BBK launches Equal Payment Plan for credit cards

TDT | Manama             

The Daily Tribune – www.newsofbahrain.com

BBK, Bahrain's pioneer in retail and commercial banking, is offering a new feature for credit card holders to pay off their purchases in installments, without accruing additional interest for selected tenors.

BBK credit card holders have the option to select the preferred repayment period through the CrediMax mobile application and pay the outstanding balance in installments, up to a tenor of 24 months.

"Credit card holders can benefit from the new Credit Card Equal Payment Plan feature, which aims to give more perks to the bank's customers," said Dr. Adel Salem, General Manager of Retail Banking at BBK.

This new feature offered by BBK comes with a variety of benefits, including cash withdrawals up to 50% of the credit limit, additional cards for immediate family members, a free warranty and buyers' protection, a minimum repayment requirement of 5% of the closing balance per month, up to 25 days of grace period after the statement date, competitive interest rates, and fraud protection using a One Time Password (OTP) authentication code.

The Credit Card Equal Payment Plan feature also offers Loyalty Rewards to its customers. For every amount spent using a credit card, the customer earns loyalty points, which can be redeemed from the CrediMax Mobile App, and Thameen loyalty rewards program.

Joining the Loyalty Bonus Points Program immediately grants 2,500 loyalty points. Also, an additional 5,000 bonus loyalty points are granted for loan or salary transfers to BBK, plus access to Visa offers. This is in addition to providing access to airport lounges in Bahrain and many other countries around the world when travelling through the “Lounge Key” mobile application.