VISA Corporate Credit Card
Smarter Spending for Your Business
Empower your business with secure and flexible corporate credit.
VISA Corporate Credit Card is a type of credit card that can be issued to a registered entity or selected employees of the organization for their official use. It is aimed to eliminate existing cash advance system. The Corporate Credit Card can be used to make payments at hotels, for transportation and at restaurants(POS and online).
Eligibility
All registered business entities.
Limit (Subject to credit assessment)
i. USD 10,000/- per annum. Further enhancement is only subject to RMA approval
ii. INR 150,000/- per month
iii. BTN-Unlimited
Fees
Visa Corporate Credit Card | Amount (Nu.) |
|---|---|
Joining fee | Nu.1,999 |
Annual Fee | Nu.999 |
Renewal Fee | Nu.599 |
Replacement Fee | Nu.300 |
Interest on revolving credit facility per month | 2.5% per month on the total amount due. |
Repayment | 1. Minimum amount due (MAD) @ 25% of the total utilized amount within the month of billing statement, or 2. Total amount due (TAD) |
Over Limit charges | Nu.200 or 0.5% of over limit amount, whichever is higher |
Courier charges | Nu.1,000 |
Limits
VISA Corporate Credit Card | T Bank Terminals - POS(Nu.) | BFS Network Terminals - POS(Nu.) | Visa Network Terminals -POS(INR) | Visa Network Terminals - POS(USD) | Visa Network Terminals - POS (BTN) |
|---|---|---|---|---|---|
Daily Limit | Unlimited | Unlimited | 150,000 | Depends on Acquiring Bank | Unlimited |
Monthly Limit | Unlimited | Unlimited | 150,000 | - | Unlimited |
Yearly Limit | - | - | - | 10,000 | Unlimited |
No. of Transaction count per Day | Unlimited | Unlimited | Unlimited | - | Unlimited |
Charges
T Bank Terminals
ATM(Nu.)
Balance Enquiry : Free
PIN Change : Free
BFS Network Terminals
ATM(Nu.)
Balance Enquiry : Free
PIN Change : Free
Visa Network Terminals
ATM(INR)
Balance Enquiry : 20
PIN Change : —
Criteria for Issuance of Card
VISA Corporate Credit Card will be issued against any of the following:
i. Fixed Deposit (FD)
Applicant can pledge their fixed deposit(s) issued by T Bank Ltd to avail the VISA Corporate Credit Card facility. Branches shall keep a margin of 10% on the maturity value of the fixed deposit to compute the card limit.
ii. Current Account (BTN/FOREX) Lien
VISA Corporate Credit card facility can be availed by proposing lien on their current account maintained with T Bank for the limit requested. Current account lien is a process where certain amount is kept on hold from the customer’s current account and lifted when customer pays all the dues and wishes to discontinue using the card.
iii. Extension of Charges
A customer who has existing loans with T Bank can avail the VISA Corporate Credit Card facility by way of extending his securities/mortgages against the request. LTI (Loan to Income)and LTV(Loan to value) must be met.
iv. Fixed Asset (Land and Building)
A customer can avail VISA Corporate Credit Card facility by mortgage of fixed assets (land & building). LTI and LTV must be met.
Document Checklist
- Duly filled in application form
- Copy of license
- Copy of citizenship card (proprietor/shareholders)
- Tax assessment/filed report
- Authorization letter for lien noting (if the card is requested against account lien and fixed deposit)
- Copy of ownership certificate (if the card is requested against a fixed asset)
- Consent letter (if the card is requested against securities already mortgaged with the Bank) .
