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Best Balance Transfer Singapore 2018

Looking for best balance transfer in Singapore 2018? We have come up with a list of balance transfer rates in Singapore for your easy reference and comparison so that you can choose the best promotion that suits your needs.

This list consists of various banks offering their fund transfer promotions, having different interest rates (as low as 0%) and transfer fee for their line of credit and credit cards.

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Do remember to return the loan amount back before the tenure ends. After which, the prevailing interest rate will apply which is very high!

Tip: If you are unable to repay back the money within the promotion rates period, find another good promotion from another bank to pay back the first bank so that you are not paying the more expensive interest rates.

Check out these attractive FD rates too!

DBS Balance Transfer (Cashline / Credit Card)

  • 6-month tenure
    • Interest rate: 0%
    • One-time administration fee: 2.50% p.a.
    • Effective interest rate for credit cards: 5.34% p.a.
    • Effective interest rate for Cashline: 5.27% p.a.
  • 12-month tenure
    • Interest rate: 0% p.a.
    • One-time administration fee: 4.50%
    • Effective interest rate for credit cards: 5.20% p.a.
    • Effective interest rate for Cashline: 5.06% p.a.
  • Minimal monthly repayment (whichever is higher):
    • Cashline: S$50 or 2.50% of the outstanding balance.
    • Card card: S$50 or 3.00% of the outstanding balance.
DBS Cashline Balance Transfer
Photo Credit: DBS

Citibank Balance Transfer (Ready Credit / Credit Card)

For new customers:

  • 3-month tenure
    • Interest rate: 0%
    • One-time processing fee: 1.58% p.a.
    • Effective interest rate for credit cards: 6.73% p.a.
    • Effective interest rate for Ready Credit: 6.69% p.a.
  • 6-month tenure
    • Interest rate: 0%
    • One-time processing fee: 1.58% p.a.
    • Effective interest rate for credit cards: 3.65% p.a.
    • Effective interest rate for Ready Credit: 3.60% p.a.
Citibank Balance Transfer (New)
Photo Credit: Citibank

For existing customers:

  • 6-month tenure
    • Interest rate: 0%
    • One-time processing fee: 2.50% p.a.
    • Effective interest rate for credit cards: 5.81% p.a.
    • Effective interest rate for Ready Credit: 5.72% p.a.
  • 12-month tenure
    • Interest rate: 0%
    • One-time processing fee: 5.50% p.a.
    • Effective interest rate for credit cards: 7.87% p.a.
    • Effective interest rate for Ready Credit: 7.58% p.a.
Citibank Balance Transfer (Existing)
Photo Credit: Citibank
  • Minimal monthly repayment (whichever is higher):
    • Ready Credit: S$45 or 3.00% of the transfer amount.
    • Card card: S$50 or 1.00% of the transfer amount.

UOB Funds Transfer (CashPlus / Credit Card)

  • 6-month tenure
    • Interest rate: 0%
    • One-time processing fee: 2.50% p.a.
    • Effective interest rate with UOB credit cards: 5.34% p.a.
    • Effective interest rate with UOB CashPlus: 5.27% p.a.
  • 12-month tenure
    • Interest rate: 0%
    • One-time processing fee: 3.88% p.a.
    • Effective interest rate with UOB credit cards: 4.49% p.a.
    • Effective interest rate with UOB CashPlus: 4.37% p.a.
  • 18-month tenure
    • Interest rate: 0%
    • One-time processing fee: 4.88% p.a.
    • Effective interest rate with UOB credit cards: 4.09% p.a.
    • Effective interest rate with UOB CashPlus: 3.92% p.a.
  • Minimal monthly repayment (whichever is higher):
    • CashPlus: S$30 or 2.50% of statement balance.
    • Card cards: S$50 or 3.00% of statement balance.
UOB Funds Transfer
Photo Credit: UOB

Maybank Fund Transfer (CreditAble)

  • 6-month tenure
    • Amount: Min S$2,000
      • Interest rate: 0%
      • One-time processing fee: 1.88% p.a.
      • Effective interest rate: 4.02% p.a.
    • Amount: Min S$10,000
      • Interest rate: 0%
      • One-time processing fee: 1.38% p.a.
      • Effective interest rate: 2.96% p.a.
  • 12-month tenure
    • Amount: Min S$2,000
      • Interest rate: 4.99% p.a.
      • One-time processing fee: 0%
      • Effective interest rate: 4.99% p.a.
  • Minimal monthly repayment (whichever is higher): S$10 or 3% of the total amount due.
Maybank Fund Transfer
Photo Credit: Maybank

HSBC Balance Transfer (Personal Line of Credit)

  • 6-month tenure
    • Amount < S$10,000
      • Interest rate: 0%
      • One-time processing fee: 1.38% p.a.
      • Effective interest rate: 3.00% p.a.
    • Amount ≥ S$10,000
      • Interest rate: 0%
      • One-time processing fee: 1.00% p.a.
      • Effective interest rate: 2.17% p.a.
  • 12-month tenure
    • Amount < S$10,000
      • Interest rate: 4.88% p.a.
      • One-time processing fee: 0%
      • Effective interest rate: 4.88% p.a.
    • Amount ≥ S$10,000
      • Interest rate: 4.88% p.a.
      • One-time processing fee: 0%
      • Effective interest rate: 4.88% p.a.
  • Minimal monthly repayment (whichever is higher): S$15 or 3% of the outstanding amount.
HSBC Balance Transfer
Photo Credit: HSBC

Standard Chartered Funds Transfer (Credit Card)

  • 6-month tenure
    • Interest rate: 0%
    • One-time processing fee: 1.99% p.a.
    • Effective interest rate: 4.12% p.a.
  • 12-month tenure
    • Interest rate: 4.50% p.a.
    • One-time processing fee: 0%
    • Effective interest rate: 4.86% p.a.
  • Minimal monthly repayment (whichever is higher): S$50 or 1% of your principal plus interest, fees and charges.
Standard Chartered Funds Transfer
Photo Credit: Standard Chartered

OCBC Balance Transfer (EasiCredit / Credit Card)

  • 3-month tenure
    • Interest rate: 0%
    • One-time processing fee: 1.80% p.a.
    • Effective interest rate: 7.38% p.a.
  • 6-month tenure
    • Interest rate: 0%
    • One-time processing fee: 2.50% p.a.
    • Effective interest rate: 5.34% p.a.
  • 12-month tenure
    • Interest rate: 0%
    • One-time processing fee: 4.50%
    • Effective interest rate: 5.20% p.a.
  • Minimal monthly repayment (whichever is higher): S$50 or 3% of your total outstanding balance.
OCBC funds transfer
Photo Credit: OCBC

Bank Of China (BOC) Fund Transfer (MoneyPlus / Credit Card)

  • 3-month tenure
    • Interest rate: 0%
    • One-time processing fee: 1.80% p.a.
    • Effective interest rate: 7.49% p.a.
  • 6-month tenure
    • Interest rate: 0%
    • One-time processing fee: 3.00% p.a.
    • Effective interest rate: 6.38% p.a.
BOC Fund Transfer
Photo Credit: BOC

We hope you are able to find the best balance transfer promotion for your needs.

Updated: Dec 3, 2018 @ 11:09 pm