World Mastercard Credit Card


Seylan World Mastercard Credit Card is more than just a card, it is your opportunity designed to step into a world of offers, privileges and exclusive benefits.


  • Maximize the usage of your Seylan World Mastercard Credit Card
  • 50% waiver on the First Year Joining Fee & Annual Fee Waived off for the 1st Year as an introductory offer. 
    Enjoy amazing offers & benefits with the first year annual fee waived off.
  • Travel Insurance
    30 Days Free Travel Insurance when you purchase the return Air ticket through your Seylan World MasterCard Credit Card
  • Boingo Wi-Fi
    Wi-Fi Access with access to over 1 million Wi-Fi Hotspots worldwide at Hotels, Restaurants, In Flight and many more locations.
    Find Out More >
  • LoungeKey program
    Experience superior lounge facilities such as refreshments, spas, free Wi-Fi access with LoungeKey access to over 1100 Lounges in over 130 countries worldwide.Cardholder's first lounge visit for the year will be complementary. 
    Find Out More >
  • 800+ Offers worldwide
    Enjoy the finest deals with over 800+ merchants worldwide. Be it clothing, dining, electronics, accessories, education, health, online or holiday offers, Seylan Bank have you covered.
  • TPC Golf
    Enjoy priceless privileges and golfing benefits at selected TPC courses with access to private clubs and resort courses around the world, membership amenities and welcome gifts.
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  • Cash Advance
    Obtain cash withdrawals up to 50% from your available Credit limit.
  • SMS Alerts
    Free SMS alerts on your Credit Card transactions to the registered mobile number
  • Global Healthcare & Medical Packages
    Access to world class hospitals in Singapore, Malaysia & Thailand from Global Health & Travel at exclusive rates
    Find Out More >
  • Mastercard Priceless Cities Platform
    Exclusive, cardholder-only access to exceptional, curated experiences in the world's most exciting destinations
    Find Out More >
  • NFC enabled
    Contactless payments let you perform secure transactions without swiping or dipping your card
  • Cash back Loyalty points on Purchase transactions
    For every LKR 300.00 or equivalent spent locally / Overseas = 1 Loyalty Point = LKR 1
  • Installment Plan facilities
    Manage your Credit Card payments with convenience using Installment plan facilities
    Find Out More >
  • Seylan e-statements
    Seylan e-statements are provided with password protection. You will receive a consolidated e-statement.
    Find Out More >
  • A wide range of “Deals and Promotions”
    Deals and Promotions >

 

Eligibility criteria

  • Age between 18-65 years
  • Salaried - Net income > LKR 300,000/- (per month)
  • Self employed - Average Credit turn over > LKR 2.5Mn per month

Self employed

Limit to be decided upon credit evaluation only.


 

Overseas spend thresholds

Spend Type Weekly Limit*(LKR)
Purchases 500,000.00
Cash 100,000.00

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


Credit Limits, 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. 36.00% p.a.- w.e.f. 01 August 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

Over Limit Fee

LKR 1,250.00

Cash Advance Fee

LKR 700.00 or 4% 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

Travel Insurance Fee (per Policy) -

Up to 30 days

FREE
SMS Alert Fee ( Per Annum) FREE
Processing Fees for Branch Counter Cash Withdrawals FREE
Fuel Surcharge 1%

Overseas Transactions

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 4.50%**, apart from the initially authorized amount.


This applies to all Card transactions done at overseas merchants /service providers and websites registered outside of Sri Lanka but billed in Sri Lankan Rupees (LKR) as well, since the settlement of such transactions from the Bank to Merchant occurs in a foreign currency.


**Rate is subject to foreign exchange market rate fluctuations.

Processing Fee

Not Applicable

Cancellation Letter Issuance Fee LKR 2,000.00
Easy Payment Plan Early Settlement Fee 4% from the remaining balance.
Urgent Application Processing Fee LKR 1,500.00

*First year Annual fee will be waived off as an introductory offer.

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


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

 

Modes of Payment Payment Cut-Off Time Payment Updating Time
Payments through Seylan Internet Banking or Seylan Mobile Banking Application. 3.00 PM Real Time
CEFTs transfers from a current or saving account through CEFTs enabled banks’ Internet Banking or Mobile Banking Application.
Cash deposits at any Seylan Cash Deposit Machine.
Cash Payments at Cargill’s Food City Outlets (Subject to a handling fee of 0.75% flat).
Cash Deposit at any Seylan Bank Branch counter. Branch Closing Time
Cheque Deposits at any Seylan Bank Branch. 1.00 PM Same day if it is a Seylan Bank cheque or else upon realization.
Automatic transfer instruction from Seylan Savings or Current Account (Direct Debit/Standing Instruction) N/A Same day ( when the Direct Debit/ Standing Instruction is effected)

 

 


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 the 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.
 

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 “First Year Free” and will attract Lower Interest rate.
  • LKR 25.00 will be charged for every LKR1,000.00 spent on foreign transactions (Government Stamp Duty)
  • The Bank reserves the right to change the above rates at any time with prior notice.

 

FAQs

Loss of card should be immediately reported to our 24/7 Seylan Customer Care Centre via hotline +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 5 working days and maximum of 7 working days once the relevant documents are handed to the branch / sales officer.

Minimum Payment = 3.00% of total outstanding (purchases and cash advance) + 100% of Interest + fees and the overdue amount (if any).

If the customer fails to pay the Minimum Payment by 3.00 PM on 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              : 21st Feb 2022 after 3.00 PM
Late Payment Fees*   : LKR 1,500.00

*Late Payment Fee will be reflected on 28th February 2022 Billing Statement. 

If the customer exceeds the approved Credit Limit at any given date of the particular 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 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.