I&M Bank Kenya - I&M Business Credit Mastercard

Mastercard Business Credit Card

Making your employee business expenses more manageable

I&M Business Credit Mastercard

With the I&M Bank Mastercard Business Credit Card, you will enjoy financial control with multiple business solutions in one card for business-related travel, entertainment, and other expenses while your employees experience unrivaled financial and lifestyle benefits like purchase of travel tickets, hotel stays, and entertainment.

Benefits to your Organisation:

  • Accountability

    Better way to manage business-related spending incurred by your employees and greater visibility on individual employee expenses.

  • Convenience

    Save time by eliminating the hassle of managing petty cash, advance requests and cash reconciliation.

  • Control

    Set limits on each transaction type (e.g travel spend) at any time as well as the overall credit card limit as desired.

Benefits

<b>Accountability</b> - The card provides expense management tools that allow Businesses to manage costs with simplified bookkeeping and petty cash management tools, allowing businesses more cashflow.

Accountability - The card provides expense management tools that allow Businesses to manage costs with simplified bookkeeping and petty cash management tools, allowing businesses more cashflow.

<b>Tailored Spending Limits</b> - Customize spending limits for employees based on their roles and responsibilities.

Tailored Spending Limits - Customize spending limits for employees based on their roles and responsibilities.

<b>Expense Tracking </b> - Receive monthly statements in addition to online expense management tools and transaction alerts.

Expense Tracking - Receive monthly statements in addition to online expense management tools and transaction alerts.

<b>Merchant Offers</b> - Make the most of international offers on MyUS Shipping.com, Mastercard hotel booking, Mastercard Priceless offers like Rentalcars.com, Budget, Intercontinental Hotel Group, Shopify, ZOHO, Adobe, Strong Box IT, Edureka, Meta and more.

Merchant Offers - Make the most of international offers on MyUS Shipping.com, Mastercard hotel booking, Mastercard Priceless offers like Rentalcars.com, Budget, Intercontinental Hotel Group, Shopify, ZOHO, Adobe, Strong Box IT, Edureka, Meta and more.

<b>Travel Benefits</b> - Benefit from comprehensive travel insurance, purchase protection and airport lounge access.

Travel Benefits - Benefit from comprehensive travel insurance, purchase protection and airport lounge access.

<b>Concierge Services</b> - Make the most of tailor-made concierge services for assisted travel bookings, restaurant reservations and other business-related activities.

Concierge Services - Make the most of tailor-made concierge services for assisted travel bookings, restaurant reservations and other business-related activities.

<b>Card Safety</b> - We offer you card safety controls on the I&m On The Go and Web - PIN management with a card lock/unlock facility.

Card Safety - We offer you card safety controls on the I&m On The Go and Web - PIN management with a card lock/unlock facility.

Visit Priceless for a full list of offers locally and internationally.

Visit I&M Gank Group to view the full list of benefits.

Credit Card Payment

  • A. OTG Mobile Banking App

  • B. Cheque Deposit: At any I&M Bank Branch countrywide

  • C. Cash Deposit:

  • D. At any I&M Bank Branch counter

I&M Business Credit Mastercard Charges

  • Joining Fee

    Kes 4,000

  • Principal Annual Fees

    Kes 5,000

  • Revolving Credit Interest -% per month on the actual daily outstanding balance

    3.5%

  • Cash Advance Fees

    7.5% of cash advanced

  • Overlimit Charge

    Kes 2,500

  • Late Payment penalty Rate -% of outstanding amount

    6%

  • Minimum Payment Rate

    5%

  • Card Replacement Fees

    Kes 1,000

  • Cash Advance % of credit Limit

    40%

  • Roll Over Amount

    95%

  • Credit Period

    Up to 50 days

  • Unpaid Instruments Handling Fees

    Kes 2,500

  • SMS Alert Fees

    NIL

  • Min Credit Limit Allowed

    Kes 50,000

  • Max Credit Limit Allowed

    Kes 3,000,000

  • Product Billing Cycle Date

    10th day of every month

  • Payment Due date

    19 days from statement date

Requirements

  • Board resolution authorizing the issue of the cards to the person mentioned herein and undertaking liability thereon for the specific employees.

  • Recent coloured passport-size photographs of card applicants

  • Copy of National ID/Passports of the card applicants

  • * Depending on the business's existing relationship with the Bank, more supporting Information/Documents may be requested

  • Certified copies of six months' bank statements of all company bank accounts

  • Certified copies of the company Audited Accounts for the last 2 years

  • Certified copies of Memorandum & Articles of Association of the company

  • Copy of Certificate of Incorporation

  • KRA PIN Certificate of the company

  • Company CR-12 form

  • Copies of returns filled with the Registrar Office - annual returns and a receipt from the Registrar of Companies

  • Board resolution authorizing the issue of the cards to the person mentioned herein and undertaking liability thereon for the specific employees

  • Recent coloured passport-size photographs of card applicants

  • Copy of National ID/Passports of the card applicants

Want to apply for Mastercard Business Credit Card?

Download the below form and submit it to the nearest branch with the required documentation

Are you interested in I&M Business Credit Mastercard?