Use your unutilized EBL credit card limit using EBL EasyCredit and pay back in installments at reduced interest rate.
1. What is EasyCredit?
EasyCredit is an EMI plan for EBL credit cardholders, which can be availed at a reduced interest rate through Pay Order, EBL to EBL Account transfer or transfer to other bank's Accounts through BEFTN.
2. Who can avail EasyCredit?
All Primary credit cardholders of EBL can avail this service. This facility is not available for supplementary cardholders and Corporate Platinum cardholders.
3. What is the minimum or maximum transaction amount that can be availed using EasyCredit?
Cardholder has to transfer or request a Pay Order of at least BDT 10,000 to avail EasyCredit. The maximum amount for a transaction can be up to 95% of the available limit of the credit card under this service.
4. How many times can a Cardholder avail EasyCredit per year?
There is no such limit on the number of times EasyCredit can be availed. An eligible credit cardholder of EBL can avail EasyCredit as many times as he/she requires; if the total transaction amount is within 95% of their available limit of the credit card.
5. What is the interest rate?
EasyCredit is a customized EMI plan, the interest rate applicable on EasyCredit amount will be at a reduced rate compared to the regular interest rate. Please refer to latest published EBL Cards Schedule of Charges for the rate of EasyCredit.
6. Is there any other fees and charges?
A processing fee of 2% on the transaction amount has to be paid (VAT applicable @15% on processing fee)
7. What are the EMI tenure options?
You can choose EMI plan according to your choice from a wide range of 3, 6, 9, 12, 18, 24, 36, 48 and 60 months.
8. Can the Beneficiary and Payee be the same person?
Yes. The beneficiary and payee can be the same person.
9. Can the Cardholder early-settle his EasyCredit loan by paying all the remaining installments in one lump sum?
The cardholder has the option of early settlement of the Installment Loan amount provided that s/he pays a pre-closure fee of 2.00% of the remaining outstanding amount, on the date of pre-closure of their loan or BDT 300 whichever is higher (VAT applicable).
10. Can EasyCredit be cancelled automatically?
Yes. EasyCredit facility can be cancelled automatically when the credit card account reaches 90 DPD (Days Past Due) or 3 installments missed consecutively and the entire loan amount will get transferred to the card account and become fully due.
11. Will RAP charges be applicable on my EasyCredit loan?
Yes, RAP (Risk Assurance Program) will be calculated on the EasyCredit EMI amount and principal amount due on a particular month.
For more information, please call EBL 24x7 Contact center @ 16230 or +88 02 8332232.