Can I get someone to explain the term Balance Transfer?
What is the meaning of the term Balance Transfer with the OCBC Platinum and can unused credit limit be converted to extra cash with flexible repayments?
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The OCBC Balance Transfer basically allows you to convert the unused available limit on your OCBC Credit Card or OCBC EasiCredit account to cash and enjoy interest savings on it, therefore allowing you to get extra cash for the things you need without the stress that comes with high interests. This is an interesting deal as it highlights a 0% interest with a one-time processing fee for 1 year from as low as 4.5% p.a. (EIR from 5.20% p.a.) and a flexible minimal monthly repayment of 3% or S$50 of your total outstanding balance, whichever is higher.