Bank of India (BOI) Master India Domestic Credit Card

The BOI Master India Domestic Credit Card, a product of Bank of India (BOI), is tailored to meet the financial needs of individuals within the country. In this detailed review, we’ll explore the key features, benefits, and potential considerations associated with the BOI Master India Domestic Credit Card, focusing on its suitability for domestic transactions.

Features and Benefits of Bank of India (BOI) Master India Domestic Credit Card

The Bank of India (BOI) Master India Domestic Credit Card offers several features and benefits:

  1. Domestic Usage: The BOI Master India Domestic Credit Card is valid only in India and Nepal.
  2. Rewards Program: Earn 2X reward points on POS and ECOM transactions (excluding blocked categories).
  3. Cash Limit: Cash limit is capped at 50% of the spending limit for added financial control.
  4. ATM Withdrawal: Withdraw up to Rs. 15,000 per day from ATMs using the credit card.
  5. Billing Cycle: Billing cycle spans from the 16th of the current month to the 15th of the next month.
  6. Payment Deadline: Payment is due on or before the 5th of the succeeding month, aligning with the needs of the salaried class.
  7. Interest-Free Period: Enjoy interest-free credit for up to 51 days, with a revolving credit facility at a preferential rate.
  8. Flexible Credit Limits: Add-on cards come with flexible credit limits, providing convenience for supplementary cardholders.

BOI Master India Domestic Credit Card Fees and Charges

Explore the fee structure for the BOI Master India Domestic Credit Card and discover the financial advantages that come with it.

  1. Issuance Fee: No issuance fee is charged.
  2. Annual Maintenance Charge (AMC) for Principal Card: Zero annual maintenance charge.
  3. AMC for Add-On Card: No annual maintenance charge for add-on cards.
  4. Card Replacement Fee: Replacement fee is Rs. 300.

Eligibility Criteria for BOI Master India Domestic Credit Card

Here are essential criteria for applying for an BOI Master India Domestic Credit Card:

  1. Individuals: Unlock BOI Master India Domestic Credit Card benefits.
  2. Staff/Non-staff: Secure finances with exclusive perks.
  3. Private Limited Companies: Elevate company transactions seamlessly.
  4. Partnership Firms: Experience rewards and smooth transactions.
  5. Public Limited Companies: Access privileges for corporate spending.
  6. Income Verification: Customers need a stable, verifiable income through Income Tax Returns.

Documents Required for BOI Master India Domestic Credit Card

To apply for the BOI Master India Domestic Credit Card, you will typically need to provide the following documents:

1. Identification Proof:

  • Passport
  • Aadhar card
  • Voter ID
  • Driver’s license

2. Address Proof:

  • Utility bills (electricity, water, gas)
  • Aadhar card
  • Rent agreement

3. Income Proof:

  • Salary slips
  • Income Tax Returns
  • Bank statements

4. Employment Proof:

  • Employment letter
  • Employee ID card

5. Credit Score: A good credit score enhances approval chances.

6. Passport-sized Photographs: Recent passport-sized color photographs.

7. Application Form: Completed BOI Master India Domestic Credit Card application form.

8. Additional Financial Documents:

  • Property papers (if applicable)
  • Fixed deposit receipts (if applicable)

How To Apply for BOI Master India Domestic Credit Card?

Follow these steps to apply for the Bank of India (BOI) Master India Domestic Credit Card online:

  1. Visit BOI Website: Go to the official Bank of India website.
  2. Navigate to Credit Cards Section: Locate and click on the “Credit Cards” section on the website.
  3. Choose Master India Domestic Credit Card: Select the BOI Master India Domestic Credit Card from the list of available credit cards.
  4. Review Card Details: Read through the features, benefits, and terms associated with the Master India Domestic Credit Card.
  5. Check Eligibility: Verify the eligibility criteria to ensure you meet the requirements.
  6. Complete Online Application: Fill out the online application form with accurate personal, financial, and contact details.
  7. Upload Documents: Scan and upload the necessary documents such as ID, address proof, income proof, etc.
  8. Submit Application: Review the entered information and submit the application form online.
  9. Application Tracking: Use the application tracking feature on the website to monitor the status of your application.

Conclusion:

The BOI Master India Domestic Credit Card stands out as a practical and budget-friendly financial tool for individuals primarily engaged in domestic transactions. With its low annual fee, tailored credit limit, and essential features, this credit card caters to those seeking simplicity and convenience in their everyday spending. While it may not offer extensive rewards, its focus on domestic utility makes it a sensible choice for individuals looking for a straightforward credit solution within the country.

Frequently Asked Questions (FAQs)

Q: What is the BOI Master India Domestic Credit Card?

A: It’s a credit card from Bank of India designed for domestic use, offering various benefits.

Q: What are the key features of the BOI Master India Domestic Credit Card?

A: Features include rewards, discounts, and convenient domestic transactions.

Q: How can I apply for the BOI Master India Domestic Credit Card?

A: Apply online through the official BOI website or visit a branch for offline application.

Q: What documents are required for the application process?

A: Commonly needed documents include ID proof, address proof, income proof, and photographs.

Q: What is the eligibility criteria for BOI Master India Domestic Credit Card?

A: Eligibility is based on income, credit score, and other criteria. Refer to BOI’s website for specific details.

Q: How long does it take to process the BOI Master India Domestic Credit Card application?

A: Processing times vary; use the application tracking feature or contact the bank for updates.

Q: Can I check my credit card balance and transactions online?

A: Yes, BOI provides online banking services for convenient access to card information.

Q: Are there any annual fees associated with the BOI Master India Domestic Credit Card?

A: Check the terms and conditions for information on fees and charges.

Q: How do I earn and redeem rewards with this credit card?

A: Details about reward programs and redemption options are available on BOI’s official platform.

Q: What should I do if my BOI Master India Domestic Credit Card is lost or stolen?

A: Immediately report the loss to BOI’s customer service to block the card and request a replacement.