Nainital RENAISSANCE BOBCARD Credit Card – Benefits, Fees & Eligibility

Nainital Bank Renaissance Bobcard

Introduction

The Nainital Bank Renaissance Bobcard is a credit card specifically designed for customers of Nainital Bank, offering a rewarding experience for everyday purchases. It focuses on providing value through accelerated shopping rewards, particularly for departmental store and movie spends, along with essential benefits like fuel surcharge waivers and complimentary insurance. With a zero joining fee and an easily waivable annual fee, the card aims to enhance lifestyle and provide financial flexibility, allowing for digital application through a simple 3-step process.

Welcome Benefits

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

Fees

• Joining Fee: Zero
• Annual Fee: ₹250
• Spend-Based Waiver: The annual fee of ₹250 can be reversed by spending ₹25,000 annually.
  • This annual fee waiver is applicable only to non-delinquent credit cardholders, even if the spend criteria is fulfilled.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver at all fuel stations across India on transactions between ₹400 and ₹5,000.
  • Maximum waiver is ₹250 per statement cycle.
  • The GST component is not reversed.
  • The fuel surcharge rate may vary depending on the fuel station and acquiring bank.
  • The value of the fuel transaction on the charge slip will differ from the credit card statement due to the acquiring bank levying the fuel surcharge and GST.
• Interest Rates: Avail up to 50 days of interest-free credit from any purchase date.
• Smart EMI Option: Convert purchases of more than ₹2,500 on your card into easy EMIs of 6 to 48 months.

Rewards

• Everyday Shopping Rewards: Earn 5 Reward Points for every ₹100 spent on Departmental Stores & Movies.
  • These 5X rewards are capped at 1,000 Reward Points on the mentioned categories per statement cycle.
  • Further spending on these categories within the same statement cycle will earn Reward Points at the regular rate.
  • The reward program is not applicable on select Merchant Category Codes (MCCs) and fuel transactions.
• Other Spends: Earn 1 Reward Point for every ₹100 spent on other categories.
• Fuel Transactions: No Reward Points are earned on fuel transactions.
• UPI Transactions: UPI transactions are eligible only for core Reward Points and do not qualify for bonus rewards.
• Insurance: Complimentary Personal Accidental Death Cover for financial protection.
  • Air Accidental Death Cover: ₹15 Lakhs
  • Non-Air Accidental Death Cover: ₹5 Lakhs

Rewards Redemption Guide

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

Card Eligibility Criteria

Eligibility Rules

• Indian Resident
• Age:
  • For Salaried individuals: 21 to 60 years (Primary Cardholder)
  • For Self-employed individuals: 24 to 65 years (Primary Cardholder)

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 election commission of India
  • Passport
  • Driving Licence
  • Job Card issued by...
• Income Proof:
  • For Staff: Any of the below:
    • Employee ID
    • Latest Visiting Card with Designation
    • Latest Salary Slip
  • For Salaried individuals:
    • Bank statement reflecting...

Card Review

The Nainital Bank Renaissance Bobcard is a well-suited option for Nainital Bank customers seeking a rewarding card for their daily spending, particularly for shopping at departmental stores and movie outings. Its standout features include a competitive 5X reward rate on these categories, which, despite having a monthly cap, can add significant value for regular users. The card offers a zero joining fee and an annual fee that is easily waivable with a moderate annual spend of ₹25,000, making it cost-effective. Complimentary personal accidental death insurance and a 1% fuel surcharge waiver add practical benefits. The option to convert large purchases into EMIs and an interest-free credit period further enhance its utility. However, users should note that UPI transactions only earn core rewards, and fuel transactions do not earn any reward points. Overall, it's a valuable card for individuals looking for straightforward rewards on common expenses with essential added perks.

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 Reward Points per statement cycle).
• 1 Reward Point for every ₹100 spent on other categories.
• 1% Fuel Surcharge Waiver on transactions between ₹400 and ₹5,000 (Max. ₹250 per statement cycle).
• Complimentary Personal Accidental Death Cover (Air: ₹15 Lakhs, Non-Air: ₹5 Lakhs).
• Up to 50 days of interest-free credit facility.
• Smart EMI option for purchases over ₹2,500 (6 to 48 months).
• Provision for up to three lifetime free add-on cards.
• Zero liability protection on lost cards upon immediate reporting.
• Reward points can be redeemed as cashback at 1 Reward Point = ₹0.25.
• No Reward Points on fuel transactions.
• UPI transactions do not qualify for bonus rewards, only core Reward Points.

Other Details

• Free Add-on Card: Get up to three lifetime free add-on cards for your spouse, parents, siblings, or kids (above 18 years of age).
• Interest-Free Credit Facility: Avail up to 50 days of interest-free credit from any purchase date.
• Revolving Credit Facility: Pay 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.
• Digital Application Process: Apply digitally in 3 simple steps: Fill Online Application form, E-sign using Aadhaar, Verify your identity via Video KYC.
• Co-brand Partner Arrangements: The arrangements between BOBCARD and co-brand partners may involve sharing of revenue between BOBCARD and the respective co-brand partner as per agreed terms.