GE MONEY BANK’s scrupulous clients who will approach the bank with a request to issue new credit cards will be able to enjoy an effective rate equal to the current interest rate. No commissions will be charged either. If clients repay debts regularly during the year, the bank will not charge them an annual commission for keeping an account (R600), nor will it charge a monthly commission for servicing a credit at 1.8% of the remaining debt beginning July 2008. The credit rate will remain unchanged at 28% annually. GE MONEY BANK, formerly known as DELTABANK, is owned by GE CONSUMER FINANCE. The bank specializes in consumer lending. According to INTERFAX CEA, in the first quarter of 2007, assets stood at R6.8 billion (173rd place) and the capital was R1.5b (127th).
Source: VEDOMOSTI, June 15, 2007
