BOI RuPay Swadhan Platinum Credit Card
- Updated On: 15 January, 2026
For many people, getting a credit card is not always easy, especially if they have no strong credit history. This is where secured credit cards step in. The BOI RuPay Swadhan Platinum Credit Card is Bank of India’s answer for customers who want to build or strengthen their credit profile without paying annual fees or worrying about rejection due to a low credit score.
Issued against a fixed deposit, this card focuses on simplicity and affordability, as well as controlled credit usage, making it suitable for first-time users.
BOI RuPay Swadhan Platinum Credit Card
( 4.3 / 5 )
- Joining Fee
- Annual Fee
- Best Suited For
- Reward Type
Rewards Rate
2X reward points on POS and E-Commerce Transactions
Welcome Benefits
100 points, one-time incentive, with a minimum spend threshold of ₹3,000 within 30 days of card Issuance.
Rewards and Benefits
Movie & Dining
N/A
Rewards Rate
2X reward points on POS and E-Commerce Transactions
Reward Redemption
2 Star Points on every ₹100 for regular spends. 3-star points on preferred categories.
Travel
N/A
Domestic Lounge Access
N/A
International Lounge Access
N/A
Golf
N/A
Insurance Benefits
N/A
Fees & Charges
Spend-Based Waiver
Nil
Rewards Redemption Fee
N/A
Foreign Currency Markup
3% Currency conversion charges on all foreign currency transactions, including international POS, online spends, and ATM Withdrawls.
Interest Rates
Secured Credit Card (Swadhan) – 1.20% Per month (15.40% per annum) on daily balances. In Case of default, 1.70% per month (22.45% Per Annum)
Fuel Surcharge Waiver
1% of the transaction amount or actual charges applied by the merchant’s bank, whichever is higher.
Cash Advance Charges
On BOI ATMs, 2% of the transaction amount (minimum ₹50)
Product Details
- This is a secured card and will only be issued against the Fixed Deposit.
- It’s a Lifetime Free Credit Card
- Cash limit is 50% of the total spending limit
- The daily cash withdrawal limit is ₹15,000
- Add-on cards can be issued on this secured credit card.
Pros/Cons
Pros
- This card is free for life with no joining or renewal fees. Moreover, this card is secured and issued against a TDR or fixed deposit, making it relatively easy for individuals with a low CIBIL Score or a poor credit history. Any individual who has proof of income as an employee or self-employed person can apply for this card.
- This Card also offers lower interest rates than other secured credit cards. The simple reason for this is that, while unsecured credit cards rely on credit history, this credit card relies on collateral; the bank can simply cover the remaining dues from the pledged deposit.
Cons
- Having a fixed deposit as collateral for the Card offers a low interest rate. However, it must be kept in mind that using it as collateral is also a disadvantage for maintaining liquidity, as funds cannot be withdrawn in an emergency until the credit card account is closed.
- The benefits of this card are limited. Even though the risk factor in case of a default is that the bank will liquidate your FD, it doesn’t have the premium benefits that it should.
Rewards And Benefits
The BOI Rupay swadhan Platinum Credit card allows Cardholders to earn points on eligible retail purchases. For instance, customers will get 2X reward points in POS and ECOM Transactions. While the bank does not specify category-based reward points for this card, points earned can be redeemed through the Bank of India reward redemption platform, the BOI Star Rewardz Website.
Redemption option will depend on the bank’s reward catalogue and may include vouchers, merchandise, or other offerings available during the time of point redemption.
This card does not offer specialised benefits such as movie ticket discounts, dining offers, golf privileges, or complimentary lounge access. Any lounge usage, domestic or international, is chargeable and governed by Rupay.
Fees & Charges
When it comes to fees, the BOI RuPay Swadhan Platinum credit card keeps things simple. This is a lifetime-free card, making it a cost-effective option for long-term use.
Since this is a secured credit card, the interest rate is lower than that of unsecured credit cards. Charges are 1.20% per month. In case of default, the interest rate increases to 1.70% pre month.
Cash withdrawals are allowed, but they come with charges. Within the BOI ATMs, the charge is a 2% fee (minimum ₹50), while other domestic ATMs charge 2.5% (minimum ₹75).
The cash withdrawal limit is capped at 50% of the total spending limit, witha limit of ₹15,000.
For international transactions, a 3% Forex Currency Markup is applicable. Fuel transactions have a surcharge of 1% or the actual charge claimed by the merchant’s bank.
Eligibility Criteria
- Individual, Staff/non-staff, private limited company, partnership firms, public limited company. However, there is no specific mention of the age of individuals who can apply for this credit card.
- The customer should have a steady source of income, verifiable through Income Tax Returns and salary slips of 3 consecutive months.
Bottom Line
The BOI Swadhan Platinum Credit Card is best suited for individuals who already have a fixed deposit with Bank of India and want a no-frills card. It is specifically helpful for first-time credit card users, students transitioning into salaried roles, or people rebuilding their credit card history.
It won’t offer flashy rewards, but it does deliver on its promise: a reliable, lifetime-free secured credit card with reasonable interest rates and essential features, including UPI Integration for daily spending and payments.
FAQs:
Is the BOI RuPay Swadhan Platinum Credit Card a lifetime free card?
Yes, this card is a lifetime free credit card. There is no joining fee, no annual or renewal fee, and no replacement card charge, as long as the card remains active and complies with all the bank’s rules.
Do I need a fixed deposit to get this credit card?
Yes, this is a secured credit card and is issued only against the Term Deposit receipt. The fixed deposit acts as collateral, and the credit limit is linked to the deposit amount.
How can reward Points be redeemed on this card?
Reward points earned on eligible spend can be redeemed through Bank of India’s reward redemption platform, subject to the bank’s reward catalog. If you run low on points while redeeming, then the remaining balance would be debited from the cardholder’s account.
Is this Credit Card suitable for international usage?
Yes, this credit card is enabled for both domestic and international usage. A 3% foreign-currency markup applies to international transactions.