| Minimum Salary | Salary Transfer | Islamic Finance | Cashback | Annual Fee | Rate | |
|---|---|---|---|---|---|---|
IBL Bank - Classic Mastercard
|
Minimum Salary: USD 0 | Salary Transfer: | Islamic Finance: | Cashback: | Annual Fee: USD 75 | Rate: 1.5% |
Features
- Minimum Credit: USD 0
- Maximum Credit: USD 3,000
- Minimum Due Payment: 10% minimum USD 50
- Interest rate - Retail: 1.5% monthly
- Interest rate - Cash: 2% monthly
- Cash ATM fee: 1.5% of amount with a min of 5$
- Annual Membership Fee (Year 1): USD 75
- Renewal Membership Fee: USD 75
- Annual fees – supplementary card: USD 35
- Late payment fee: USD 15
- Printed Statement Fee: USD 1.5 monthly
- Electronic Statement Fee: Null
Additional Information
- SMS Notification for 1$/month
- Fraud insurance coverage - Card is 100% secured and covered with IBL Bank for only 11$/ year
- Travel insurance accepted at all embassies for only 1$/month
- 1% Cash Back Program: Client can cash back the points collected on all transactions done at any merchant point of sale
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
