Bank of India Rupay Platinum Credit Card
MyRupaya Ratings
Product Details
Credit Card Name :
Bank of India Rupay Platinum Credit Card
Bank Name :
Bank Of India
Type :
Regular Credit Card
Interest Rate :
1.70% p.m. (22.45% p.a.) on daily balances In case of default service charges is 2.50% p.m. (34.50 % p.a)
Eligibility :
Minimum age of the card holders should be 18. Only Indian residents can apply.
Individual, Staff/non-staff, private limited company, partnership firms, public limited company.
Customer should be having steady source of income verifiable through Income Tax Returns
Pros
Reward System: The value of 1 reward point = INR 0.25. Users will get 2 StarPoints for every Rs. 100 on regular spending. Effective cashback rate: 0.50%. 3 StarPoints on every Rs. 100 spent at any merchants. Effective cashback rate: 0.75%. Users must select exactly one Preferred category at the time of registration.
Globally accepted card.
Customers will get comprehensive insurance cover up to Rs. 2 lakhs provided by NPCI.
Customers will get 24*7 concierge services.
Customers will get 2X reward points in POS and ECOM transactions. (Excluding Blocked Categories).
EMI at POS facility is available on POS that are managed/owned by M/S WorldLine Private Limited irrespective of bank.
Maximum amount of cash limit is 50% of the spending limit.
Flexible credit limits for add-on cards.
Cons
No complimentary lounge visit.
Few add-on features.
No welcome benefit is provided.
Pros & Cons
Welcome Benefits
None
Rewards System
The value of 1 reward point = INR 0.25. Users will get 2 StarPoints for every Rs. 100 on regular spending. Effective cashback rate: 0.50%. 3 StarPoints on every Rs. 100 spent at any merchants. Effective cashback rate: 0.75%. Users must select exactly one Preferred category at the time of registration.
International Forex Markup
IFM- Upto 3.5%
Welcome Benefits and Reward System
Special Features
None
Eligibility Criteria
Minimum age of the card holders should be 18. Only Indian residents can apply.
Individual, Staff/non-staff, private limited company, partnership firms, public limited company.
Customer should be having steady source of income verifiable through Income Tax Returns
Benefits
Wide Acceptance: The Rupay network is widely accepted in India, offering convenience for everyday purchases.
Contactless Payments: Make fast and secure payments with contactless technology.
No Joining or Annual Fees: Enjoy the benefits of the card without any joining or annual fees.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Visit the Bank of India website and click on the "Apply for Credit Card" tab.
Select the "Rupay Platinum Credit Card" from the list of credit cards.
Fill out the online application form and submit it.
You will need to provide the following information in the application form: Your name, address, and contact details Your income and employment details Your credit history Your PAN card number
Once you have submitted the application form, the Bank of India will review your application and get back to you within a few days.
If your application is approved, you will receive the credit card in the mail within a few weeks.
Contact Details
Account Opening and Procedure
Recommended Credit Cards
Pros:-
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Cons:-
Reward System: The value of 1 reward point = INR 0.25. Users will get 2 StarPoints for every Rs. 100 on regular spending. Effective cashback rate: 0.50%. 3 StarPoints on every Rs. 100 spent at any merchants. Effective cashback rate: 0.75%. Users must select exactly one Preferred category at the time of registration.
Globally accepted card.
Customers will get comprehensive insurance cover up to Rs. 2 lakhs provided by NPCI.
Customers will get 24*7 concierge services.
Customers will get 2X reward points in POS and ECOM transactions. (Excluding Blocked Categories).
EMI at POS facility is available on POS that are managed/owned by M/S WorldLine Private Limited irrespective of bank.
Maximum amount of cash limit is 50% of the spending limit.
Flexible credit limits for add-on cards.
No complimentary lounge visit.
Few add-on features.
No welcome benefit is provided.
The Bank of India Rupay Platinum Credit Card is a suitable option for individuals who primarily use their credit cards for everyday purchases within India and prefer a no-fee card. The reward points program and insurance coverage offer some additional benefits. However, this card does not provide any lounge access facility and lower reward rate might not be ideal for frequent travelers or high spenders.
Bank of india rupay platinum credit card
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining fee: INR 0.
Annual Fee: INR 0
Cash advance fee: 2.5% of the amount withdrawn, or Rs. 50, whichever is higher
Interest Rate: 22.45% per annum (p.a.)
Late payment fee: 3% of the outstanding amount, or Rs. 500, whichever is higher
Foreign transaction fee: 3.5% of the transaction amount
Reward redemption fee:NIL
Fuel Surcharge
Fuel surcharge waiver of 1% on fuel purchases made at any petrol station in India.
Billing Cycle
30 Days