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[ Print Version ]
 Visa Electron, Visa Classic, MasterCard Classic - Financial flexibility, more convenience, exciting and unique rewards and much more… 
 
Description
 

Financial flexibility, more convenience, exciting & unique rewards… This is what awaits you with SBM Credit Cards!

SBM Credit Cards offer you total peace of mind. No need to carry money around to settle your bills at various outlets – supermarkets, pharmacies, restaurants, shops etc. With a SBM Credit Card, you can make everyday purchases including grocery shopping, dinner in a trendy restaurant, holiday trip or expenditure in emergency situations.

SBM offers a panoply of credits cards ranging from Visa Electron, Visa Classic, MasterCard Classic, Visa Gold and Visa Platinum.

 
 Features
 
  • SBM Visa Electron Card – for credit limit up to Rs 10,000
  • SBM Visa  / MasterCard Classic Card - for customers earning a monthly income of Rs 10,000 or more
  • Chip card
  • Different repayment options
  • Interest rate on Retail Purchase and Cash advance 2% per month
 
 Benefits
 
  • It’s a chip-enabled card providing you with the highest level of card payment security
  • Secure online shopping through Verified By Visa or MasterCard SecureCode. SBM eSecure adds a new level of security for SBM Credit Cardholders who shop online. Once registered to SBM eSecure (link to SBM eSecure page), you get a unique password to key in when shopping online at merchants who are already certified by Verified By Visa / or MasterCard SecureCode
  • Your SBM credit card is recognised and accepted at over 20 million POS (Point of Sale) and over 1 million ATMs worldwide
  • You can benefit from financial flexibility with your SBM Credit Card as you can get up to 45 days of interest-free credit on your purchases
  • You have the freedom to choose the option of paying only a minimum of 5% of your monthly statement balance and settle the balance later at applicable finance charges
  • Share the benefits and privileges of being an SBM credit cardholder with your family – simply by giving them a SBM supplementary card!
  • We put at your service several easy, simple and hassle free payment methods for your credit card bill so that you can choose which suits you best:
    • Pay at any SBM branch counter through cash or cheque
    • Transfer funds from your designated SBM account through any SBM branch counter
    • Monthly repayment from your designated SBM account to settle your credit card bills
    • Send a cheque together with the deposit slip included at the bottom of your statement to “Online Services, Level 4, SBM Tower, Port Louis.
    • Settle your credit card account anytime and anywhere through SBM internet banking facility
  • 24/7 assistance through our SBM’s Cards Hotline (230) 202 1256 or our Call Centre on (230) 202 1111 from 08hr00 to 18hr00 on weekdays.
 
 Eligibility Criteria
 
  • Individuals aged 18 years and above
  • Residents of Mauritius
  • Minimum income of Rs 3,000 per month
  • Supplementary cards will be issued to immediate family member only
  • Must satisfy the bank’s credit / lending criteria
 
 Documents Required
 
  • Copy of identification (Passport / National Identity Card)
  • Original salary slip/letter from employer
  • Copy of latest utility bill (CWA, CEB, MT)
  • Occupation/Work permit and work contract (for expatriates only)
  • Full passport copy (for expatriates only)
  • Letter of reference from Bank (for expatriates only)
  • Bank statement for last 6 months (self –employed only)
 
 FAQs
 
  • What is a credit card?

A credit card works in the same way as cash but is a safer alternative. You can use the card in lieu of cash; the bank pays the merchant and at the mid of each month the bank sends you a statement of all your transactions made during that period and the minimum amount you have to pay.

  • Who can apply?

Anyone over 18 years, with a regular monthly net salary of Rs 3,000 or more.

  • Can I apply for additional/supplementary credit cards?

Supplementary cards can be issued to close family members, that is, spouse and children. The expenditure limit will be shared between the primary and supplementary cardholder(s). However, the statement will list down the individual card expenditure.

  • How secure is a credit card?

SBM Credit Cards are chip-enabled which makes the card totally secure. Even if you lose your card all you need to do is to call us immediately on our cards hotline (230) 202 1256, available on a 24/7 basis, or (230) 202 1111 between 08hr00 to 18hr00 on weekdays and we will cancel your card.

  • Do I need to open / hold an account with SBM to have a credit card?

Yes you need to. However, no need to have an account with us if you are applying for a Gold or Platinum card.

  • Will the credit card cost me anything?

You have to pay an annual fee. Any other charges are up to you. If you repay within the interest free period and if you don’t withdraw cash there will be no extra fees or charges. The bank will charge you for late payment etc. All fees and charges are detailed in our Tariff Guide. Ask for your copy in any SBM Branch or you can download same from https://www.sbmgroup.mu/fees.php?suf1=fees

  • Will the merchant charge me an additional fee for paying with my card?

No, the cost of an item is the same whether you pay by card or cash.

  • What is meant by the billing period and when is the payment due date?

Presently, the billing period for all your transactions starts from the 15th of the month until the 14th of next month. The payment due date falls on the 30th/31st of the month after the last billing date. You have 15 grace days to repay your bill. All payments must be effected by the payment due date indicated on your bill. Overdue accounts are subject to late payment fees and finance charges.

  • What happens when I choose to pay less than the total amount charged?

As a credit cardholder, you have the flexibility to pay less than the total amount due on or before your due date. You must however, pay at least 5% of your statement closing balance. If you pay less than 100% of the amount you spent you will need to pay finance charges (interest). The finance charge will be levied on your opening balance and on all new transactions posted to your credit card account within the statement period, accrued from date of transaction until the end of the statement period.

  • What is a finance charge and how is it calculated?

A finance charge is the interest charged to your card account when you do not pay the total amount due. As such you will be charged interest (finance charge) if you only pay the minimum amount due or any amount between the total amount due and the minimum amount due, on or before the Payment Due Date. A finance charge is also levied on cash advance transactions from the date the cash advance is effected until it is fully paid irrespective of having chosen 100 % repayment option.

  • What if I am not able to pay the minimum amount due by payment due date?

If you are unable to pay the minimum amount due by the payment due date, the current tariffs and charges will be applied, please refer to our tariff guide https://www.sbmgroup.mu/downloads/fees/BOM_Template.pdf

  • Can I use my credit card for online purchases?

Yes you can. However, you first need to register your credit card for SBM eSecure at any SBM branch.

  • What if I pay in full the total amount due?

If you pay in full the total amount due on or before the payment due date, then no finance charges will be applied on your credit card account. This, however, does not apply if you performed cash advance, where interest accrues as from day one of the transaction.

  • What to do if I lose my card?

You should immediately report the loss or theft of your card by calling our cards hotline on (230) 202 1256, available on a 24/7 basis, or call centre on (230) 207 0111 between 08hr00 to 18hr00 on weekdays.

 
 Precautions
 
  • Sign your card as soon as you receive it.
  • Keep a note of your card number and file it in a safe place separate from the card.
  • Keep your card in a secure place, and treat it as if it were cash.
  • Do not forget to take your card from an ATM or POS merchant after completing your transactions.
  • Watch and make sure only one sales slip is printed for each transaction at merchant’s point of sale.
  • Keep the customer copy of your sales slips and check them against your monthly/quarterly statements.
  • Destroy the PIN advice after memorizing it. For extra security, change your PIN regularly at any of our ATMs.
  • Do not let anyone else use your card and PIN.
  • Never keep any written record of your PIN close to your card.
  • Do not choose obvious numbers for your PIN such as your ID Card Number or date of birth.
  • When writing down or recording your PIN, do it in a safe place.
  • Make sure your PIN is protected from view when you use the ATM or any other electronic payment terminal. If you think someone has seen it, change it.
 
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HOTLINE : 207 0111 / 202 1500 [FROM 08:00 TO 18:00 MONDAY TO FRIDAY]

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