Sign up for a Seylan Mastercard Freedom Credit Card & enjoy Freedom from Fees.
- A Mastercard Titanium with EMV.
- Up to 51days of Interest – Free – Credit
- Free SMS Alert in every transaction to ensure high security.
- Enjoy attractive Promotional discounts right throughout the year, when you pay with your Seylan Freedom Credit Card.
- Manage your Credit Card payments with convenience using the Call & Convert Installment Plan Facility.
- Enjoy purchasing with 0% interest free Installment Schemes on selected categories
- View your statements on the go with Seylan e-statement.
- Purchase your “Return Air Ticket” using your Mastercard Credit Card, and be entitled to a complimentary Travel Insurance cover.
- Get a “Cash Advance” from your Seylan Credit Card from any ATM machine.
- Transfer your other bank Credit Card balances to Seylan Credit Card and enjoy savings using Seylan Bank Balance Transfer Instalment Plan option
- Seylan Maretercard Freedom Credit Card is now NFC (Near Field Communication) enabled making transactions swift and easy for all customers
- Get your Seylan Credit Card updates via a SMS Anywhere, Anytime
- The card has a spend commitment of LKR 10,000.00 per month. If Spend Commitment is not met a maintenance charge of LKR 750.00 will be recovered. The Calculation of the Minimum Spend Commitment is done based on the transactions billed on the respective billing cycle.
- No Fees applicable except for the maintenance charges*.
- No Access to Express Cash facility.
Credit Limits, Interest Rates & Fees
|Credit Limit||LKR 50,000.00 and above|
|Interest Rate %p.a.||30.00% w.e.f. 01-May-2022|
|Fees||No fees applicable except for the Maintenance Charge*|
|Cash Advance Limit||40%|
All overseas transactions will be converted using the applicable Telegraphic Transfer (TT) exchange rate of the Bank at the time of billing. In order to mitigate local exchange rate movements, the final billing amount will consist of an additional amount of minimum 7.00%**, apart from the initially authorized amount.
** Rates are subjected to market rate fluctuations.
In order to mitigate the risk of exchange rate variances, all Card transactions done at overseas merchants/service providers and websites registered outside of Sri Lanka but billed in Sri Lankan Rupees (LKR) in the form of Dynamic Currency Conversion or Multi-Currency Transactions will attract a Processing Fee of minimum 3.5%** on the LKR transaction value.
** Rates are subjected to market rate fluctuations.
Overseas spend thresholds
|Spend Type||Weekly Limit*(LKR)|
* Above limits are subject to country risk evaluation, hence certain countries may have lower spend limits.
- Sri Lankan citizens of 25 years and above
- Have a minimum monthly income of LKR 100,000.00(net).
- Instant Credit Card when you place a Fixed Deposit as Security, with 90% of you deposit value as your Credit Card Limit.
- Duly completed application form
- National Identity Card
- Last 3 Months Certified Pay slips
- Billing Proof
- Letter of Confirmation
Note : Any other documents pertaining to the matter will be requested by the bank, to ensure better customer service in the future.
Option 1 : Simply call us on 24/7 our customer care +94 11 200 88 88
Option 2 : Simply make a request through our 24/7 Seylan Chat Agents.
Option 3 : Visit the nearest Branch
Apply for SMS Service?
For a single card:
- Type SBK CC & Send to 3040 from your registered mobile number
If you have multiple cards,
Type SBK CC (Last 4 digits of your credit card) & Send to 3040 from your registered mobile number.
- No interest will be levied (except on cash advances) if full payment is made on or before the due date. You will enjoy up to 51 days free of interest (depending on the transaction date), provided the previous months total outstanding is paid by the due date in full.
- If full payment is not settled on or before the due date, interest will be calculated from respective transaction dates up to the billing date on reducing balance basis.
- Interest/ Finance charges will be charged if full payment is made after the due date
- Interest will not be charged for purchases billed in current month but will be charged on the following month (from the transaction date) if not settled in full by for due date.
- Interest to a particular transaction will be charged from the transaction date on the following month and there onward from the billing date, if rolled over.
- Payments are first applied to charges and then to purchase and cash advances on FIFO basis.
- Cash advances will accrue interest from the date of transaction until it is paid in full.
- Sample Interest Rate calculation
- Credit Card bill payments through Seylan Internet Banking or Seylan Mobile app by downloading via Play store or App store. Payment will be updated to the Credit Card Account real time.
- Automatic transfer instruction (Direct Debit) to recover the Card due amount on the due date from your Seylan current or saving account on monthly basis.
- Make real time payments via CEFTs transfers from a current or saving account through CEFTs enabled banks’ Internet Banking or Mobile Banking.
- Real time cash deposits at any Seylan Cash Deposit Machine
- Cheque deposits at any Seylan Bank branch which will be updated upon realization.
- Cash deposit at any Seylan Bank counter to get the payment updated real time.
- Cash payments at Cargill’s Food City Outlets (Subject to a handling fee of 0.75% flat). Payment will be updated to the Credit Card Account real time.
Terms and Conditions
- No refund of Annual Fees will be made if the card is terminated or not accepted.
- No Financial Charges will be levied (except on Cash Advance) if full settlement is made monthly on or before due date.
- Additional expenses, such as legal fees, credit transfers, cheque issuance and overseas charges (e.g. courier, fax, postage etc.) will be levied where incurred.
- Secure Card (against Fixed Deposits) will be issued “Free of Charge” and will attract “Lower” Interest rate.
- Government Stamp Duty of 2.5% will be applicable for all Foreign Currency Transactions and debited to the account in the following billing cycle.
- The Bank reserves the right to change the above rates at any time with prior notice.
Loss of card should be immidiatly reported to our 24/7 Seylan Customer Care Centre via hoteline +94112008888 and should be follow up with a letter handed over to the nearest branch or via Internet Banking - User Message. Once reported, the customer will not be liable for any transactions performed subsequent to informing the loss of the card to the bank.
It will take a minimum of 7 working days and maximum of 12 working days once the relevant documents are handed to the branch / sales officer.
Minimum Payment = 2.5% of outstanding Purchases and Cash advancec + 100% of Interest rate, Fees and the Overdue amount (if any)
If the customer fails to pay the Minimum Payment on or before the due date.
Example : Late Payment Fees
|Statement Date : 31st January 2022|
|Payment Due Date : 21st Feb 2022 Minimum Payment LKR 393.04|
|Payment Data : 22nd Feb 2022 (One Day Delayed)|
|Late Payment Fees* : LKR 1,500.00|
*Late Payment Fee will be reflected on 28th February 2022 Billing Statement.
If the customer exceeds the apprvoed Credit Limit at any given date of the perticular billing cycle, an over limit fee will be charged.
Dynamic Currency Conversion
Dynamic Currency Conversion (DCC) is the conversion of the purchase price of goods or services from the currency in which the purchase price is displayed to the cardholder's billing currency. That currency then becomes the transaction currency, regardless of the merchant's local currency.
DCC is not a Visa / Master service, but merchants and ATMs offer it through their acquiring bank. At checkout, the merchant or ATM may convert the advertised price to the currency agreed to by the cardholder, and usually assesses a conversion-related markup (over a wholesale exchange rate or government-mandated rate). The cardholder must be offered a choice to accept or decline the DCC and must actively choose the DCC option prior to the merchant or ATM processing the transaction. The merchant or ATM must accept the cardholder's choice; if the cardholder refuses DCC, the merchant or ATM must process the transaction in their local currency
Multi-Currency Transactions – LKR
Transactions performed locally in LKR at merchant outlets / web sites but the Acquiring Bank of the Merchant is not a Locally registered Bank. Hence the Bank to Bank settlement is in Foreign Currency.