In case you have trouble paying your credit card bills on time and stuck in a debt trap, this plan could possibly be the ultimate solution for you. So, an individual may simply transfer the outstanding balances from their car to the RHB Credit card and hence pay the bills at lowers interests spread through comfortable instalments. Sound cool? Hence, it should be checked out as it has limitless features and benefits for clearing your credit card debt issues.
The RHB Smart Move Balance Transfer is a balance transfer programme that allows you to transfer your outstanding balances from other credit card/charge card to RHB Credit Card. Transfer your outstanding balances today to enjoy:
The following table shows how the plan works in various tenures:
|Minimum Balance Transfer Amount (RM)||1,000||1,000||1,000||3,000||3,000|
|Interest Rate (One Time Charge)||4%||7%||10%||1.99%||4%|
|Effective Interest Rate (Per Annum)||7.30%||8.67%||9.32%||4.75%||5.93%|
|One Time Interest Charge||40||70||100||59.7||120|
|(RM - based on Minimum Balance Transfer Amount)|
|Monthly Repayment (RM)||86.66||59.44||45.83||339.97||208|
The Minimum Monthly Payment for the account is RM50 or 5% of the outstanding amount. There are no early termination charges for this product. The basic interest fees and charges for RHB Smart Move Balance Transfer has the following low interest rates:
|Pay Over||With Interest Rate At (one-time upfront handling fee)||When You Transfer|
|9 months||1.99%||from RM3000|
|12 months||4%||from RM1000|
|15 months||4%||from RM3000|
|18 months||7%||from RM1000|
|24 months||10%||from RM1000|
RHB Smart Move Balance Transfer is offering a one-time interest rate which can be as low as 1.99% for each year and for up to 24 months when the individual transfers existing debt from other banks' credit cards to the RHB credit card. There is of course a one-time upfront interest charge which ranges between RM40 and RM120, with a minimum balance transfer amount requirement of RM1, 000.
Yes, if the monthly budget is not enough, the individual can choose to make the minimum repayment of 5% of the outstanding balance or RM50, whichever is higher.
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, the interest rate of their balance transfer will revert back to their highest limit of 18% every month.
There are no early settlement fees with RHB Smart Move Balance Transfer. So it gives you the leverage to pay off your debt incase you have the funds to do so.