Credit Card FAQ



1. How do I apply for Visa Credit card?
Please follow the proceedings below to get you Visa Credit Card.
  • Visit your nearest branch to obtain application form of Visa Credit Card.
  • Fill up the application for NMB Bank Visa Credit Card.
  • Submit it to the respective branch.
  • Collect your Visa Credit Card and pin code after the specified day and have your card activated.
2. Where are the Credit Cards accepted?
The Credit Card is accepted at all merchant locations displaying the sign of Visa Cards. Credit cards are confined to usage within India, Nepal and Bhutan as per the rules and regulation of Nepal Rastra Bank.

3. Do I need to open account for the credit cardholder?
No, you don’t need to open account for the credit cardholder.

4. How do I use my Credit Card?
It is very simple and easy to use your credit card. Instead of paying cash, you can just swipe your card at the merchant location. Two receipts will then be printed for you to sign. The merchant will keep one copy and hand you over the second copy. At the end of the billing period, you will receive a statement which shows all the transactions that you have made during the past month. You are required to settle at least the minimum due amount within the due date. Failure to do so will add late payment penalty fee and interest to your statement.

Your credit card also allows for instant withdrawal of cash. This is very easy to do as described below:
  • Insert you Visa credit card in the card slot. (Some ATM machines will pull the card inside the machine automatically while in others you have to dip the card in and pull it out quickly.)
  • Select the language you desire either Nepali or English. Other languages may be available in India.
  • Enter your pin number.
  • Select withdraw funds to take money out from the ATM
  • Enter the desired Rupees Amount.
  • Make sure to take your cash, credit card and a receipt.
5. How often can I use my Card?
You can use your card as often as you wish, provided you do not exceed your pre-set credit limit. Once a card is used, the card limit decreases until the time payment is received from you.

6. Can I withdraw cash from my credit card, if yes how much and what will be the associated charges?
Yes, you can withdraw cash(cash advance) from your Credit card in any of the ATM terminal in Nepal, India and Bhutan. In case of cash advance, the limit are assigned 50% of the total limit or NPR.16000 (whichever is less). The charges levied on cash advance transaction are as follows:
Onus Cash Advance (NMB ATM) Rs. 100 or 2%(whichever is higher)
Offus Cash Advance (Other Banks ATM) Rs. 200 or 4%(whichever is higher)
Offus Cash Advance (Indian Banks ATM) Rs. 300 or 5%(whichever is higher)
The cardholder shall also be levied with interest rate of 2.5% on the cash withdrawal from ATM terminal from the date of transaction.

7. What are things the cardholder should know before using credit Card ?
A Credit Card is always issued with a pre-set limit, which is determined by financial history and the income source of the applicant and also complying with the rules and regulation set by Nepal Rastra Bank. A cardholder is requested not to exceed its limit at any point of time or else further credit may be denied at any merchant location and an excess over drawn fee is also charged. The cardholder is facilitated with overlimit credit of 10% of the pre-set limit.

If it becomes necessary for cardholder to the limit on temporary or permanent basis on events such as travelling on a long vacation, business promotion tour or willing to make a major purchase, cardholder are requested to inform us in writing at least a week prior to the pre-planned tour or purchase.

8. What if my credit card limit is exhausted and if I want to use it further?
In case if your card limit if fully utilized, every cardholder is facilitated with overlimit credit of 10% of the pre-set limit. Overdrawn fee shall be levied. For example: Mr. A have a credit limit if Rs.50000 and have used all of it. Mr. A can still use upto Rs.5000/- more (10% of 50000), and will be charged overdrawn fee as well.

9. How much I should pay during monthly due date?
Let’s elaborate this by following example:
  • Credit Card Limit- NPR 30,000
  • Purchase - NPR 20,000
Credit Limit 30,000
Purchase 20,000
Available Credit limit 10,000
Minimum Amount due ( 10% of total outstanding or NPR 1000 whichever is higher) NPR 2,000

Suppose you have a credit card have limit of NPR 30,000. You made a purchase transaction of Rs.20000. If you pay the entire amount on or before the Payment Due Date, in that case you will not incur any financial charges. If you pay the Minimum Amount Due (MAD) of Rs.2000 (10%) of the outstanding amount), you will be levied 2% daily interest on the remaining dues of Rs.18, 000. But if you failed to pay MAD of Rs.2000 you shall be levied interest rate of 2% on remaining dues and late payment fee of Rs.400 (300 or 2% whiciever is higher) as well. If you continue to have unpaid dues for the 2nd billing cycle then the interest rate shall be increased to 2.25% and 2.5% for the 3rd billing cycle.

Failing to payment on subsequent billing cycle will charge higher interest rate and if incase you are not been able to make payment on third billing cycle your card will be blocked and necessary recovery action shall be taken by the Bank.
Following are the financial charge:
Interest on Cash Advance 2.5%
Interest on Remaining dues (POS) 2%*
*Note:Interest Rate charge of 2% will be applicable for the first billing cycle after the Payment Due Date. Similarly 2.25% and 2.5% for the 2nd and 3rd billing cycle respectively.
Late Payment Fee Rs. 300 or 2% (whichever is higher)

10. On which day is the Billing Statement provided to the card holder?
The Statement shall be e-mailed to the respective cardholder on 25th Day of every English (Gregorian) calendar month. Hence, it must be ensured that the we obtain proper email address of the customer.

11. On which day does the Payment Due Date Falls?
Payment Due Date falls on 15 working days after the statement date.

12. What if I am not able to pay my bill on time?
On the payment due date if you do not have sufficient balance resulting in outstanding due then interest will be charged. This will affect your credit limit as well as your credit history and might create trouble for you while making further transactions. Hence, to avoid such embarrassing circumstances you are requested to make the payment on time.

13. What security measures should I follow to protect my card?
Following security aspects should be given due consideration for secure card transaction.
  • Affix the signature on the signature panel at the back of the card immediately after receiving the card.
  • Do not give the card or reveal the card number to anyone in any circumstances. (Except to the merchant you are transacting with).
  • Do not sign on blank charge slips.
  • Keep the charge slips till final settlement is made.
  • Do not use the card for mail / telephone order and internet transactions. These are very risky transaction and your card number can be compromised. You will be held liable for all transactions appearing on your card statement.
  • Inform the card issuing bank immediately in case the card is lost/stolen.
  • Please maintain the record of the card number and the telephone number of the Bank separately as the need may arise.
14. What if my Card gets lost or stolen?
In such cases, please inform Card and Alternate Delivery Channel Division at the contact detail mentioned beloww , to block the usage and request for replacement immediately.

15. How safe is my Card?
Your Credit Card is a safe, secure and convenient financial management tool that offers many benefits. It is important to remember that owning a credit card carries many responsibilities. When used improperly, credit card can get you into trouble.

We hope all the above mentioned information will be useful for our cardholder to manage the usage of their credit card efficiently and to get the maximum possible benefits.
 
Applicable Fees and Charges
To download the application for, please click the link below:
Download Form

For further queries, please contact us at:
Cards & Alternate Delivery Channel Division
NMB Bank Limited
Sitapaila Chowk, Ring Road
Kathmandu, Nepal
Phone: +977-01-4671444 / +977-01-4671666
Extensions: 143/360/407/409/ 410/ 411/ 414
Toll Free no.: 1660-0125-252
Fax: +977-01-4277013
Mobile No: +977-9851176101/977-9851176102
Email: card@nmb.com.np
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