Nedbank offers numerous credit cards designed to suit the requirements of their cardholders. Nedbank credit cards are categorized into lifestyle, reward, shopping, travel, and Foodies. Each card is designed for a particular group of cardholders based on their spending habits.
If the payments are made on time, interest will not be applicable. However, if partial payments are made, a certain interest rate is charged on the closing amount every month until the amount is paid in full.
What is the Nedbank Credit Card Interest Rate?
Generally, the interest rate charged by Nedbank can go up to 16.75% per month. However, the interest rate differs from card to card and it is best to read your credit card statements or get in touch with the Nedbank branch for more information.
How is Nedbank Credit Card Interest Rate Calculated?
Nedbank offers a grace period or interest-free period on credit card payments. Usually, the grace period or the interest-free period offered by Nedbank can range from 55 days depending on the type of credit card you hold.
[(Total number of days x transaction amount x 3.35% per month x 12 months) x number of days] ÷ 365 days
Here are some of the interests & Fee on the Nedbank credit card-
|Nedbank Credit Card Name
|New Nedbank Gold Credit Card
|Nedbank Platinum Credit Card
|From 20.40% to 22.25%
|The American Express Gold Credit Card
|The American Express Platinum Credit Card
|SAA Voyager Gold Credit Card
|SAA Voyager Premium Credit Card
Nedbank Credit Card Interest-Free Period
Nedbank Card offers an interest-free period of 55 days to its users. This period is calculated between the last statement generation date to the current due date. During this period, no interest is charged on any of the purchases. Please note that the two most important things related to Nedbank credit card interest-free period:
- The interest-free period is not applicable if you have carried forward your outstanding balance from the previous cycle to the current cycle.
- The interest-free period does not apply to cash withdrawals.
Frequently Asked Questions
The credit card interest rate is calculated by considering multiple things, such as transaction date, total amount due, transaction amount, amount due date, and much more.
If you lose your Nedbank credit card then call the Nedbank card customer care center to block it. The toll-free numbers are +27 800 110 929 (local), or +27102174330 (International).
Editorial Note: The information presented in this article is not provided by Nedbank. The article has been created for educational purposes and is intended to be helpful for customers of the Bank. It should be emphasized that the content is not endorsed or validated by the Bank, and readers should refer to the official website for accurate and up-to-date information about the bank’s products and services.
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