KUALA LUMPUR: Two of the country's largest banks have launched credit cards that are aimed at offering more affordable credit facilities to ease the cost of living.
In a statement, Maybank Islamic announced that the Maybank Islamic Nadi Mastercard Credit Card-i is now available for applications, providing eligible customers with a simple Shariah-compliant credit solution for their everyday financial needs.
First announced in July 2026, the Nadi Mastercard Credit Card-i was designed to be easy to understand and manage.
Key features include a fixed profit rate of 14% per annum, no annual fee and no compounding of profit charges.
It added that the card has access to over 1,000 merchant privileges across the region.
“With the Maybank Islamic Nadi Mastercard Credit Card-i, our focus is on giving customers a credit card they can use with greater confidence. By keeping the value propositions straightforward and easy to understand,
"We want to encourage more informed financial decisions while supporting their everyday credit needs,” said Mohamad Yasin Abdullah, group CEO of Islamic Banking and CEO, Maybank Islamic.
Separately, CIMB Islamic Bank Bhd launched CIMB Lite-i Credit Card, a no-frills, credit card designed for Malaysians seeking a practical credit facility with lower financing costs and flexible repayment solutions.
The bank said the facility featured a fixed and non-compounding profit rate of 14% per annum across all customer tiers, which was lower compared to prevailing industry rates.
"The card is tailored for customers who prioritise affordability and access to responsible credit over rewards and lifestyle privileges, making it an ideal solution for managing everyday expenses and short-term cash flow needs," it said in a statement.
Cardholders who make a minimum retail spend of RM500 in a single transaction are eligible for a 0% Flexi Payment Plan-i (FPP-i) for six months.
The promotion, valid until Oct 31, 2027, provides customers with greater payment flexibility by allowing eligible retail purchases to be converted into monthly instalments at no additional financing cost.
“The CIMB Lite-i Credit Card reflects our commitment to advancing customers and society by making responsible credit more affordable for Malaysians. We believe financial solutions should be relevant to customers’ needs and help them build greater financial resilience over time," said Novan Amirudin, group CEO of CIMB.
