- Mari Savings Account
- Mari Invest
- Mari Credit Card
- Mari Business Account
- Mari Business Loan
Mari Credit Card: Interest, Fees and Charges
| A. Mari Credit Card Fees & Charges | |
|---|---|
| Annual Card Fee | Free |
| Late Fee | Free Late interest remains applicable at prevailing rates. |
| Overlimit Fee | Free |
| Interest-free period | Up to 51 calendar days from statement date (inclusive), if there is no balance carried forward from previous statement. |
| Minimum Payment Due | The Minimum Payment Due comprises:
(a) 3% of card spend; (b) 100% of posted Instant Loan instalments; and (c) any overlimit and overdue amounts. |
| Interest on outstanding balances (Nominal Interest) |
Prevailing interest of 27.99%1 per annum, if the Statement Due is not paid in full by Due Date. |
| Late Interest on outstanding balances (Late Interest) |
Prevailing interest of 30.99%2 per annum, if the Minimum Payment Due is not paid in full by Due Date. |
| B. Charges specific to card spend | |
|---|---|
| Foreign Currency Transactions | All foreign currency transactions (including overseas and online transactions) charged to the Card will be subject to: (i) a prevailing charge of 1% of the converted Singapore Dollar amount representing the charge imposed by MasterCard on the transaction; and (ii) a prevailing fee of 2.77% of the converted Singapore Dollar amount.
NOTE: With effect from 23 Aug 2024, all foreign currency transactions (including overseas and online transactions) charged to the Card will be subject to: (i) a prevailing charge of 1% of the converted Singapore Dollar amount representing the charge imposed by MasterCard on the transaction; and (ii) a prevailing fee of 2% of the converted Singapore Dollars amount. |
| Currency Conversion Fee | All card transactions effected in Singapore Dollars and processed overseas (including online transactions) will be subject to a prevailing charge of 1% of the transaction amount representing the charge imposed by MasterCard on the transaction. These transactions include but are not limited to (i) any Visa or MasterCard retail transaction presented in foreign currency that you choose to pay in Singapore Dollars via dynamic currency conversion, and (ii) any online retail card transaction charged to your Card on overseas websites in Singapore Dollars. |
| C. Charges specific to Instant Loan | |
|---|---|
| Instant Loan instalment interest rate | Interest on each loan shall be calculated based on a flat rate (simple interest) by multiplying the principal loan amount by the specified interest rate offered to you for the full tenor of the loan.
The interest rate offered to you will be displayed during your loan request and is subject to the bank’s discretion based on various factors, including but not limited to, your personal credit and income profile. This rate may differ from the published rate and the rate offered to other customers. |
| Any prevailing interest on outstanding balances | Instant Loan instalments once charged become outstanding balances on your Mari Credit Card. Any prevailing interest (such as Nominal Interest and Late Interest) applicable to Mari Credit Card outstanding balances will apply. |
| Processing Fee | Upfront fee charged upon approval and disbursement of each loan.
The fee offered to you will be displayed during your loan request and is subject to the bank’s discretion based on various factors, including but not limited to, your personal credit and income profile. This rate may differ from the published rate and the rate offered to other customers. |
1 No interest will be charged if outstanding due amounts are received in full by the Due Date. Subject to the payment of Late Interest as described in Footnote 2 below, interest of 27.99% per annum, calculated on a daily basis, will be charged on any outstanding amount (including bank charges and newly-posted amounts) if the Statement Due is not paid in full by Due Date. Interest accrual will stop upon receipt of full repayment of all outstanding amounts. Accrued interest will apply once calculated, including any reversal or cancellation of outstanding amounts.
2 Late Interest of 30.99% per annum, calculated on a daily basis, will be charged on any outstanding amount (including bank charges and newly-posted amounts) if the Minimum Payment Due is not paid in full by Due Date. Late Interest accrual will stop upon receipt of full repayment of the Minimum Payment Due. Accrued Late Interest will apply once calculated, including any reversal or cancellation of outstanding amounts.
Liability for Lost / Stolen Card
If your Card is lost or stolen or if the Security Code is disclosed without authorisation, your liability for unauthorised transactions effected after such loss, theft or unauthorised disclosure but before we are notified thereof shall be limited to S$100 only if:
(a) you have as soon as reasonably practicable notified us of the loss, theft or unauthorised disclosure;
(b) you assist us in the investigation and recovery of the unauthorised charges incurred;
(c) you furnish us with a police report accompanied by written confirmation of the loss, theft or unauthorised disclosure and any other information that we may require; and
(d) we are satisfied that such loss, theft or unauthorised disclosure is not due to your gross negligence or default and that you have not acted fraudulently.
You shall not be liable for any transactions effected after we have been notified of the loss, theft or disclosure.
Interest, Fees and Charges are effective as at 9 September 2024.
