BOBCARD VIKRAM - Why is it best credit card for Defence Personnel?
23 Dec 2024 6 mins Credit Cards
BOBCARD VIKRAM: A Comprehensive Guide to the Ultimate Credit Card for Defence Personnel
When it comes to offering exclusive financial benefits to our nation’s defense personnel, the BOB Vikram Credit Card stands out. Tailored specifically to suit the unique requirements of defense personnel, this card is packed with rewards, low charges, and high-value benefits. In this article, we’ll delve into everything you need to know, from BOB Vikram Credit Card benefits to its application process and charges.
Why Choose the BOB Vikram Credit Card?
The BOB Vikram Credit Card is more than just a payment tool; it’s a financial companion that rewards you for every transaction while providing essential features like insurance cover, zero liability on lost cards, and contactless payments.
Key Features of BOB Vikram Credit Card
1. Welcome Gifts
Kick off your journey with exciting perks:
A complimentary Disney+ Hotstar subscription for three months upon your first transaction within 30 days of issuance.
Earn 500 reward points when you spend ₹25,000 within the first 60 days.
2. BOBCARD Vikram Credit Card Benefits
The card offers exceptional benefits, including:
5X rewards on purchases in categories like movies and departmental stores.
1 reward point per ₹100 spent on other categories.
Fuel surcharge waiver of 1% for eligible transactions between ₹400 and ₹5,000, saving you up to ₹250 per statement cycle.
Low service charge of 3.49% and an international markup fee of just 3%, making it a cost-effective choice for frequent travelers.
3. Free Add-On Cards
You can get up to three lifetime free add-on cards for your immediate family members, including your spouse, parents, siblings, or children above 18 years. Share the benefits without any extra costs!
4. Smart EMI Conversion
Convert purchases above ₹2,500 into affordable EMIs with flexible tenure options ranging from 6 to 36 months. It’s a smart way to manage big expenses without straining your budget.
5. Robust Insurance Cover
With the BOB Vikram Credit Card, you are covered with free personal accidental death insurance of up to ₹20,00,000. This ensures financial protection for your family in case of unforeseen events.
BOB Vikram Credit Card Charges
Understanding the charges is crucial for evaluating a credit card. The BOB Vikram Credit Card charges are designed to be affordable and transparent:
Annual Fee: ₹500 (waived off upon achieving a specified spending threshold).
Late Payment Fees: Ranges from ₹0 to ₹1,300 depending on the outstanding amount.
Cash Advance Fee: 2.5% of the amount withdrawn or ₹300, whichever is higher.
Overlimit Fee: 2.5% of the overlimit amount, subject to a minimum of ₹500.
With these low charges, the BOB Vikram Credit Card annual fee is easily justified, considering the extensive benefits.
BOB Vikram Credit Card Eligibility
Criteria | Details |
Primary Cardholder Age | Must be between 18–60 years of age. |
Add-On Cardholders Age | Must be above 18 years of age. |
Target Group | Defense personnel and select police personnel from Telangana and Madhya Pradesh. |
To apply for this card, applicants must meet the following BOB Vikram Credit Card eligibility criteria:
Primary Cardholder: Must be between 18–60 years of age.
Add-On Cardholders: Must be above 18 years of age.
Target Group: Defense personnel and select police personnel from Telangana and Madhya Pradesh.
How to Apply for a BOB Vikram Credit Card?
The application process for the BOB Vikram Credit Card is simple and hassle-free. Follow these steps to BOB Vikram Credit Card apply quickly:
Step 1: Check Eligibility
Ensure you meet the criteria for defense personnel or police personnel and the age requirements.
Step 2: Gather Required Documents
A recent passport-sized photograph.
PAN card.
Address proof (Aadhaar card, Voter ID, passport, etc.).
Step 3: Submit the Application
Visit the nearest Bank of Baroda branch or apply online through the official website. Provide the necessary documents and complete the process effortlessly.
How Reward Points Work
One of the standout features of the BOB Vikram Credit Card benefits is its robust reward program.
Earn 5X reward points for spending on movies and at departmental stores.
Redeem your reward points for cashback at a rate of 1 point = ₹0.25.
This feature ensures you’re not just spending money but also earning value in return.
Secure and Contactless Payments
The BOB Vikram Credit Card is equipped with contactless payment technology. This means you can make payments by simply tapping your card on compatible terminals. It’s fast, secure, and convenient, reducing the need for swiping or entering your PIN for small transactions.
Zero Liability on Lost Cards
Misplacing your card can be stressful, but with the BOB Vikram Credit Card, you’re protected. Report the loss immediately, and the bank ensures zero liability on fraudulent transactions, giving you peace of mind.
Value for Money
With its low charges, high rewards, and comprehensive benefits, the BOB Vikram Credit Card annual fee of ₹500 is an investment that pays off quickly. From fuel savings to shopping rewards, this card is designed to maximize value for every transaction.
Conclusion
The BOB Vikram Credit Card is a financial tool tailored for defense personnel, offering unparalleled benefits, low charges, an
d robust security features. Whether it’s earning rewards, managing expenses through EMIs, or enjoying interest-free credit, this card delivers exceptional value. Its simple application process and affordable fees make it an ideal choice for our heroes in uniform.
FAQs
What are the charges for the BOB Vikram Credit Card?
The BOB Vikram Credit Card charges include an annual fee of ₹500, late payment fees, and cash advance fees, all designed to be reasonable.
Who is eligible to apply for the BOB Vikram Credit Card?
Defense personnel and select police personnel aged 18–60 years are eligible for the card. Add-on cardholders must be above 18 years.
What are the benefits of the BOB Vikram Credit Card?
Key BOB Vikram Credit Card benefits include 5X rewards, fuel surcharge waivers, low charges, and free add-on cards.
How can I apply for the BOB Vikram Credit Card?
Visit the Bank of Baroda website or branch to complete the BOB Vikram Credit Card apply process.
Is the BOB Vikram Credit Card annual fee worth it?
Yes, the BOB Vikram Credit Card annual fee is easily outweighed by its rewards and benefits, offering excellent value for money.
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Author - Abhishek Sonawane
Abhishek Sonawane, an MBA graduate from the prestigious Indian Institute of Management Visakhapatnam (IIMV), brings over ten years of experience in the finance domain. His extensive background includes various roles in financial management and strategy, providing him with a comprehensive understanding of the financial landscape. Abhishek’s expertise and dedication to financial education make him an authoritative voice in personal finance, helping readers make informed financial decisions.