| Minimum Revenue | Age of Business | Islamic Finance | Cashback | Annual Fee | Rate | |
|---|---|---|---|---|---|---|
CBD My Business Credit Card
|
Minimum Revenue: AED 2,000,000 | Age of Business: 2 years | Islamic Finance: No | Cashback: No | Annual Fee: AED 0 | Rate: 1.65% |
Features
- No annual card fees for either principal or supplementary cardholders
- Interest free grace period of up to 53 days for business purchases
- Convenient access to a flexible line of revolving credit at the low interest rate of just 1.65% per month.
- One card payment solution - can be used to make purchases, for paying bills and business expenses and for accessing cash both in the UAE and overseas.
- High Cash Access Limit - up to 70% of the card limit can be used to obtain cash.
- Instant ‘Cash on Demand’
- Flexible Repayment Options
- Business Expense Management
- Simplified accounting and expenses reconciliation
- Secure transactions
Representative Example
If you spend AED 1,200 at a purchase interest rate of 18.9% (variable) your representative APR will be 18.9% (variable).
** 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.
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