Along with the business cards like BoB ConQr, BoB Corporate Card, etc, Bank of Baroda also offers the Empower Credit Card, which aims at fulfilling the credit requirements of businesses along with providing them with various benefits across different categories. It comes with a zero joining fee and an affordable annual fee of Rs. 250 only, which too can be waived very easily. The cardholders get a decent reward rate and the accumulated rewards can be redeemed against the card’s outstanding balance at a really good redemption rate. Other than this, you get complimentary insurance covers, a fuel surcharge waiver, spend-based waiver of the annual fee, and many more benefits. Talking about the convenience provided by this card, it allows you to track all the spends made by your employees on their respective Empower cards and the bill settlement is also made easy. For more detailed information about the BoB Empower Credit Card, its features, and fees & charges, keep reading:
BoB Empower Credit Card
Best Suited For
Movie & Dining
1 Reward Point on every Rs. 100 you spend
1 RP = Re. 0.25 for redemption against cashabck
Domestic Lounge Access
International Lounge Access
Air accident cover worth Rs. 15 lakhs and non-air accident cover wrth Rs. 5 lakhs
Zero Liability Protection
Zero liability protection against a lost card on reporting the loss to the bank timely.
Spend Based Waiver
Renewal fee waived on spending Rs. 50,000 or more in the previous year.
Rewards Redemption Fee
Rewards Redemption Fee
Foreign Currency Markup
3.5% of the total transaction amount.
3.49% per month.
1% fuel surcharge waiver on all fuel purchase (up to Rs. 250 per month)
Cash Advance Charges
2.5% of the withdrawn amount or a minimum fee of Rs. 300
Add-on Card Fee
- No joining fee.
- 1 Reward Point on every spend of Rs. 100.
- Reward Points are redeemable against cashback.
- Accidental death cover worth up to Rs. 15 lakhs.
- 1% fuel surcharge waiver on all fuel spends.
- Spend-based waiver of the annual membership fee.
Bank of Baroda Empower Credit Card Features and Benefits
The Empower Credit Card issued by BoB Financial is a great business card that provides customers with various benefits along with fulfilling their credit requirements. From a decent reward rate to insurance benefits and other privileges, all the benefits and features of this card are given below in detail:
The Bank of Baroda Empower Credit Card also offers some insurance benefits, which are as follows:
- The Cardholders get an air accidental death cover worth Rs. 15 lakhs.
- the cardholders also get a non-air accidental death cover worth Rs.5 lakhs.
Spend Based Waiver
The annual fee of Rs. 250 is waived if you spend Rs. 50,000 or more in the previous anniversary year using your Empower Credit Card. So, one can easily make their card lifetime free by achieving this nominal annual spend.
Fuel Surcharge Waiver
- The cardholders also get a 1% fuel surcharge waiver on all their fuel transactions between Rs. 400 and Rs. 5,000.
- The maximum waiver is capped at Rs. 250 per month cycle for this credit card.
Easy Tracking of Spends and Bill Settlement
- The owners can easily track all the spends made by their employees using the BoB Empower Card.
- All the credit cards are billed on the same day and hence it becomes easier for you to clear the bills.
Bank of Baroda Empower Credit Card Reward Points
The reward rates offered by the BoB Empower Credit Card in different categories are as mentioned below:
- The cardholders get 1 Reward point on every retail spend of Rs. 100.
- No Reward Points are accumulated on fuel transactions.
- The Reward points that you earn using the Empower Credit Card can be redeemed against different options available at the BoB Rewards portal.
- The RPs can also be redeemed against cashback at a rate of 1 RP = Re. 0.25.
BoB Empower Credit Card Fees and Charges
Some of the very important fees and charges associated with the BoB Empower Credit Card are mentioned below:
- There is no joining fee associated with this card, however, there is an annual fee of Rs. 250, which is waived on spending Rs. 50,000 or more in the previous year.
- The interest rate on the BoB Empower Credit Card is 3.49% per month.
- The cash advance fee on this credit card is 2.5% of the withdrawn amount or a minimum of Rs. 300 at the domestic ATMs and that at international ATMs is 3% subject to a minimum fee of Rs. 300.
- The foreign currency markup fee on the Empower Credit Card is 3.5% of the total conversion amount.
BoB Empower Credit Card Eligibility Criteria
The eligibility criteria that you one has to fulfill in order to get approved for the Bank of Baroda Empower Credit Card are listed below:
- The age of the cardholders should lie between 21 years and 65 years.
- The applicant should be an Indian resident.
- The minimum required income for BoB customers is 2.4 lakhs per annum.
- The minimum required income for non-BoB customers is 4.8 lakhs per annum.
The list of documents required to apply for the Bank of Baroda Empower Credit Card is given below:
- GSTIN registration proof.
- PAN Cards of the individual cardholders.
- Latest GST returns.
- Business address proof.
- Colored photograph of the applicant
How To Apply For The Bank of Baroda Empower Credit Card?
You can apply for the Bank of Baroda Empower Credit Card online or offline as per your comfort. Bank of Baroda provides you with different online/offline ways to apply for this card. To apply offline, just visit your nearest BoB branch with all the above-mentioned documents and fill out the physical application form at the branch. You can also apply online for this card as follows:
- Visit BoB Financial’s official website.
- Under the Empower Credit Card, click on the option ‘Apply Now.’
- Start the application process by filling in the required details.
- Complete the application form carefully and submit it.
The Empower Credit Card issued by BoB can be considered a great option for those who have a small business or who have just started a business and want a credit card for their basic credit requirements. Along with offering several exciting privileges across different categories, the Empower Card also makes it convenient for you to track all the card’s spend and make the bill payment all at once. However, BoB also offers other business cards like the BoB Corporate Card, but that requires slightly strict eligibility criteria to be fulfilled. You can also check that out and go with a card that seems to suit you the best.
No, the BoB Empower Credit Card is not lifetime free. It comes with a zero joining fee, but there is an annual fee of Rs. 250.
The income requirements for the BoB Empower Card are as follows:
– for BoB customers: minimum 2.4 lakhs per annum
– for non-customer: Minimum 4.8 lakhs per annum.
The interest rate on this credit card is 3.49% per month.