Adjustment to the Calculation of Minimum Payment for Credit Cards

Effective August 20, 2025, the calculation of the minimum payment on all credit cards will be adjusted, resulting in a lower minimum payment to be paid by you.

Currently, the credit card minimum payment is calculated as follows:
Republic Bank Visa Credit Cards:
• 4.17% of Principal* + 100% of Interest** + 100% of Fees + 100% Amount Past Due (if applicable)

Republic Bank Mastercard Credit Cards:
• 2.77% of Principal* + 100% of Interest** + 100% of Fees + 100% Amount Past Due (if applicable)

This means in instances where you have Interest** and Fees to be paid on your statement, the current minimum payment calculation includes all the Interest** and Fees for that statement cycle, in addition to a percentage (Visa: 4.17% or Mastercard: 2.77%) of your Principal* plus all amounts that are past due.

The new calculation, which will take effect on August 20, 2025, is as follows:
• 2.77% of Principal* + 2.77% of Interest** + 2.77% of Fees + 100% Amount Past Due (if applicable)

This means in instances where you have Principal*, Interest** and Fees to be paid on your statement, the new minimum payment calculation will only include 2.77% of the Principal*, Interest** and Fees for that statement cycle plus all amounts that are past due, resulting in a lower minimum payment to be paid.

*Principal comprises of your Previous Balance (less previous Fees and previous Interest) + Purchases + Cash Advances + Misc. Debits – Payments – Returns – Misc. Credits
**Interest is quoted as “Finance Charge” on your credit card statement

Should you have any additional questions, feel free to contact our Customer Care and Support Centre at 440-4725.