Standard Bank VISA Credit Card

Features of Standard Bank VISA Credit Cards:

• Zero annual fees
• Lowest card cheque processing fee
• Free first card cheque book
• 45-days interest-free period
• Free supplementary cards
• Transaction alerts
• Auto debit facility
• E-statement service

Eligibility and Documentation for Standard Bank VISA Credit Cards

Age Limit:

• For secure card: 18 years and above
• For unsecured card: 21-65 years

Income Requirements:

• Minimum monthly income of BDT 30,000 is required to avail credit card facility. However, for bankers, employees of telecommunication companies, and multinational companies, the minimum monthly income should be BDT 20,000.

Mandatory Documents:

1. Copy of Valid National ID/Passport/Driving License
2. Copy of Valid E-TIN/Tax return acknowledgement slip (not more than 2 years old)
3. Letter of Introduction/Pay slip/Salary Certificate and bank statement (not older than 1 month)
4. Recent 2 passport size photographs duly signed by the applicant
5. Completed CIB undertaking
6. Business Card/Visiting Card and copy of Office ID
7. Undated Cheque (UDC) signed by the applicant

Additional Documents:

For Salaried Persons:

• Original Letter of Introduction/Salary Certificate/Pay-slip
• Latest 6 months bank statement

For Sole Proprietorship Business:

• Latest 12 months bank statement of business and personal account
• Copy of Trade License (not more than 2 years old)

For Partnership Business:

• Latest 12 months bank statement of business and personal account
• Copy of Partnership Deed (duly registered/notarized)
• Copy of Trade License (not more than 2 years old)

For Directors of Private Limited Companies:

• Latest 12 months bank statement of business and personal account
• Copy of Memorandum & Articles of Association
• Copy of Certificate of Incorporation
• Copy of latest Schedule-X (not more than 2 years old)

For Self-Employed Professionals:

• Latest 12 months bank statement of personal account
• Valid copy of BMDC registration certificate for Doctors, Permission of Practice for Engineers, and Consultants from Appropriate Authority
• Copy of valid Land Ownership document (Holding Tax Receipt or any Govt. utility bill)
• Copy of valid Rent Agreement/Rent Deed

Lien Card/Secure Card:

Additional mandatory documents required for secure cardholders include authorization for fund holds instruction and encashment of securities, and minimum FDR or DPS requirements.

RFCD/ERQ Account Documentations:

For RFCD/ERQ account holders, additional documents such as giving authority to hold funds, board resolution, lien confirmation letters, etc., are required.

FAQs for Standard Bank (SBL) Credit Card

Q: When will I receive my credit card after applying for it?
A: It takes 7 working days (subject to approval) to receive your SBL Credit Card.

Q: Can I use my Credit Card immediately upon receiving it?
A: All chip cards are sent in a deactivated state and need activation. You can activate the card by signing the Acknowledgement slip and sending it to the nearest SBL branch or by sending the signed Acknowledgement slip from your registered email.

Q: What is the interest-free credit period on the SBL Credit Card?
A: The interest-free credit period is provided for up to 45 days. Please note, this period is not valid if any balance from the previous month’s bill is outstanding.

Q: How many additional Cards can I request for on my credit card?
A: You can apply for up to 2 additional cards (depends on SBL card policy) in addition to the primary card. These supplementary cards can be issued to immediate family members.

Q: Can I use my SBL Credit Card at ATMs to withdraw cash?
A: You can withdraw cash at ATMs within your cash withdrawal limit, which is communicated to you upon card delivery and is indicated in your monthly statement.

Q: What insurance facilities are provided by SBL Credit Cards?
A: SBL Credit Cards offer insurance coverage for death, protecting you and your family from unforeseen consequences.

Q: What is the minimum monthly repayment on my SBL Credit Card?
A: Your monthly payment should cover at least the Minimum Payment Due (MPD), which is the sum of 5% of the total payment due, the previous month’s minimum due amount, and over-limit amount (if any).

Q: How do I pay my Credit Card bill?
A: You can pay off your credit card bill through payment cheque/cash, provide auto-debit instructions from your SBL CASA account, or use SBL internet banking.

Q: How do I update my personal details/address?
A: To update your personal information, visit your nearest SBL branch(es) or send your request along with your signature from your registered email.

Q: Can I use my Credit Card for expenses on E-Commerce?
A: Yes, you can use your dual currency card for legitimate online purchases within a monthly limit of USD 300.

Q: What should I do if my Card is lost or damaged?
A: Inform SBL Card Customer Service immediately to block the lost card. A replacement card will be delivered upon request.

Q: How long does it take for a Cheque payment to clear on my credit card?
A: Cheque payments deposited take a maximum of 3 working days to reflect in your card account.

Q: Will I automatically receive a new SBL Credit Card if my existing one is about to expire?
A: Yes, a new SBL Credit Card will be issued prior to the expiry of your current card, excluding blocked cards.

Q: How can I increase my Credit limit?
A: You can apply for a credit limit increase by filling up the ‘Credit Limit Enhancement Form’ and providing necessary documents. Approval is at SBL’s sole discretion.

Q: What if I exceed my credit limit?
A: If you exceed your approved credit limit, an over-limit fee will be imposed on your card account.

Q: When do I start paying interest on new purchases if I’m already revolving Credit?
A: Fresh purchases attract interest from their respective dates of purchase if you’re already receiving revolving credit.

Q: When will the interest charge stop?
A: Interest charges cease immediately upon payment of all outstanding charges.

Q: What happens if my Cheque gets delayed in the post beyond the payment due date?
A: If your payment is not received by the due date, a late fee is applicable, and interest accrues for the delayed period.

Q: What happens if I pay more than the total amount due?
A: The excess amount will be adjusted against future purchases and reflected in your monthly statement.

Q: What happens in the case of a disputed card transaction?
A: Provide your request including transaction details and signature for resolution. VISA/NPSB guidelines will be followed.

Q: What should I do if my Card/Cheque/PIN is lost?
A: Inform the bank immediately, request to block the lost item, and apply for a replacement. Replacement comes at a cost and is billed in your next statement.