Credit cards have become a quintessential part of everyday lives. They provide individuals with the chance to manage their finances well and even boost their respective credit scores. The Bank of India credit card is one that allows people to get these privileges, alongside a myriad of other benefits.
Unlike others on the market, the Bank of India credit card provides a promising range of credit cards geared towards different types of individuals and their respective lifestyles. From local spending to international usage, the Bank of India sees to it that it offers a suite of credit cards that cater to varying concerns.
With benefits and perks in and outside the country, these cards are designed to boost your financial capacity and confidence wherever you might be. Wondering what card you should get and how you should apply? Take a look at what these cards have to offer below.
Features And Benefits: Bank Of India Credit Card
There are six major credit cards under the Bank of India, most of which are powered by either Visa, Mastercard, or RuPay.
For individuals who are seeking a more advanced card, one of the more suitable cards offered by the bank is the Mastercard Platinum International card. Under this, you can use your card not only in India but also in Nepal and foreign terminals around the globe, thanks to its worldwide acceptance.
Equipped with a security chip and PIN, this credit card aims to protect cardholders. It also comes with your photo on the card to prevent fraudulent transactions and to facilitate easier identification.
What’s more, you get a special complimentary lounge visit per quarter at select airport lounges throughout India. This can be availed via the Mastercard Lounge Access Program which is exclusive to Mastercard cardholders.
Eligibility And Application For This Card
Interested in applying for a Bank of India credit card? To do so, you should be of legal age and must currently be residing in India. Your CIBIL credit score should also be decent to be considered.
Moreover, your KYC documents should also be verified and you should also have a steady income that’s verified by your salary slips or income tax return. Other documents you might need include your proof of address and proof of identification.
To apply, you’ll need to submit a completed application form to a branch near you. Once your application is approved, the bank will determine your spending limit based on the card you are given.
Consider The Fees And Charges
Bear in mind that Bank of India credit cards come with fees and charges, so make sure to factor these in when applying. Depending on the card you’ll be getting, annual fees range from Rs. 600 to Rs. 1,500. Meanwhile, cash advances will be charged 2% to 2.5%. Over limit charges are valued at Rs. 10 per transaction.
To fully asses the fees and charges you will be subject to, you will need to examine the specific card you are offered fro, the bank.
The Bottom Line
Applying for a Bank of India credit card can open up a world of possibilities. Apart from rewards and global acceptance, cardholders also benefit from a host of features.
For queries, reach out to Bank of India via their hotline at 022-6668444 or visit their head office at Bank of India, Star House, C – 5, ‘G’ Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
