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.
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    Maybank Balance Transfer

    Balance from your credit card can be transferred to another credit card to save on the interest amount that you are paying or to avail other benefits on the card. Maybank also offers Balance Transfer Programme to save on your charges when you transfer the balance to another card.

    Features and benefits of Maybank Balance Transfer Programme

    Features and benefits of the balance transfer programme offered by Maybank are as follows:

    • You can save more with lower rates of interest.
    • You can choose from 5 plans to suit your requirement.
    • The loan repayment period available is up to 36 months.
    • You can get extra cash to meet your needs.
    • The credit card accounts can be consolidated into one statement.
    • The payments can be made through the banks official website or you can also visit the nearest branch.
    • Principal cardholders of Maybank credit cards can apply for the Balance Transfer Programme.
    • Interest rates offered are low and you can save in the following manner:
    Balance transfer rate and tenure Balance transfer amount Normal Finance charges at 18% per annum Finance charges with balance transfer Savings
    0.5% per month for 6 months RM1,000 RM82.33 RM26.80 RM55.33
    RM3,000 RM246.99 RM80.41 RM166.58
    RM5,000 RM411.65 RM134.02 RM277.63
    RM10,000 RM823.30 RM268.04 RM555.26
    0.75% per month for 9 months RM1,000 RM117.22 RM57.01 RM60.21
    RM3,000 RM351.67 RM171.03 RM180.64
    RM5,000 RM586.11 RM285.05 RM301.06
    RM10,000 RM1,172.22 RM570.10 RM602.12
    0% per month for 12 months RM1,000 RM148.50 RM0 RM148.50
    RM3,000 RM445.51 RM0 RM445.51
    RM5,000 RM742.52 RM0 RM742.52
    RM10,000 RM1,485.05 RM0 RM1,485.05
    0.375 per month for 24 months RM1,000 RM488.90 RM180 RM308.90
    RM3,000 RM1,222.24 RM450 RM772.24
    RM5,000 RM1,955.58 RM720 RM1,235.58
    RM10,000 RM2,444.48 RM900 RM1,544.48
    0.413% per month for 36 months RM1,000 RM612.87 RM297.36 RM315.51
    RM3,000 RM1,532.17 RM743.40 RM788.77
    RM5,000 RM2,451.47 RM1,189.44 RM1,262.03
    RM10,000 RM3,064.24 RM1,486.80 RM1,577.44

    The interest savings are compared to finance charges at 18% and 5% minimum monthly payment.

    Balance transfer flexi plan is applicable for 6 and 9 month plans.

    3% upfront fee is applicable for 12 months balance transfer plan.

    • You can also avail Maybank Islamic Ikhwan Credit balance transfer rates. The savings and charges are illustrated as follows:
    Balance transfer rate and tenure Balance transfer amount Normal Finance charges at 18% per annum Finance charges with balance transfer Savings
    0.5% per month for 6 months RM1,000 RM82.33 RM30 RM52.33
    RM3,000 RM246.99 RM90 RM156.99
    RM5,000 RM411.65 RM150 RM261.65
    RM10,000 RM823.30 RM300 RM523.30
    0.75% per month for 9 months RM1,000 RM117.22 RM67.50 RM49.72
    RM3,000 RM351.67 RM202.50 RM149.17
    RM5,000 RM586.11 RM337.50 RM248.61
    RM10,000 RM1,172.22 RM675 RM497.22
    0% per month for 12 months RM1,000 RM148.50 RM0 RM148.50
    RM3,000 RM445.51 RM0 RM445.51
    RM5,000 RM742.52 RM0 RM742.52
    RM10,000 RM1,485.05 RM0 RM1,485.05
    0.375 per month for 24 months RM1,000 RM488.90 RM180 RM308.90
    RM3,000 RM1,222.24 RM450 RM772.24
    RM5,000 RM1,955.58 RM720 RM1,235.58
    RM10,000 RM2,444.48 RM900 RM1,544.48
    0.413% per month for 36 months RM1,000 RM612.87 RM297.36 RM315.51
    RM3,000 RM1,532.17 RM743.40 RM788.77
    RM5,000 RM2,451.47 RM1,189.44 RM1,262.03
    RM10,000 RM3,064.24 RM1,486.80 RM1,577.44

    How to apply forMaybank Balance Transfer Programme

    To avail the balance transfer programme from Maybank, follow the following steps:

    • Print out the application form from the official website. There are two forms, that is Maybank Credit Card Balance Transfer application form and Maybank Islamic Ikhwan Card Balance Transfer application form.
    • Choose the transfer plan.
    • Fill in the amount that you wish to transfer.
    • Attach a photocopy of your other bank’s latest credit card statement that you wish to transfer from.
    • Fax it or mail it to Maybank.

    Maybank Balance Transfer FAQ’s

    1. Who can opt for Maybank Balance Transfer Programme?

    2. only Maybank Principal Cardholder can apply for Maybank Balance Transfer Programme.

    3. What is the minimum amount that can be transferred?

    4. The minimum amount that can be transferred is RM1, 000 for 6 and 9 months and RM2, 000 for 24 and 36 months.

    5. What is the maximum amount that can be transferred?

    6. The maximum amount that can be transferred is based on the available credit card limit. The maximum balance transfer for 12 months is capped at RM50, 000 per transaction.

    7. Is there an upfront fee charged?

    8. Yes, you will be charged an upfront fee at 3% from the approved amount.

    9. How many balance transfers are available?

    10. You can transfer the balance from 3 banks at one time.

    11. How can I make the monthly payments?

    12. The monthly payments can be made through Maybank2u online banking.

    13. What is the longest repayment period offered?

    14. The longest repayment tenure offered is 36 months.

    15. Will a new account be opened for serving the programme?

    16. For 6 and 9 months plan, new account will be opened and you must make the payments to that account. For 12, 24 and 36 months plan, no new account is allocated.

    Other Bank Balance Transfer Plans

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