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

Indian Navy Varunah BOBCARD Credit Card

Introduction

The Indian Navy Varunah BOBCARD Credit Card is exclusively offered by BOBCARD LIMITED to Indian Navy personnel, including designated Sailors, Officers, and Veterans. This card is available in three variants: Varunah Premium, Varunah Plus, and Varunah Credit Card, with the Premium variant offering the highest benefits and associated fees. Cardholders can enjoy a range of privileges, from exciting welcome benefits like complimentary memberships and bonus rewards, to robust reward rates across various spending categories, airport lounge access, and comprehensive insurance covers up to Rs. 1 Crore. It is designed to provide special recognition and value to those who serve the Nation.

Welcome Benefits

• For Varunah Premium Credit Card:
  • 500 bonus reward points on spends of ₹5,000 or more within 60 days of card issuance.
  • Complimentary 12 Months Amazon Prime Membership.
  • Complimentary 6 Months FITPASS Pro Membership worth ₹15,000.
• For Varunah Plus Credit Card:
  • Complimentary 12 Months Amazon Prime Membership.
  • Complimentary 6 Months FITPASS Pro Membership.

Fees

• Joining Fee:
  • Nil for Varunah Card.
  • Rs. 1,499 for Varunah Plus Card.
  • Rs. 2,499 for Varunah Premium Card.
• Renewal Fee:
  • Nil for Varunah Card.
  • Rs. 1,499 for Varunah Plus Card.
  • Rs. 2,499 for Varunah Premium Card.
• Spend-Based Waiver:
  • For Varunah Premium Card:
    • Joining fee is reversed if the cardholder spends ₹25,000 or more within the first 180 days of card issuance.
    • Annual fee is reversed on spending ₹1,50,000 or more in the previous card anniversary year.
  • For Varunah Plus Card:
    • Joining fee is waived if the cardholder spends ₹15,000 or more within the first 180 days of card issuance.
    • Annual fee is waived on spending ₹1,50,000 or more in the previous card anniversary year.
  • Note on Fee Reversal: First year fee reversal will reflect in the 4th bill statement from the card issuance month, provided no dues. Fee reversals are applicable only to non-delinquent credit cardholders.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup:
  • 2% with Varunah Premium variant.
  • 2.5% with Varunah Plus variant.
  • 3.5% with the basic Varunah Card.
• 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 capped at ₹250 per statement cycle.
  • Note: Fuel transactions are not eligible for Reward Points, and the GST component is not reversed.
• Cash Advance Charges: 2.5% of the withdrawn amount, subject to a minimum of Rs. 300.

Rewards

• Reward Rate Structure:
  • Varunah Premium Credit Card:
    • Earn 5X Rewards (15 Reward Points per ₹100) on Travel, Online, Dining & International Spends.
    • Earn 3 Reward Points per ₹100 spent on any other category (core rewards).
    • 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 R.P for per ₹100).
  • Varunah Plus Credit Card:
    • Earn 2 Reward Points on every retail spend of Rs. 100.
    • Earn 5x Reward Points on dining, travel, online purchases, and international spends.
  • Varunah Credit Card:
    • Earn 1 Reward Point on every retail spend of Rs. 100.
    • Earn 5x Reward points on groceries and departmental store spends.
• Lounge Access:
  • Domestic Lounge Access:
    • Unlimited complimentary domestic lounge access with the Varunah Premium variant.
    • 3 complimentary domestic lounge access every quarter with the Varunah Plus variant.
    • Condition for Lounge Access (Varunah Premium): Effective 1st Jan, 2025, complimentary lounge access will be subject to minimum spends of Rs 40,000 in the preceding calendar quarter.
  • International Lounge Access: Not available.
• Insurance:
  • In-built Personal Accidental Death Cover:
    • Air Accident cover worth ₹1 Crore with Varunah Premium Card.
    • Air Accident cover worth ₹50 lakhs with Varunah Plus Card.
    • Non-Air (includes Sea) Accidental Death Cover worth ₹10 Lakhs with Varunah Premium and Varunah Plus variants.
    • Accidental Death (air and non-air) cover worth ₹20 lakhs with the basic Varunah Card.
• Other Lifestyle Benefits:
  • Dining Experiences: Delight yourself with mouthwatering Culinary Offers and revel in 5X Rewards (15 Reward Points per ₹100) on your Dining Spends (Varunah Premium).
  • Shopping Delights: Thrill yourself with 5X Rewards (15 Reward Points per ₹100) on online spends and relish attractive discounts across leading brands (Varunah Premium).
  • Smart EMI Options: Convert purchases of > ₹2,500/- on your card into Smart EMIs 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 loss of card immediately to ensure zero liability on any fraudulent transactions.
  • Contactless Safe Payments: Your card is enabled with a wireless chip technology for secure & faster payments in contactless mode.
• Reward Exclusions: Reward program is not applicable on select MCCs and Fuel. Fuel transactions do not earn reward points. UPI transactions are eligible only for core Reward Points and do not qualify for bonus rewards.

Rewards Redemption Guide

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

Card Eligibility Criteria

• Target Audience: Designated Sailors & Officers of the Indian Navy & Indian Navy Veterans.
• Age:
  • Primary Cardholder: 18 to 70 years.
  • Add-on Cardholders: Above 18 years.
• Income: Applicant should either be self-employed or salaried and should have a stable source of monthly income.
• Credit Score: Applicant should have a decent credit score.

Documents Required

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

Card Review

The Indian Navy Varunah BOBCARD Credit Card is an excellent offering tailored exclusively for Indian Navy personnel, available in three distinct variants (Premium, Plus, and Varunah) to cater to varied spending habits and needs. The basic Varunah variant is lifetime-free, and even the higher-tier Premium and Plus cards can effectively become free by meeting reasonable spending targets. This card stands out with its competitive reward rates, particularly the 5X rewards on categories like travel, online, dining, and international spends for the premium variant. Complimentary domestic lounge access and substantial insurance covers (up to Rs. 1 Crore for air accidents with the Premium card) add significant value. While the lounge access for the Premium variant will introduce a spend-based condition from January 2025, the overall package remains highly attractive. It's a strong recommendation for eligible Indian Navy personnel seeking a credit card that rewards their service with substantial benefits and privileges.

Important Product Details

• Complimentary annual Amazon Prime membership (with Premium and Plus variants).
• Complimentary 6-month Fitpass Pro membership (with Premium and Plus variants).
• 500 bonus Reward Points as a welcome benefit (with Varunah Premium Card).
• Reward rate of up to 15 Reward Points on every spend of Rs. 100 (with Varunah Premium Card).
• Complimentary domestic lounge access every year (unlimited for Premium, 3 per quarter for Plus).
• Reduced Foreign Currency Markup: 2% (Premium), 2.5% (Plus), 3.5% (Varunah).
• Joining and annual fee waiver based on spending thresholds.
• Insurance covers worth up to Rs. 1 Crore for air accidents.
• 1% fuel surcharge waiver on all fuel transactions between Rs. 400 and Rs. 5,000.
• Option to convert purchases over ₹2,500 into Smart EMIs.
• Up to 3 lifetime free add-on cards.
• Zero liability protection on lost or stolen cards.
• Contactless payment functionality.

Other Details

• The Indian Navy Varunah BOBCARD Credit Card is available in three card variants: VARUNAH Premium, VARUNAH Plus, and VARUNAH.
• Application process is digital and involves 3 simple steps: Fill Online Application form, E-sign using Aadhaar, Verify identity via Video KYC.
• The card is rated 4.5/5.