Maybank Balance Transfer Calculator

Maybank Balance Transfer Formulas:

\[ T = \frac{P + F}{D} \text{ (during 0% period)} \] \[ T = \frac{\log\left(\frac{P + F}{(P + F) - D \times R}\right)}{\log(1 + R)} \text{ (post-promotional)} \]

Transferred Balance (P):

MYR

Transfer Fee Percentage:

Monthly Payment (D):

MYR

Annual Interest Rate (APR):

0% Promotional Period:

months

Estimated Time to Pay Off:

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1. What is Maybank Balance Transfer?

Maybank Balance Transfer allows you to transfer outstanding credit card balances from other banks to your Maybank credit card, often with a promotional 0% interest period. A one-time transfer fee (typically 3%) applies.

2. How Does the Calculator Work?

The calculator uses two formulas:

\[ T = \frac{P + F}{D} \text{ (during 0% period)} \] \[ T = \frac{\log\left(\frac{P + F}{(P + F) - D \times R}\right)}{\log(1 + R)} \text{ (post-promotional)} \]

Where:

\( P \) — Transferred balance (MYR)
\( F \) — Transfer fee (e.g., 3% of P)
\( D \) — Monthly payment (MYR)
\( R \) — Monthly interest rate (APR / 12, as decimal)
\( T \) — Time to pay off (months)

Explanation: The calculation first determines how much can be paid during the 0% period, then calculates the remaining time needed after the promotional period ends.

3. Understanding the Calculation

Details: The total amount (balance + fee) is first paid down during the 0% period. Any remaining balance after this period accrues interest at your card's standard APR.

4. Using the Calculator

Tips: Enter your transferred balance, transfer fee percentage (typically 3%), your planned monthly payment, your card's APR, and the length of the 0% promotional period.

5. Frequently Asked Questions (FAQ)

Q1: What is a typical transfer fee?
A: Maybank typically charges 3% of the transferred amount as a one-time fee.

Q2: How long are the promotional periods?
A: Promotional periods typically range from 6-12 months at 0% interest.

Q3: What happens after the promotional period?
A: Any remaining balance will accrue interest at your card's standard APR.

Q4: Can I pay more than the minimum payment?
A: Yes, paying more than the minimum will reduce your total interest paid and payoff time.

Q5: Are there any hidden fees?
A: Check Maybank's terms as there may be late payment fees or other charges if payments are missed.