KBZ Visa Credit Card
KBZ VISA Credit Card
KBZ Visa credit card is a kind of unsecured personal loan provided through a “plastic card” which can be used for payment of goods & services or cash withdrawal.
There are two (2) types of Visa credit card issued byKBZ bank i.e Platinum & Classic cards with PayWave function. KBZ Visa payWave is a contactless method of payment – the latest evolution in Visa payments. It is simple, secure and quick payment method. The technology enables cardholders to ‘tap’ their card on a contactless POS terminal to make transactions up to the amount set by merchant’s acquiring bank, rather than ‘swiping or dipping’ their card into POS terminals. The cards have a tiny antenna embedded into the chip which securely transmits payment instructions to and from a specially adapted card terminal.
Customers can apply for any of the card based on their income eligibility.
Guide to using VISA Credit Card
Since your credit card is only in inactive mode, it is necessary to activate the card at the KBZ bank branch when you pick up the card.
To Activate the Card
(1) There is a signature area on the back of the card, you must sign in that space.
(2) The activation form must be signed.
Steps to change ATM PIN
(1) As soon as your credit card is activated by the bank, the PIN number will be sent to your mobile phone number by SMS.
(2) Insert your credit card at the nearest KBZ ATM to change the new PIN number you wish to keep.
(3) Select to change the PIN number after adding the card.
(4) Enter the OTP you have received at the ATM.
(5) To change the new PIN, enter the new ATM PIN (6) numbers that you want to keep two times.
(6) The card can be used only after changing that PIN number to your own secret PIN number.
Platinum & Classic Card Features
Global Visa Merchant Acceptance (Domestic & International)
Global Cash Advance, POS and Online Purchase
Contactless
Secured by EMV Card Standard
15-45 days of free revolving credit facility
Minimum Payment Options (10% or MMK 10,000 whichever is higher)
If the outstanding amount is below MMK 10,000, actual amount is applicable
Supplementary cards applicable (up to 4 cards)
Platinum Benefits
Global Visa Platinum Benefits
Personalized Service Assistance
MPT Customers – 09969508666
Non-MPT Customers – 8666
24 x 7 Concierge Services
Exclusive discounts/rewards at participating merchant partners
Global Emergency Support
Overseas Travel Accident Insurance (2 times per year)
Classic Benefits
24×7 Customer Service
MPT Customers – 09951018555
Non-MPT Customers – 8555
Exclusive discounts/rewards at participating merchant partners
Eligibility to Apply for Card
- 21 years and above for Primary
- 18 years and above for supplementary
Minimum Monthly income:
- Classic: MMK 300,000
- Platinum: MMK 2,000,000
Visa Credit Card – Classic
| Fees & Changes | Classic |
|---|---|
| Joining Fee (Principle) | 15,000 MMK |
| Joining Fee (Supple) | 7,500 MMK |
| Annual Fee (Principle) | 20,000 MMK |
| Annual fee (Supple) | 10,000 MMK |
| Pin Reissuing Fee | Free |
| Replacement Card Fee | 10,000 MMK |
| Cash Advance Fees (KBZ ATM) | 5% (Min - 5,000 MMK) |
| Cash Advance Fees (Other ATM) | 5% (Min - 5,000 MMK) + Other Bank Charges |
| Cash Advance Fees (International ATM) | 5% (Min - 5,000 MMK) |
| Late Fees (Per Month) | 3% (Min - 10,000 MMK) |
| Balance Inquires Fee ( Any ATM) | Free |
| Interest (Per Year) | 20% |
| Temporary Limit fee | 10,000 MMK |
| Over Limit Fee | 5000 MMK |
| Bank Statement Printing Fee | 1,000 MMK |
Note: Cross Currency Conversion Fees and International Network service fees will be applied for international transactions and foreign Currency Usage.
Visa Credit Card – Platinum
| Fees & Changes | Platinum |
|---|---|
| Joining Fee (Principle) | 30,000 MMK |
| Joining Fee (Supple) | 15,000 MMK |
| Annual Fee (Principle) | 120,000 MMK |
| Annual fee (Supple) | 75,000 MMK |
| Pin Reissuing Fee | Free |
| Replacement Card Fee | 10,000 MMK |
| Cash Advance Fees (KBZ ATM) | 5% (Min - 5,000 MMK) |
| Cash Advance Fees (Other ATM) | 5% (Min - 5,000 MMK) + Other Bank Charges |
| Cash Advance Fees (International ATM) | 5% (Min - 5,000 MMK) |
| Late Fees (Per Month) | 3% (Min - 10,000 MMK) |
| Balance Inquires Fee ( Any ATM) | Free |
| Interest (Per Year) | 20% |
| Temporary Limit fee | 10,000 MMK |
| Over Limit Fee | 10,000 MMK |
| Bank Statement Printing Fee | 1,000 MMK |
Note: Cross Currency Conversion Fees and International Network service fees will be applied for international transactions and foreign Currency Usage.
Why choose KBZ Visa Credit Card?
Convenient
Never have to worry about not carrying enough cash when you are out.
Shop Online
Make online payments on e-commerce websites.
Secure
No need to worry about your cash being stolen with our EMV Smart Chip Technology
Required Documents
Salaried(any two)
- Pay Slip
- 3 Month Bank Statement
- Employer confirmation letter
- Copy of Tax Book
Self Employed(any two)
- Last 6 month bank statement
- Business license Company registration
- Last 6 month bank statement
- Business license/Company registration
- Previous year Tax Receipt
Identification Document
- Copy of NRC(both sides), Supplementary application included
- Recent Passport size photo (applicable for principal cardholder)
- Copy of Household Registration Certificate
- Ward Registration Letter (Original)
Other Requirements
Description | No Guarantor Required | Guarantor Required |
Definition | Loan Customers or Bank Customer who maintains daily credit balance for past 6 months>MMK3 Mio | Existing KBZ Bank customers who do not have daily credit balance for past 6 months> MMK 3Mio or Non Bank Customer |
Security / Collateral | Not Applicable | Require 1 Guarantor or the applicant to place deposit under LIEN equivalent to Credit Limit |
Guarantor Criteria | Not Applicable | Require 1 Guarantor or the applicant to place deposit under LIEN equivalent to Credit Limit |
Documents required from Guarantor | Not Applicable | Copy of NRC Two photos (passport size) Household registration (WAIVED for loan customer) Ward registration letter |
Want to open this account?
Contact Us Today
Call us now
and speak to one of our advisors
(+959) 951018555
Apply in Branch
Find your nearest KBZ branch and come and talk to one of our advisors in person