Tired of only chipping away at your mounting credit card debt each month? Get great savings and low interest rates on your outstanding balance with a UOB Balance Transfer Plan.
How does a UOB Balance Transfer work?
Transfer your outstanding credit card balance from other banks to your UOB credit card with UOB Balance Transfer.
You’ll get to repay your debt at lower interest rates, with repayment tenures of up to 18 months. You’re allowed to transfer a minimum of RM1,000 or up to 80% of the credit limit on your UOB account.
The minimum transfer is RM1,000 or up to 80% of the credit limit/available limit, whichever is lower, and your eligibility is subject to the bank's approval.
I am an existing UOB credit card holder. Can I apply for this balance transfer?
Yes. UOB Balance Transfer is made available for all new-to-bank and existing UOB card members. Applications are subject to the bank's review and approval.
Is there an option for minimum monthly repayments?
If you think you're unable to make the monthly repayments in full, you can always opt to pay the minimum monthly repayment. Minimum monthly repayments are 5% of the outstanding balance or RM50, whichever is higher.
What if I fail to repay within the repayment period?
The outstanding balance will be subject to an interest rate of 18% per annum, which is also the highest interest rate your credit card can charge.
Do I need to pay extra charges on early settlement?
You may settle the remaining Balance Transfer outstanding amount before tenure expiry. There will be no early termination penalty.
For more details, check out the terms and conditions and product disclosure sheet on UOB's website.
