Pan Asia Bank launches ‘Black’ credit card with market’s lowest interest rate
Friday, 27 September 2013 04:45
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Pan Asia Bank recently added yet another innovative product to its credit card portfolio by launching the Pan Asia Bank ‘Black’ MasterCard, which offers an unparalleled true value to cardholders by way of offering the lowest interest rate in the market.
With the introduction of this new product which falls under the premium ‘Titanium’ category of MasterCard, Pan Asia Bank is now offering three card products targeted at three distinct customer segments, namely World MasterCard, Pan Asia Black and Pan Asia Gold.
While the most salient feature of the new Pan Asia Black Card is the lowest interest rate of 19.75% p.a it offers, it also boasts of following value added features: Free of charge balance transfer from other local credit cards; no joining fees or hidden charges; more security with the EMV chip card; and incredible offers and discounts
Commenting on the Pan Asia Bank’s latest product to the market, Irishad Ally – Deputy General Manager (Retail and SME Banking), said: “With this new product, Pan Asia Bank is coming out to the Sri Lankan consumer with the most cost effective credit card. With our lowest interest of 19.75% whereas the market rate is at 24% p.a., the consumers will have a clear benefit of 4.25% p.a on their revolving balances. This benefit can be easily enjoyed by transferring the other bank credit card balance to Pan Asia Bank credit by simply availing the ‘Balance Transfer’ facility of the bank. Pan Asia Bank Black and Gold card customers can enjoy the balance transfer facility up to 70% of the approved credit limit/available credit limit of the card. To avail this facility, customers only need to complete a simple form and provide their credit card statements of last three months. There is no joining fee for a new customer and there are no hidden charges in the credit card account.”
“Since this card comes under premium card range of MasterCard, customers are automatically entitled to a host of premium card benefits coming out from MasterCard. In addition, the card is safer to use since it is a Chip enable EMV card and has the security protection from the fraudulent transactions.”
He further stated that the bank would be arranging local merchant discounts and value additions for this new card as an added benefit to cardholders.
Commenting on the launch, Vikas Varma, Area Head, South Asia, MasterCard Worldwide, said: “We are delighted to partner with Pan Asia Bank for this innovative credit card. Our association with Pan Asia Bank allows customers to enjoy a number of unique and unrivalled privileges worldwide. Through the MasterCard Priceless Cities program, these customers can now access a wide range of offers and services, in categories such as shopping, dining, travel and entertainment, in 30 international Priceless destinations including some of the most iconic cities such as London, Paris, New York, Singapore and more.”
“In Sri Lanka, MasterCard offers several exclusive deals to customers. Through this association, Pan Asia Bank customers can now enjoy offers and services across categories that are available at several best-in-class merchants including apparels and accessories, gems and jewellery, package tours, car rentals, restaurants and resorts. We are extremely excited and hope to conclude many more such partnerships that will go a long way in promoting electronic payments in Sri Lanka,” added Varma.
Prospective cardholders can apply for a Pan Asia Black MasterCard by visiting any of the bank’s 76 branches around the country or by simply calling the Call Centre on 0114667222 to arrange for a Personal banking Associate to visit them.
