The cards styled 'EBL SIMPLE Credit Cards' will be available from today in four versions -- 'Local Currency', 'Gold and Classic', 'Dual Currency' and 'Gold and Classic'.

The credit cards will offer balance transfer option and enable the customers to reduce their debt burden, said Ali Reza Iftekhar, managing director of EBL, at a press conference in Dhaka.

A cardholder will be able to transfer his or her credit card's outstanding balance from other banks to EBL SIMPLE Credit Card at 22 percent annual interest rate compared to a market average of 30 percent interest rate per annum, he added.

The credit cards offer double benefit insurance coverage for all cardholders under which in case of permanent total disability or death of any cardholder, the bank will waive the entire outstanding of the card and will also pay the same amount to the cardholder's nominee.

Besides, if the cardholders transact at least 18 times annually, they will get complete waiver on their renewal fees, said Mohammed Musa, acting head of Consumer Banking of EBL.

The other features of the credit cards include worldwide acceptance and cash advance facility, supplementary card, discounts, shopper's guide, convenient payment options, auto debit facility, mobile alert, global emergency assistance service and statement by email.

Customers can apply for the credit cards in all 25 EBL branches from today, officials said.

MH Chowdhury, head of Strategy, Taufiq Hassan, head of Cards of EBL, among others, were also present at the press conference.