Eastern Bank Ltd. introduced a whole new concept with its debit card facility. Called DebitLine -- an extension to current debit card, it is first of its kind in Bangladesh.
DebitLine is a credit facility in Debit Card. It is a revolving, fully unsecured overdraft facility that customers can avail themselves through their EBL Debit Cards at ATMs and shops. It offers a credit limit of up to Tk 100,000. Interest rate is only 20% per annum, as opposed to 30% rate of interest in the case of regular credit card.
Major features of DebitLine:
* Revolving, fully unsecured overdraft attached to your debit card
* Limit offered up to BDT 100,000
* No security, no guarantee required
* Process and documentation requirements are very simple
* Rate of interest is only 20% p.a. as opposed to 30% on regular credit card
* No monthly installment; only pay 5% of your month-end outstanding balance
* 100% cash withdrawal limit at ATMs
* Take cash from more than 80 ATMs all over Bangladesh
* Shop at all outlets showing Visa logo (with electronic machines)
* Best way to offset your credit card bills elsewhere
* Renewable every year
For further information, you can call EBL Cards Division at: 7168735, 9556360 Ext: 213; Sales Office, Dhaka: 8362220 or contact any of EBL's 22 Sales and Service Centers.