International cross-border bank, Standard Chartered Nigeria, says that effective from July 5, 2024, interest rate on clients’ outstanding credit card balance will be reviewed upward.
The bank made this known via an email signed by Head, Personal Banking & Alliance, Nigeria and West Africa, to its customers on Monday [today].
The email reads:
Dear Client,
We write to inform you that effective 05/07/2024, the interest rate on your outstanding Credit Card balance will be reviewed upward in line with current market conditions as shown below:
The Standard Chartered Bank Credit Card is a revolving facility with an interest-free period of up to 45 days. Card holders who pay down 100% of the utilised amount (non-cash) within the billing cycle get to enjoy interest-free rate.
