What is a credit card balance transfer?

Question

Accepted Answer

Credit card balance transfer is the process of transferring owed balance from one credit card account to another. Upon carrying out this process, the debt is owed to the new card issuer as opposed to the original card issuer.

Fees & other Parameters	Royale (No Joining Fees)		Royale (With Joining Fees)^		Royale (Free Variant- Exclusively for Kotak Privy League Optima and Insignia Customers)
Joining Fees	Nil		1499.0		Nil
Annual Fees	999.0		999.0		Nil
Condition for waiver of Annual Fees - First Year	Annual Retail Spends of ₹1Lac		Annual Retail Spends of ₹1Lac		NA
Condition for waiver of Annual Fees - Second Year	Annual Retail Spends of ₹1Lac		Annual Retail Spends of ₹1Lac		NA
Addon card Fees	Nil		Nil		Nil
Interest Charges on outstanding Balances	3.5% (Annualized-42%)		3.5% (Annualized-42%)		3.5% (Annualized-42%)
Minimum Amount Due (MAD) (It will reflect in statement in column of minimum amount due)	MAD can be 5% or 10% of TAD as decided by the Bank		MAD can be 5% or 10% of TAD as decided by the Bank		MAD can be 5% or 10% of TAD as decided by the Bank
ATM Cash Withdrawal/ Call a draft/ Fund Transfer/ Cash Advance per Rs. 10,000 or part thereof	2.5% of Advance Amount, subject to minimum of ₹500		2.5% of Advance Amount, subject to minimum of ₹500		2.5% of Advance Amount, subject to minimum of ₹500
Late Payment Charges ("LPC")	Due as per last statement	LPC Charges	Due as per last statement	LPC Charges	Due as per last statement	LPC Charges
	<₹100	0.0	<₹100	0.0	<₹100	0.0
	₹100-₹500	100.0	₹100-₹500	100.0	₹100-₹500	100.0
	₹501-₹5,000	500.0	₹501-₹5,000	500.0	₹501-₹5,000	500.0
	₹5,001-₹10,000	600.0	₹5,001-₹10,000	600.0	₹5,001-₹10,000	600.0
	₹10,001-₹25,000	800.0	₹10,001-₹25,000	800.0	₹10,001-₹25,000	800.0
	₹25,001-₹50,000	1000.0	₹25,001-₹50,000	1000.0	₹25,001-₹50,000	1000.0
	>₹50,000	1200.0	>₹50,000	1200.0	>₹50,000	1200.0
Over Limit Charges	500.0		500.0		500.0
Cheque Bounce Charges	2% of Bounce Amount, subject to minimum of ₹500		2% of Bounce Amount, subject to minimum of ₹500		2% of Bounce Amount, subject to minimum of ₹500
Standing Instruction Failure / Auto-debit return fee	2% of Bounce Amount, subject to minimum of ₹450		2% of Bounce Amount, subject to minimum of ₹450		2% of Bounce Amount, subject to minimum of ₹450
Foreign Currency Mark Up	3.5% + GST		3.5% + GST		3.5% + GST
Railway Booking Surcharge (1.8%/2.5% on transaction amount)*	Waived		Waived		Waived
Fuel Surcharge (1% on transaction)**	Waived		Waived		Waived
Fee for Cash payment at Bank	100.0		100.0		100.0
Outstation Cheque Processing Fee	Waived		Waived		Waived
Reissue/ Replacement Card (per issunace)	100.0		100.0		100.0
Charge Slip Request	Waived		Waived		Waived
Machine Surcharge at ATMs	Waived		Waived		Waived
Balance Enquiry Charges at Non Parent Bank ATM	Waived		Waived		Waived
Duplicate Statement Request	Waived		Waived		Waived
Web Pay Service Fee	Waived		Waived		Waived
Please Note: GST/Applicable taxes, would be charged as per the rates approved in the Finance Act each year on all interest & fees and other charges levied on your Credit Card Maximum Railway surcharge waiver of Rs. 500 in a calendar year * Fuel surcharge to be waived only for transactions between values of Rs. 500 - Rs. 3000. Maximum Fuel surcharge waiver of Rs. 3500 in a calendar year ^Joining fee variant of Royale Signature Credit Card has been discontinued effective 30th May 2019

Royale Signature Credit Card

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What is a credit card balance transfer?

Royale Signature Credit Card

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Frequently Asked Questions

What is a credit card balance transfer?

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