Indian Navy Varunah BOBCARD Credit Card – Benefits, Fees & Eligibility

Introduction

The Indian Navy Varunah BOBCARD Credit Card, issued by BOBCARD LIMITED, is a premium offering exclusively designed for Indian Navy personnel. It comes in three variants: Varunah Premium, Varunah Plus, and Varunah, with the Premium variant offering the most extensive benefits. Key differentiating features include accelerated 5X rewards on categories like travel, online, dining, and international spends, unlimited complimentary domestic airport lounge access for the Premium variant, and valuable welcome benefits such as complimentary Amazon Prime and FITPASS PRO memberships. The card also provides substantial insurance coverage, including an air accidental death cover of up to ₹1 Crore.

Welcome Benefits

• Varunah Premium:
  • 500 bonus reward points on spends of ₹5,000 or more within 60 days of card issuance.
  • Complimentary 12-month Amazon Prime Membership.
  • Complimentary 12-month FITPASS PRO Membership worth ₹48,000.
• Varunah Plus:
  • Complimentary 12-month Amazon Prime Membership.
  • Complimentary 6-month Fitpass Pro membership.

Fees

• Joining Fee:
  • Indian Navy Varunah Premium BOBCARD: ₹2,499
  • Indian Navy Varunah Plus BOBCARD: ₹1,499
  • Indian Navy Varunah BOBCARD: Nil
• Annual Fee:
  • Indian Navy Varunah Premium BOBCARD: ₹2,499
  • Indian Navy Varunah Plus BOBCARD: ₹1,499
  • Indian Navy Varunah BOBCARD: Nil
• Spend-Based Waiver:
  • Varunah Premium:
    • Joining fee reversed on spending ₹25,000 or more within the first 180 days of card issuance.
    • Annual fee reversed on spending ₹1,50,000 or more in every card anniversary year.
  • Varunah Plus:
    • Joining fee waived on spending ₹15,000 or more within the first 180 days of card issuance.
    • Annual fee waived on spending ₹1,50,000 or more in the previous year.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup:
  • Varunah Premium: 2%
  • Varunah Plus: 2.5%
  • Varunah: 3.5%
• Interest Rates: 3.49% per month (41.88% per annum)
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all fuel stations across India on transactions between ₹400 and ₹5,000 (Maximum waiver of ₹250 per statement cycle).
• Cash Advance Charges: 2.5% of the withdrawn amount, subject to a minimum of ₹300.

Rewards

Rewards Earning

• Varunah Premium:
  • 5X Rewards (15 Reward Points per ₹100) on Travel, Online, Dining & International Spends.
  • 5X Rewards are capped at 2,500 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.
  • 3 Reward Points per ₹100 spent on any other category.
• Varunah Plus:
  • 5X Reward Points on dining, travel, online purchases, and international spends.
  • 2 Reward Points on every retail spend of ₹100.
• Varunah:
  • 5X Reward points on groceries and departmental store spends.
  • 1 Reward Point on every retail spend of ₹100.
• Fuel transactions are not eligible for Reward Points.
• UPI transactions are eligible only for core Reward Points and do not qualify for bonus rewards.

Travel Benefits

• Domestic Lounge Access:
  • Varunah Premium: Unlimited complimentary access at Domestic Airport lounges. (Effective 1st Jan, 2025, this will be subject to minimum spends of ₹40,000 in the preceding calendar quarter).
  • Varunah Plus: 3 complimentary domestic lounge access every quarter.
• International Lounge Access: Not applicable.

Insurance Benefits

• Varunah Premium:
  • Air Accidental Death Cover: ₹1 Crore.
  • Non-Air (includes Sea) Accidental Death Cover: ₹10 Lakhs.
• Varunah Plus:
  • Air Accidental Death Cover: ₹50 Lakhs.
  • Non-Air Accidental Death Cover: ₹10 Lakhs.
• Varunah:
  • Accidental Death (Air and Non-Air) Cover: ₹20 Lakhs.

Lifestyle Benefits

• Smart EMI Options: Convert purchases of more than ₹2,500 on your card into Smart EMIs with flexible tenures of 6 to 48 months.
• Free Add-on Card: Get up to 3 lifetime free add-on cards for your spouse, parents, siblings, or kids (above age 18).
• Zero Liability on Lost Card: Report the loss of your card immediately to ensure zero liability on any fraudulent transactions.
• Contactless Safe Payments: The card is enabled with wireless chip technology for secure and faster contactless payments.

Rewards Redemption Guide

• Reward points can be redeemed as cashback at a rate of 1 Reward Point = ₹0.25.
• Accumulated reward points can also be redeemed against a variety of options at the BOBCARD Rewards portal.

Card Eligibility Criteria

Eligibility Rules

• Exclusively for Designated Sailors & Officers of the Indian Navy & Indian Navy Veterans.
• Primary Cardholder Age: 18 to 70 years. Add-on applicants must be above 18 years of age.
• Applicants should either be self-employed or salaried and have a stable source of monthly income.
• Applicants should have a decent credit score.

Documents Required

• Recent Passport size photograph (with clear/white background & without dark/tinted glass).
• PAN Card photocopy.
• ID card or Service Certificate as proof of being an Indian Navy personnel.
• Permanent Address Proof: Aadhaar Card (both sides), Voter ID Card issued by the election commission of India, Passport, Driving Licence, Job Card, or latest utility bills.
• Income Proof: ID card/Service Certificate or Latest Salary Slip mentioning the rank of the Official, or bank statement.

Card Review

The Indian Navy Varunah BOBCARD Credit Card is a highly tailored offering for Indian Navy personnel, available in three variants to cater to diverse financial needs. The basic Varunah variant is lifetime-free, while the Plus and Premium variants offer substantial benefits that can effectively make them free through spend-based fee waivers. This card stands out with its competitive reward rates, complimentary domestic lounge access, and comprehensive insurance benefits, making it a strong contender compared to other cards for defence personnel. For eligible individuals, this card provides significant value and a robust suite of privileges.

Important Product Details

• Up to 15x Reward Points on specific categories such as dining, travel, online, and international spends for Premium/Plus variants, and groceries/departmental stores for the Varunah variant.
• Unlimited complimentary domestic lounge access for Varunah Premium, and 3 complimentary accesses per quarter for Varunah Plus.
• Complimentary Amazon Prime membership (12 months for Premium/Plus).
• Complimentary FITPASS PRO membership (12 months for Premium, 6 months for Plus).
• Welcome bonus of 500 reward points for Varunah Premium.
• Low foreign currency markup fee (2% for Premium, 2.5% for Plus).
• Comprehensive insurance cover including Air Accidental Death Cover up to ₹1 Crore for the Premium variant.
• 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000.
• Joining and annual fee waivers based on achieving specified spending criteria.
• Provision for up to 3 lifetime free add-on cards.
• Smart EMI options for purchases above ₹2,500.
• Zero liability protection on lost cards.

Other Details

• The reward program is not applicable on select Merchant Category Codes (MCCs) and Fuel transactions.
• The fuel surcharge waiver does not reverse the GST component. The rate of fuel surcharge may vary depending on the fuel station and their acquiring bank, and the surcharge is levied by the acquiring bank.
• First year fee reversal will reflect in the 4th bill statement from the card issuance month, provided there are no outstanding dues.
• Fee reversals (first year and annual) are applicable only to non-delinquent credit cardholders.
• The online application process involves filling an application form, e-signing using Aadhaar, and verifying identity via Video KYC.