(Article updated on 24 April 2024.)

Even during regular days, credit card balance transfer programmes are a good strategy to fall back on if you’re swamped with credit card debts that you can’t repay on time. Those who are familiar with credit cards will know that the finance charges charged on outstanding balances can quickly go out of control, given that the rate typically stands between 15% to 18%.

Knowing this, it is safe to say that most balance transfer plans can offer you a much better rate. Like, much better, as it is not uncommon for balance transfer packages in the market to entice newcomers with 0%-interest periods and promotional interest rates. That said, you do need at least two credit cards to be able to do balance transfers.

Here, we’ll share a list of some available balance transfer promotions that you can tap into, along with the non-promotional balance transfer plans that you can also check out!

Best balance transfer promotions in Malaysia

Aeon Credit

(Balance Transfer Promo)

Campaign period: N/A

Interest Rate	Minimum Transfer	Maximum Transfer	Tenure	Eligibility
– 0% p.a. (6 months) – 3% upfront (12 months) – 3.99% p.a. (18 months) – 4.50% p.a. (24 months) – 5.99% p.a. (36 months)	RM1,000	N/A	– 6 months – 12 months – 18 months – 24 months – 36 months	– 0% promo (6 months) only for selected cardholders – All principal cardholders

Affin Bank

(Balance Transfer Promo for New Cardholders)

Campaign period: 1 Jan – 31 Dec 2024

Interest Rate	Minimum Transfer	Maximum Transfer	Tenure	Eligibility
0% p.a.	RM2,000	Up to 80% of available credit	12 months	New-to-bank cardmembers only
– 0% upfront interest/profit rate – 1.5% upfront interest/profit rate	RM2,000	– RM50,000 or 80% of approved/available credit limit, whichever is lower (0% p.a.) – 80% of the approved/available credit limit, whichever is lower (1.5% p.a.)	12 months	Existing cardmembers only

Alliance Bank

(Balance Transfer Promo for New Cardholders)

Campaign period: 1 Jan – 31 Dec 2024

Interest Rate	Minimum Transfer	Maximum Transfer	Tenure	Eligibility
0% p.a.	RM1,000	Up to 80% of available credit	6 months	New-to-bank cardmembers only

Hong Leong Bank

(Balance Transfer Promo)

Campaign period: 1 Jan – 30 Apr 2024

Interest Rate	Minimum Transfer	Maximum Transfer	Tenure	Eligibility
6-month tenure – 2.98% p.a. (one-time fee) 12-month tenure – 3.98% p.a. (one-time fee) – 5.28% p.a. (monthly interest) Lifetime tenure – 5.50% p.a. (monthly interest, for transfers from RM1,000 to RM49,999) – 4.99% p.a. (monthly interest, for transfers of RM50,000 and above)	RM1,000 or RM50,000, depending on your selected plan	90% of available credit limit	– 6 months – 12 months – Lifetime	All cardholders

HSBC Bank

(HSBC Balance Transfer Instalment at 0% Interest Rate)

Campaign period: N/A

Interest Rate	Minimum Transfer	Maximum Transfer	Tenure	Eligibility
0% p.a.	RM1,000	Up to 80% of total available credit limit	3 months	New-to-bank cardmembers only

Maybank

(Maybank Balance Transfer promo)

Campaign period: 22 Apr to 31 July 2024

Interest rate	Minimum transfer	Maximum transfer	Tenure	Eligibility
0% p.a. with no upfront fee	RM1,000	RM50,000 (subject to 90% of your available credit limit)	12 months	All new and existing cardmembers

Public Bank

(PB Balance Transfer)

Campaign period: 1 Jan to 30 June 2024

Interest Rate	Minimum Transfer	Maximum Transfer	Tenure	Eligibility
6 months – 1% upfront interest 12 months – 2.5% upfront interest 24 months – 4.5% upfront interest 36 months – 6.5% upfront interest 48 months – 9.5% upfront interest	RM1,000	80% of available approved credit limit	– 6 months – 12 months – 24 months – 36 months – 48 months	For principal credit card/credit card-i members

RHB Bank

(BTCX Campaign)

Campaign period: 1 Jan to 31 Dec 2024

Interest Rate	Minimum Transfer	Maximum Transfer	Tenure	Eligibility
0% p.a.	RM1,000	RM30,000, subject to available credit limit	12 months	New credit cardholders only

RHB Bank

(Balance Transfer Promo)

Campaign period: 1 Feb to 30 June 2024

Interest Rate	Minimum Transfer	Maximum Transfer	Tenure	Eligibility
3.88% p.a.	RM1,000	80% of available credit limit	– 12 months – 24 months – 36 months	All principal cardholders

UOB Bank

(UOB Balance Transfer Programme)

Campaign period: Until 30 April 2024

Interest rate	Minimum Transfer	Maximum Transfer	Tenure	Eligibility
New customers – 0% upfront interest (6 months) – 1% upfront interest (12 months) Existing customers – 1% upfront interest (6 months) – 2% upfront interest (12 months)	RM1,000	Up to 80% of credit limit or available limit, whichever lower	– 6 months – 12 months	New and existing cardholders

Non-promotional balance transfer programmes by banks in Malaysia

Aside from the promotions provided by the banks above, here is also a list of some of the better balance transfer plans that are currently available in the market:

Bank	Interest Rate	Minimum Transfer	Maximum Transfer	Tenure
Affin Bank (Balance Transfer Installment Plan)	One-time upfront interest – 2% (6 months) – 4% (12 months) – 5% (18 months) – 6% (24 months) – 7% (36 months)	– RM1,000 (6 and 12 months) – RM2,000 (18 and 24 months) – RM3,000 (36 months)	Up to 90% of approved credit limit	– 6 months – 12 months – 18 months – 24 months – 36 months
Alliance Bank (Balance Transfer 9.88 Programme)	– 0% p.a. (6 months) – 9.88% p.a. (12, 18, and 24 months)	RM1,000	N/A	– 6 months – 12 month – 18 months – 24 months
CIMB (Balance Transfer Programme)	Plan A – 5.99% p.a. Plan B – 7.99% p.a.	RM1,000	Up to 80% of credit limit	Plan A – 6 months Plan B – 12 months
Hong Leong Bank (One-Time Upfront Fee Balance Transfer – For both new and existing HLB credit cardholders)	6 months – 3% (one-time fee for 6 months) 12 months – 5% (one-time fee for 12 months)	RM1,000	90% of available approved credit limit	– 6 months – 12 months
Hong Leong Bank (Balance Transfer Programme – Monthly Interest – for existing HLB credit cardholders only)	6 months – 7.99% p.a. (offline rate) – 6.99% p.a. (online rate) 12 months – 8.99% p.a. (offline rate) – 6.99% p.a. (online rate)	RM1,000	Subject to available credit limit and the bank’s discretion	– 6 months – 12 months
Hong Leong Bank (Connect Exclusive Plan) For existing HLB credit cardholders who submit applications through HLB Connect	6.99% p.a.	RM1,000	Subject to available credit limit and the bank’s discretion	– 6 months – 12 months
Hong Leong Bank (Lifetime Balance Transfer Programme/Balance Transfer Birthday Offer) For new HLB cardholders During the birthday month of existing HLB cardholders	4.99% p.a. (online and offline rate)	RM1,000	Subject to available credit limit and the bank’s discretion	No fixed repayment period
HSBC (Balance Transfer Instalment)	7.88% p.a.	RM1,000	Subject to available approved credit limit	– 6 months – 12 months – 24 months – 36 months
Maybank (Balance Transfer/Balance Transfer-i Plan)	6 months – 0% p.a., with a 1.88% upfront fee (via Maybank2u only) 9 months – 9% p.a. 12 months – 0% p.a., with a 3% upfront fee (if maximum transfer is RM50,000) – 12% p.a. (if maximum transfer is 90% of available credit limit) 24 months – 4.5% p.a. 36 months – 4.95% p.a.	6 months – RM1,000 9 months – RM1,000 12 months – RM1,000 24 months – RM1,000 36 months – RM2,000	6 months – RM50,000 9 months – 90% of available credit limit 12 months – RM50,000- 90% of available credit limit 24 months – 90% of available credit limit 36 months – 90% of available credit limit	– 6 months – 9 months – 12 months – 24 months – 36 months
OCBC   (Balance Transfer)	– 2.88% (upfront interest for 6 months)   – 4.88% (upfront interest for 12 months)	RM1,000	80% of available approved credit limit	– 6 months   – 12 months
Standard Chartered (Balance Transfer Plus)	5.99% p.a.	RM1,000	Subject to available credit limit and the bank’s discretion	– 12 months – 18 months – 24 months – 36 months
UOB (Balance Transfer Reducing Balance Programme)	Plan 25 – 3% (upfront interest) Plan 26 – 4% (upfront interest) Plan 27 – 5% (upfront interest)	RM1,000	– 80% of available approved credit limit	Plan 25 – 6 months Plan 26 – 12 months Plan 27 – 18 months
UOB (Balance Transfer Instalment Programme)	Up to 9.20% p.a.	RM1,000	– 80% of available approved credit limit	– 6 months – 12 months – 24 months – 36 months – 48 months – 60 months

***

As you tap into the benefits of balance transfer programmes to help you repay your credit card debts, make sure to always exercise some financial responsibility. It is crucial that you remain prompt with your monthly repayments, or you will still be hit with the standard credit card interest charge. Remember that balance transfers are not free money, but helps you repay outstanding credit card debt.

• TAGS:
• Affin Bank
• Alliance Bank
• AmBank
• CIMB
• CIMB Bank
• Citibank
• Hong Leong Bank
• HSBC
• Longform
• Maybank
• OCBC
• Public Bank
• RHB Bank
• Standard Chartered
• UOB