What is balance transfer and what is the range of balance transfer fees?

Credit Cards
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1

There is little info available in the sub about balance transfer. I also saw few banks website cut still I have following questions about the same

  • does is apply for already approved credit cards or we can avail this feature for new CC applications also.

  • is going for EMI for transferred amount is same in terms for interest amount vs. non EMI

  • did anybody compared the interest charges and recommend me the best value? I am temporarily short few thousand for 15K outstanding in axis card. If I pay minimum amount intrest charges will be applied. apart from axis, I have ICICI amazon pay and HDFC millenia. If my first point applies on new applications I may be able to consider other banks also.

  • if I pay less than bill amount (3-4K) does interest applies on whole amount or amount leftover?

  • as I am only few thousand short, I don’t want to pay right now and left with nothing for my expenses. I am willing to pay minimal interest with maximum interest free period and maybe 1/3 EMI to buy one more month time.

if you know anything about these points, pls comment.

2

These are the type of questions I crave for and Dear Sir I assure, you are in good community which are expert in answering these type of questions.
So lets Go…
Yes, balance transfer (BT) works for both existing cards and sometimes new applications too. Many banks let you transfer dues from one card (like your Axis) to another (like ICICI or HDFC) with lower interest or even 0% for a few months.

And If you’re thinking about EMI vs. non-EMI for the transferred amount, EMI spreads the cost with fixed lower interest :chart_decreasing:, while non-EMI offers may give 0% interest but require full repayment after 2–3 months
Since you’re short just ₹3–4K on a ₹15K Axis bill, paying the minimum will still trigger interest on the entire outstanding amount —not just the unpaid portion—and you’ll also lose interest-free periods on future purchases

A smarter move would be checking if HDFC or ICICI offers a BT option with EMI—usually 0.99%–1.5% per month with a small fee. This gives you relief without exhausting your cash

If you’re considering a new card only for BT, some offer 0% interest for 90 days as a welcome benefit, but approval takes time . So for now, explore BT from your existing ICICI or HDFC card, or pay the Axis minimum and use EMI on another card for new expenses. That way, you protect your credit score and keep enough cash in hand.

BT Ranges from 1% to 3% of the transferred amount or ₹199 to ₹999 as a flat fee (whichever is higher, depending on the bank)