Bank Islam Visa Infinite Business Card-i is a card that is packed with exclusive privileges and benefits. It is a business card so it is designed to meet the business needs. You get fee waiver, complimentary access to the Plaza Premium Lounges, Takaful Travel Protection cover and more.
The Bank Islam Visa Infinite Business Card-i is designed for:
The product offers convenience to help you manage your business expenses that are incurred by the employees who are authorised cardholders.
Following are the features and benefits of Bank Islam Visa Infinite Business Card-i:
|Shariah concept used||The shariah concept used is Tawarruq. It is the purchase of a product on a deferred payment basis. The commodity is purchased from the Bank at the Bank’s sale price. The Bank performs the purchase for the customer. The Bank then sells the commodity to the purchaser at the cost price.|
|Complimentary benefits||Access to Plaza Premium Airport Lounges per year per card.|
|Takaful coverage||Up to RM2 million.|
|Purchase protection takaful plan||Up to RM10, 000.|
|Other benefit||Corporate liability waiver.|
|Monthly payment||5% of outstanding balance or RM50, whichever is higher is the minimum payment due.|
|Grace period||The grace period for retail transactions are 20 days from the posting date.|
|Late payment||If you are late to pay the dues, you will be charged a late payment fee. If you have any deposits, the balance will be set off against it. Your card will be cancelled or suspended or terminated and then proceed with recovering the outstanding balance.|
|Risks associated with Bank Islam Visa Infinite Business Card-i||The following are the risks associated with Bank Islam Visa Infinite Business Card-i:
Following are the fees and charges applicable for Bank Islam Visa Infinite Business Card-i:
|Card replacement fee||RM50|
|Additional statement request fee||RM5.30 per copy per request.|
|Sales draft retrieval fee||Original- RM15.90 per draft. Copy- RM5.30 per copy.|
|Over limit fee||None|
|Overseas transaction conversion fee||Subject to the conversion rate at the time.|
|Late payment fee||1% of the outstanding balance or RM5, whichever is higher. Maximum of RM50 can be charged by the bank.|
Use the card wisely to avoid getting in debt that you can’t handle and pay the dues on time and make the most of the benefits it has to offer to the business.