Bank of Baroda, along with offering several credit cards excluively for the Indian defense personnel, also issues a card exclusively for the ICAI members. The card is named ICAI BoB Exclusive Credit Card, which is a lifetime free card but has a lot of exciting features. To give a great start to your journey, the card welcomes you with 1,000 bonus Reward Points and free FitPass pro membership. With a reward rate of up to 5 Reward Points on every spend of Rs. 100, the card gives you several options to redeem your earned Reward Points. Other than this, the cardholders get an oppotunity to earn up to 16,000 bonus Reward Points every year on achieving the spend milestone. The benefits of this card are not only restricted to Rewards, but you also get various other privileges, including complimentary lounge access, insurance benefits, fuel surcharge waiver, etc. For detailed information about the ICAI BoB Exclusive Credit card and all its features, keep reading:
- Joining Fee- Nil
- Renewal Fee- Nil
- Best Suited For- Travel | Shopping
- Reward Type- Reward Points
- Welcome Benefits- Get complimentary Fit Pass Pro membership for 6 months and 1,000 bonus Reward Points.
Rewards and Benefits
- Movie & Dining- NA
- Rewards Rate- 1 Reward Point on every spend of Rs. 100 and 5x Reward points on dining, utility bills, and online purchases.
- Reward Redemption- The earned Reward points can be redeemed against various options available at the boB Rewards portal and against cashback also. 1 Reward point = Re. 0.25
- Travel- Get complimentary domestic lounge access every year.
- Golf- NA
- Domestic Lounge Access- Get 3 complimentary domestic lounge access every quarter (12 per year)
- International Lounge Access- NA
- Insurance Benefits- Get an accidental insurance cover worth Rs. 15 lakhs, non-air accident cover worth Rs. 5 lakhs.
- Zero Liability Protection- The cardholders get a zero laibility prorection against a lost/stolen card on reporting the loss of card to the bank in a timely manner.
Fees & Charges
- Spend based Waiver- NA
- Rewards Redemption Fee- Nil
- Foreign Currency Markup- 2% of the total transaction amount
- Interest Rates- 3.49% per month
- Fuel Surcharge- 1% fuel surcharge waiver all fuel purchases between Rs. 400 and Rs. 5,000 (capped at Rs. 250 per statement cycle.
- Cash Advance Charge- 2.5% of the withdrawn amount subject to a minimum of Rs. 300 at domestic ATMs and 3% of the withdrawan amount or Rs. 300 at international ATMs.
- Add-on Card Fee- Nil
Product Details
- Earn 1,000 bonus Reward Points as a welcome benefit.
- Complimentary 6 months Fit pass Pro membership.
- Up to 5 Reward Points on every spend of Rs. 100.
- Complimentary domestic lounge access every year.
- Reduced forex markup fee of 2% only.
- Personal accident covers worth Rs. 15 lakhs.
- Earn 4,000 bonus rewards every quarter on achieving the spend milestone.
- Get a 1% fuel surcharge waiver on all fuel spends.
ICAI BoB Exclusive Credit Card Features and Benefits
Exclusively made for ICAI members, the Bank of Baroda Exclusive Credit Card comes with a number of exciting benefits across different categories, including travel, rewards, insurance, and many more. You get great welcome benefits and a chance to earn up to 16,000 bonus Rewards every year. For detailed features and benefits of this card, refer to the following points:
Welcome Benefits
- You get a complimentary 6-month FitPass Pro membership.
- You get 1,000 bonus Reward Points on activating your credit card within the first 30 days f card issuance.
Milestone Benefits
- You can get 4,000 bonus reward Points every quarter on spending more than your total credit limit in a quarter.
- Get 1,000 bonus Reward Points every month on making at least 5 transactions worth Rs. 1,000 or more in a month.
Travel Benefits
- The cardholders get 12 complimentary domestic lounge access every year with the ICAI BoB Exclusive Credit Card (capped at 3 visits per quarter).
- Moreover, the card has a low forex markup fee of 2% only, which makes it a suitable card for international transactions.
Insurance Benefits
- The cardholders get insurance coverage worth Rs. 15 lakhs against death due to personal air accident.
- You also get an insurance cover worth Rs. 5 lakhs against non-air accident and a Professional Indemnity Insurance Cover worth Rs. 5 lakhs.
Fuel Surcharge Waiver
- You get a 1% fuel surcharge waiver on all fuel transactions between Rs. 400 and Rs. 5,000.
- The maximum waiver per month is capped at Rs. 250.
ICAI Bank of Baroda Exclusive Credit Card Reward Points
The reward rates offered by the ICAI BoB Exclusive Credit Card in different categories are as follows:
- You get 1 Reward Point on every retail spend of Rs. 100.
- You get 5x rewards on all your spends on dining, utility, and online purchases.
- No Reward Points are earned on fuel transactions.
Reward Redemption
- The Reward Points earned using the ICAI Exclusive credit card can be redeemed against various options available at the BoB Rewards portal.
- 1 Reward Point = Re. 0.25.
ICAI BoB Exclusive Credit Card Fees and Charges
Some very important fees and charges associated with the Bank of Baroda Exclusive Credit Card are mentioned below:
- This credit card is lifetime free, i.e, the cardholders don’t need to pay any joining or annual membership fee for it.
- The interest rate on the BoB ICAI Exclusive Credit card is 3.49% per month.
- The foreign currency markup fee on this credit card is 2% of the total conversion amount, which is lower than the fee charged by most of other cards in the market.
- The cash advance fee on this credit card is 2.5% or Rs. 300 at domestic ATMs and 3% or a minimum of Rs. 300 at international ATMs.
ICAI Bank of Baroda Exclusive Credit Card Eligibility Criteria
The eligibility criteria that the applicants need to fulfill in order to get approved for the BoB ICAI Exclusive Credit card are as follows:
- The applicant should be an active ICAI member.
- The supplementary cardholder’s age should be a minimum of 18 years.
- The applicant should have a decent credit score.
- The applicant should be an Indian resident.
Documents Required
The list of documents required to apply for the Bank of Baroda ICAI Exclusive Credit Card is given below:
- Photocopy of PAN Card.
- ICAI Membership Card photocopy.
- Recent Passport sized photograph.
- Latest salary slips/ITR.
- Address proof (such as latest utility bills, Aadhar Card, etc).
How To Apply For The ICAI Bank of Baroda Exclusive Credit Card?
You can apply for the Bank of Baroda ICAI Exclusive Credit Card online as well as offline as oer your mode of comfort. You can apply for it offline by visiting your nearest BoB branch with all the required documents as mentioned above and filling out the physical application form. To apply online for this card, follow the below-mentioned steps:
- Visit Bob Financial’s official website.
- Under the ICAI Exclusive Credit Card, click on ‘Apply Now.’
- Fill in all the required details in the application form.
- Review your application carefully and submit it.
Conclusion
The BoB ICAI Exclusive Card is just a great option for ICAI members as they are getting all the above-mentioned benefits without any membership charges. A lifetime free credit card with such great benefits is not a bad deal at all. Moreover, the card has a low forex markup fee of 2% only, which makes it a suitable card for international transactions. From travel privileges to insurance benefits and many more advantages, the BoB Exclusive Credit Card offers you much more than one expects from a zero annual fee card. So, if you are an eligible individual, you should definitely try to get this card.
