• Maybank Credit Card Balance Transfer

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    Credit Card Balance Transfer

    A credit card balance is a method of paying off your existing credit card debt by transferring the amount to another bank account. You can transfer any amount up to your credit limit on your new card. This is known to be a great way to save money due to the low interest rate structures offered by most credit card issuers in comparison to high credit card interest rates today. Apart from offering low interest rates as a promotion, they also attract new customers by offering them interest free periods and loyalty points when they avail this facility.

    Maybank Singapore Credit card Balance Transfer

    Maybank, also known as Malaysian Universal Bank is one of Southeast Asia’s leading bank and the largest bank in Malaysia. The bank is spread across 14 different countries in Asia, United Kingdom and United States of America. Their excellent financial services have a network of over 2000 branches worldwide serving customers from all walks of life. From being found by Khoo Teck Puat, a renowned business tycoon in Malaysia in 1960, since then the bank has grown diversely and exponentially, having its strongest presence in Southeast Asia. Since its inception in 1960, Maybank started functioning as a fully commercial bank. With their advanced banking solutions and technology, they continuously strive their customers with reliable, easy and fast service.

    Save significantly when you transfer funds from your Maybank Credit Card to the credit card of any other bank, line of credit and current or savings account. Maybank Fund Transfer guarantees minimum processing fees and 0% interest for the first 6 months.

    Features of Maybank Credit card Fund Transfer

    • Processing fee starts as low as 0.99% with an Effective Interest Rate of 2.13%
    • You can save up to 92% on your cash savings
    • Even supplementary card members can use the fund transfer facility by transferring funds from the principal credit card account to any other credit card or line of credit of any bank

    Maybank Credit card Balance Transfer Rates and Charges

    Please find below options for you to choose from for a tenure of 6 months –

    Note – The values mentioned below have been rounded off for illustrative purpose

    Option A B
    Amount for Fund Transfer SGD 12 000 SGD 2000
    24% interest payable with another credit card/line of credit SGD 1140 SGD 240
    Maybank Interest payable SGD 0 SGD 0
    Processing Fee Charged 0.99% 1.38%
    Effective Rate of Interest 2.13% per annum 2.96% per annum
    Processing Fee Payable SGD 118.80 SGD 27.60
    YOUR CASH SAVINGS SGD 1321 or 92% SGD 212.40 or 89%

    Eligibility

    • All Maybank Credit Card members can apply for Maybank Fund Transfer

    Applying for Maybank Fund Transfer

    • You can download the application form and fill in the details. You can either mail or fax the form to Maybank.
    • You can also apply for Maybank Fund Transfer using Online Banking. Login to your online banking, choose the credit card and then choose Credit Card Fund Transfer.

    Maybank Credit card Balance Transfer Terms and Conditions

    • The Maybank Fund Transfer facility is applicable for both principal and supplementary card members of VISA or MasterCard Credit Card issued by Maybank.
    • Payments must continue to be made until you have received confirmation that the account has been credited successfully.
    • For more details on the Maybank Fund Transfer, or for information on the Terms and Conditions, please feel free to contact Maybank or visit their website.
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