No..I said online apply cheaper 3.88% for 12 months..hahaha..she offer 4% for 12 months..

Thank you.


Can anybody explain how the repayment of the Balance Transfer works?
Example I have RM12k with Bank A, and I transfer RM12k to Bank B at 0% interest for 12 months. Do I have to pay RM1k every month to Bank B? Or I can pay the minimum amount which is 5%, means RM600 only?

some banks do allow paying just minimum without interest, but not for the above. actually it's also better/easier to pay monthly 1k based on your example.

If you pay minimum amount, bank will charge you according to normal credit card rate interest which is 15% pa or 18% pa depends on your tier..

If you pay RM1k, you enjoy zero interest loan. Your next outstanding balance is 11k
If you pay RM600, approx RM200 interest will be charge to your account. Your next outstanding balance is 11.6k. So you are basically repay RM400 principal loan amount only.

when i BT from MBB to aeon, i can earn points for aeon.
if BT from aeon to MBB, is there any treatpoints?

Nope.

My 2nd BT to MBB
12 Nov - Email BT to MBB
12 Nov - received acknowledgment back by reply email & X CS verification
14 Nov - Payment made to OCBC
14 Nov - 3% waiver

Can you share the method to e-mail BT to MBB? I didn't see any option of e-mailing them. Thanks.

1) post #1 has the details
2) search this topic

fill in this form and send to this email: mbbcardservices@maybank.com.my

Ops. Thanks.

Thanks @victorywp

Thank you.

If I BT an amount to MBB, can I BT the remaining outstanding balance to another bank's card after a few monthly payments? Any penalty as the BT is equivalent to a 0% installment scheme? Thank you.

This post has been edited by judejude: Nov 17 2014, 09:09 PM

How are you going to BT that amount since it won't really appear in the statement as total outstanding amount? It'll minus off your credit limit and appears as monthly repayment amount in the statement.

I doubt you can BT the balance to another CC. Just my two cents.

Sorry to ask stupid question.

With 0% interest and no processing fee, how or what does bank earn from BT?

Like AEON, they even offer points for BT.

Just wondering ...

the more ppl bt, finally SOME will not be able to manage at the end
then banks can charge interest dy

Assuming the cost of fund for Maybank is 3%, giving out this BT loan will only cost MBB 1.5% p.a. because the BT will be repaid in 12 monthly installments.
Maybank just need to bet on less than 10% of the BT customers will pay the minimum amount, so that the normal 1.5% to 1.8% p.m. Interest can be charged upon card members in order to break even and make profit.

The same goes to the card member who place the BT money for 12 months 4% FD and repay Mbb promptly every month. The card member actually getting effective interest of 2% pa. only.
BT 50K and put in 12 mths 4% FD with only yield you rm1k interest effectively. But it is free money, why not.

This post has been edited by aeiou228: Nov 18 2014, 12:23 AM

what i am currently doin is help ppl purchase/paid for ar ticket ,electrical etc (min rm500 per transaction) with ocbc. i take the cash and dump into my home loan to reduce principal amount than BT to mbb 12 month 0%.
recently dump 6k and paid rm500 to mbb. is like lend money with 0% from ocbc to pay my loan.

Which card offers points even for BT.
I saw the clause stating that BT is not included as retail transactions.
Is it retail transaction is only considered for cash back mechanism as in Aeon Watami Card ?