BOI RUPAY PLATINUM INTERNATIONAL – Benefits, Fees & Eligibility

Introduction

The BOI RUPAY PLATINUM INTERNATIONAL Credit Card, issued by Bank Of India, is positioned as a lifetime-free offering, making it an attractive entry-level option. Its primary differentiating benefits include zero joining and annual fees, along with international acceptance through the RuPay Platinum network.

Fees

• Joining Fee: Lifetime Free
• Annual/Renewal Fee: Lifetime Free
• Finance Charges (Interest Rate): 1.70% per month (20.4% Annual)
• Spend-Based Waiver: Not applicable as the card is Lifetime Free
• Over Limit Penalty: 2% of the overlimit amount, subject to a minimum of ₹250
• Rent Payment Charges: Not charged (NULL)
• Foreign Currency Markup: 3.49% of the transaction value
• Minimum Repayment Amount: 5% of Total outstanding (minimum ₹100) + All charges/fees/taxes + EMI
• Cheque Return Fees: 2% of Total Amount Due or minimum of ₹500, whichever is higher
• Late Payment Charges: ₹100 for 1 month
• Card Replacement Fees: ₹300 + GST
• Cash Advance Fees: 2% of the cash amount, with a minimum of ₹50
• Cash Advance Withdrawal Limit: 50% of the credit limit

Card Eligibility Criteria

• Age: Applicants should be at least 21 years old.
• Income:
  • Salaried Individuals: A stable net monthly income of ₹20,000 or more is essential.
  • Self-Employed Individuals/Professionals: A minimum annual income of ₹4 lakhs is required.
• Credit Score: A good CIBIL score, ideally between 750 and 900, can significantly boost approval chances.
• Citizenship: The applicant must be an Indian citizen with valid address proof.

Documents Required

• Identity Proof: Aadhaar card, Passport, or PAN card.
• Address Proof: Any Utility bill, Passport, or Voter ID.
• Income Proof: Salary slips, bank statements, or IT returns.

Card Review

The BOI RUPAY PLATINUM INTERNATIONAL Credit Card is an excellent choice for individuals seeking a basic, no-frills credit card with no annual fees. Its lifetime-free nature makes it highly accessible and cost-effective for everyday spending. While it lacks specific reward programs like movies or dining benefits, its international acceptance via RuPay Platinum is a significant advantage for travelers. It is best suited for those who prioritize avoiding fees and need a reliable card for domestic and international transactions.

• Pros:
  • Lifetime Free (No Joining or Annual Fees)
  • International acceptance through RuPay Platinum network
  • Relatively low finance charges compared to some other cards
• Cons:
  • No specific reward categories (e.g., cashback, points for movies, dining, travel) mentioned.
  • Standard foreign currency markup and cash advance fees apply.

Important Product Details

• Lifetime Free: No joining or annual fees ever.
• International Acceptance: RuPay Platinum network for global transactions.
• Credit Limit: Up to ₹10 Lakh, determined by factors such as income, repaying capacity, and credit history. Pre-approved credit limit increases may be available for existing cardholders.
• Competitive Interest Rate: 1.70% per month.

Other Details

• Online Application: Available with a quick and digital process.
• Contact Bank:
  • Call Center: 1800220088 / 022-40426005 / 022-40426006
  • Email: cgro.boi@bankofindia.co.in
  • Mailing Address: BANK OF INDIA STAR HOUSE C - 5, “G” Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051