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Bank of India SwaDhan Rupay Platinum Credit Card

Product Details
Credit Card Name : 

Bank of India SwaDhan Rupay Platinum Credit Card

Bank Name :

Bank Of India

Type :

Regular Credit Card

Interest Rate : 

1.20% p.m. (15.40% p.a.) on daily balances
In case of default service charges is 1.70% p.m. (22.45 % p.a

Eligibility :

Minimum age of the card holders should be 18.
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.

Bank of India SwaDhan Rupay Platinum Credit Card
Pros
  • Globally accepted Card.  

  • Customers will get 2X Reward points in POS an ECOM transactions.  

  • Flexible credit limits for add-on cards.

Cons
  • Card is issued against TDR (Term Deposit Receipt) only. 

  • No complimentary Domestic /international airport lounge visit facility is available. 

  • Few add-on features. 

  • No welcome benefit

Pros & Cons
Welcome Benefits

None 

Rewards System
  • 1 Reward point = INR 0.25 

  • You get 2 StarPoints on every Rs. 100 on your regular spends. 

  • You get 3 StarPoints on every Rs. 100 on your spends at merchant falling under your Preferred Category. You must select exactly one Preferred Category at the time of registration.

  • Effective Cashback Rate: 1.25%

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.
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
  • Issued against a fixed deposit: You don't need a separate credit line as the card is issued against your existing Fixed Deposit Receipt (TDR) with Bank of India.

  • No annual fee: You don't have to pay any annual fees to keep the card active.

  • Reward points: Earn 2 reward points on every Rs. 100 spent on POS and e-commerce transactions (excluding blocked categories).

  • International acceptance

Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
  • Visit your nearest Bank of India branch. 

  • Fill out the application form and submit it along with the required documents. 

  • The required documents are: Identity proof: A copy of your PAN card, Aadhaar card, or passport. Address proof: A copy of your voter ID card, driving license, or utility bill. Proof of income: A copy of your latest salary slip or income tax return. 

  • The Bank of India will review your application and will contact you if your application is approved.

Account Opening and Procedure
Bank of India SwaDhan Rupay Platinum Credit Card

Bank of India SwaDhan Rupay Platinum credit card is a secured credit card. The card is issued against a fixed deposit that is used as security. Customers will be able to earn interest on the deposit while using their credit card. However, it's important to note that this card is not issued to individuals without an existing fixed deposit and the limited acceptance and lower reward rate may not be ideal for frequent travelers or high spenders.

Abhijeet Saxena

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 500  

  • 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

N/A

Billing Cycle

30 Days

Fees & Charges
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