Balance Transfer

Details	Charges
Interest Rate	Up to 3% monthly
Processing Fee	Up to 4.2%
Early Settlement Charge	2% to 5% or AED 300, whichever is higher

Details

Charges

Interest Rate

Up to 3% monthly

Processing Fee

Up to 4.2%

Early Settlement Charge

2% to 5% or AED 300, whichever is higher

There is no fixed instalment to be paid every month, however payment of minimum amount due as per the statement is required
A one time processing fee will be charged to you credit card account, when the balance transfer amount is debited from the credit card’s available limit.
The 180 days will be calculated from the day the loan amount is debited from the credit card available limit irrespective of your billing and due date
After 180 days, the remaining balance loan amount will be added to the card outstanding and normal credit card interest rate will be charged.
Any payment towards the credit card within the loan period first pays off any Equal Monthly Instalments (EMI) due in the month ,then, all fees and interest are cleared, followed by 1% of Balance Transfer outstanding, Smart Payment Plan outstanding and 1% of retail outstanding in that order.

The remaining amount of payment will go towards clearing 100% of the Retail outstanding followed by Balance Transfer and Smart Payment plan.
The amount taken from the Balance Transfer will be blocked on the credit card. Blocked amount will be released upon each monthly payment made.
Balance Transfer will not be processed in case the retail balance is less than the amount for booking at the time of processing the plan. Hence, credit card balance should be maintained till the funds get transferred to your personal account
Processing time for the loan is approximately 2 to 3 working days
Balance Transfer request will be processed subject to clearance at beneficiary Bank
The Bank has the sole discretion to accept or reject any Balance Transfer application.
The Balance Transfer transaction amount(s) will be debited to the Standard Chartered Credit Card and will be remitted to the other bank within the United Arab Emirates (“UAE”) by way of a Central Bank transfer within 3 working days from the date of approval of the application.
Payments to the other banks should continue to be made until the balance has been transferred.
The Bank will not be liable for payment of any overdue charges, late payment fees, finance charges, or any other charges/liabilities on other credit cards mentioned above that may occur due to any payment delay.
The interest rate applied on the outstanding Balance Transfer amount shall be 0% (Zero %), for a period of six months from approval of the application, where after the prevailing base interest rate will apply. All other outstandings on the credit card account shall continue being levied interest at the prevailing interest rate.
The Bank reserves its right to cancel the offer and charge interest on the transferred amount at the prevailing interest rate from the Balance Transfer date, in the event of failure to pay the minimum amount due on the payment due date.
It is important to set the monthly “Minimum Amount Due” payment at less than 100% to avail the lower interest rate. Otherwise 100% of the outstanding will be cleared when the standing instruction is executed.
These terms and conditions are in addition to the other terms and conditions applicable to all credit card accounts as contained in the Credit Card Terms and Conditions.
Credit Card Terms and Conditions here.
All credit card transactions made during the tenor of the BT will accrue interest from the transaction date till the payment date, at the card’s interest rate. This will reflect in the following month’s statement.

Disclaimer

Transfer your balance and enjoy a convenient payment plan

Balance Transfer

Simple

Low costs

No transfer limit

Easy monthly payment

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