Name of the Organization : POSB Bank
Type of Facility : Credit Cards Balance Transfer
Country: Singapore
Website : http://www.posb.com.sg/personal/cards/card-services/balance-transfer
POSB Credit Cards Balance Transfer:
Enjoy extra cash starting from 0%* interest!
Related : POSB Bank Overseas Funds Transfer Singapore : www.statusin.org/6235.html
Benefits :
Interest Savings – Enjoy 0% interest rate for up to 12 months.
Flexible repayment – pay from as little as S$50 or 3% of the statement balance, whichever is higher.
Financial Control – consolidate all your other credit cards balances into POSB credit card.
How to Apply
Online Application form
Apply now: https://www.posb.com.sg/iforms/credit-card/balance-transfer-details.page
SMS PROMO<space>BT<space>NRIC to 76060
Our friendly sales officer will contact you for a verbal sign-up.
By completing the online form or sending an SMS to POSB Bank, you agree to POSB Bank contacting you with regards to the promotion even though if you are registered with the DNC registry.
Figures are simplified for illustration purposes.
* The Effective Interest Rate (EIR) is calculated based on an approved Balance Transfer amount of S$10,000 with monthly minimum payment of 3% of amount transferred and full payment of the outstanding amount transferred at the end of the tenure. EIR is subject to compounding if the monthly finance charges are not paid in full. A one-off administration fee of 2.5% and 4.5% for loan tenure of 6 and 12 months respectively will be debited from your POSB Credit Card account accordingly.
^ Interest savings with POSB Credit Card Balance Transfer (for repayment over 6 months or 12 months) when compared to interest rate of 24% p.a. on other credit cards.
Terms and Conditions :
DBS Credit Cards Balance Transfer Terms and Conditions (Ref V6. 31 December 2012)
1. A Balance Transfer application (“BT Application”) may only be made in respect of a personal Credit Card and only by the Principal Cardholder.
2. DBS Points will not be awarded for this BT Application.
3. No cancellation nor change of transfer amount will be allowed after submission of this BT Application.
4. A BT Application must specify a minimum quantum for transfer of at least S$500, up to a maximum of 95% of the available aggregated credit limit on your DBS Card account(s) (“Accounts”) at the time of the BT Application. For DBS Insignia customers, the maximum amount should not exceed S$200,000 or the available aggregated credit limit, whichever is lower.
5. The approval of a BT Application is subject to your Account being in good standing as determined by us.
6. Should a BT Application specify an amount (“Specified Amount”) which exceeds the available credit limit on your stipulated Credit Card account herein (“Credit Card Account”), you hereby instruct that the amount to be transferred shall be the Specified Amount, provided always that the Specified Amount does not cause the aggregated credit limit on your Accounts to exceed:
(i) four times your monthly income;
(ii) such aggregated limit set by us; or
(iii) such other amount as stipulated by any regulatory authority, in which case, DBS may either
(iv) transfer such amount it deems appropriate; or
(v) reject the application, without liability to any party.
7. Any amount transferred will first be drawn from any credit balances available in your Credit Card Account at the point of transfer.
8. The promotional interest rate is applicable only to the amount transferred. Any existing outstanding balances and/or amounts subsequently incurred on your Credit Card Account, including Instalment Payment transactions, will be subject to the prevailing interest rate if these amounts are not paid in full. The promotional interest rate will expire 6 or 12 months from the date we effect the BT Application in respect of the amount transferred. The interest rate will be adjusted to our prevailing interest rate thereafter.
9. A minimum monthly payment of 3% of your statement balance, or S$50, whichever is higher, is required from you. If the said minimum monthly payment is not received by the payment due date, you shall also be liable for a late payment charge at such rate as we may determine.
10. DBS may suspend or terminate your Balance Transfer facility without giving any reasons or notice.