BOBCARD CORPORATE Credit Card – Benefits, Fees & Eligibility

BOBCARD Corporate Credit Card

Introduction

The BOBCARD Corporate Credit Card is an excellent solution designed for both new and existing business endeavors, providing stable financial aid and streamlining business operations. It serves as a valuable tool for corporations to effortlessly manage payments and track expenses, while also offering a range of benefits to their employees. This card features zero joining fees, and offers an interest-free credit period of up to 50 days, along with reward points on business transactions, fuel surcharge waivers, easy EMI options, and essential insurance coverage. It aims to support businesses in achieving their goals and empowering employees with convenient payment solutions and perks.

Welcome Benefits

• Earn 500 Reward Points on spending ₹5,000 within 60 days of card issuance.

Fees

• Joining Fee: Nil
• Renewal Fee: ₹1,000 + GST
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% on the conversion amount
• Interest Rates: 3.25% per month (39% per annum)
• Fuel Surcharge:
  • 1% Fuel Surcharge waived off on all fuel transactions between ₹400-₹5000.
  • Maximum waiver of ₹250 per statement cycle.
  • The GST component on the fuel surcharge is not reversed.
  • The rate of fuel surcharge may vary depending on the fuel station and their acquiring bank.
  • The surcharge is levied by the acquiring bank providing the terminal to the merchant.
  • The value of the fuel transaction on the charge slip will differ from the credit card statement since the fuel surcharge and GST on the same are levied by the acquiring bank after the transaction.
  • No Reward Points are earned on fuel transactions.
• Cash Advance Charges: 2.5% on withdrawal amount, subject to a minimum charge of ₹500.

Rewards

General Rewards

• Earn 1 Reward Point for every ₹100 spent on other categories.
• Earn 0.5 Reward Points for every ₹100 spent on selected categories (e.g., utility, telecom, government payments).
• No Reward Points are earned on fuel transactions.

Corporate Benefits

• Enjoy up to 50-days interest-free credit period for smooth business operations.
• Get a personalised card look with your Corporate Name mentioned through fourth-line embossing.
• Receive categorised employee spending statements to keep track of business spends.
• Streamline internal settlement processes.
• Easy tracking of expenses and employee spending.
• Utilize easy EMI options for various transactions.

Employee Benefits

• Take control of Corporate Credit Card activities with the Self-Care Portal, a tailor-made self-servicing platform.
• Receive 8 complimentary domestic airport lounge accesses annually (limited to 2 visits per quarter).
• Effective 1st January 2025, complimentary lounge access will be subject to a minimum spend of ₹20,000 in the preceding calendar quarter.

Insurance

• Air Accidental Death Cover: ₹1 Crore
• Non-Air Accidental Death Cover: ₹10 Lakh
• Benefit from Zero Liability protection on a lost card if the loss is reported immediately to ensure safety against fraudulent transactions.

Other Services

• Access 24/7 IVR support for card-related queries (Toll-free no. 1800-103-1006).
• Benefit from same-day billing on all credit cards.
• Receive personalised E-statements on registered Email IDs.
• Repay bills anytime with multiple payment modes like Instant Pay and Self-service Portal.

Rewards Redemption Guide

• All accumulated reward points can be redeemed for cashback.
• The redemption value is 1 Reward Point = ₹0.25.
• Multiple redemption options are available for reward points.
• The reward program is not applicable on select Merchant Category Codes (MCCs) and Fuel transactions.

Card Eligibility Criteria

• Residency: Indian Resident.
• Age:
  • Primary Cardholder: 21 to 60 years.
  • Add-on Cardholder: Above 18 years.
• Business Type: Sole proprietorships are not eligible.
• Corporate Relationship with Bank of Baroda: The Corporate must hold one of the following relationships with Bank of Baroda:
  • CC/OD (Cash Credit / Overdraft) relationship.
  • Current Account relationship.
  • Fixed Deposit relationship.

Documents Required

• Mandatory Proof:
  • Recent Passport size photograph (with clear/white background & without dark/tinted glass).
  • PAN Card.
• Permanent Address Proof:
  • Aadhaar Card (both sides).
  • Voter ID Card issued by Election Commission of India.
  • Passport.
  • Driving Licence.
  • Job Card.
• Income Proof:
  • Last 3 years IT Return copies.
  • Memorandum, Articles of Association & Certificate of Incorporation for companies.
  • Partnership deed & registration for partnerships.

Card Review

The BOBCARD Corporate Credit Card is an excellent choice for corporations, offering substantial benefits to both the organization and its employees. It stands out with its zero joining fee, making it an accessible option for businesses. Corporations benefit from its features that facilitate easy tracking of expenses, streamlining transactions, and managing employee spending effectively, promoting a cashless operational environment. Employees, on the other hand, enjoy perks like complimentary domestic airport lounge access for business travel and valuable insurance coverage. The card also provides reward points on business transactions, a fuel surcharge waiver, and the convenience of easy EMI options, making it a comprehensive financial tool for managing diverse business needs and enhancing employee satisfaction.

Important Product Details

• Zero Joining Fee.
• 1 Reward Point for every ₹100 spent on eligible categories.
• 8 complimentary domestic airport lounge accesses annually.
• Insurance protection covering air accident deaths and non-air accident cases.
• 1% Fuel Surcharge waiver on eligible transactions.
• Easy EMI option available for most transactions.
• Fourth Line Embossing for corporate name personalization on the card.
• Offers an instant credit period of up to 50 days, interest-free.
• Provides easy tracking of expenses for corporations and their employees.

Other Details

• Application Process: You can apply for the BOBCARD Corporate Credit Card either online or offline. For offline applications, visit your nearest Bank of Baroda branch with all the necessary documents and fill out the physical application form. For online applications, select the card and fill out the provided application form. For further assistance, contact BOBCARD customer support at 1800-266-5100/7100.
• Note on Fuel Surcharge Waiver Range: While the official Bank of Baroda website specifies a fuel transaction range of ₹400-₹5000 for the 1% surcharge waiver, another source indicates a range of ₹500-₹3,000 for the same waiver. The maximum waiver of ₹250 per statement cycle applies consistently across both indicated ranges.