A balance transfer
allows you to transfer the ‘credit card balance’ that you owe in one bank to
the other bank. This service allows you to reduce the interest (17.5% per year)
that you are paying the banks to as low as 0% for 3 months. However, please
take note that the ‘0% for 3 months’ will expire after three months and the
interest will return to 17.5% per year.
The following are some of the best balance transfer rates
available in Malaysia:
|
Banks
|
Balance Transfer
Rates
|
Balance Transfer
Tenure
|
|
Maybank
|
0%
|
12 months
|
|
CIMB
|
0%
|
6 months
|
|
Hong Leong
|
0.5 % per month
|
6 months
|
|
RHB
|
3% onetime interest
charge
|
12 months
|
|
HSBC
|
5.99% per year
|
12 months
|
*Note:
Please check with the banks for updates.
