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Visa Signature Credit Card

Seylan Visa Signature Credit Card Step into a world of offers, privileges and experiences at ease with your Seylan Visa Signature Credit Card

  • 50% waiver on the First Year Joining Fee & Annual Fee Waived off for the 1st Year as an introductory offer.
  • Enjoy Lounge Key access to over 1000 Lounges Worldwide. Cardholder’s first lounge visit will be complimentary.
  • Enjoy offers at Gold Club Privileges and preferred hotels and restaurants – visit My card Benefits
  • Enjoy finest deals with over 800+ merchants worldwide
  • 30 Days Free Travel Insurance, when you purchase the return Air Ticket through your Seylan Visa Signature Credit Card
  • NFC enabled cards let you pay without swiping or dipping your card
  • Receive an array of privileges at the best restaurants around the world, when booked via Visa Concierge App.
  • Enjoy worldwide concierge with assistance in travel, entertainment and experiences, special services and gift purchases through the toll free contact number
  • Manage your Credit Card payments with convenience using the Instalment Plan Facility.
  • Enjoy a smooth travel experience with a range of hotel offers across the Globe & travel – car hire offers
  • Cash Advance up to 50% from your available credit limit.
  • Enjoy wide range of card “Deals & Promotions”.
  • Earn cash back Loyalty Point for every LKR 300 or equivalent on purchases made locally or overseas. (1Loyalty Point = LKR 1)
  • Free SMS Alert on your Seylan Credit Card transactions
  • Enjoy offers on the Visa Airport Limo transfer program, Airport Meet & Greet and lounge access
  • Seylan e-statement with password protection

  • Get your Seylan Credit Card updates via a SMS Anywhere, Anytime.

    • 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
  • Register for Internet & Mobile Banking at Zero Cost
  • Perform online transactions to purchase goods & services, make bill payments wherever you are, whenever you need

Eligibility

  • Age Between 18 – 65
  • Salaried – Net Income > LKR 300,000.00 per month
  • Self-employed – Average credit turn over > LKR 2.5Mn per month
  • Credit Limit
    • Credit Limit is subject to the credit evaluation.

Overseas spend thresholds

Spend Type Weekly Limit*(LKR)
Purchases 150,000.00
Cash 50,000.00

* Above limits are subject to country risk evaluation, hence certain countries may have lower spend limits.

Credit Limit, Interest Rate & Fees

Description Amount(LKR)/ Details/ Rates
Credit Limit LKR 1,000,000.00 and above
Cash Advance Limit 50% of the Credit Limit
Interest Rate %p.a. 30.00% w.e.f. 01-May-2022
Annual Fee* LKR 6,000.00
Joining Fee* LKR 2,750.00
Supplementary Card Fee LKR 3,000.00
Interest Free days on Purchases (maximum)

51 Days (Interest free days are applicable only when full settlement is made monthly and is not applicable for cash advances).
Late Payment Fee LKR 1,500.00
Over Limit Fee LKR 1,250.00
Cash Advance Fee LKR 700.00 or 4.00% whichever is higher
Pin Re-Issue Fee FREE
Handling Fee - Paper Statement FREE
Statement Copy Fee FREE
Confirmation Letter issuing fee FREE
Voucher Copy Retrieval Fee FREE
Cheque Return - Refer to Drawer FREE
Cheque Return - Other Reasons FREE
Lost Card Replacement Fee FREE
Overseas Courier Fee LKR 4,000.00
Limit Enhancement Fee FREE
Cash Payment through Cargills Food City Outlets Handling fee of 0.75% flat
Fuel Surcharge 1%
Overseas Transactions

All overseas transactions will be converted using VISA International exchange rates. In order to mitigate local exchange rate movements, an additional amount (minimum of 7.0%**) will be included to the rate at the time of billing.

** Rates are subjected to market rate fluctuations.
Processing Fee

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.

** First Year Annual Fee will be waived off as an introductory offer.

***Joining Fee is 50% waived off as a promotional offer. 

General Conditions

  • The Bank reserves the right to change the above rates at any time with prior notice.
  • No refund of Annual Fees will be made if the card is terminated or not accepted.
  • No Finance Charge will be levied (except on Cash Advances) if full settlement is made monthly on or before due date.
  • Additional expenses, such as legal fees, credit transfers, cheque issuance and overseas charges (courier, fax, postage etc.) will be levied where incurred.
  • Secured cards (against a FD) will be issued "First Year Free" and will attract lower interest rates.
  • Government Stamp Duty of 2.5% will be applicable for all foreign currency transactions and debited to the account in the following billing cycle.
  • Cards agreement
  • Code of Conduct for Credit Card Operations

How to get started

Or

Against a Fixed Deposit as Security, with 90% of you deposit value as your Credit Card Limit.

Click here to view tariff 

Modes of Credit Card Payment

  • 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.

Interest Calculation

  • 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 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 first in first out basis
  • Cash advances will accrue interest from the date of transaction until it is paid in full.
  • Sample Interest calculation

Minimum Payment = 5% of outstanding purchases and cash advances + 100% of interest, fees and the overdue amount (if any)

If the customer fails to pay the minimum payment on or before the due date the late payment fee will be charged.

If the customer exceeds the approved credit limit at any at any given date of the particular billing cycle, an over limit fee will be charged.

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.

 

 

FAQs

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.