OFFERS FOR BOB CUSTOMERS

CFS/SME/MID-Corporates

To facilitate the Borrowers of our Parent Organization we have designed a specific Credit Card for meeting emergent working capital requirements of corporate clients.

1. For corporate clients with a credit facility with Bank of Baroda of greater than Rs. 5 crores

Name of Card : Bobcard Corporate Premium (Chip Based card)

Eligibility Criteria

  • Credit facility enjoyed with BOB minimum Rs. 5 crore and rating not less than BOB-6
  • Minimum Paid up capital Rs. 25 Lacs
  • Minimum Networth Rs. 50 Lacs
  • The Company should be profit making.

For Whom

  • Directors / Partners/ executives sponsored by the company / partnership firm.
  • Multiple cards can be issued to various Directors / partners / executives of the company subject to fulfillment of Bobcards internal policies in place.

Limit on card

  • 1% of the limit (Fund & Non-Fund Based) approved by the bank to the a maximum limit of Rs.45 Lacs on the card/s issued to the company whichever is lower. Or
  • Maximum 15 cards per unit with limit of Rs.3 lacs (within overall Rs.45 Lacs )

Security : On Security / Collateral available to the bank, lien to be noted by Bank of Baroda on behalf of BOBCARDS.

2. For corporate clients with a credit facility with Bank of Baroda between Rs. 1-5 crores

Name of Card : Bobcard Corporate Premium (Chip Based card)

Eligibility Criteria

  • Credit facility enjoyed with BOB minimum Rs. 1-5 crore and rating not less than BOB-6
  • Minimum Paid up capital Rs. 25 Lacs
  • Minimum Networth Rs. 50 Lacs
  • The Company should be profit making.

For Whom

  • Directors / Partners/ executives sponsored by the company / partnership firm.
  • Multiple cards can be issued to various Directors / partners / executives of the company subject to fulfillment of Bobcards internal policies in place.

Limit on card

  • 1% of the limit (Fund & Non-Fund Based) approved by the bank to the a maximum limit of Rs.5 Lacs on the card/s issued to the company whichever is lower. Or
  • Maximum 5 cards per unit with limit of Rs. 1 lacs (within overall Rs. 5 Lacs )

Security : On Security / Collateral available to the bank, lien to be noted by Bank of Baroda on behalf of BOBCARDS.

3. For corporate clients with a current account in Bank of Baroda

Name of Card : Bobcard Corporate Premium (Chip Based card)

Eligibility Criteria

  • Corporate must be a current holder at Bank of Baroda
  • Minimum turnover of Rs. 2 Crores
  • Minimum paidup capital of Rs.25 Lacs
  • Minimum net worth of Rs. 50 Lacs
  • Average quarterly balance in current account of Rs. 50,000/-
  • Minimum 3 years as a current account holder in BOB

For Whom

  • Directors / Partners/ executives sponsored by the company / partnership firm.
  • Multiple cards can be issued to various Directors / partners / executives of the company subject to fulfillment of Bobcards internal policies in place.

Limit on card

  • 1% of the limit (Fund & Non-Fund Based) approved by the bank to the a maximum limit of Rs. 5 Lacs on the card/s issued to the company whichever is lower. Or
  • Maximum 5 cards per unit with limit of Rs.3 lacs (within overall Rs. 5 Lacs )

Security : On Security / Collateral available to the bank, lien to be noted by Bank of Baroda on behalf of BOBCARDS.

NRI’s/Housewives/Senior Citizens

To fulfill the card requirement of those set of applicants who at times fail to meet one or the other eligibility criteria in terms of Age/ Income or any other reason. These categories of customers are basically NRI’s / Housewives / Senior Citizens/Students. We have introduced a card product specially designed for such customers in the Platinum range of cards namedBOBCARDS ASSURE.

Benefits to the customers

  • No Joining Fee
  • Free Credit Period / Interest free period up to 50 days
  • Continue to earn interest on Fixed Deposit.
  • Save the cross border currency conversion charges (Mark up Fee) loaded per card transaction in case the merchant bank and issuing bank are not of the same country.

Features

  • Acceptability: Global
  • Chip based card
  • Revolving Credit limit upto 80 % of the FD amount (Liened)
  • Cash withdrawal limit: 100% of credit limit
  • Waiver of Annual fee on minimum annual card spend of Rs. 50,000/-.
  • Loyalty Points: 1 on purchase of Rs 100/- (Except for cash/petrol txns.)
  • Accident Death Insurance: Absolutely Free Insurance coverage
    • Air Accident: Rs.15 Lacs
    • Other Accident: Rs. 5 Lacs

Eligibility

  • Fixed Deposit of min Rs. 25,000/- in Bank of Baroda
  • Lien to be noted in favour of Bobcards and original FDR to be retained by the concerned Bank of Baroda branch
  • Age above 18

Documents Required

  • Identity Proof (Copy of PAN card / Passport)/UID/Voter's Identity Card
  • Photograph
  • Address Proof (Indian)
  • Annexure I, 2, 3
  • Copy of FDR duly discharged by applicant (front and back side)

Housing Loan Customers

Objective

The credit card is offered as a value proposition with the bank product.

Target Customer

Individual Housing Loan borrowers of Bank of Baroda

Eligibility Criteria

  • Home Loans with sanctioned amount of Rs.25 Lacs & above.
  • Repayment period / residual period (in case of existing loan accounts) not less than 5 years.

Sponsoring Branches

  • Retail Loan Factories (RLFs)
  • Bank’s branches not covered under RLFs)

Card Type & Credit Limit

  • Bobcards VISA Platinum with a suitable credit limit based on internal scoring / assessment
  • The card shall be issued without joining / membership fee and shall also not attract annual fee for the first 2 years of issuance.

Modalities

  • Bobcard Application Form along with Undertaking in specified format (forming part of application form) may be collected at the time of application itself later in case of existing loan accounts.
  • Branch Verification Report along with KYC confirmation will be treated for availing Credit Card facility and no separate formalities in this regard are required.
  • Filled application form along with Undertaking (forming part of application form) may be forwarded to Bobcards Ltd. for issuance of card.
  • The branch may recommend for the credit limit based on the need and credentials of the customer. Bobcards Ltd. will issue the card with a credit limit based on branch recommendation, if in lines with Bobcards internal credit sanctioning policy.
  • Bobcards Ltd. to dispatch card & PIN directly to the customer under advice to the concerned branch, the branch to note issuance of card with details in Core system (finacle).

Security

Secured by the way of undertaking from borrower authorizing the back to retain various securities until Bobcard dues are paid in full and also to appropriate the proceeds to liquidate Bobcards Ltd. dues.

Terms & Conditions

  • Continuation of Credit Card facility even after repayment of loan is subject to satisfactory conduct of Bobcard account, solely at discretion of Bobcards Ltd. In the event of continuation of Bobcards facility after liquidation of Bank’s dues release of security is subject to production of NOC from Bobcards Ltd.
  • The up-gradation, blocking, de-activation, forced closure of the card is at sole discretion of Bobcards Ltd. However, such decisions are subject to fulfillment of Bobcards internal policies in place.
  • Bobcards Ltd. issues only one card to one customer so issuance of fresh card under the scheme shall be declined if the applicant already holds a live Bobcard. However, upgradation of Platinum Card shall be considered in such a case if the customer holds a card lower than Bobcard Platinum.
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