Maybank launches 0% Balance Transfer offer! You can transfer your card debts from other banks to Maybank and enjoy 0% interest installments for 12 months.
Maybank has announced a 0% Balance Transfer offer, which allows Maybank credit cardholders to transfer their card debts from other banks to Maybank and enjoy 12 months of 0% interest installments.
The offer runs from August 18 to December 31, 2023 and Maybank credit cardholders can apply at Maybank2u Web or MAE APP.
To participate in this 0% Balance Transfer offer, cardholders are not required to pay interest and One-time Upfront Fee, and can transfer up to RM1,000 to RM50,000 to their Maybank Credit Card.
The maximum amount of card debt that can be transferred is 90% of the Available Credit Limit of the Maybank credit card you are holding, for example, if your current Maybank credit card’s Available Credit Limit is RM5,000, then you can transfer up to RM4,500 in card debt.
The purpose of Credit Card Balance Transfer is to allow users to transfer their credit card debt from Bank A to Bank B. When you have defaulted on your credit card debt with Bank A, you will be able to transfer your debt to Bank B. When you have too much credit card debt with Bank A and you are unable to amortize it, you can transfer it to Bank B through Balance Transfer.
Bank A’s credit card interest rate is 15% to 18% p.a., while Bank B’s interest rate is usually lower or even 0% when you use Balance Transfer. There are some people who apply for Balance Transfer not because they are unable to pay off their credit card debts, but to increase their cash flow.
Apply for 0% Balance Transfer through Maybank2u Web.
Step 1: Login to your Maybank2u account.
Step 2: Select CARDS and credit card.
Step 3: Select More Details and then Balance Transfer.
Step 4: Select Plan G: Tenure 12 months.
Step 5: Select which bank’s credit card you want to transfer the card debt from.
Step 6: Select the type of credit card.
Step 7: Verify and submit the application.
Apply for 0% Balance Transfer via MAE APP
Step 1: Open MAE APP and select Maybank2u.
Step 2: Select CARDS and then Credit Card.
Step 3: Select Balance Transfer.
Step 4: Select Plan G: Tenure 12 months.
Step 5: Select which bank’s credit card you want to transfer the card debt from.
Step 6: Select the type of credit card.
Step 7: Verify and submit the application.
