Nainital RENAISSANCE BOBCARD Credit Card – Benefits, Fees & Eligibility

Introduction

The Nainital Bank RENAISSANCE BOBCARD is a co-branded credit card specifically tailored for customers of Nainital Bank, issued in partnership with BOBCARD. Positioned as an entry to mid-range offering, it aims to reward everyday spending with a focus on shopping. Key differentiating benefits include accelerated reward points on departmental stores and movies, a 1% fuel surcharge waiver, and a complimentary personal accidental death cover. The card also offers a zero joining fee and an annual fee waiver based on milestone spends, making it an attractive option for those seeking value from their daily transactions.

Welcome Benefits

• Earn 500 Reward Points on spending ₹5,000 within 60 days of card issuance.

Fees

• Joining Fee: Zero
• Renewal Fee: ₹250 annually
• Spend-Based Waiver: The annual fee of ₹250 can be reversed by spending ₹25,000 annually. This waiver is applicable only to non-delinquent credit cardholders.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all fuel stations across India on transactions between ₹400 and ₹5,000, capped at a maximum of ₹250 per statement cycle. The GST component on the fuel surcharge is not reversed.
• Rewards Redemption Fee: Not explicitly mentioned as a separate fee, but reward points are redeemed as cashback.
• Interest Rates: Up to 50 days of interest-free credit facility from any purchase date.
• Cash Advance Charges: Not explicitly mentioned.
• Foreign Currency Markup: Not explicitly mentioned.

Rewards

• Shopping Rewards:
  • Earn 5 Reward Points for every ₹100 spent on Departmental Stores & Movies (5X rewards).
  • Earn 1 Reward Point for every ₹100 spent on other categories.
  • 5X rewards are capped at 1,000 Reward Points on the mentioned categories per statement cycle. Further spending on these categories will earn Reward Points at the regular rate.
  • Reward program is not applicable on select MCCs and Fuel transactions.
  • UPI transactions are eligible only for core Reward Points and do not qualify for bonus rewards.
• Insurance:
  • Complimentary Personal Accidental Death Cover: ₹15 Lakhs for air accidents and ₹5 Lakhs for non-air accidents.
• Lifestyle Benefits:
  • Add-on Cards: Get up to three lifetime free add-on cards for your spouse, parents, siblings, or kids (above age 18).
  • Interest-Free Credit Facility: Avail up to 50 days of interest-free credit from any purchase date.
  • Revolving Credit Facility: Pay the Minimum Amount Due and finance your spends as per your convenience.
  • Zero Liability on Lost Card: Report the loss of your card immediately to ensure zero liability on any fraudulent transactions.
• EMI Option:
  • Smart EMI: Convert purchases of more than ₹2,500 on your card into easy EMIs with tenures ranging from 6 to 48 months.

Rewards Redemption Guide

• All accumulated reward points can be redeemed as cashback.
• The redemption value is 1 Reward Point = ₹0.25.

Card Eligibility Criteria

• Eligibility Rules:
  • Indian Resident.
  • Age for Primary Cardholder: 21 to 60 years for Salaried individuals, 24 to 65 years for Self-employed individuals.
• Documents Required:
  • Mandatory Proof:
    • Recent Passport size photograph (with clear/white background & without dark/tinted glass).
    • PAN Card.
  • Permanent Address Proof:
    • Aadhaar Card (both sides).
    • Voter ID Card issued by the Election Commission of India.
    • Passport.
    • Driving Licence.
    • Job Card issued by... (details incomplete).
  • Income Proof:
    • For Nainital Bank Staff: Any of the below:
      • Employee ID.
      • Latest Visiting Card with Designation.
      • Latest Salary Slip.
    • For Salaried Individuals:
      • Bank statement reflecting... (details incomplete).

Card Review

The Nainital Bank RENAISSANCE BOBCARD is a solid choice for existing Nainital Bank customers who frequently spend on departmental stores and movies. Its zero joining fee and achievable annual fee waiver make it a cost-effective option. The accelerated rewards on specific categories, coupled with a fuel surcharge waiver and complimentary personal accidental death cover, add significant value. However, the cap on 5X rewards and the exclusion of bonus rewards for UPI transactions might limit its appeal for high spenders or those heavily reliant on UPI. Overall, it's a well-rounded card for everyday use, offering good benefits for its target audience.

Important Product Details

• Zero Joining Fee.
• Annual fee of ₹250, waived on annual spends of ₹25,000.
• 5X Reward Points on Departmental Stores & Movies (capped at 1,000 RP per statement cycle).
• 1% Fuel Surcharge Waiver (max ₹250/month, GST not reversed).
• Complimentary Personal Accidental Death Cover (Air: ₹15 Lakhs, Non-Air: ₹5 Lakhs).
• Reward points can be redeemed as cashback at ₹0.25 per point.
• Up to three lifetime free add-on cards.
• Up to 50 days of interest-free credit.
• No bonus rewards on UPI transactions.

Other Details

• The reward program is not applicable on select Merchant Category Codes (MCCs) and fuel transactions.
• The fuel surcharge rate may vary depending on the fuel station and acquiring bank.
• The value of the fuel transaction on the charge slip may differ from the credit card statement due to the acquiring bank levying the fuel surcharge and GST.
• Arrangements between BOBCARD and cobrand partners may involve sharing of revenue as per agreed terms.
• The application process involves 3 steps: Fill Online Application form, E-sign using Aadhaar, and Verify identity via Video KYC.