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Silk Bank
On March 31, 2008, a Consortium comprising of IFC, Bank Muscat, Nomura International and Sinthos Capital led by senior bankers Mr. Shaukat Tarin and Mr. Sadeq Sayeed acquired 86.55% stake in Silkbank for around $213 million. Under the new leadership, the Bank shifted to focus on Retail, SME, and Consumer financing. Silk bank also offer

silk bank credit card

and personal loans.
  • Monthly APR
    Monthly BTF Rate
    Annual Fee
  • Discounts
    Silk Bank Credit Card - Platinum

    Silk Bank Credit Card - Platinum

    3.50 %
    2.75 %
    PKR 8,000

    Benefits

    • Direct cash back on all sorts of spend
    • Complimentary Priority pass
    • 12 month 0% BTF offer

    Be Aware of

    • There is a very high upfront fee applicable on the 0% balance transfer offer
    • Priority pass is a charged service

    Rates

    Monthly APR
    3.50 %

    42% per annum

    Cash Advance
    3.50 %

    42% per annum

    Monthly BTF Rate
    2.75 %

    33% per annum for an open tenor balance transfer


    Annual Fees

    Annual Fee
    PKR 8,000
    Supplementary Card Fees
    PKR 2,000
    Chip Maintenance Fee
    PKR 2,000

    Other Fees

    Cash Advance Fee
    PKR 1,000

    or 3% of withdrawn amount (whichever is higher)

    Foreign transaction Fee
    3.50 %

    of transaction amount

    Late Payment Fee
    PKR 2,000
    Overlimit Fee
    PKR 2,000

    Interest Free Period

    Not indicated

    SMS Alert Fee

    PKR 100 per month

    BTF Fees

    Processing Fee
    20 %

    of Balance transfer amount (this rate is applicable for 0% APR offer for a 12 month period)


    Local Spend

    Cash Back
    0.25 %

    on spend

    Reward Point
    -
    Airmiles
    -

    International Spend

    Int. Cash Back
    0.50 %

    on spend

    Int. Reward Point
    -
    Int. Airmiles
    -

    Grocery Spend

    Cash Back
    0.25 %

    on spend

    Reward Point
    -
    Airmiles
    -

    Fuel Spend

    Cash Back
    0.25 %

    on spend

    Reward Point
    -
    Airmiles
    -

    Minimum Monthly Income

    Salaried
    PKR 30,000

    Applicable for permanent employees. You must have been employed at the company for atleast 9 months

     

    Contractual employees have varying minimum income requirements:

    • 1st Party Contractual: PKR 45,000 - 65,000 salary, minimum 24 months employment tenor.
    • 3rd Part Contractual: PKR 75,000 salary, minimum 24 months employment tenor
    Self Employed
    Not offered

    Self employed are only eligible for balance transfers


    Minimum Age

    Salaried
    21 Years
    Self Employed
    21 Years

    Salaried Individual

    Bank Statement

    6 Months of salary account

    CNIC
    Required

    verified copy

    Salary Slip
    Required

    verified copy 

     


    Self Employed Professional

    Bank Statement
    Required

    12 months of business account

    CNIC
    Required

    verified copy

    Proof of Business
    Required
    • Bank certificate stating the legnth of the relationship
    • Application on Soleproprietorship letter head

     


    Sole Proprietor

    Bank Statement
    Required

    12 months of business account

    CNIC
    Required

    verified copy

    Proof Of Business
    Required
    • Bank certificate stating the legnth of the relationship
    • Application on Soleproprietorship letter head

     


    Partnership

    Bank Statement
    Required

    12 months of business account

    CNIC
    Required

    verified copy

    Proof Of Business
    Required
    • Registered Partnership Deed
    • Bank certificate stating the length of the relationship

    Private Limited

    Bank Statement
    Required

    12 months of business account

    CNIC
    Required

    verified copy

    Proof Of Business
    Required
    • Articles and Memorandum of Association 
    • Form 29
    • Form A 

     


    Global Travel Assistance

    Benefits
    USD 7.50

    per request - Visa card holder assistance

    Assistance
    USD 35

    per request - Lost & stolen card

    USD 250 per request - Emergency card replacement

    Other
    USD 175

    per request - Emergency cash disbursement


    Travel Insurance

    Subsidized Travel Insurance
    Not offered
    Complimentary Travel Insurance
    Not offered
    Other Insurance Benefits

    A variety of subsidized health and life coverage offers


    Lounge Access

    Domestic Lounge Access
    Not indicated
    International Lounge Access
    Not indicated
    Other Travel Benefits
    Not indicated

    Priority Pass

    Joining Fee
    Complimentary
    Usage Fee
    USD 35 per visit

    for the cardholder & each accompanying guest

    Other Fee
    PKR 2,000

    Renewal fee


    Salient Benefits

    1
    Direct cash back on all transactions
    2
    Joining fee for Priority pass is waived
    3
    Not indicated

    Discounts

    Vendors
    90+

  • Discounts
    Silk Bank Credit Card - Gold

    Silk Bank Credit Card - Gold

    3.50 %
    None
    PKR 4,000

    Benefits

    • Cashback offered on both domestic and international spend
    • Design your own card option
    • 0% APR for first 12 months on Balance Transfers

    Be Aware of

    • There is a significantly high upfront processing fee for the Balance Transfers - 20% of the transfer amount

    Rates

    Monthly APR
    3.50 %

    42% per annum

    Cash Advance
    3.50 %

    42% per annum

    Monthly BTF Rate
    None

    for a period of 12 months; 33% per annum for an open tenor balance transfer


    Annual Fees

    Annual Fee
    PKR 4,000
    Supplementary Card Fees
    PKR 500
    Chip Maintenance Fee
    PKR 1,000

    Other Fees

    Cash Advance Fee
    PKR 1,000

    or 3% of withdrawal amount (whichever is higher)

    Foreign transaction Fee
    3.50 %

    of the transaction amount

    Late Payment Fee
    PKR 2,000
    Overlimit Fee
    PKR 2,000

    Interest Free Period

    Not indicated

    SMS Alert Fee

    PKR 100 per month

    BTF Fees

    Processing Fee
    20 %

    of balance transfer amount up front (this is applicable only on the 0% APR offer)


    Local Spend

    Cash Back
    0.25 %

    on spend

    Reward Point
    -
    Airmiles
    -

    International Spend

    Int. Cash Back
    0.25 %

    on spend

    Int. Reward Point
    -
    Int. Airmiles
    -

    Grocery Spend

    Cash Back
    0.25 %

    on spend

    Reward Point
    -
    Airmiles
    -

    Fuel Spend

    Cash Back
    -
    Reward Point
    -
    Airmiles
    -

    Minimum Monthly Income

    Salaried
    PKR 30,000

    applicable for permanent employees. You must have been employed at the company for atleast 9 months

     

    Contractual employees have varying minimum income requirements:

    • 1st Party Contractual: PKR 45,000 - 65,000 salary, minimum 24 months employment tenor.
    • 3rd Part Contractual: PKR 75,000 salary, minimum 24 months employment tenor

     

    Self Employed
    Not offered

    Self employed are only eligible for balance transfers


    Minimum Age

    Salaried
    21 Years
    Self Employed
    21 Years

    Salaried Individual

    Bank Statement

    6 Months of salary account

    CNIC
    Required

    verified copy

    Salary Slip
    Required

    verified copy 

     


    Self Employed Professional

    Bank Statement
    Required

    12 months of business account

    CNIC
    Required

    verified copy

    Proof of Business
    Required
    • Bank certificate stating the legnth of the relationship
    • Application on Soleproprietorship letter head

    Sole Proprietor

    Bank Statement
    Required

    12 months of business account

    CNIC
    Required

    verified copy

    Proof Of Business
    Required
    • Bank certificate stating the legnth of the relationship
    • Application on Soleproprietorship letter head

     


    Partnership

    Bank Statement
    Required

    12 months of business account

    CNIC
    Required

    verified copy

    Proof Of Business
    Required
    • Registered Partnership Deed
    • Bank certificate stating the length of the relationship

     


    Private Limited

    Bank Statement
    Required

    12 months of business account

    CNIC
    Required

    verified copy

    Proof Of Business
    Required
    • Articles and Memorandum of Association 
    • Form 29
    • Form A 

    Global Travel Assistance

    Benefits
    USD 7.50

    Visa card holder assistance

    Assistance
    USD 35

    per request - Lost & Stolen card

    USD 250 per request - Emergency card replacement

    Other
    USD 175

    per request - Emergency cash disbursement


    Travel Insurance

    Subsidized Travel Insurance
    Not offered
    Complimentary Travel Insurance
    Not offered
    Other Insurance Benefits
    A variety of subsidized health & life coverage offers

    Lounge Access

    Domestic Lounge Access
    Not offered
    International Lounge Access
    Not offered
    Other Travel Benefits
    Not offered

    Priority Pass

    Joining Fee
    PKR 0
    Usage Fee
    PKR 0
    Other Fee
    PKR 0

    Salient Benefits

    1
    Design your own card
    2
    Longest tenure of 0% APR for Balance transfers
    3
    Not indicated

    Discounts

    Vendors
    50+


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