Saral Banking Sewa

FAQ

Credit Card

With a debit card, you can withdraw funds directly from your bank account deposits. In contrast, a credit card is similar to a short-term loan from the card issuer that allows you to make payments or withdraw cash. Rather than repaying this short-term loan on a per-use basis, at the end of the billing cycle, all of your credit card spending is combined into a single bill.

You can apply online from banks website and to open offline - visit nearest branch of selected bank to obtain application form of Credit Card. Fill up the application for Credit Card. Submit it to the respective branch. Collect your Credit Card and Pin Code after the specified day to have your card activated.

Interest free credit period of minimum 15 days to maximum 45 days after being  used for Purchase transactions.

You can use your card as often as you wish, provided you do not exceed your pre-set credit limit. Once a card is used, the card limit decreases until the time payment is received from you.

The card transactions get declined sometimes due to the following reasons:

  • Disruption of network connectivity.
  • Physical problem in the ATM and POS machines.
  • ATM/POS machine not able to read the chip data of the card.
  • Cardholder trying to withdraw more than the assigned transaction limit.
  • Cardholder Account in dormant, blocked status, insufficient funds.
  • Multiple Wrong PIN attempt made by the cardholder
  • Other various technical issues

You can pay your credit card dues through Banks' Mobile Banking, Internet Banking, Connect Ips, e-Sewa, Khalti or by visiting nearest bank branch.

  • Pay your bills on time
  • Spend within your credit card limit
  • Pay your bills in full
  • Track your expenses

No, you don’t need to open account for the credit card.

Yes, the card can be used at any of the ATMs to withdraw cash within Nepal and India.

If you make a payment for the total outstanding amount before the due date, no interest charges are applicable. If the total amount due is not paid within payment due date, interest will be charged on the total amount due and on all new transactions (from the transaction date) till such time as the previous outstanding amounts are not settled. 

It will take minimum 3 to 6 days after the approval depending upon the document provided by Card Applicant at Bank.

As you know high balance on your credit card can significantly reduce your credit score but apart from that, there are various other factors that can really hurt your credit score. 

  • Totally neglecting your loan dues/credit card bills.
  • Late credit payments.
  • Applying for multiple credit cards or loans within a short duration of time reduces your credit score.
  • Closing old credit cards shortens your credit history. This has a negative effect on your credit score.

FAQ Category