Credit Card Bank Interest Rate
Credit Card Bank Interest Rate Bank Wise an overall description has been given here. Credit Card Bank Interest Rate Calculation, verification, and an evaluation will be found here. Credit Card well-known as “plastic money” is making life easy, burden free & amusing day by day.
Credit Card as Plastic Money an Introduction
Modern life, especially Credit Card is essential for City life. This card well-known as “plastic money” is making life easy, burden free & amusing day by day. Although peoples buy a product with Credit Card, but Credit Card is also a Special Product by the side of Bank. Bank receives/takes Annual Charge from the customer by the sale of this product (Credit Card). In exchange of that customer gets an opportunity of cash withdrawn or shopping through Credit Card.
The customer is bound to repay the bank money in a particular period. In the question of interest comes only for failure to pay back the money. Generally, monthly basis up to 2 to 2.5% interest takes over the Banks from the customer.
Evaluation of Credit Card Bank Interest Rate
Planning for your shopping decision or gets the opportunity of cash withdrawn or make a payment you must think in mind you carry cash or cash equivalent? Carrying cash is very risky for today’s life. So Credit Card is the solution as a cash equivalent. But the question in mind which Bank’s Credit Card do you prefer most? To take the best decision, you need to verify Credit Card Bank Interest Rate first. Then which Bank Credit Card how Much Interest Rate? Or how much Interest on Bank Credit Cards? Benefits and disadvantages of Bank’s Credit Card etc.
An Overall Description of Credit Card Bank Interest Rate
Twenty-nine Bank’s (29) credit card annual interest rate has been shown in the Bangladesh Bank’s Website. Only Sonali and Janata Banks’s have Credit Card among eight (8) State-owned commercial and specialized banks. According to statistics on last September-2015, 25 Banks have credit card among non-Government commercial bank. Standard Chartered Bank, HSBC, Bank Al-Falah also have credited Card among foreign nine (9) Bank’s. Use of these cards customers has to pay interest up to 18% to 36%. Although most of the Bank’s take interest up to 30%.
Only three (3) Bank’s take the lowest interest of 18%, these are Bangladesh Commerce Bank, Jamuna Bank and Dutch-Bangla Bank (DBBL). After this, the lowest interest rate 19.50% is HSBC Bank. Interest rate of Bank Al-Falah is 21.24%. Five (5) Banks’ take fixed interest of 24%; these are Janata Bank, Dhaka Bank, IFIC Bank, Standard Bank and Southeast Bank. Besides these,
National Bank’s Credit Card Interest rate is 27%
Brac Bank’s Credit Card Interest rate is 27% to 30%
NRB Bank’s Credit Card Interest rate is 28%
One Bank’s Credit Card Interest rate is 28.50% to 31.50%
There are 13 Banks which take interest 30%.the Bank are as
AB Bank, Bank Asia, Eastern Bank Ltd, Exim Bank, Midland Bank, Premier Bank, Mercantile Bank, Mutual Trust Bank, NCC Bank, Farmers Bank, South Bangla Bank, Shahjalal Bank and Trust Bank. Out of these, Standard Chartered Bank takes 30% to 33% interest. City Bank Credit Card Interest Rate is 36%.
Summarized Bank Wise Credit Card Bank Interest Rate at a glance:
|Bank Name||Interest Rate on Credit Cards (Maximum)|
|Bangladesh Commerce Bank||18%|
|Jamuna Bank Limited||18%|
|Dutch-Bangla Bank (DBBL)||18%|
|Bank Al Falah||21.24%|
|Janata Bank Limited||24%|
|Dhaka Bank Limited||24%|
|IFIC Bank Limited||24%|
|Standard Bank Limited||24%|
|Southeast Bank Limited||24%|
|National Bank Limited||27%|
|Brac Bank Limited||27% to 30%|
|One Bank Limited||28.50% to 31.50%|
|AB Bank Limited||30%|
|Bank Asia Limited||30%|
|Eastern Bank Limited||30%|
|Exim Bank Limited||30%|
|Premier Bank Limited||30%|
|Mercantile Bank Limited||30%|
|Mutual Trust Bank Limited||30%|
|NCC Bank Limited||30%|
|South Bangla Bank||30%|
|Shahjalal Islami Bank Limited||30%|
|Trust Bank Limited||30%|
|Standard Chartered Bank||30% to 33%|
|City Bank Limited||36%|
Credit Card Bank Interest Rate-Choice the Best One
Summarized Bank wise Credit Card Bank Interest Rates are described above. So, take the decision to choice the best one of your Credit Card. According to the rules of Bangladesh Bank the Maximum limit of a Credit Card or Money expense power limit of a Credit Card is TK 5 Lac (Taka 500,000). This limit is fixed in the basis of the Customer’s Monthly Income. According to the Information of Central Bank (Bangladesh Bank) Total Credit (Accumulating of all Banks), Cards of last June-2015 had 564,459. Within Brac Bank had 65,572 Credit Cards, EBL had 63,043, Prime Bank had 45,071 Southeast Bank had 26,875 Credit Cards and City Bank had 173,532 Credit Cards.
You also may take your fruitful Investment Decision by Visit:
You can also Like & follow our Facebook Fan Page for more details information.