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Axis Bank Credit Card Balance Transfer allows cardholders to consolidate outstanding amount on different credit cards into one account. For this facility, the bank charges interest rate at reducing balance method and a processing fee. A balance transfer is useful for cardholders who are struggling to clear their dues. The details of Axis Bank Credit Card Balance Transfer are given below.
Key Highlights of Axis Bank Credit Card Balance Transfer |
Eligibility | Benefits | How to Apply | FAQs |
Cardholders may be charged one of the following interest rates per month based on the bank’s internal policies.
The processing fee of 1.5% of the amount or a minimum fee of Rs. 250 will also be charged.
Pre-closure charge of 3% of the Outstanding Principal Amount of the loan /Min. Rs. 300 will be applied if the customer clears the amount before the end of tenure.
All, existing Axis Bank credit cardholders can apply for the balance transfer. This may be subject to the cardholder’s available credit limit, repayment behaviour and the bank’s internal policies. No documents are needed for Axis Bank Credit Card Balance Transfer.
However, users who would like to apply for a new Axis Bank credit card to transfer balances from other cards must meet the eligibility criteria for the selected card variant. The basic eligibility criteria can be found here. KYC documents will also be required at the time of application.
Cardholders can convert their Statement Balance into EMI by calling Axis Bank credit card customer care number at 1860 419 5555 or 1860 500 5555.
Note: Customers must contact the bank within 15 days of current Statement Date or 5 days before the current Payment Due Date for availing the balance transfer facility.
Suggested Read – How to Get Out of Credit Card Debt
Reduced Financial Burden – Axis Bank balance transfer rate starts at 1% p.m. while credit card interest rates are around 3.5% p.m. Lower interest rate will result in less financial burden on the cardholder.
Credit Score – Timely payments will stabilize the user’s credit score and might even improve it. Timely payments will be easier if the customer is charged less interest. Moreover, users can consolidate their entire outstanding amount into one card account. This will ensure they do not forget to make payments.
Additional Benefits – Axis Bank, from time to time, offers teaser rates and other introductory offers. These benefits may include interest-free periods, lower interest rates, etc.
Does Axis Bank provide the Balance Transfer facility on corporate credit cards?
No, Axis Bank doesn’t provide balance transfer facility on corporate credit cards.
What is the minimum & maximum amount for which I can apply for Balance Transfer?
The minimum amount is Rs. 5,000. The maximum amount is a percentage of the credit limit offered by Axis Bank to the cardholder.
Can I cancel the Balance Transfer facility post booking?
Yes, you may avail the free lookup period, foreclosure fee will not be charged, if you place the cancellation request within 10 days from booking. Afterwards, fore-closure charges will become applicable.
I have applied for Axis Bank balance transfer but haven’t received the issued amount?
If you haven’t received word from Axis Bank after applying for balance transfer facility then contact Axis Bank credit card customer centre. Dial any one of the given numbers: 1860 419 5555 | 1860 500 5555.
Is it possible to avail the Axis Bank Balance Transfer facility to clear outstanding amount on another Axis Bank Credit Card?
No, you can only transfer the outstanding amount from other bank’s credit card to Axis Bank credit card.
Please Note: Axis Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.
