Bank of Baroda Premier Credit card
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Users will get 500 reward points on spending Rs 5000 or more in the first 60 days of card issuance.; If the user spends Rs 10,000 in the first 60 days then the joining fees get reversed.
Milestone Benefits
None.
Cashback Rate
The value of 1 reward point = INR 0.25.
Users will earn 5X rewards i.e. 10 reward points for every Rs. 100 spent on Travel, Dining and Abroad (International spending). Effective cashback rate = 2.5%.
2 reward points for every Rs. 100 spent on other categories. Effective cashback rate = 0.50%.
Movie Benefits
None.
Dining Benefits
Reward System: The value of 1 reward point = Rs 0.25. Users will earn 5X rewards i.e. 10 reward points for every Rs 100 spent on Travel, Dining and Abroad (International spending). Effective cashback rate = 2.5%
Other Benefits
Up to 3-lifetime free Add-on cards.; Users will get personal accidental death insurance coverage. If the user spends Rs 10,000 in the first 60 days then the joining fees get reversed.
Lounge Access
1 complimentary airport lounge visit every calendar quarter at participating lounges.
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Users will get 500 reward points on spending Rs 5000 or more in the first 60 days of card issuance.; If the user spends Rs 10,000 in the first 60 days then the joining fees get reversed.
Milestone Benefits
None.
Cashback Rate
The value of 1 reward point = INR 0.25.
Users will earn 5X rewards i.e. 10 reward points for every Rs. 100 spent on Travel, Dining and Abroad (International spending). Effective cashback rate = 2.5%.
2 reward points for every Rs. 100 spent on other categories. Effective cashback rate = 0.50%.
Movie Benefits
None.
Dining Benefits
Reward System: The value of 1 reward point = Rs 0.25. Users will earn 5X rewards i.e. 10 reward points for every Rs 100 spent on Travel, Dining and Abroad (International spending). Effective cashback rate = 2.5%
Other Benefits
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Lounge Access
1 complimentary airport lounge visit every calendar quarter at participating lounges.
Fees & Charges
Joining Fee
Rs. 1000/-
Annual Fee
INR 1000 (Spend Rs. 1,20,000 on your card in a year for fee waiver)* *Joining/Annual fee waiver is applicable only to non-delinquent credit cardholders
Cash Advance Fee
Cash Withdrawal fee: Domestic ATMs- 2.5% of the transaction amount subject to minimum of INR 300 International ATMS- 3% of the transaction amount subject to a minimum of INR 300
Interest rate
3.25% per month or 39% per annum
Late Payment Fee
Late Payment Charges: Statement Balance : Charges Less than INR 200 : NIL INR 200- 500 : INR 100 INR 501- 1000 : INR 400 INR 1001- 10000 : INR 500 More than 10000: INR 750
Foreign Currency Transactions Fee
Foreign Currency Transaction Fee: 3.5% of transaction amount
Other Fees
First year fee: INR 1000 (Spend Rs. 10,000 on your card within first 60 days of card setup date for First year fee reversal.
Fees & Charges
Joining Fee
Rs. 1000/-
Annual Fee
INR 1000 (Spend Rs. 1,20,000 on your card in a year for fee waiver)* *Joining/Annual fee waiver is applicable only to non-delinquent credit cardholders
Cash Advance Fee
2.5% or ?500 whichever is higher
Interest rate
3.25% per month or 39% per annum
Late Payment Fee
Late Payment Charges: Statement Balance : Charges Less than INR 200 : NIL INR 200- 500 : INR 100 INR 501- 1000 : INR 400 INR 1001- 10000 : INR 500 More than 10000: INR 750
Foreign Currency Transactions Fee
Foreign Currency Transaction Fee: 3.5% of transaction amount
Other Fees
First year fee: INR 1000 (Spend Rs. 10,000 on your card within first 60 days of card setup date for First year fee reversal.
Special Features
5X reward points on travel, dining, and international spends.
Eligibility Criteria
Age criteria: 18 to 65 years old
Salaried or self-employed
Minimum monthly income must be Rs. 60,000 per month
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Eligibility Check: Ensure you meet the minimum eligibility criteria, such as having a minimum annual income of Rs. 3 lakhs for salaried individuals and Rs. 5 lakhs for non-salaried individuals.
Apply Online: The easiest way to apply is online through the Bank of Baroda website. You'll need to provide basic information, income details, and supporting documents.
Document Verification: Bank of Baroda will verify your documents and credit score.
Card Approval: If approved, you'll receive your BOB PREMIER Credit Card within 7-10 business days.
Contact Details
Email: crm@bobfinancial.com
Account Opening and Procedure
The Bank of Baroda PREMIER Credit Card is a suitable option for moderate spenders who value occasional airport lounge access, travel-related rewards, and everyday benefits like movie discounts and fuel surcharge waiver. The complimentary add-on card, welcome bonus, and other features add further value. However, the moderate annual fee, lower reward rate compared to some competitors, limited redemption options, lower point value, and network limitation might necessitate careful consideration for those seeking higher rewards, wider lounge access, extensive redemption options, or wider network coverage.
The Bank of Baroda PREMIER Credit Card is a suitable option for moderate spenders who value occasional airport lounge access, travel-related rewards, and everyday benefits like movie discounts and fuel surcharge waiver. The complimentary add-on card, welcome bonus, and other features add further value. However, the moderate annual fee, lower reward rate compared to some competitors, limited redemption options, lower point value, and network limitation might necessitate careful consideration for those seeking higher rewards, wider lounge access, extensive redemption options, or wider network coverage.
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