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Schedule Of Charges

Proposed Schedule of Charges MCB VISA Credit Card
Effective from 1st July, 2015

  Platinum Gold Classic
Joining Fee Free Free Free
Annual Fee Free Free Free
Chip Maintenance Fee PKR 3,000 p.a. PKR 1,500 p.a. PKR 1,000 p.a.
Supplementary Annual  Fee Free Free Free
Supplementary Chip  Maintenance Fee Free Free Free

Priority Pass Issuance/Annual Fee:
Free

Priority Pass  Per Visit Fee:
USD 35 or equivalent Pak Rupee

Priority Pass Replacement Fee:
Upto Rs.500/-
(Only for Gold and Platinum customers)

Service Fee/Markup on Cash Transactions
3.25% per month translated into an APR (Annual Percentage Rate) of up to 39% calculated on daily unpaid balance from date of transaction

Service Fee/Markup Retail (Fixed APR)
3.25% for service fee / mark- up per month translated into an APR of up to 39%

Service Fee/Markup Retail (Variable APR /i-revolve)
From 41% to 36% APR based on continuous revolving of per retail transaction for six months or above

This is charged on retail transaction basis from an APR of 41% in the first revolving month and based on revolving of the transaction the rate continues to decline each month for six months to a minimum of 36% i.e., for the sixth revolving month and continues at this rate till the transaction is fully paid.

Month APR (upto) Per Month
1 41%  3.42%
2

40%

3.33%
3 39% 3.25%
4

38%

3.17%
5 37% 3.08%
and beyond till the transaction is not fully settled 36% 3.00%

Late Payment Fee
PKR 1,000 or 10% of minimum payment whichever is higher 

Cash Advance Fee
PKR 750 (per transaction) or up to 3% of the cash advance transaction amount (whichever is higher) plus all charges passed on by the acquiring bank  

Voucher Retrieval Fee
Upto PKR 250 (local)
Upto PKR 800 (international) 

i-insure
Package 1: (PKR 600 per month)
Package 2: (PKR 300 per month)
Package 3: (PKR 200 per month)
Wallet Protection: (PKR 75 per month)

i-insure Plus (PKR 355 per month) 

Credit Security
Up to 0.60% of total monthly outstanding balance

i-educate
APR: 1.83% Service fee markup translated into an APR of 22%p.a.
Processing Fee: 250 (per request) or up to 2% of the amount request (whichever is higher)
Prepayment Charges : PKR 1,000 or 5% of outstanding installment balance (which ever is higher)

i-plan/i-plan marketing:
APR: 3% Service fee markup translated into an APR of 36%p.a.
Processing Fee : PKR 250 or 2% per transaction (whichever is higher) 
Prepayment Charges : PKR 1,000 or 5% of outstanding installment balance (which ever is higher)

i-dial
APR: 3% Service fee markup translated into an APR of 36%p.a.
Processing Fee: PKR 250 (per request) or up to 2% of amount requested (whichever is higher) 
Prepayment Charges: PKR 1000 or 5% of outstanding installment balance (whichever is higher)

i-switch
APR: 1.83% Service fee markup translated into an APR of 22%p.a.
Processing Fee: 250 (per request) or up to 2% of the amount request (whichever is higher)
Prepayment Charges: PKR 1000 or 5% of outstanding installment balance (whichever is higher)

i-cash on call
APR: 3% of service fee / mark-up per month translated into an APR of up to 36% on daily basis from the booking date. 
Processing Fee: PKR 250 (per request) or up to 2% of the amount (whichever is higher).

Arbitration Charges for Disputed Transactions
USD 500/- or equivalent

Card Replacement Fee
Upto PKR 500/-

Cheque Return Charges / Insufficient funds on Auto Debit
Upto PKR 750/- 

Foreign Transactions
Upto 3.5% on foreign transactions after conversion into USD and then billed into PKR to the customer inclusive of visa charges and settlement/currency conversion loss against foreign transactions. 

Utility, Telco & Club Bills Payment
PKR 25 per Request 

SMS Alert Fee
Free

* All charges are exclusive of government taxes and are subject to change and will be notified to the customer accordingly.


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