Need Urgent Cash? Consider Balance or Fund Transfer

Do you need urgent cash? Or you you need cash now that you can only pay back in 6 or 12 months later?

I am sure in our life we ever need a cash, sometimes it's urgent, but sometimes not so urgent but we can have it earlier and pay it 6 or 12 months later. One of the solution that is available at this moment is fund transfer or balance transfer facility from the bank. Current some banks offer a good promotion of fund transfer or balance transfer. Among other things are:

• DBS Fund Transfer with 0% interest
• HSBC Fund Transfer at 1.88% p.a. for 6 months*
• Citibank balance tranfer

Those are some of the available options in the market today. 

Now, the question is how to choose the best and the most suitable for me? Below are simple guide can be used to consider when choosing the fund transfer facility:

Consider not only the interest and processing fee

Interest and processing fee are two cost component of fund transfer. Combination of the two will determine the overall interest that we need to pay. To make simple, calculate total cost for both interest and processing fee, and take which one give much lower. In this simple calculation, money value over the time is not factored it. For example, Fund Transfer 1: Interest to pay $100, processing fee $80. Option 2: Interest to pay: 20, processing fee 200. By comparing those 2 with simple method, option1 pay less 'overall' interest.

Take the amount of fund transfer within your capability

What it means here is to take the amount of the fund transfer within your capability to pay within the period determined. For example, if you can pay back 10,000 within 6 months, then it is advised to take 10,000 for the fund transfer. with this, you can pay fully the fund after 6 months where the interest is still within the promotion period. If you pay more the the period of promotion then normal interest which usually quite significant high would be applied.

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DBS Fund Transfer with 0% interest, only pay the admin Fee

Enjoy DBS Fund Transfer with 0% interest, and only pay the admin Fee 2.5% for 6 month or 4.5% for 12 months.

Overview

Now, getting the extra cash for all the things that matter is even easier. It's convenient to apply, and it comes with promotional interest rates of 0% p.a. + 4.5% administration fee (EIR 5.06%p.a.*). Do it the smart way with DBS Cashline Balance Transfer today.

Simply sign up for a DBS Cashline Balance Transfer to transfer the available credit limit on your DBS Cashline account to your deposit account as cash with repayment flexibility!

Benefits and Features

Here's what you can enjoy with DBS Cashline Balance Transfer:

Promotional interest rates

Tenure	6 months	12 months
Applied interest rate (p.a)	0%	0%
Administration fee	2.50%	4.50%
Effective interest rate (p.a)*	5.27%	5.06%

Interest savings

As compared to interest rates of 24% p.a. on other banks' credit cards, you can save so much more with our low Balance Transfer rates.

For a Balance Transfer amount of S$10,000	6 months	12 months
Interest charged and administration fee	0% p.a. + 2.5% (EIR 5.27% p.a.*)	0% p.a. + 4.5% (EIR 5.06% p.a.*)
Interest charges	S$0	S$0
One-off administration fee	S$250	S$450
Interest from other banks' credit cards at 24% p.a.	S$1,200	S$2,400
Your savings (up to)	S$950 (79% savings^)	S$1,950 (81% savings^)

Figures are simplified for illustration purposes.

* The Effective Interest Rate (EIR) is calculated based on an approved Balance Transfer amount of S$10,000 with monthly minimum payment of 2.5% of amount transferred and full payment of the outstanding amount transferred at the end of the tenure. EIR is subject to compounding if the monthly finance charges are not paid in full. A one-off administration fee of 2.5% and 4.5% for loan tenure of 6 and 12 months respectively will be debited from your DBS Cashline account accordingly.

^ Interest savings with DBS Cashline Balance Transfer (for repayment over 6 months or 12 months) when compared to interest rate of 24% p.a. on other credit cards.

Flexible usage

You can still continue to use any remaining credit in your Cashline account in the usual way. And with every monthly repayment you make, your credit limit will be reinstated accordingly for your use.

Flexible repayment

Choose a loan tenure you are comfortable with, and pay as little as S$50 or 2.5% of the statement balance, whichever is greater.

Sign Up Today!

Apply online now or SMS PROMO<space>BT<space>NRIC to 76060

Our friendly sales officer will contact you for a verbal sign-up.

Revision to Balance Transfer Terms and Conditions

Please be informed that amendments have been made to the terms governing Cashline Balance Transfer, all of which will take effect on 1 March 2012. Updated version of the terms (Ref V6. 1 March 2012)

For original promotion, please check on DBS website

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HSBC Fund Transfer at 1.88% p.a. for 6 months*

Enjoy the latest promotion from HSBC on Fund Transfer at 1.88% p.a. for 6 months*

Enjoy savings on interest with our low fund transfer rate

There's no better time than now to transfer your credit card balances or credit lines to HSBC. With our low fund transfer rate, you'll be able to enjoy greater financial freedom.

• 1.88% p.a. for 6 months*
with upfront processing fee of S$50 (EIR: 2.96% p.a.⁺). Enjoy a waiver of S$50 processing fee for approved fund transfer of S$10,000 and above!

• 5.88% p.a. for 12 months* 
with waiver of S$50 processing fee

Savings at a glance:

Figures have been simplified for illustration purposes.
^# Savings when compared to interest rate of 24% p.a. typically charged on other credit cards.

Apply now!

Simply provide us with the necessary details and we'll transfer the money to your account of your choice upon approval.
Act now to enjoy greater savings!

Online Application


Mail
Simply download and mail the completed form back to us.

 for 1.88% p.a. for 6 months

 for 5.88% p.a. for 12 months

Call
Contact us on 1800-HSBC NOW (4722 669) to apply.

Terms and conditions

Please note that upon approval of your fund transfer, payments made to your HSBC credit card accounts are applied in the following order of priority, namely, interest charges, late charges, annual card membership fees, fund transfer amount (if there are multiple fund transfers, payment will be made to the one with the lowest interest rate first), cash advances and other outstanding balances on your card.

*	Fund transfer terms and conditions apply. Click here for full details.
+	The Effective Interest Rate (EIR) is calculated based on an approved fund transfer of S$10,000 with 3% monthly minimum payment and full payment of the fund transfer amount outstanding at the end of the promotion period. EIR is subjected to compounding if the monthly finance charges are not paid in full.

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