Best Credit Cards for Balance Transfers in India (2025): A Complete Guide

Managing credit card debt can be challenging, especially with high interest rates. One effective strategy to reduce this burden is through balance transfers. 

In this guide, I will help you understand balance transfers and highlight the best credit cards for balance transfers in India for 2025.

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What is a Balance Transfer?

A balance transfer involves moving your outstanding credit card debt from one card to another, typically one that offers a lower interest rate or promotional 0% APR for a specific period. This can help you save on interest and pay off your debt faster.

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Top Credit Cards for Balance Transfers in India (2025)

1. SBI Card Balance Transfer

The SBI Card is one of the most popular and reliable options for credit card users in India. It offers two attractive plans for balance transfers:

• Plan 1:

  • 0% interest for 60 days

  • Processing fee: 2% of the amount transferred (minimum ₹199)

  • Best for: Those planning to repay quickly within two months.

• Plan 2:

  • 1.7% interest for 180 days

  • No processing fee

  • Best for: Those needing up to 6 months for repayment.

✅ Why choose SBI for balance transfers?

• Flexible repayment options

• Zero or low processing fee options

• Easy online application through SBI Card website or app

Pro Tip: This is one of the few cards in India with a 0% balance transfer offer.

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2. HDFC Bank Balance Transfer on EMI

HDFC Bank offers a convenient Balance Transfer on EMI facility for its credit card customers. It allows you to transfer the balance from other credit cards and convert it into affordable EMIs.

• Interest Rate: Starts from 1.10% per month

• Tenure Options: 9, 12, 24, 36, or 48 months

• Processing Fee: 1% of the loan amount (minimum ₹250) + GST

✅ Why choose HDFC for balance transfers?

• Longest repayment tenure among Indian banks

• EMI flexibility reduces financial pressure

• Quick online and mobile app-based application

Note: Always check for promotional offers — sometimes HDFC runs limited-time 0% balance transfer deals.

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3. ICICI Bank Balance Transfer

ICICI Bank offers a reliable balance transfer facility on EMI to its credit card customers, ideal for those seeking predictable monthly payments.

• Interest Rate: Starting from 1.25% per month

• Processing Fee: Between 1% to 5% of the transferred amount

• Transfer Amount: ₹15,000 to ₹3,00,000

✅ Why choose ICICI for balance transfers?

• Option to repay in easy EMIs

• Available for higher transfer amounts

• Quick processing through ICICI’s online platform

Important: Check your pre-approved balance transfer limit via your ICICI Bank account or net banking.

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4. HSBC Visa Platinum Credit Card

The HSBC Visa Platinum Credit Card offers a simple balance transfer facility with decent tenures.

• Tenure Options: 3, 6, 9, 12, 18, or 24 months

• Interest Rate: Depends on tenure and credit profile

• Processing Fee: Applicable as per HSBC’s terms

✅ Why choose HSBC?

• Suitable for those looking for mid-term repayment plans

• Easy online balance transfer application

• An internationally accepted card

Good to know: This card works well for individuals who travel often or shop online internationally.

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5. Axis Bank Balance Transfer

Axis Bank credit cards also offer balance transfer on EMI services for amounts ranging from ₹5,000 to ₹3,00,000.

• Interest Rate: Varies based on repayment tenure

• Processing Fee: 1% of the transferred amount + GST

• Tenure Options: 6, 12, 18, or 24 months

✅ Why choose Axis Bank?

• Convenient EMI options

• Easy application through the Axis Bank mobile app and net banking

• Transfer up to 100% of your available credit limit

Quick Comparison Table: Best Balance Transfer Credit Cards in India (2025)

Bank / Card	Interest Rate	Processing Fee	Tenure	Max Transfer Limit
SBI Card	0% for 60 days / 1.7% for 180 days	2% (min ₹199) / Nil	60 to 180 days	₹3,00,000
HDFC Bank	1.10% onwards	1% (min ₹250) + GST	9 to 48 months	As per credit limit
ICICI Bank	1.25% onwards	1%-5%	3 to 24 months	₹3,00,000
HSBC Visa Platinum	Varies	As applicable	3 to 24 months	As per credit limit
Axis Bank	Varies	1% + GST	6 to 24 months	₹3,00,000

How to Choose the Best Credit Card for Balance Transfer?

When selecting the best credit card for a balance transfer, consider:

• Interest Rates: Lower the better

• Processing Fees: Watch out for hidden charges

• Repayment Tenure: Longer tenure can reduce EMI burden

• Transfer Limits: Ensure it covers your required amount

• Ease of Application: Prefer cards with online balance transfer facilities

Pro Tip: Always read the fine print and check the balance transfer terms before applying.

Benefits of Balance Transfers

• Lower Interest Rates: Save money by transferring to a card with a lower interest rate.

• Simplified Payments: Manage your debt more efficiently by consolidating multiple balances.

• Improved Credit Score: Timely payments on the new card can positively impact your credit score.

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Potential Drawbacks

• Processing Fees: Some banks charge a fee for balance transfers.

• Limited Promotional Period: 0% APR offers are typically for a limited time.

• Credit Limit Constraints: The amount you can transfer may be limited by the credit limit of the new card.(Card Insider, ICICI Bank)

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FAQs

Q: Do balance transfers hurt your credit score?

A: Initially, a balance transfer may cause a slight dip in your credit score due to a hard inquiry. However, over time, it can improve your score if you make timely payments and reduce your overall debt. (Real Simple)

Q: Which bank is best for credit card balance transfers?

A: It depends on your specific needs. SBI offers a 0% interest plan for 60 days, HDFC provides flexible EMI options, and ICICI offers competitive interest rates.

Q: What is the 2/3/4 rule for credit cards?

A: This rule suggests not applying for more than 2 credit cards every 3 months and not holding more than 4 cards at a time to maintain a healthy credit profile.

Q: Who has the longest 0% balance transfer?

A: Internationally, some cards offer up to 21 months of 0% APR. In India, SBI offers 0% interest for 60 days.(Card Insider)

Q: What is the disadvantage of a balance transfer?

A: Potential disadvantages include processing fees, limited promotional periods, and the temptation to accumulate more debt.

Q: How many credit cards should I have?

A: It's advisable to have 2 to 3 credit cards to manage your finances effectively without overextending yourself.

Q: Does balance transfer affect CIBIL score?

A: Yes, it can. A balance transfer may cause a temporary dip due to a hard inquiry, but can improve your score over time with responsible usage.(Real Simple)

Q: How many credit cards are too many?

A: Having more than 4 credit cards can be challenging to manage and may negatively impact your credit score if not handled responsibly.

Q: Which credit card is best for a balance transfer?

A: SBI, HDFC, and ICICI offer competitive balance transfer options. The best choice depends on your specific financial situation and repayment capacity.

Q: What is the fee for HDFC balance transfer?

A: HDFC charges a processing fee of 1% of the loan amount, with a minimum of ₹250, exclusive of GST. (Bankbazaar)

Q: What is the best credit card in India?

A: The best credit card varies based on individual needs. For balance transfers, SBI, HDFC, and ICICI offer strong options.

Q: Which credit card has a zero balance transfer fee?

A: SBI's second plan offers a balance transfer with no processing fee but charges 1.7% interest for 180 days. 

Q: How to enhance HDFC credit card limit?

A: You can request a credit limit increase through HDFC's NetBanking, MobileBanking, or by contacting customer care. Approval depends on your credit history and income. (HDFC Bank)

Q: What is the charge of ICICI credit card balance transfer?

A: ICICI charges a processing fee ranging from 1% to 5% of the transferred amount. Interest rates start from 1.25% per month. 

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Conclusion

Balance transfers can be a strategic tool to manage and reduce credit card debt. By choosing the right credit card for balance transfers, you can take advantage of lower interest rates and better repayment terms. Always assess the terms and fees associated with balance transfers and ensure timely payments to maximise the benefits.

Bonus Advice: Don’t treat a balance transfer as an excuse to accumulate more debt. Use it wisely to clear your existing dues and plan your finances better.

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