BoM Secured Credit Card – Benefits, Fees & Eligibility

Introduction

The Bank of Maharashtra Secured Credit Card is an FD-backed platinum credit card designed for individuals who may not have a credit history or income proof. It allows customers to utilize their Fixed Deposit for transactions while continuing to earn attractive interest on it. Key differentiating benefits include being a lifetime free card, instant approval, and the ability to earn rewards on spends.

Fees

• Joining Fee: Nil (This is a lifetime free credit card).
• Renewal Fee: Nil (This is a lifetime free credit card).
• Fuel Surcharge: Waiver up to Rs. 200 per month.

Rewards

• Reward Points: Accumulate 1 reward point for every Rs. 100 spent or multiples thereof.
• Domestic Lounge Access: Enjoy domestic airport lounge benefits at select 30+ lounges, twice per quarter.

Rewards Redemption Guide

• Accumulated reward points can be converted into e-vouchers or mercantile.
• Easy EMI conversion options are available for expenses greater than Rs. 2500.
• Transactions for the purchase of gold/jewellery are not allowed for EMI conversion.

Card Eligibility Criteria

• Minimum Age: 18 years.
• Minimum Fixed Deposit Amount: Rs. 12,500.
• Fixed Deposit Requirement: Must have a fixed deposit with Bank of Maharashtra.
• Documents Required: KYC documents such as PAN and Aadhar.

Card Review

The Bank of Maharashtra Secured Credit Card is an excellent option for individuals looking to build or improve their credit history, especially those without traditional income proof. Its FD-backed nature provides a secure way to access credit, coupled with the advantage of being a lifetime free card. Cardholders also benefit from earning interest on their Fixed Deposit, along with rewards and lounge access.

• Pros:
  • No credit history required.
  • No income proof required.
  • Lifetime free credit card.
  • Instant approval.
  • Attractive personalized card.
  • Relaxation in upper age limits.
  • Customers continue to earn attractive interest on their Fixed Deposit.
  • Enjoy an interest-free credit period.
  • Fuel surcharge waiver up to Rs. 200 per month.
  • Domestic airport lounge access (twice per quarter).
  • Reward points on all spends.
  • Free add-on cards.
• Cons:
  • Requires a fixed deposit with Bank of Maharashtra.
  • EMI conversion is not allowed for gold/jewellery purchases.

Important Product Details

• This is an FD-backed platinum credit card.
• No credit history is required for application.
• No income proof is required for application.
• The card is lifetime free, with no joining or renewal fees.
• Instant approval is available.
• Cardholders receive an attractive personalized card.
• There is a relaxation in the upper age limit for applicants.
• A fuel surcharge waiver of up to Rs. 200 per month is provided.
• Domestic airport lounge benefits are available at select 30+ lounges, twice per quarter.
• Earn 1 reward point for every Rs. 100 spent or multiples thereof.
• Reward points can be converted into e-vouchers or mercantile.
• Easy EMI conversion options are available for expenses greater than Rs. 2500, excluding gold/jewellery purchases.
• Free add-on cards are available.
• Customers continue to earn attractive interest on their Fixed Deposit.
• An interest-free credit period is offered.

Other Details

• Bank of Maharashtra advises customers not to share bank account details, CVV, or PIN through phone calls, emails, or SMS, as the bank never asks for such information.
• General terms and conditions, privacy policy, and cookie policy apply as per the bank's website.