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    OCBC Balance Transfer

    OCBC credit cards come with a facility of balance transfer that allows you to transfer the outstanding balance from other bank credit cards onto your OCBC credit card. This helps you increase your savings and handle your finances effectively. The facility comes with a relatively lower interest rate and gives you freedom to choose a repayment tenure that suits your needs.

    OCBC Balance Transfer Programme Rates

    The following is an illustration table containing the interest rates of with the balance transfer facility and how it works:

    Repayment tenure Interest rate Balance transfer amount Interest @18.00% p.a. Balance transfer interest amount Savings
    6 months 1.88% p.a. RM3,000 RM157.50 RM56.40 RM101.10
    6 months 1.88% p.a. RM5,000 RM262.50 RM94.00 RM168.50
    6 months 1.88% p.a. RM10,000 RM525.00 RM188.40 RM337.00
    12 months 3.88% p.a. RM3,000 RM292.50 RM116.40 RM176.10
    12 months 3.88% p.a. RM5,000 RM487.50 RM194.00 RM293.50
    12 months 3.88% p.a. RM10,000 RM975.00 RM388.00 RM587.00

    OCBC Balance Transfer promotion

    New cardmembers can opt for a balance transfer facility on their card at as low as 0.00% p.a. The offer is valid till 31 March 2018 for a minimum of RM1,000.

    Benefits of OCBC Balance Transfer

    The following are the benefits associated with the balance transfer facility:

    • The facility comes with a range of flexible repayment tenures for you to choose from.
    • You can transfer up to RM30,000 using this facility.
    • The scheme doesn’t have any processing or upfront fee.
    • You can transfer up to 80% of your assigned credit limit.
    • You can make a minimum payment for your monthly instalment of RM50 or 6% of the outstanding balance (whichever is higher).
    • The facility comes with two options for you to choose from: balance transfer and flexi balance transfer.

    How to complete OCBC Balance Transfer

    • You can apply for the scheme by contacting the bank via its customer service numbers.
    • You can also put in the request for the same through the official website of the bank by entering your name and email address.

    Terms and conditions

    • The amount applied for must be within the limits of the line of credit associated with the card.
    • The transfers must be made directly from your card. Third party transfers are not allowed.
    • The tenures available with this facility are 6 months and 12 months.
    • After the successful approval of the facility, you cannot make modifications to the amount and tenure chosen.
    • The interest and approved amount do not come under the OCBC Rebate Programme.

    FAQs

    Q. What if I miss paying the monthly instalment associated with the facility?

    A. You will be charged a late payment penalty of 1% of the outstanding amount or a minimum of RM10 (whichever is higher). This amount is capped at RM100.

    Q. What is the minimum amount that I can transfer via this scheme?

    A. The minimum amount transferable via this facility is RM1,000.

    Q. If I decide to settle the entire amount before the tenure ends, will I be charged with any early settlement fee?

    A. No, the facility doesn’t have any early settlement fee.

    Q. How will I know the status of my application and how much amount is approved?

    A. You will get a notification about the status of your application via an SMS.

    Q. Where can I get the application form of balance transfer?

    A. You can get the form at any OCBC branch or download the form from https://www.ocbc.com.my/personal-banking/Cards/download/balancetransferform.pdf.

    Q. Where can I get further details about this facility?

    A. You can get further details:

    • At any OCBC branch.
    • Customer service number: 03-8317 5000

    Other Bank Balance Transfer Plans

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