Balance Transfer Facility (BTF) is a service provided on credit cards using which you can transfer your outstanding balance from one credit card(s) onto other credit card. This facility is offered by almost all of the banks in Pakistan, where you can easily transfer you outstanding dues on one credit card to another with BTF processing charges. Various banks have different rates for BTF and annual service charges which are explained here.
Here we will share the charges applied by various banks on Balance Transfer facility so that you can compare well and transfer if you find the charges reasonable enough for you. For using balance transfer facility, you are charged with BTF processing fee & Annual Service Charges until you pay those dues in full. The fee is fixed and the service charges are applied on daily basis with Annual service charges on the total amount until the payment is done.
Below is the detail of BTF processing fee and annual service charges by various banks in Pakistan:
| BANK | Annual Service Charges on BTF | BTF Processing Charges |
| HBL | 24% | Rs.500/- or 3% of the transferred amount, whichever is higher |
| UBL | Up to 28% | Rs.500/- |
| Allied Bank | 20% | Rs.500/- |
| MCB | 22% | Rs 450/- or 2.5% of transaction amount whichever is higher |
| Standard Chartered | Upton APR of 42% | 3.5% of the transaction amount |
| Bank Alfalah | 24% | Rs. 600/- or 2.5% of transaction amount, whichever is higher |
| Silk Bank | 27% | Up to 20% of the Balance Transfer Amount |
| Faysal Bank | 2.7% per month (Annual 33%) | 2% per month of transfer amount |
Also, some banks also provide easy monthly installments of 3, 6, 9 or 12 months with zero markup with a processing fee according to the plan & balance amount. However, If the bank does not offer easy monthly installments on Balance Transfer Facility, you still can convert your transferred amount but you will be charged with markup according to bank’s schedule of charges.
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