Balance Transfer Product Terms and Key Facts Sheet

Balance Transfer Product Terms and Key Facts Sheet

We are pleased to introduce our newest product, Balance Transfer🆕. Please read these terms carefully. These terms explain how Balance Transfer works, your responsibilities, and other important information.

Don’t forget to read our General Terms and Conditions, the Savings Account by Trust – Product Terms, the Trust Link Credit Card and NTUC Link Credit Card Product Terms, and their respective Key Facts Sheets, as they also apply. ☺ If there is an inconsistency between any of the terms, these Balance Transfer Product Terms will take priority for Balance Transfer. 

We also recommend you read the consumer guide on credit cards here.

What’s Balance Transfer?🏛➡🤑

Balance Transfer is a short-term loan. The loan amount is converted from the unused credit limit on your Trust credit card and deposited into your Savings Account by Trust. This means that you must have both a Trust credit card and a Savings Account by Trust before you can apply for a Balance Transfer. If you don’t have a Savings Account by Trust, we will first direct you to open one.

We do not allow loans for payment of the cash amount for residential property purchases or vehicle purchases.

When you apply for a Balance Transfer, we will ask you to choose the loan amount and loan tenure. We will show you the final loan amount, one-time fee, effective interest rate, and tenure. These will be shown to you so you can decide if you want to continue with your application for a Balance Transfer.

Once we have approved your Balance Transfer, we will issue the approval to you. We will let you know the loan amount, one-time fee, minimum monthly payment, effective interest rate, and tenure, that we have approved. We issue loan approvals through the Trust app.

Each approved loan will reduce your available credit limit by the sum of the loan amount. We will reinstate your available credit limit by amounts equal to the repayments you make.

Key features

Loan amount 

The minimum amount for each loan application is S$500. The total loan amount cannot be more than the available credit limit on your credit card, minus a buffer amount set by us which we set aside for your credit card purchases. 

Loan tenure 

You can choose a loan tenure of 1 to 6 months.    

Loan repayments 

We will charge a minimum payment of 3% of the outstanding amount per month automatically to your Trust credit card. Each payment will be reflected as a charge on your monthly credit card statement.

In the month when your loan tenure ends, we will charge the entire outstanding loan amount to your credit card. 

We will not issue a separate statement for Balance Transfer. Please refer to your credit card statement. 

As you repay your Balance Transfer loan, we will increase your available credit limit by the amount you have repaid.  

Convenient and flexible early repayment 

In addition to the mandatory minimum monthly payments (see section above), you may choose to repay any amount of your loan before the end of your loan tenure, at any time, by entering the amount you wish to repay in our Trust app. 

Each repayment will be charged to your credit card immediately. Therefore, if you choose to repay your entire loan early, the entire outstanding amount will be charged to your credit card immediately.  

Key interest and fees

One-time fee 

We charge a one-time fee when you apply for a Balance Transfer and receive a loan approval. This fee is based on your loan amount, tenure, and any other factors we may consider relevant. 

Late payment charges 

Your Balance Transfer payments will be charged to your Trust credit card. Therefore, Trust credit card late payment charges apply. Please refer to the Trust Link Credit Card and NTUC Link Credit Card Key Facts Sheet for more details. 

Early repayment fee 



We do not charge interest for our Balance Transfer product.  We do, however, charge interest under our credit card terms. (see next section).  

Interest under our credit card terms 

We charge your Balance Transfer payments to your credit card, therefore you may incur interest under our credit card terms if you do not pay off your credit card statement balance by its due date. This interest rate is the same as the interest rate for overdue amounts on your credit card purchases. Please see our Trust Link Credit Card and NTUC Link Credit Card Key Facts Sheet.  


We will terminate all Balance Transfer(s) if you are 90 days past your due date for your credit card’s minimum payment due. All loan balances will then form part of your credit card’s outstanding balance. 

Credit report 

You are not entitled to a free credit report if you apply for a Balance Transfer. 

Interest and fees💰

We set out the interest rates, fees and their calculation methods in the “key interest and fees” section above.  

We indicate your one-time fee and Effective Interest Rate on the Balance Transfer approval page. We calculate the Effective Interest Rate (EIR) by considering the processing fee and assuming that each minimum monthly payment is paid on time and that the remaining loan amount is paid in the last month.  


You must repay the loan even if you do not use or withdraw any of the loan amount we deposit into your Savings Account by Trust.

We will include Balance Transfer payments due in your monthly Trust credit card outstanding statement balance. We also include the payments as part of your credit card’s minimum amount due. Please see the Trust credit card Key Facts Sheet for details. You must continue to make payments on all your other Trust credit card purchases. 

We may demand immediate repayment of the loan in full together with all accrued and unpaid interest and charges, at any time and for any reason. This is regardless of whether the loan repayment is reflected in your Trust credit card statement or not. This will apply even after you terminate your relationship or loan with us. 


Balance Transfers are not eligible for any promotions or rewards.

Effect of termination😥

If you are no longer our customer or if we terminate the loan for any reason, you must repay the outstanding amount you owe us (this includes any unpaid interest and charges) immediately. If we accept any other amount that you pay, it does not mean that we are giving up our right to claim the remaining balance that you owe.

Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law.

Last updated on: 1 April 2024, Version: 3