Standard Chartered Bank is offering zero interest rate instalment schemes on purchases made on its credit cards. “People usually have about two or three cards in their wallet, but we want to be the preferred card, when it comes to purchasing things as there is a lot of value addition,” says Vishnu Mohan, CEO Standard Chartered Bank.
The scheme is limited to partner merchants like, Dialog GSM, Singer Sri Lanka, Nokia mobile handsets, Lifestyle Furniture, Hayleys Consumer, Abans and Dell Computers.
Standard Chartered cardholders can pick up a purchase from selected merchants, fill up a form and walk off with their goods.
Once the card is swiped, the bank will convert this transaction to an ‘instalment payment scheme at zero interest’. The offer runs from August 19 to November 30, 2004.
With just over 85,000 cardholders, Standard Chartered is Sri Lanka’s second largest credit card issuer under HSBC.
As at end June, there are 427,075 cards in circulation, carrying an outstanding balance of Rs. 8,834 mn, according to the Central Bank of Sri Lanka.
Standard Chartered Bank declines to discl