The Bank of Baroda Swavlamban Credit Card is an entry-level card offered by the bank. It comes with an annual fee of Rs. 250, which you can easily get waived off by using your credit card regularly and achieving the required annual spend. A very special thing about this credit card is that cardholders can use up to 105% of their credit limit without any over-limit charges. Generally, all credit cards charge an over-limit fee even if you spend a single penny above your credit limit, but this is not the case with this card. Talking about its reward rate and other benefits, it offers a decent reward rate of 1% across all the categories and the cardholders can redeem their earned rewards against their card’s outstanding balance. Other features of the card include insurance against accidental death, fuel surcharge waiver, zero liability protection, etc. For detailed information about the BoB Swavlamban Credit Card, its features, and fees & charges, keep reading:
- Joining Fee- Nil
Rs. 250 (for non-delinquent cardmembers) - Renewal Fee- Nil
Rs. 250 (for non-delinquent cardmembers) - Best Suited For– Shopping
- Reward Type- Reward Points
- Welcome Benefits- NA
Rewards and Benefits
- Movie & Dining- NA
- Rewards Rate- 1 Reward Point on every retail spend of Rs. 100.
- Reward Redemption- The Reward Points earned using this credit card can be redeemed against cashback at a rate of 1 Reward Point = Re. 0.25.
- Travel- NA
- Golf- NA
- Domestic Lounge Access- NA
- International Lounge Access- NA
- Insurance Benefits- The cardholders get an insurance coverage against personal accidental death.
- Zero Liability Protection- The cardholders won’t be liable for fraudulent transactions against a lost/stolen card if the loss is reported to the bank in a timely manner. NA
Fees & Charges
- Spend based Waiver- The joining fee (if applicable) would be waived off on spending Rs. 2,500 within 60 days, and the annual fee (if applicable) would be waived off on spending Rs. 12,000 in the previous year.
- Rewards Redemption Fee- Nil
- Foreign Currency Markup- 3.5% of the transaction amount
- Interest Rates- 3.49% per month
- Fuel Surcharge- 1% fuel surcharge waiver on all fuel transactions between Rs. 400 and Rs. 5,000. The maximum waiver is capped at Rs. 250.
- Cash Advance Charge- 2.5% of the withdrawal amount subject to a minimum of Rs. 500.
- Add-on Card Fee- Nil
Product Details
- Lifetime-free credit card.
- 4 Reward Points on every spend of Rs. 100.
- Use up to 105% of your credit limit.
- 1% fuel surcharge waiver on all fuel purchases.
- Insurance cover against accidental personal death.
- Zero liability protection against lost/stolen card.
BoB Swavlamban Credit Card Features and Benefits
The Bank of Baroda Swavlamban Credit Card is a basic credit card issued by BoB Financial. One can easily make it lifetime free for themselves by achieving a nominal annual spend. What makes this card unique is that the cardholder can spend beyond their credit limit without any additional charges. All its benefits and features are given below in detail:
Spend Up to 105% Of Your Credit Limit
Almost all credit cards charge an over-limit fee even if you spend a very small amount beyond your credit limit. But, with the Swavlamban Credit Card, you can spend up to 105% of your credit limit without any over-limit charges. After crossing 105% of the credit limit, an over-limit fee of 2.5% of the over amount (subject to a minimum fee of Rs. 600) will be chargeable. However, it is not a good idea to spend beyond your credit limit, but this card can be really beneficial for you in emergency situations.
Insurance Benefits
The BoB Swavlamban Credit Cardholders get insurance coverage against personal accidental death. Moreover, card liability protection is also offered in case of unauthorized transactions made through your credit card.
Fuel Surcharge Waiver
The cardholders get a 1% fuel surcharge waiver on all fuel spends between Rs. 400 and Rs. 5,000. The maximum waiver is capped at Rs. 250 every statement cycle.
Spend-Based Waiver
- The joining fee of Rs. 250 is waived if the cardholder has spent Rs. 2,500 or more within the first 60 days from the card issuance.
- The renewal fee of Rs. 250 is waived if the cardholder has spent Rs. 12,000 or more in the previous anniversary year.
Bank of Baroda Swavlamban Credit Card Rewards
The reward rate offered with this credit card is as follows:
- The cardholders get 4 Reward Points on every spend of Rs. 100.
- The maximum Reward Points that a cardholder can earn in a statement cycle are capped at 800 RPs.
- No Reward Points are earned on fuel transactions.
Reward Redemption
The Reward Points earned with the BoB Swavlamban Credit Card can be redeemed as follows:
- The Reward Points can be redeemed against cashback via internet banking, Here, 1 RP = Re. 0.25.
- You can also redeem the Reward Points against the BoB Rewards catalog.
Bank of Baroda Swavlamban Credit Card Fees and Charges
Some very important fees and charges associated with the BoB Swavlamban Credit card are mentioned below:
- It is a lifetime free credit card, however, there is an annual fee of Rs. 2,500 for non-delinquent credit cardholders. So, you can easily get your annual fee waived off by using your card regularly.
- The interest rate on the BoB Swavlamban Credit Card is 3.49% per month.
- The foreign currency markup fee on this credit card is 3.5% of the amount spent in a foreign currency.
- The cash advance fee on this credit card is 2.5% of the cash amount subject to a minimum of Rs. 500.
BoB Swavlamban Credit Card Eligibility Criteria
The eligibility requirements that one needs to fulfill in order to get approved for the Bank of Baroda Swavlamban Credit Card are as follows:
- The primary card applicant’s age should be a minimum of 21 years and that of the supplementary card applicant should be 18 years or above.
- The applicant should have a stable source of income.
- The applicant should possess a decent credit history.
Documentation
The documents you need to submit while applying for the BoB Swavlamban Credit card are listed below:
- You will need identity proof like Aadhar Card, Voter’s Card, PAN Card, Passport, Driving License, etc.
- You will also need to submit an address proof, such as utility bills, Aadhar Card, rent agreement, ration card, or Passport.
- As an income proof, you can either submit your latest salary slip, or the latest audited ITR.
How To Apply For The BoB Swavlamban Credit Card?
You can apply for the Bank of Baroda Swavlamban Credit Card online as well as offline at your convenience. For the offline application process, you can visit your nearest BoB branch with all the above-mentioned documents and ask for the physical application form. Fill that out carefully and submit it at the branch. you can also apply online via Bob Financial’s official website as follows:
- Step 1: Visit the page www.bobfinancial.com/prime.jsp
- Step 2: Select the Bank Of Baroda Swavlamban credit card
- Step 3: Click on the option “Apply Now”
- Step 4: Fill in all the necessary details in the digital application form.
- Step 5: Complete all the required formalities and proceed further.
Conclusion
The Bank of Baroda Swavlamban Credit Card is a great option to start your credit journey if you haven’t started it yet. With a decent reward rate and several other advantages, it is just a great lifetime free credit card that you might be looking for. If you get this credit card, just make sure that you use it regularly so that you can avoid the joining and annual fee for a lifetime. Moreover, the card is providing you with an option to spend beyond your credit limit, but doing this is not a good idea until it’s a real emergency. Spending beyond your limit may affect your credit score badly, so try avoiding that.
