ICPAK Smart Card - Credit Facility
One of the value additions for the ICPAK Smart Card is for National Bank to offer credit facility to
members.
A. Requirements
National Bank will only require proof of income to mark the credit limits.
Members will be requested to provide either:
a) Copies of the latest 3 payslips (salaried individuals) or
b) Certified 12 months statements (self-employed)
Other requirements will include:
c) Certificate of Good Standing (can be downloaded from the ICPAK web portal by the member)
d) Duly filled Member Detail Form
e) Copy of National ID
f) Referee details
g) No negative CRB listing
B. Limit Allocation
Card limits will be allocated based on the below calculation:
1. Employed
Card Limit = Gross Pay (3 month average) x 60%
2. Self-employed
Card Limit = Gross Annual Turnover x 5%
C. Payment Options
A statement will be generated for the card account on a monthly basis and sent to the member’s email
address. The statement will indicate transactions done through the card in the past one month, amount
due and due date. The credit facility comes with flexible monthly repayment options with the minimum
being 10%.
Additional options include 20%, 50%, 75% and 100%.
An option of 100% implies that the member will be expected to pay the entire amount billed in any
particular month. This option will not attract any interest.
Payments to the card can be made through several channels:
a) Paybill Business no. 625625
Mpesa/ Airtelmoney
 Select the Paybill option
 Indicate the Business Number as 625625
 Indicate the Account as the full card number i.e. 16 digits, no spaces or any other characters
 Enter amount and complete the transaction
b) Cash or Cheque Deposit at any National Bank Branch or Agent
ICPAK Smart Card-Credit Facility
MAY2017
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c) Autopay (Only If You Have A National Bank Account)
The customer has the option to have payments deducted automatically from his or her National
Bank Account every month on the due date. The customer will choose the percentage
(minimum 10%) of the outstanding balance that will be deducted.
D. Tariff
The credit facility will have an interest rate of 1.17% per month. This will only be applied to balances
carried forward to the subsequent month.
Please find the comprehensive tariff below:
ICPAK SMART CARD
Joining fees
FREE
Annual Fee
FREE
Annual Fees - Supplementary card
N/A
Cash Advance Fee
5% min. 100
Interest
1.17% per month
Card Replacement fee
500
Currency Conversion fee
3.00%
Over limit Fee
5% min. 100
Late Payment Fee
10% min. 100
Unpaid Item
1000
Request for printed copy of previous months statement
100 per page
Credit Shield Insurance (%age of the outstanding amt.)
0.08% per month
E. Process
1. ICPAK members will provide proof of income documentation through National Bank Branches.
2. ICPAK Member Services will confirm the member’s status through issuance of a certificate of
good standing.
3. The requisite documentation will be processed through EDMS and members informed of the
outcome within 5 working days.
4. National Bank will send notifications to ICPAK members on the limits marked.
For more details or further clarification please contact Card Services ([email protected])
or Larry Mazoeah (x8530)
ICPAK Smart Card-Credit Facility
MAY2017
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