ComBank launches credit card for SMEs | Sunday Observer

ComBank launches credit card for SMEs

6 September, 2020

The Commercial Bank of Ceylon has launched an exclusive credit card for Small and Medium Enterprises (SMEs).

The Bank will issue the Mastercard-branded Credit Card to entrepreneurs that fall into the SME category as defined by the Central Bank of Sri Lanka (CBSL), and meet the standard credit evaluation criteria. For members of the Bank’s Biz Club, the card has been named ‘ComBank Biz Club SME Credit Card’ while for other SMEs of the card bears the name ‘ComBank Business SME Credit Card,’ the Bank said.

The card will provide several other benefits to cardholders, such as a waiver of the joining fee and annual fee for the first year, free access to Commercial Bank’s Mobile Banking (USSD and SMS) services, free registration for the Bank’s Online Banking platform combined with a waiver of the annual fee for the first year of use, and free registration for Paymaster – the Bank’s bulk payments platform – and a waiver of the fee for the first month of use and a travel insurance for overseas travels.

The credit cards will also be eligible for Mastercard sponsored international and domestic offers exclusive to that category of cards and will be eligible to earn higher ComBank Max Loyalty points at the rate of one point for every Rs. 400 spent through the card, a Bank spokesman said.