BALANCE TRANSFER FACILITY Sample Clauses
The Balance Transfer Facility clause allows a borrower to transfer outstanding balances from one credit account to another, typically to take advantage of more favorable terms such as lower interest rates or promotional offers. In practice, this means a customer can move debt from a high-interest credit card to a new card or loan with a lower rate, often subject to certain fees or limits set by the lender. The core function of this clause is to provide borrowers with flexibility in managing their debt and potentially reducing interest costs, thereby offering a practical solution for consolidating and managing financial obligations.
BALANCE TRANSFER FACILITY. You may at any time apply for the OCBC Balance Transfer Facility (the “BT Facility”), subject to this Agreement and any other rules, procedures or instructions which we may issue from to time.