BOBCARD ICSI Diamond Credit Card – Benefits, Fees & Eligibility

BOBCARD ICSI Diamond Credit Card

The BOBCARD ICSI Diamond Credit Card is an exclusive, lifetime-free credit card tailored specifically for active members of the Institute of Company Secretaries of India (ICSI). It offers a comprehensive suite of benefits including a complimentary FitPass Pro membership and initial bonus reward points as a welcome gift. Cardholders can enjoy accelerated reward earnings of up to 5x on specific spending categories, along with substantial milestone bonuses awarded monthly and quarterly. Travel benefits are enhanced with complimentary domestic airport lounge access and a competitive 2% foreign currency markup. The card also provides robust insurance coverage, a fuel surcharge waiver, zero liability protection, and the convenience of smart EMI options, making it a valuable financial tool for ICSI professionals seeking premium privileges without annual fees.

Welcome Benefits

• Complimentary 6-months Fitpass Pro Membership worth ₹15,000.
  • This benefit expires 60 days from the card issuance date and is applicable only to the Primary Card.
• 500 Reward Points on spending ₹5,000 and above within 60 days of card issuance.

Fees

• Joining Fee: Nil
• Renewal Fee: Nil
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 2% of the total transaction amount.
• Interest Rates: 3.49% per month.
• Fuel Surcharge:
  • 1% fuel surcharge waiver at all fuel stations across India on transactions between ₹400 and ₹5,000.
  • The maximum waiver is capped at ₹250 per statement cycle.
  • The GST component on the fuel surcharge is not reversed.
  • No Reward Points are earned on fuel transactions.
• Cash Advance Charges:
  • 2.5% of the withdrawn amount at domestic ATMs, subject to a minimum of ₹300.
  • 3% of the withdrawn amount at international ATMs, subject to a minimum of ₹300.

Rewards

• Accelerated Rewards:
  • Earn 5 Reward Points per ₹100 spent on dining, online & utility bills.
  • 5X Rewards are capped at 1000 Reward Points on the mentioned categories per statement cycle. Further spends in that statement cycle on these categories will earn Reward Points at the regular earn rate.
  • The reward program is not applicable on select Merchant Category Codes (MCCs) and Fuel.
• Core Rewards:
  • Earn 1 Reward Point per ₹100 spent on all other categories.
  • UPI transactions are eligible only for core Reward Points and do not qualify for bonus rewards.
• Milestone Rewards:
  • Earn an additional 3,999 Reward Points every quarter on spending more than ₹1 Lac or your card's credit limit (whichever is higher).
  • Earn an additional 999 bonus Reward Points every month on making at least 5 transactions worth ₹1,000 or more in a month.
• Domestic Lounge Access:
  • Get 12 complimentary access passes every year (capped at 3 per quarter) at partner domestic airport lounges.
  • Effective 1st Jan, 2025, complimentary lounge access will be subject to a minimum spend of ₹40,000 in the preceding calendar quarter.
• Insurance Benefits:
  • Get free Professional Indemnity Insurance Cover of up to ₹5 Lakhs.
  • Air accident death cover of ₹15 Lakhs.
  • Non-air accident death cover of ₹5 Lakhs.
• Add-on Cards:
  • Get up to 3 lifetime free add-on cards for your spouse, parents, siblings, or kids (above age 18).
• Smart EMI Option:
  • Convert purchases of greater than ₹2,500 on your card into Smart EMIs with flexible tenures of 6 to 48 months.

Rewards Redemption Guide

• Your accumulated reward points can be redeemed as cashback.
• The redemption value is 1 Reward Point = ₹0.25.
• Reward Points can also be redeemed against various options available at the BOBCARD Rewards portal.

Card Eligibility Criteria

• The applicant must be a Resident of India.
• The applicant must be an eligible & active member of ICSI.
• Age: For Salaried & Self-employed applicants, the age should be between 21 to 75 years.
• The applicant’s credit score might also affect the card issuer’s decision.

Card Eligibility Criteria - Documents Required

• KYC Documents
• PAN card photocopy
• Photocopy of ICSI Membership Card
• Latest Salary Slip / Latest ITR (Income Tax Return)
• Recent passport-sized photograph
• Current Address proof (such as Passport, latest utility bills, Aadhaar Card, etc.)

Card Review

The BOBCARD ICSI Diamond Credit Card is an excellent financial instrument designed exclusively for active ICSI members. Its primary appeal lies in being a lifetime free card, eliminating any concerns about joining or annual fees. Cardholders benefit significantly from robust reward programs, including accelerated points on key spending categories and generous milestone bonuses. The card's travel benefits, such as complimentary domestic lounge access and a low 2% foreign currency markup, make it highly suitable for both domestic and international usage. Furthermore, the extensive insurance coverage (Professional Indemnity, Air Accident, Non-Air Accident) provides substantial security. With additional perks like a fuel surcharge waiver, free add-on cards, and zero liability protection, this card delivers exceptional value without any cost. It is highly recommended for all eligible ICSI members seeking a premium, feature-rich credit card.

Important Product Details

• Lifetime free credit card with Zero Joining and Annual Fees.
• Exclusive credit card tailored for active ICSI members.
• Earn 5 Reward Points per ₹100 spent on dining, online, and utility bills (capped at 1000 RPs per cycle for 5X benefit).
• Receive a complimentary 6-month FitPass Pro membership as a welcome benefit.
• Get 500 bonus Reward Points upon meeting initial spending criteria.
• Opportunity to earn an additional 3,999 Reward Points quarterly on high spends and 999 bonus Reward Points monthly for regular transactions.
• Enjoy 12 complimentary domestic airport lounge accesses annually (3 per quarter), subject to a quarterly spend condition starting Jan 1, 2025.
• Benefit from a reduced foreign currency markup of only 2%.
• Comprehensive insurance cover, including Professional Indemnity up to ₹5 Lakhs, Air accident death cover of ₹15 Lakhs, and Non-air accident death cover of ₹5 Lakhs.
• 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000, capped at ₹250 per cycle.
• Provision for up to 3 lifetime free add-on cards for family members.
• Zero liability protection in case of a lost or stolen card, subject to immediate reporting.
• Option to convert purchases over ₹2,500 into Smart EMIs.

Other Details

• Contactless Payments: The card is enabled with wireless chip technology for secure and faster contactless transactions.
• How to Apply:
  • Online Application: Fill out the online application form, E-sign using Aadhaar, and verify your identity via Video KYC.
  • Offline Application: Visit the nearest BOBCARD branch with all the required documents and fill out the physical application form.