Visa Credit Card

This is a card issued by National Bank of Malawi to customers as a method of payment for goods and services across the globe. It has an embedded pre-approved credit.

Target Clients

High net worth customers including:

Personal
SME
Corporates

How it Works

A Credit Card operates on an approved limit which is not attached to any of the customer’s accounts. This, therefore, means that the customer is not required to have the funds in the account during the use of the card. Sufficient funds are, however expected to be in the account to cover the minimum repayment as agreed with the bank on the settlement date. The minimum repayment amount can either be 100%, 75% or 50% of the month’s total bill.

Benefits of the NBM Visa Credit Card

Borrow for Free

The customer will be able to enjoy up to 45 days interest free period on all purchases. To enjoy the full interest free period, the purchase transactions should be done at the start of the cycle (first day of the cycle). The cycle is 30 days starting on the 16th for personal cardholders and 1st for Business and Corporate cardholders. If no repayment is made during the interest free period then interest will be calculated from the date of purchase.

Online Payment

Customers will enjoy online payments for goods and services locally and internationally

Preapproved Forex Limit for:

Up to US$5,000 for Personal cardholders
Up to US$10,000 for Business & Corporate cardholders

Convenience

Accepted worldwide on VISA branded service points.

Record Keeping

Credit card statements can help you track your expenses.

Protection & Security

The card is based on latest chip technology and is PIN protected.

Credit Rating

Regular use of the card by the customer and prompt full payment of the balance is one of the better ways a customer can build a solid credit history and improve creditworthiness.

NBM Credit Card Products

The following NBM Credit Card products will be offered to cater for Individuals, Premium Clients, Businesses and Corporates:

Visa Credit Classic
Visa Credit Gold
Visa Credit Platinum
Visa Credit Business
Visa Credit Corporate

How to Get the NBM Visa Credit Card?

A customer can download the form from our website and send to NBM or visit any Service Centre or meet with Account Relationship Manager to apply for the NBM Credit Card for both existing and new NBM customers. The card shall only be issued upon meeting all conditions.

Pricing

Specific fees and interest as defined hereunder shall be charged by the bank and borne by the customer. Specific interest rate shall apply and shall be subject to review at any time at the Bank’s discretion. Other fees and charges shall include:

Subscription Fee

A once off fee paid at the time the customer is applying for the Credit Card.

Annual Card Fee

This is a fee paid at the anniversary of the card annually.

Card Renewal Fee

Paid after the expiry of the card in three years.

Card Replacement Fee

This is a fee for stolen, damaged and emergency cards.

PIN Regeneration/Reproduction Fee

Paid where a customer has forgotten a PIN and has requested a new one.

Transaction and Event Fees

Fees relating to particular transaction types e.g. ATM withdrawal and cash advance except for all purchases on POS and online.

Penalty Fees

Paid for late repayments and over limit transactions.

Contacts

Tel: +265 (0) 1 831 485 / +265 (0) 1 831 646

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Whatsapp: 0212 831 485

Skype: nbmcallcentre