There is no shortage of balance transfer offers in Malaysia and OCBC is the latest bank to offer its 6-12 month tiered low interest Balance Transfer programme.

With this offer existing OCBC credit cardmembers are eligible to make a balance transfer of not more than 90% of their outstanding balance from another bank’s credit card into their existing OCBC credit card account. Cardmembers are then able to choose to pay off this approved amount via 6 or 12 month instalment. Depending on the chosen tenure, a one-time 2% (6 month tenure) or 4% (12 month tenure) interest will be charged based on the approved transfer amount and calculated into the first month’s instalment.

The table below illustrates an example of a 12-month tenure with various approved balance amounts.

So technically you’ll be paying interest only once during the entire tenure however if you miss a payment you will be charged 1.5% per month on your outstanding balance. In the event that the cardmember seeks early settlement of payments a written request must be provided and is subject to bank’s approval.

Click here for the full Terms & Conditions.

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