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Maybank Credit Limit Formula:
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The Maybank credit card limit formula estimates the maximum credit limit based on your monthly income, expenses, debt-to-income ratio, and the card's interest rate. This helps determine your borrowing capacity while maintaining financial stability.
The calculator uses the Maybank credit limit formula:
Where:
Explanation: The formula calculates how much credit you can service based on your disposable income after expenses, factoring in conservative debt ratios.
Details: Understanding your potential credit limit helps with financial planning, ensures you don't overextend yourself, and helps negotiate better terms with the bank.
Tips: Enter accurate income and expense figures. The debt-to-income factor is typically 0.35 for Maybank Sri Lanka. APR is usually between 18-28% for most cards.
Q1: Why is the debt-to-income factor important?
A: This conservative factor ensures you don't take on more debt than you can handle, typically set by banks at 30-40% of disposable income.
Q2: What if my actual credit limit is different?
A: Banks consider additional factors like credit score, employment stability, and existing debts. This calculator provides an estimate.
Q3: How often should I recalculate my credit limit?
A: Recalculate whenever your income, expenses, or interest rates change significantly.
Q4: Does this work for all Maybank credit cards?
A: Yes, though premium cards may have higher limits based on additional eligibility criteria.
Q5: How can I increase my credit limit?
A: Improve your income-to-expense ratio, maintain good credit history, and request limit increases after demonstrating repayment ability.