The Bank of Baroda during 1998, introduced the first Indian Credit card for international use, in association with VISA which was already accepted by over ten million establishments in more than 60 countries. In 2002, the Bank of Baroda’s wholly-owned subsidiary, BOBCARDS Ltd in collaboration with MasterCard International, unveiled PARAS credit cards. In the same year, BOB CARDS and Cholamandalam Investment and Finance Company declared a tie-up to issue co-branded credit cards to Cholamandalam's vehicle finance customers. During 2003, the bank entered into tie-up with Bharat Overseas Bank Ltd (BOBL) to expand its credit card business in South India.
The Bank of Baroda is an Indian state-owned International bank.It is headquartered in Vadodara, Gujarat. Its corporate head office is located in Mumbai.
The bank was founded by Maharaja of Baroda, Maharaja Sayajirao Gaekwad III on July 20, 1908, in the Princely State of Baroda, Gujarat. The bank along with other 13 major commercial banks was nationalized on July 19, 1969, by the Government of India and it has been designated as a profit-making public sector undertaking (PSU).
The Bank of Baroda has total assets in excess of Rs 3.58 trillion, a chain of branches spread across 5538 branches in India and 10441 ATMs as of July 2017.
In its journey so far, since 1908, around 10 banks have been merged with Bank of Baroda.
The following are the features of Bank of Baroda’s Credit Cards
• Validity – Bank of Baroda’s Credit Card can be used in any part of the globe and it has acceptance across all the ATMs throughout the world.
• Loyalty Points – Bank of Baroda provides loyalty points for every purchase using its selected range of Credit Cards.
• Cash Withdrawal Limit – Some of the credit cards offered by Bank of Baroda grants a cash withdrawal limit of up to 30 percent on the credit limit to the individuals.
• Revolving Credit Facility – The credit cardholder of Bank of Baroda will be entitled to receive revolving credit facility. He/she can pay a minimum amount due and the remaining balance amount of spends can be paid as per the convenience of the credit cardholder.
The following are the benefits of Bank of Baroda’s Credit Cards
• Easy EMI Option – The Bank of Baroda provides the credit cardholders an option to convert the purchase of an item into a loan, allowing the cardholder to repay the debt in small installments every month. It will attract an interest on the principal amount. It makes the purchase easier for the buyer when the purchase price is huge. It provides an option to covert the purchase of goods with a minimum of Rs 2,500 and more than that on the credit card into easy EMIs of 6 or 12 months.
• Multiple Redemption Options - Cardholder can redeem the reward points in the form of cashback and other appealing options.
• Zero Fuel Surcharge – Bank of Baroda provides zero fuel surcharge facility for the credit cardholders. 1% of fuel surcharge amount will be waived for all the transactions ranging between Rs 400 to Rs 5,000 at all the fuel stations in the country.
• Free Add-on Cards – Bank of Baroda provides free add-on cards to its customers. One can get up to 3-lifetime free add-on cards for spouse, parents, siblings or kids who are above 18 years of age.
• In-built Insurance Cover – Bank of Baroda provides free personal accidental death cover to ensure financial protection for the family. This facility comes in as an added advantage for the credit card holder as well as their family members.
• Zero Liability On Lost Card – The cardholder of Bank of Baroda has to report about the loss of card immediately to the bank to ensure zero liability to avoid any kind of fraudulent transactions involving the lost credit card.
An applicant can apply for Bank of Baroda’s Credit Card through by visiting the nearest branch of Bank of Baroda or can apply through online by visiting the bank’s web portal at https://www.bankofbaroda.com/.
Applicants can also apply for the bank's credit card by sending an SMS ‘Apply < your city>’ to 9223990624.
Applicants can directly walk into the nearest branch of the Bank of Baroda and express the desire to obtain a credit card from the bank.
The bank executive will explain you about the features of all the credit cards after understanding the annual income, needs, and requirements of the prospective customer.
Once the applicant zeroes in the card as per the requirement, he/she will be asked to fill in the application form and enclose the required documents which include PAN card, identity proof, address proof, income proof and so on.
The bank representative will thoroughly go through the application form along with the other submitted documents provided by the applicant and will take a final call whether the applicant meets the eligibility criteria for the credit card for which they have applied for. Once the check is done the applicant will be provided with the desired credit card.
It will be at the discretion of the Bank of Baroda to decide if a customer has to be given Credit Card or not.
Applicants have to first visit the bank's website at https://www.bankofbaroda.com/ and click on the Cards section at the top of the page and select the Credit Cards option of the bank to view the various types of credit cards offered by the bank. Moving on the page will lead to a new web portal where the different cards provided by the bank along with the features and benefits offered by the cards will be shown. The prospective customer has to go through the details of each and every card and select a credit card as per the personal requirements.
Upon the selection of the card, now click on the “Apply Now” option which appears at the end of the page.
Proceeding Further, it will ask Looking for a Card under which three options will be available Choose Card, Enjoy Benefits and Apply. Select ‘Apply’ option. It will take you to the Application Form in a PDF Format.
The page asks you to give information about yourself, fill in all the details correctly as per the requirements. The list of information includes:
• Full Name
• First Name
• Middle Name
• Last Name
• Mother’s Maiden Name
• Father’s Name
• Date of Birth
• Marital Status
• Aadhaar No
• PAN No
• Educational Qualifications
• Residential Address
• Telephone Number
• Mobile Number
• e-mail Address
• Occupation Details
• Bank Details
• Add-on Cards
• Nomination for Primary Applicant
• Photography of the applicant
Once the above-mentioned details are filled in, review it once again and submit the same through online. The status of the application can be tracked in the bank’s official web portal.
Once the details are filled in, the bank will decide whether the candidate is eligible to avail the credit card for which they have applied for. Based on the eligibility of the customer, they may or may not receive the credit card, it will be on the discretion of the Bank of Baroda to decide if a customer has to be given Credit Card or not.
• Applicants age should be between 18 years and 65 years.
Individual applicants income should be more than Rs 3,00,000 per annum and above
Applicants income in case of Company / Firm the paid up capital should be Rs 25,00,000 per annum and above
• Applicant should be either employed or self-employed.
• An existing customer of the Bank will be preferred over a new one.
• Applicant should be a resident of India or Non- Resident Indian.
• Applicant should have a good CIBIL score.
• Identity Proof – Copy of Passport / PAN Card / Aadhaar Card / Driving License/ Election Voters ID Card
• Income Proof – Latest Income Tax Return Form/ Form 16/ Salary Slip (only in case of government / PSU sector employees)
• Address Proof – Copy of Passport/ Electricity Bill/ Bank Passbook of PSU Bank / Fixed Line Bill / Aadhaar Card
• PAN Card copy
• A color photograph
• Last three months bank statement
Bank of Baroda has introduced Insta-Pay application for the convenience of paying credit card bills instantly through net banking facility.
There is no need to log into the Bank of Baroda’s official web portal to pay the bills, instead, one can directly log in to the Insta-Pay and enter the credit card number as given in the Bank of Baroda’s credit card and make payments online without facing any hassles.
The payment will reflect in the respective credit card account within two working days of the transaction.
The cardholder should immediately inform the nearest branch office of Bank of Baroda. The bank upon receiving the request from the cardholder will immediately freeze payments on your current card and a new card will be delivered within a period of 7 days.
You can also contact the bank at their 24 hours customer care number at 1800-225-100.
The cardholder has to report the loss of card to the nearest police station and inform the bank in writing along with a copy of FIR duly acknowledged by Police.
In case, the card is damaged or if it is not working on the card acceptance terminal, you are requested to return the same to the Bank of Baroda on any of the address provided in the bank’s official website. The damaged card will be replaced with a new one and the same will be sent to your residential address.