1. What is Axis Bank Balance Transfer?

Axis Bank Balance Transfer allows you to transfer outstanding credit card balances from other banks to your Axis Bank credit card, often with a low or 0% interest promotional period.

2. How Does the Calculator Work?

The calculator uses two equations:

Where:

• \( P \) — Transferred balance including fee (INR)
• \( D \) — Monthly payment (INR)
• \( R \) — Monthly interest rate (annual rate / 12, as decimal)
• \( T \) — Time to pay off (months)

Explanation: The first equation calculates payoff during the promotional period, the second calculates payoff after promotional period ends.

3. Importance of Calculation

Details: Understanding payoff time helps plan finances and avoid prolonged debt. Knowing when interest starts helps minimize interest payments.

4. Using the Calculator

Tips: Enter your transferred balance, planned monthly payment, annual interest rate after promotion, and promotional period length (if any).

5. Frequently Asked Questions (FAQ)

Q1: What's typical promotional period with Axis Bank?
A: Promotional periods typically range from 3-12 months at 0% or low interest.

Q2: Are there fees for balance transfer?
A: Yes, usually 1-3% of transferred amount, which should be included in your total balance.

Q3: What happens if I miss a payment?
A: The promotional rate may be revoked and penalty interest applied.

Q4: Can I pay more than minimum payment?
A: Yes, paying more than minimum reduces payoff time and interest.

Q5: Does this affect my credit score?
A: Balance transfers can affect credit utilization ratio, which impacts credit score.