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Credit cards have become essential for managing day-to-day expenses, earning rewards, and building a strong credit history. The BOB Easy Credit Card, offered by BOB Financial Solutions Limited (a subsidiary of Bank of Baroda), is designed to provide users with a simple, efficient, and rewarding experience.
Ananya, a young professional with a monthly income of ₹50,000, recently got the BOB Easy Credit Card. She loves shopping for groceries, watching movies, and often fuelling her car. Let us see how much Ananya can save with the fantastic rewards and offers the BOB Easy Credit Card provides.
Total Reward Points for the Month: 250 (groceries) + 100 (movies) = 350 points
Savings on Fuel: ₹30 savings on fuel surcharge.
By using her BOB Easy Credit Card for everyday purchases, Ananya earns valuable rewards and saves on fuel, making it the perfect card for regular shoppers and entertainment lovers. Plus, she can redeem these points for cashback, shopping vouchers, or travel bookings, turning her regular purchases into extra benefits!
In this guide, we will explore the various aspects of the BOB Easy Credit Card, including its features, eligibility criteria, fees, application process, and responsible usage strategies. We will also compare it with similar credit cards in the market to help you determine if it is the right choice for you.
Feature | Description |
Welcome benefits | Earn 500 Reward Points on spent of 25,000 within 60 days of card issuance. |
Reward Points | Earn 5X reward points for every ₹100 spent on groceries, departmental stores, and movie tickets. 1 reward point for every ₹100 spent on all other transactions. |
To be eligible for the BOB Easy Credit Card, applicants must meet the following criteria:
Read More – Bank of Baroda Credit Card – Benefits, Types & How to Apply
You can apply for the BOB Easy Credit Card through two methods:
1. Online Application
2. Offline Application
Fee Type | Amount |
Joining Fee | ₹500 (Reversed if ₹6,000 is spent in 60 days) |
Interest Rate
3.25% per month (39% per annum)
Example:
Raj has an outstanding balance of ₹10,000 on his credit card. The interest rate is 3.25% per month (39% per year).
How interest is calculated:
3.25% of ₹10,000 = ₹325
Raj will be charged ₹325 in interest for the month if he doesn’t pay off the entire ₹10,000.
So, if Raj only makes the minimum payment, his balance will grow by ₹325 in interest for that month.
Cash Withdrawal Fee
Example:
Rahul uses his credit card for different purchases in a month:
Groceries: ₹5,000
Shopping at a departmental store: ₹3,000
Movie tickets: ₹2,000
Other expenses (like dining & fuel): ₹10,000
How many reward points does he earn?
For groceries, shopping & movies: Earn 5 points for every ₹100
₹5,000 (groceries) leading to 250 points
₹3,000 (shopping) leading to 150 points
₹2,000 (movies) leading to 100 points
For other expenses: Earn 1 point for every ₹100
₹10,000 leading to 100 points
Total reward points Rahul earns:
250 + 150 + 100 + 100 = 600 points
By using his card wisely, Rahul collects 600 monthly reward points!
Fuel Surcharge Waiver | Get a 1% fuel surcharge waiver at fuel stations across India for transactions between ₹400 and ₹5,000. Example:
|
Zero Annual Fees | The BOB Easy Credit Card comes with an annual fee of ₹500, which is waived on spending a minimum of ₹35,000 in a year, making it a cost-effective credit card option.
She does not pay any joining fee when she gets the card.
Scenario 1: Priya spends ₹50,000 or more in a year She does not have to pay the ₹500 annual fee.
Scenario 2: Priya spends less than ₹50,000
|
Joining Fee Reversal | Spend ₹6,000 within the first 60 days of card issuance to get your joining fee reversed.
He gets the ₹500 joining fee back (fee is reversed). The card costs him nothing to get started! Scenario 2: Ravi spends less than ₹6,000 in 60 days He does not qualify for the fee reversal and has to pay the ₹500 joining fee. So, if Ravi uses his card for regular expenses like groceries, fuel, and shopping, he can avoid paying the joining fee! |
Interest-Free Credit Period | Enjoy up to 50 days of interest-free credit on purchases, provided the previous month's outstanding balance is fully cleared. |
Foreign Transactions | Use your card internationally with a nominal foreign transaction fee of 3.5%.
If $1 = ₹83, then $100 = ₹8,300 3.5% of ₹8,300 = ₹290.50
This means whenever Meera uses her card abroad, she will pay a small extra fee (3.5%) on every transaction. |
Entertainment benefits | Catch the latest flicks on the big screen and earn yourself 5X Rewards, i.e., 5 Reward Points per 100 spent on movies.
₹1,200 ÷ ₹100 = 12
|
EMI Facility | Convert purchases of > ₹2,500/- on your card into Smart EMIs of 6 to 48 months.
Since ₹30,000 is more than ₹2,500, he is eligible for EMI. He selects a 12-month EMI plan. The bank divides ₹30,000 into 12 smaller payments plus some interest.
|
Online Banking Access | Manage your credit card transactions, check balances, and pay bills through BOB Net Banking and the Mobile App. |
Lost Card Liability Cover | In case of loss or theft, report immediately to limit liability and prevent unauthorised transactions. |
*T&C Apply
2.5% of the amount withdrawn.
Example:
Ravi withdraws ₹5,000 in cash from an ATM using his credit card. The cash withdrawal fee is 2.5% of the amount withdrawn.
Fee Calculation:
2.5% of ₹5,000 = ₹125
So, Ravi will be charged an additional ₹125 fee for withdrawing ₹5,000 in cash from his credit card.
Late Payment Fee
₹100 to ₹1,200 based on outstanding amount
Over-limit Fee
2.5% of the over-limit amount.
Example:
Priya’s credit card limit is ₹20,000, but she spends ₹22,000 in total. This means she has exceeded her credit limit by ₹2,000.
Over-limit Fee Calculation:
The over-limit fee is 2.5% of ₹2,000.
2.5% of ₹2,000 = ₹50
So, Priya will be charged an additional ₹50 as the over-limit fee.
For example, 10,000 reward points can be redeemed for a ₹1,000 cashback.
You can pay your BOB Easy Credit Card bill through various methods:
To determine if the BOB Easy Credit Card is the right choice, we will be comparing it with similar entry-level cards:
Feature | BOB Easy Card | HDFC MoneyBack | SBI SimplyCLICK |
Reward Rate | 5X on groceries, movies | 2X on online spends | 10X on online spends |
Annual Fee | ₹500 (waived on spending of a minimum ₹50,000 in a year) | ₹500 (waived on spending of a minimum ₹50,000 in a year) | ₹499 (waived on spending of a minimum ₹1,00,000) |
Fuel Surcharge Waiver | Yes (1%) | Yes (1%) | Yes (1%) |
EMI Options | Yes | Yes | Yes |
First-time credit card users who want a low-cost solution will find that the BOB Easy Credit Card provides excellent benefits. The card offers multiple cost-saving features through its reward points protocol, eliminated fuel fees, and year-long annual dues exemption.
Also Read – BOB Eterna Credit Card – Latest Benefits, Fees & How to Apply
The BOB Easy Credit Card offers the most value to people who regularly shop at grocery stores and departmental outlets and movie fans who earn bonus points from entertainment expenses. The rewards system of this card offers limited benefits to users who prefer to shop online. As an excellent choice in its category, the BOB Easy Credit Card delivers essential advantages and affordable maintenance for everyday credit card usage.
1. What is the credit limit of the BOB Easy Credit Card?
The credit limit is determined based on your income, credit score, and repayment history. Typically, the limit ranges from ₹20,000 to ₹2,00,000.
2. Can I use my BOB Easy Credit Card for international transactions?
Yes, the card can be used for international transactions, and a 3.5% foreign transaction fee applies.
3. What happens if I fail to pay my credit card bill on time?
A late payment fee and interest charges of 3.25% per month will be applied to the outstanding amount.
4. Is there an option to convert purchases into EMI?
Yes, transactions above ₹2,500 can be converted into EMI with affordable interest rates.
5. How can I check my credit card statement?
You can check your statement through BOB Net Banking, Mobile App, or receive it via email/SMS alerts.
Other Credit Cards | |||
