Managing Credit Card
A monthly card account statement is generated if there is any outstanding in card account.
If the entire amount is repaid within the payment due date as shown on statement no interest will be charged and thus the cardholder has the option of enjoying a free credit facility from 20 to 50 days depending on the date of transaction. However, this condition is not applicable for cash withdrawal.
Example:
| Transaction Date | Statement Date | Payment Due Date | Interest free period |
| 19/10 | 18/11 | 07/12 | 50 |
| 29/10 | 18/11 | 07/12 | 40 |
| 18/11 | 18/11 | 07/12 | 20 |
A late payment fee will be charged if the minimum payment amount as shown on the statement is not received within the payment due date.
If payment is made partially but not less than the minimum payment amount within the payment due date, no late payment fee will be charged and thus one can revolve the credit.
Cardholder can pay cash at any SEBL branch. However, one can also send cheque, draft at Card Division, Head Office. Cheque, draft should reach Card Division at least 7 days before the payment due date. Please ensure all cheques are crossed and payable to SEBL. Ensure to write card number and full name on the reverse of the cheque.
Sufficient balance is to be maintained in nominated SEBL account if auto payment instruction is given.
When the current balance in the statement is less than or equal to approved credit limit the minimum payment amount is:
For international bill: 5% of the current balance or $25 whichever is higher. If the current balance is less than $25 it must be paid in full
For local bill: 5% of the current balance or Tk. 500 whichever is higher. If the current balance is less than Tk. 500 it must be paid in full.
When the current balance in the statement is more than the approved credit limit the minimum payment is: 5% of the credit limit plus the amount in excess of credit limit.
Any overdue amount (i.e. minimum payment amount carried forward from the previous statement) must be paid immediately. Thus the total minimum amount is: the minimum payment amount of the current statement balance plus the minimum overdue amount from the previous statement.
Any amount that remains outstanding after the payment due date will attract an interest @ 2.00% per month calculated on daily basis from the date of transaction until the entire amount is paid in full.
In case of cash advance, the interest @ 2.00% per month will be charged and calculated on daily basis from the date of transaction until cash advance is paid in full.