Fees & Charges: Maybank Credit Card

  1. What is the recent interest rate reduction all about and why?

    It is an effort by both Bank Negara Malaysia and Banks to inculcate better credit management on credit card spending and repayments using a Risk Adjusted pricing that rewards low and medium risk cardmembers.

  2. What are the interest rates recommended vs. the current?

    The current ceiling for interest rate is at 17.5% p.a. on reducing outstanding balance. Moving forward, the industry has proposed reducing this to 13.5% p.a. for consecutive prompt paymasters and 16% p.a. for non-consecutive prompt paymasters.

  3. Who qualifies for 13.5% p.a. and 16% p.a.?

    Cardmembers who pay promptly for 12 consecutive months will qualify for 13.5% p.a. whilst cardmembers who miss the due date for one or two payments within a 12-month cycle will qualify for 16% p.a..

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