1. What is the Maybank Credit Limit Formula?

The Maybank credit limit formula estimates your potential credit card limit based on your annual income and a Sri Lanka specific factor. This factor typically ranges between 0.2 to 0.5 depending on your creditworthiness and Maybank's policies.

2. How Does the Calculator Work?

The calculator uses the Maybank credit limit formula:

Where:

• \( Income \) — Your annual income in LKR
• \( Sri Lanka Factor \) — Multiplier typically between 0.2-0.5

Explanation: The formula calculates your potential credit limit by multiplying your annual income by a factor that Maybank uses to determine creditworthiness in Sri Lanka.

3. Importance of Credit Limit Calculation

Details: Understanding your potential credit limit helps in financial planning and ensures you don't apply for cards beyond your eligibility, which could negatively impact your credit score.

4. Using the Calculator

Tips: Enter your annual income in LKR and the Sri Lanka factor (default is 0.3). The calculator will estimate your potential credit limit with Maybank in Sri Lanka.

5. Frequently Asked Questions (FAQ)

Q1: What is the typical Sri Lanka factor?
A: For most applicants in Sri Lanka, the factor ranges between 0.2 to 0.5, with 0.3 being a common average.

Q2: Does Maybank always use this formula?
A: While this is the general formula, Maybank may adjust limits based on additional factors like credit history, existing debts, and employment stability.

Q3: How often can I request a limit increase?
A: Typically every 6-12 months, provided your income and creditworthiness have improved.

Q4: Are there maximum limit restrictions in Sri Lanka?
A: Yes, regulatory guidelines may impose maximum limits based on your income and other factors.

Q5: Does this calculator guarantee my actual limit?
A: No, this is only an estimation. Your actual approved limit may vary based on Maybank's complete evaluation.