Bank of Baroda PRIME Credit Card is a secured card (issued against fixed deposit), and a lifetime free credit card, hence it is a great choice for those who value a free card, and those who are just starting their credit card journey.
Secured cards are cards issued against a fixed deposit, and a great choice for those who do have a good credit history, like students, first jobbers, homemakers, senior citizens, travellers, and self-employed individuals. Lifetime free cards are a good choice for those who do not want to evaluate in depth whether the annual fee of the credit card justifies the rewards associated with the card.
In this review, we will go through the different elements of the Bank of Baroda PRIME Credit Card in-depth – from cost and fees details to rewards points and special offers; to determine whether it would be a good fit for your credit card needs.
Brief Summary
Our View :
Very good card for building credit history. No income proof required since the card is issued against a fixed deposit.
It is also lifetime free.
Bank of Baroda PRIME Credit Card
Special Benefits
Lifetime free card
Other Benefits
Fuel surcharge waiver
Minimum Income
No income proof required, since issued against fixed deposit
Annual Fee
Zero
Annual Fee Offers
–
Bank of Baroda PRIME Credit Card : Summary Table
| Guaranteed approval card against fixed deposit – no income proof required | Minimum fixed deposit amount – ₹15,000 |
| Lifetime free card – zero annual fee | No annual fee on your card |
| 0.50% benefit on all spends | You earn 2 reward points worth ₹0.50, on every ₹100 you spend on all other purchases (since 1 reward point = ₹0.25). Except below 2 categories : 1. Fuel : You earn no reward points 2. Spend Categories like rent, education, utilities, government, insurance, charity, supermarket : You earn 1 reward points worth 25 paise, on every ₹100 you spend. For full list and details please click here – list of special MCCs |
| Fuel surcharge waiver | You get a 1% fuel surcharge waiver , at all fuel stations across India : – Only on fuel transactions between ₹400 and ₹5,000 AND – Only on maximum fuel purchases of ₹25,000 per month (since the waiver amount is capped at ₹250 per monthly card statement cycle) |
| 3 free add-on cards | You get up to 3 lifetime free add-on cards for your spouse, parents, siblings or kids (above age 18) |
Pros and Cons of Bank of Baroda PRIME Credit Card
Pros
- This card is ideal for individuals who may not have regular income AND/OR for those who do not have a good credit history – like students, first jobbers, homemakers, gig economy workers, senior citizens, travellers, and self-employed individuals. Hence it is a good starter card for beginners who are starting or rebuilding their credit journey.
- Credit card is lifetime free
Cons
- Low reward rate of 0.50%
Full Review of the Bank of Baroda PRIME Credit Card
Features & Benefits of the Bank of Baroda PRIME Credit Card
0.50% benefit on all credit card spends
Earning reward points : You earn 2 reward points on every ₹100 you spend = ₹0.50 on every ₹100 you spend (since 1 reward point = ₹0.25 or 25 paise). Except below 2 categories –
1. Fuel : You earn no reward points
2. Spend categories like rent, education, utilities, government, insurance, charity, supermarket : You earn 1 reward point worth 25 paise, on every ₹100 you spend i.e. 0.25% benefit. For full list and details please click here – list of special MCCs
Redeeming reward points : You can easily redeem your points for cashback, online OR through BOB Financial helpline. 1 reward point = ₹0.25 or 25 paise. This cashback is paid into your monthly credit card statement.
Limits on benefits : There are no monthly spend limits , on earning reward points in this category.
Other important information : Reward points are valid for 2 years.
1% fuel surcharge
Applicable fuel stations and brands : Fuel surcharge waiver applies to all petrol stations.
Restrictions : Fuel surcharge waiver in applicable –
– Only on fuel transactions between ₹400 and ₹5,000 AND
– Only on maximum fuel purchases of ₹25,000 per month (since the waiver amount is capped at ₹250 per monthly card statement cycle)
3 free add-on cards
Bank of Baroda PRIME Credit Card offers the convenience of add-on cards, allowing you to extend the benefits of your card to your loved ones :
– Lifetime free add-on cards : You can avail of up to 3-lifetime free add-on cards for your spouse, parents, siblings, or children. This enables your family members to enjoy the features and privileges of the Eterna Credit Card.
– Shared benefits : With add-on cards, you can easily manage and track the expenses of your family members. Additionally, any reward points earned on the add-on cards contribute to the primary cardholder’s rewards account.
Bank of Baroda PRIME Credit Card Fees and Charges
Annual fee
| Annual fee | Annual fee offers | |
|---|---|---|
| 1st year joining fee | ₹0 | – |
| Renewal fee from 2nd year onwards | ₹0 | – |
Late payment fee
| Total payment amount due | Late fee |
|---|---|
| Less than ₹100 | Zero |
| ₹100 to ₹500 | ₹100 |
| ₹501 to ₹1,000 | ₹400 |
| ₹1,001 to ₹10,000 | ₹750 |
| ₹10,001 – ₹25,000 | ₹950 |
| ₹25,001 – ₹50,000 | ₹1100 |
| More than ₹50,000 | ₹1300 |
Finance charges – 3.50% per month
Foreign transaction fee – 3.50%
Important Note
– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – Bank of Baroda PRIME Credit Card Fees & Charges
Eligibility Criteria
| Minimum age | 21 years (minimum age for add-on cards is 18 years) |
| Maximum age | 65 years |
| Occupation | Salaried , self-employed |
| Minimum income requirements | Not required, since the card is issued against a fixed deposit |
Application Process & Tracking Your Application Status
Step-by-step guide
| Online application process | The easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the BOB Financial website. You can also visit official website of BOB Financial and fill out the application form. You can apply online in 3 simple steps : – Complete the e-application – Aadhaar based e-signature – Confirm your application with a video KYC |
| Offline (face to face) application process | You can also visit any of the nearest branches of the bank and talk to an executive regarding the process. |
| Approval timeline and process | The credit card decision would be generally communicated within within a maximum of 21 working days in most cases. In certain cases, it could take longer, especially if the bank wants more information and/or documents from you. |
| Application tracking | You can also track your application here. |
Necessary documents and verification
| Required documents | – PAN card – Address proof (any one) : Aadhaar card / voter ID card /passport / driving licence / utility bills / property or municipal tax receipt /rent agreement / house allotment letter issued by state or central government – Income proof : Salaried : Last 2 months salary slip + bank statement showing salary credits Self-employed : Latest income tax return (ITR) |
Conclusion
Bank of Baroda PRIME Credit Card is a secured card (issued against fixed deposit), and a lifetime free credit card.
Hence it is a good choice for those who value a free card, and those who are just starting/ re-building their credit card journey.
Apply Nowon BOB Financial website
Frequently Asked Questions
Can I apply for the Bank of Baroda PRIME Credit Card without having a fixed deposit with Bank of Baroda ?
No, the Bank of Baroda PRIME Credit Card is available ONLY to customers with a fixed deposit/s with Bank of Baroda. The fixed deposit serves as security for the credit card.
Is there a specific minimum amount required for the fixed deposit, to be eligible for the Bank of Baroda PRIME Credit Card ?
Yes, the minimum fixed deposit amount is ₹15,000.
Is Bank of Baroda PRIME Credit Card a lifetime free credit card?
Yes, the Bank of Baroda PRIME Credit Card has no annual fee, and is a lifetime free credit card.
Are there any income proof requirements for obtaining the Bank of Baroda PRIME Credit Card Credit Card?
No, providing income proof for the Bank of Baroda PRIME Credit Card is not required. This makes it accessible to various customer segments, including students, homemakers, gig works and self-employed individuals who do not have a regular source of income.
On this page
- Brief overview
- Pros and cons
- Detailed look at the card
- Features & benefits
- Card fees & charges
- Eligibility criteria
- Application process
- Frequently asked questions
FIND THE BEST CREDIT CARD