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Sri Lanka’s Standard Chartered waives credit card fees, gives loan relief

ECONOMYNEXT – Standard Chartered Sri Lanka said it is giving credit relief to its customers under a regulatory directive and also waived fees and given a number of concessions to credit card holders.

“While the Central Bank has brought in new regulations for the entire industry in this time of need, we decided to go the extra mile and make sure our customers were well taken care of, as part of our brand promise of being Here for good,” Sheahan Arasaratnam, Country Head, Retail Banking, Standard Chartered Sri Lanka said.

The bank said interest on credit card transactions of up to a total value of 50,000 from March 15 had been capped at 15 percent with dues settlement extended up to the May 15.

The minimum amount due on credit card payments, made up of interest, financial charges and installment payments (if any), have been halved.

Late payment fees have been waived for both credit cards and loans until September 30, 2020.

Clients who are eligible may also request for a payment extension up to September 30, for permanent overdraft facilities.

Senior citizens have been granted an ATM withdrawal fee waiver until May 31, 2020, priority customers will be given doorstep cash delivery until April 30.

PickMe orders will be given 10 percent discount till April 30 and 10 percent on online entertainment purchases until May 15.

The daily CEFT transfer limit has been raised to 5 million rupees with no frees and a cash back of 1500 is given on utility bills paid by Standard Chartered app. (Colombo/Apr29/2020)





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