transfer Instalment Plan is applicable for AFFINBANK principal credit card members only.
    • Balance transfer amount shall not exceed 90% of the approved credit limit subject to available credit limit.
    • Minimum Balance transfer amount is RM5, 000 for 6 month tenure and RM1, 000 for 12, 18 and 24 months tenure.

    Documents:-

    • Balance Transfer Instalment Plan application form.
    • A copy of other’s bank latest Credit Card statement

    Fees and Charges for AFFINBANK Balance Transfer Installment Plan

    The minimum monthly payment is RM50 or 5% of outstanding amount. Also, early settlement fee is chargeable at RM 100.

    How Does AFFINBANK Balance Transfer Instalment Plan Work

    1. The Balance transfer application form can be obtained at any Affin Bank branch.
    2. The individual needs to complete the form and hence submit to any Affin Bank branches or fax the documents mentioned along with the application form to Affin Bank cards business at 03-7804-0750.
    3. You have to then choose from the tenure options of 6, 12, 18 or 24 months before completion.

    FAQ’s for AFFINBANK Balance Transfer

    1. What is the penalty charged if the Balance Transfer amount was fully paid or if the credit card was cancelled before the tenure has been completed?

    2. The penalty chargeable for such a case is RM100 if the Balance Transfer amount was fully paid or if the credit card was cancelled before the tenure has been completed.

    3. What if someone fails to pay their monthly instalments?

    4. If someone does fail to make their monthly instalments, the whole purpose of taking up a balance transfer with a lower interest rate will be defeated. In such a case, Tiered interest rates of 9.99% or 17.5% p.a. will be levied on the overdue or outstanding amount not paid in full.

    5. Do credit card members enjoy Affin Bonus of up to 0.8% for balance transfer transaction?

    6. No. There is no bonus advantaged offered for the balance transfer transaction.

    7. How do existing AFFINBANK credit card members participate in this Balance Transfer Instalment Plan?

    8. Balance transfer application form can be obtained at any AFFINBANK branches and online as well. The form can be submitted through any AFFINBANK branches near the applicant with the required documents. They can also fax the details and documents to AFFINBANK Cards Business at 03-7804 0750.

    9. When and how the card member will know if the balance transfer application has been approved?

    10. Successful Balance Transfer instalment Plan is immediately reflected in the card member’s credit card monthly statement. Card members are also advised to check their credit card monthly statement at a regular basis.

    Other Bank Balance Transfer Plans

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