Balance Transfer | OCBC Singapore

Balance Transfer

Get cash from unused credit limits with flexible repayment terms

Why you will love this

Get extra cash quickly, without the need for additional income documents

Borrow from your unused credit limit with flexible repayment terms

Who can apply

Singaporean or Singapore PR above 21 years old with an annual income of at least S$20,000

Foreigner above 21 years old with an annual income of at least S$45,000

Get extra cash without extra stress. Convert your unused credit limit into cash, even as you continue to enjoy interest savings.

Balance transfer

Example: You have an outstanding amount of S$7,000 over a 12-month period with Bank X

Bank X

icon_bankx

Your outstanding amount with Bank X

S$7,000


Your credit card interest rate

26% per annum


What you need to pay Bank X

$1,820

OCBC Bank

icon_bankocbc

Your outstanding amount with OCBC

S$7,000


Your interest rate with Balance Transfer

0%


One-time processing fee

4.5%


What you need to pay OCBC

S$315

You saved 81% on interest charges!

benefits

No interest, low processing fee

Enjoy 0% interest with a one-time processing fee for 1 year from as low as 4.5% per annum (EIR from 5.20% per annum).

Enjoy 0% interest with a one-time processing fee for 1 year from as low as 4.5% per annum (EIR from 5.20% per annum).

Flexible repayment

Minimal monthly repayment of 3% or S$50 of your total outstanding balance, whichever is higher.

Minimal monthly repayment of 3% or S$50 of your total outstanding balance, whichever is higher.

Rates and repayment periods

Loan amount:

  • Interest Rate (per annum)
  • Nominal interest rate
  • Effective Interest Rate (EIR)
  • Effective Interest Rate
Period (months) 3 months 6 months 12 months
One-time processing fee 1.80%
S$18
2.50%
S$25
4.50%
S$45
Nominal interest rate 0% per annum
Effective Interest Rate (EIR) 7.38% per annum 5.34% per annum 5.20% per annum
Repayment period
One-time processing fee
Nominal interest rate
Effective Interest Rate (EIR)
promotion

Balance Transfer promotion

Receive up to S$400 cashback for your approved loan when you apply for Balance Transfer online!

Valid till 31 October 2020.
Terms and conditions apply.

before you apply

Eligibility requirements

Minimum age

21 years old

Annual income

S$20,000 and above for Singaporeans and Singapore PRs

S$45,000 and above for foreigners

Product holding

Existing OCBC Credit Card or OCBC EasiCredit account holder




WAYS TO APPLY

Apply for Balance Transfer today

An EasiCredit account or OCBC Credit Card is required to apply for Balance Transfer.

With access to OCBC Internet Banking

Apply through Internet Banking for a seamless application.

or

No access to OCBC Internet Banking

Do not have access to your OCBC Internet Banking account? Fill up an online application form.

Application for EasiCredit account

1
Apply for an EasiCredit account and enjoy instant approval. Plus, enjoy a S$60 cash rebate upon approval of your first EasiCredit account when you apply by 31 December 2020.
2
Once your EasiCredit account is approved, return to this page to apply for Balance Transfer.