Bank of Baroda Swavlamban Credit 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 by achieving nominal annual spending. 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 emergencies.

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 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. 250 for non-delinquent credit cardholders. However, you can easily waive your annual fee 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 the supplementary card applicant should be 18 years or older.
• 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, such as an Aadhar Card, Voter’s Card, PAN Card, Passport, or Driving License.
• You will also need to submit address proof, such as utility bills, Aadhar Cards, rent agreements, ration cards, or Passports.
• As proof of income, you can 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 or 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: Click on the option “Apply Now”
• Step 2: Fill in all the necessary details in the digital application form.
• Step 3: Complete all the required formalities and proceed further.

Also Check: BoB Premier Credit Card 

Bottom Line

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 provides 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.