Bank of Baroda (BoB) Prime Credit Card

The Bank of Baroda Prime credit card stands out as a sought-after secured credit option provided by BoB Financial, a financial services company affiliated with Bank of Baroda. It operates as a card secured against a fixed deposit, requiring a minimum FD amount of Rs 15,000. Notably, obtaining this card doesn’t necessitate income proof.

Distinguishing itself as a lifetime free credit card, the BoB Prime credit card exempts users from annual charges while providing a range of benefits. For every Rs 100 spent, cardholders earn 4 Rewards, which equate to a 1% cashback across all spending categories. These accumulated points offer versatile redemption options, including exclusive choices such as shopping and gift vouchers.

Key Highlights of Bank of Baroda (BoB) Prime Credit Card

  1. A Fixed Deposit of only Rs. 15,000 is necessary.
  2. Earn cashback on every purchase.
  3. Guaranteed card issuance is provided.
  4. No joining or annual fees are applicable.
  5. Enjoy a fuel surcharge waiver.
  6. Receive up to 3 free add-on cards.
  7. Benefit from up to 50 days of interest-free period.
  8. Experience zero liability in case of lost cards.

Features and Benefits of BoB Prime Credit Card

The Bank of Baroda (BoB) Prime Credit Card offers several features and benefits:

1. Card Issuance:

  • Guaranteed issuance against a fixed deposit of Rs.15,000 and above without the need for income proof.

2. Rewards Program:

  • Earn 4 rewards points or Re.1 on redemption for every Rs.100 spent.
  • Fuel surcharge waiver of 1% for purchases between Rs.400 and Rs.5,000, with a maximum discount of up to Rs.250.

3. Fees and Charges:

  • No joining or annual fee for the first year.
  • No liability fee for reporting the loss of the card immediately.

4. Redemption Options:

  • Multiple options available to redeem reward points as cashback.

5. Flexible Payments:

  • Option to pay back transactions of Rs.2,500 and above through EMIs with a repayment tenure ranging from 6 months to 1 year.
  • Enjoy 50 days of interest-free credit from the date of card issuance.

6. Additional Cards and Insurance:

  • Up to 3 lifetime add-on credit cards for parents, spouse, and children above 18 years.
  • Inbuilt insurance cover on purchasing the Bank of Baroda Prime Credit Card, including free Personal Accidental Death Insurance Cover.

7. Convenient Spending:

  • Plan your spends at your convenience by paying the minimum amount due.

BoB Prime Credit Card Fees and Charges

Explore the fee structure for the BoB Prime Credit Card and discover the financial advantages that come with it.

  1. First Year Fee: Nil
  2. Annual Fee: Nil
  3. Cash Withdrawal Charges: 2.50% of the withdrawn amount or Rs. 500, whichever is higher
  4. Finance Charge: 3.25% per month | 39% per annum
  5. Cheque Return Charges: Minimum Rs. 450 or 2% of the cheque amount
  6. Foreign Currency Transaction Fee: 3.50% of the transaction amount
  7. Late Payment Charges:
  • Amount less than Rs. 100 – Nil
  • Amount between Rs. 100 and Rs. 500 – Rs. 100
  • Amount between Rs. 501 and Rs. 1,000 – Rs. 400
  • Amount between Rs. 1001 and Rs. 10,000 – Rs. 750
  • Amount between Rs. 10,001 and Rs. 25,000 – Rs. 950
  • Amount between Rs. 25,001 and Rs. 50,000 – Rs. 1100
  • Amount Greater than Rs. 50,000 – Rs. 1300

Eligibility Criteria for BoB Prime Credit Card

Here are essential criteria for applying for an BoB Prime Credit Card:

1. Age requirement:

  • Minimum age: 18 years
  • Maximum age: 65 years

2. Occupation: Both salaried and non-salaried individuals are eligible to apply for the Prime Credit Card provided by Bank of Baroda.

Documents Required for Bank of Baroda (BoB) Prime Credit Card

To apply for the Bank of Baroda (BoB) Prime Credit Card, you will typically need to provide the following documents:

1. Identity Proof:

  • PAN Card
  • Voter’s Card
  • Driving License
  • Aadhar Card
  • Passport

2. Address Proof:

  • Utility bills of the latest three months
  • Passport
  • Aadhar Card
  • Rent agreement
  • Other valid government-approved address proof

3. Proof of Income:

  • Latest months’ bank statements or salary slips (for salaried individuals)
  • Latest audited ITR (for self-employed individuals)

How To Apply for BoB Prime Credit Card?

Follow these steps to apply for the BoB Prime Credit Card:

  1. Go to the official website of Bank of Baroda Financial.
  2. Navigate to the main page and locate the Bank of Baroda Prime Credit Card section.
  3. Click on ‘Know More’ under the Bank of Baroda Prime Credit Card information.
  4. You will be redirected to a new page; scroll down and select ‘Apply Now.’
  5. On the application page, accurately fill in all the required details.
  6. Ensure that the information provided in the application form is accurate.
  7. Click on the checkbox indicating your agreement with the terms and conditions.
  8. Proceed by clicking on the ‘Submit’ button.
  9. Expect a bank representative to contact you to assist with the Bank of Baroda Prime Credit Card application process.

Frequently Asked Questions (FAQs) –

1. What is the Bank of Baroda Prime Credit Card?

The Bank of Baroda Prime Credit Card is a financial product offered by Bank of Baroda, providing users with various benefits and features for their credit card transactions.

2. How can I apply for the BoB Prime Credit Card?

To apply for the BoB Prime Credit Card, visit the official website of Bank of Baroda Financial, find the Prime Credit Card section, click on ‘Know More,’ and then select ‘Apply Now.’ Fill in the application form with accurate details, agree to the terms and conditions, and click ‘Submit.’

3. What are the key features of the BoB Prime Credit Card?

The BoB Prime Credit Card typically comes with features such as rewards programs, cashback benefits, travel perks, and other exclusive privileges. Check the official website or contact the bank for specific details on the current features.

4. What eligibility criteria are required to apply for the BoB Prime Credit Card?

Eligibility criteria may vary, but generally, factors like age, income, and creditworthiness play a role. Refer to the official website or contact Bank of Baroda for specific eligibility requirements.

5. How long does it take for the BoB Prime credit card application to be processed?

The processing time for BoB Prime Credit Card applications can vary. Once you submit your application, a bank representative will get in touch with you to guide you through the process.

6. What is the credit limit on the BoB Prime Credit Card?

The credit limit is determined based on various factors, including your income, credit history, and the bank’s policies. Upon approval, the bank will notify you of your assigned credit limit.

7. How can I check the status of my BoB Prime Credit Card application?

To check the status of your credit card application, you can contact the Bank of Baroda customer service or use the online tracking facility provided on the official website.

8. Are there any annual fees associated with the BoB Prime Credit Card?

Details regarding annual fees, if any, can be found on the official website or by contacting the bank directly. Some credit cards may have annual fees, while others may offer waivers based on spending patterns or other criteria.

9. What should I do if my BoB Prime Credit Card is lost or stolen?

In case of a lost or stolen credit card, immediately contact BoB credit card customer care service to report the incident. The bank will guide you through the necessary steps to secure your card and issue a replacement if required.

10. Can I track my BoB Prime Credit Card transactions online?

Yes, Bank of Baroda typically provides online banking facilities that allow cardholders to track their transactions, check balances, and manage their credit card accounts through the official website or mobile banking app.