Kathmandu. Do you use a credit card? Whether you have understood the terms of this card from the bank or not. If not, you need to be careful.
KATHMANDU: Nepal Rastra Bank (NBA) has issued a public awareness message today urging people to use credit cards only with understanding. Credit cards are electronic payment instruments issued by Class ‘A’ commercial banks and national level ‘B’ and ‘C’ class financial institutions.
Generally, there is no interest charged if you pay the amount using a credit card within the specified timeframe. However, if the payment is not made within the stipulated date, a higher rate of interest may be charged. Therefore, it is important to make a habit of paying money on time using a credit card.
Credit Card Requirements
- Purchase Limit & Cash Limit
- Payment Period
- Penal Interest
- Transaction details, medium, day and interval
- Complaint process
- Other Terms and Conditions
{{TAG_OPEN_li_21}Annual renewal fee
The central bank has warned that the disciplined use of credit cards is not only beneficial, but its inattentive use can also lead to the risk of high debt. “So let’s be a careful user and use our credit cards safely,” the central bank said.
