Bank of Baroda (BOB) Credit Card Interest Rates

Bank of Baroda (BOB) is a state-owned banking and financial services bank in India. This public sector bank, which has been in operation for many years, is known to be one of the most trustworthy in the country. However, one thing that should be stated here is that because it is a government bank, people easily trust it to provide a variety of unrivalled services. When it comes to exquisite services, with its plethora of Bank of Baroda Credit Card, the bank leaves no factor unturned in its quest to make your life easier.

Customers who have the bank credit card can earn up to 50 days of interest-free shopping. This service is available as long as the user can pay the outstanding balance by the due date. However, failing to do so will result in the application of the Bank of Baroda credit card interest rate.

Bank of Baroda Credit Card Interest Rate

The interest rate on the BOB Credit Card applies if you have not paid your complete overdue amount or have only paid a portion of your total outstanding amount as the minimum amount due. However, if you have paid off your entire balance, BOB will not charge you interest on your credit card.

BOB Credit Card Interest Rate 2024

The major Bank of Baroda Credit Card interest rate:

Bank of Baroda Credit Card Name

Annual Interest Rate

BOB Prime Credit Card

39% - 41%

Features of the BOB Credit Card

Credit cards provide the following characteristics and advantages.

  • The purchases made with the card can be split up into manageable monthly payments and paid for using EMI. The interest rate is really low.
  • A number of insurance covers are offered without charge.
  • Purchase protection is also offered for cards that have been lost or stolen.
  • They are accepted everywhere because they work with Visa or MasterCard as payment gateways. They are acknowledged everywhere.
  • Every credit card offers lucrative reward points that may be accumulated and redeemed for a variety of gifts and rewards.
  • Fuel surcharge is not applied at any gas stations in the nation.
  • There are many ways to redeem the accrued reward points.
  • You can get an add-on card for each member of your family without paying a membership or annual fee.

How to Apply for Bank of Baroda Credit Cards?

There are two major ways to apply for credit cards, and they are-

a) Offline Method

You could apply for the credit card by physically visiting the bank with all of the required documents. The representative of the branch will assist you in completing the application and submitting it successfully.

b) Online Method

You can apply for the credit card online by visiting the official portal of the Bank of Baroda.

Eligibility Criteria to Apply

The eligibility criteria to apply for the BOB Credit Cards are as follows:

  • Income Requirement - To be eligible for a Credit Card, applicants must earn a particular amount of money each year.
  • Age Requirement - In order to apply for Credit Cards, applicants must be at least 18 years old. All of the applicants must be between the ages of 18 and 65.

Documents Required to Apply

When considering to apply for a Credit Card, applicants must furnish the following documents-

a) ID Proof

  • UID
  • Voter's Identity Card
  • PAN Card
  • Driving License
  • Passport

b) Address Proof

  • Fixed Line Bill
  • Passbook of PSU Bank
  • Electricity Bill
  • Passbook of PSU Bank
  • UID

c) Income Proof

  • Form 16
  • Salary slip
  • Income Tax Return

Top BoB Credit Cards in India

Bank of Baroda offers varied sets of credit cards, and they are listed below

Credit Card Name

Joining Fee

Annual Fee

BOB Prime Credit Card

-

-

BOB ICSI Diamond Credit Card

-

-

BOB Assure Credit Card

-

Rs. 500

BOBCARD Easy Credit Card

Rs. 500

Rs. 500

BOB ICAI Exclusive Credit Card

-

-

BOB CMA One Credit Card

-

-

BOB Titanium Master Credit Card

Rs. 250

Rs. 500

Features of Different Bank of Baroda Credit Cards

Every credit card that is offered by the Bank of Baroda has a different set of features and benefits to cater to the different needs of the customer, and they are-

BOB Prime Credit Card

This card has guaranteed issuance against a fixed deposit of 15,000 or more without the need for income verification.

BOB ICSI Diamond Credit Card

This card does not have a joining fee, so you can apply for it and not have to instantly pay a joining fee.

BOB Assure Credit Card

Get this credit card against the fixed deposit that allows you to withdraw cash up to 100% of your credit limit in an emergency.

BOBCARD Easy Credit Card

This is a card that is suitable for eating out and many more things. Every Rs.100 spent on eating, utility bills, and internet purchases earns you five reward points.

BOB ICAI Exclusive Credit Card

This card, too, does not have a joining fee or an annual fee, and you will receive five reward points for every Rs.100 spent on internet purchases, utility bills, and eating.

BOB CMA One Credit Card

The card has no joining fee or annual fee, and for every Rs.100 spent on restaurants, utility bills, and other online payments, you will receive five reward points.

BOB Titanium Master Credit Card

This card has a joining and annual fee for this card is Rs. 250, and the annual charge is removed if you spend Rs.25,000 in a year and make frequent payments.

Interest-Free Period

Credit cards of Bank of Baroda include interest-free periods ranging from 20 to 50 days.

The interest-free period is determined by the transaction date with respect to the statement-generating date. Furthermore, in order to take advantage of the interest-free period, the user must not have any outstanding balance on their card.

To keep the interest-free term, the cardholder must pay off their outstanding balance before the due date.

Credit Card Transactions with Interest

The Bank of Baroda will impose interest on credit cards if the complete due amount is not paid by the due date, along with other activities and transactions.

Here are a few examples-

  • When you do not pay the minimum value by the right date, you will be charged a late fee as well as extra fees.

  • When you use your credit card abroad, BOB may levy additional fees or charge you in foreign currency.

  • If you have only paid the minimum due amount, a portion of the total outstanding amount will be carried forward to the following billing cycle.

  • You took out cash with your credit card.

Advantages

BoB Bank, like all other major card issuers in the country, provides a plethora of intriguing features and benefits with their credit cards.

Various cards may have varied benefits. However, the following are the main benefits that you will notice with most of the BoB cards-

Welcome Bonuses

Cardholders receive welcome perks upon successful completion of the card membership fee. These perks can include extra reward points, coupons, premium memberships with partner brands, faster cashback, and much more.

Milestone Benefits

BoB Bank credit cardholders can receive the credit card's milestone perks upon meeting the card issuer's pre-set spend targets. Milestone rewards include bonus reward points or money, gift vouchers, and a variety of other perks.

Rewards/Cashback

When cardholders use their Credit card to make a purchase, they are rewarded with reward points or cashback. Some cards also provide accelerated cashback or points on purchases in specific categories while providing a lower reward rate on other category purchases.

The accumulated reward points can be redeemed against a variety of alternatives offered to the cardholder.

Movie & Dining Perks

To meet the entertainment demands of its cardholders, BoB provides several benefits with its cards, including complimentary/discounted movie tickets, significant reductions on eating bills, and so on.

Travel Privileges

Several of the cards provided by BoB Financial also include excellent travel benefits, such as complimentary access to airport lounges, discounted travel-related bookings, and more.

Additional Advantages

In addition to the benefits stated above, credit cards provide many more benefits, such as a waiver of the annual fee (depending on spend) and much more.

When is the Bank of Baroda Credit Card Interest Rate Charged?

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