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PM SVANidhi BOBCARD

The PM SVANidhi BOBCARD is a credit card for street vendors under the PM SVANidhi scheme to help them manage their daily business expenses easily. It is issued by the Bank of Baroda, allowing vendors to buy goods, pay bills, and make cashless transactions without needing cash all the time. This card supports small vendors in running their business smoothly, building a credit history, and becoming more financially secure.

The credit card has no joining or renewal fee and offers a credit to the street vendors starting from ₹10,000 to help them grow their business, or in case they need urgent funding for their business.

The user will get EMI options that let them convert purchases of ₹2,500 or more on their card into easy monthly installments, with flexible repayment periods ranging from 6 to 48 months, helping them manage expenses more conveniently and affordably.

PM SVANidhi BOBCARD

( 4.5 / 5 )
PM SVANidhi BOBCARD
  • Joining FeeLifetime Free
  • Annual FeeLifetime Free
  • Best Suited ForBusiness Expenses
  • Reward TypeReward Points

Rewards Rate

1 Reward Point per ₹100 spent on eligible spend

Welcome Benefits

N/A

Movie & Dining

N/A

Rewards Rate

1 Reward Point per ₹100 spent on eligible spend

Reward Redemption

1 RP = ₹0.20

Travel

N/A

Domestic Lounge Access

N/A

International Lounge Access

N/A

Golf

N/A

Insurance Benefits

N/A

  • Spend-Based Waiver

    N/A

    Rewards Redemption Fee

    N/A

    Foreign Currency Markup

    N/A

    Interest Rates

    3.75%

    Fuel Surcharge Waiver

    1%

    Cash Advance Charges

    N/A

    • A credit, especially for street vendors.
    • A lifetime free credit card, no joining or annual fee.
    • The credit limit starts with ₹10,000.
    • No cash withdrawal allowed from any ATMs.

    Pros

    • The credit card has no joining fee and no annual fee.
    • It helps street vendors grow their businesses.
    • Street vendors will earn reward points when they spend on business expenses.

    Cons

    • The credit card is only available to vendors who repaid SVANidhi loans.
    • Vendors can not withdraw money using the credit card.
    • Even though this credit card is for vendors, there is still a high interest rate if they carry a balance.

  • Earn Reward Points and Make UPI Payments

    The PM SVANidhi BOBCARD allows vendors to easily check their statements, track spending, and manage their card through the BOBCARD app without needing to visit the bank. This saves them time and helps them keep better control of their business money.

    They can also earn reward points, where they can earn points on their purchases and can redeem them as cashback. This gives them extra savings on the money they already spend on supplies and other needs. These features make the credit card a useful tool for street vendors. It helps them manage their money more easily and offers some small financial benefits.

    Credit Limit

    The credit limit starts at ₹ 10,000. This limit gives new cardholders a helpful way to manage everyday purchases and short-term needs. It allows users to buy essential items, handle urgent expenses, and develop responsible spending habits without a high initial limit. This entry-level credit line also helps build a positive credit history when used wisely and paid back on time. It is a practical first step toward better financial flexibility and future credit growth.

    How to Apply?

    Step 1: Go to the PM SVANidhi Portal and register for the credit card.

    Step 2: You will receive a link at your registered mobile number or e-mail. Open the link.

    Step 3: Fill out the form from the BOBCARD website.

    Step 4: E-Sign using your Aadhar card and verify your identity using video KYC.

    Bottom Line

    The PM SVANidhi Credit Card is a great initiative for the street vendors. It is a helpful step for street vendors who want an easy and safe way to manage their business money. With no annual fees, a small starting limit, and EMI options, it gives vendors support without putting too much burden on them. It also helps them move toward digital payments and build a good credit record for the future. Overall, it is a simple and useful financial tool that can help small vendors run their business more smoothly and grow with confidence.

    FAQs:

    This credit card is available only to street vendors who have taken and successfully repaid a loan under the PM SVANidhi scheme.

    No, the PM SVANidhi BOBCARD is lifetime free. There are no joining or annual charges.

    The card usually starts with a credit limit of ₹10,000, which may increase based on repayment behaviour and usage.

    Yes, you earn 1 reward point for every ₹100 spent on eligible transactions. Each reward point is worth ₹0.20 when redeemed.

    No, cash withdrawal is not allowed on this card. It is meant only for business purchases and digital payments.

    1 comment

    • SHAIK ISLAM BASHA

      3 months ago Reply

      I want PM savindhi credit card

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