Lost many hours of precious sleep thinking about your list of debts and obligations? Transfer your outstanding credit card balance to an Affin Bank credit card and enjoy a one-time upfront balance transfer fee!
How does the Balance Transfer Installment Plan (BTiP) from Affin Bank work?
Most banks offers annual interest rate for their balance transfer plans. With Affin Bank’s BTiP, you will only need to pay a one-time upfront fee at the first instalment month, which is based on the outstanding balance transferred to your Affin Bank credit card.
The minimum transfer amount is RM1000 depending on installment tenure chosen and not to exceed 90% of your approved credit limit.
Is there an option of minimum repayment?
No, Affin Bank requests the credit card holder to make the repayment in full before the due date. If monthly payments are not made in full, the tiered interest rate of 9.99% to 17.5% p.a. will be imposed on your outstanding amount.
Make sure that you have a good budgeting plan that allows you to make the repayments in full and on time. Otherwise, the interest rate penalty is not worth your effort on this balance transfer.
What will happen if I pay my monthly repayments late?
The charges will be as the same as not paying your monthly repayment in full – a tiered interest rate of 9.99% to 17.5% p.a. will be charged on your credit card’s outstanding balance.
How much is the penalty for early settlement?
In the event that you wish to settle the outstanding amount early, a penalty of RM100 will be imposed upon your decision.
The same penalty will be imposed if you cancel your balance transfer with Affin Bank.