Best Bank of India (BoI) Credit Card 2024: Eligibility, Features & Benefits

Bank of India offers a range of credit cards designed to meet various financial needs. These cards provide benefits such as rewards, cashback, and travel privileges.

Cardholders can access features like online account management, secure transactions, and worldwide acceptance.

Bank of India’s credit cards are a convenient financial tool for everyday expenses and can be tailored to suit individual preferences and lifestyles.

Bank of India (BoI) Credit Card 2024

Bank of India is a prominent public sector bank in India, known for its extensive banking services. The bank offers a variety of credit cards, each designed to cater to different financial needs and preferences.

The benefits of Bank of India (BOI) credit cards include the opportunity to earn rewards, cashback, and travel privileges, making them appealing choices for everyday expenses.

Cardholders can also enjoy features like secure online account management, hassle-free transactions, and the convenience of global acceptance. Bank of India credit cards are versatile financial tools that provide tailored solutions for a wide range of customer preferences and lifestyles.

Features & Benefits

Bank of India credit cards offer a wide array of features and benefits, making them a popular choice in the banking industry.

These advantages cater to various customer segments and preferences. Cardholders can benefit from multi-purpose cards designed for Navy personnel, travelers, and everyday consumers.

There is a Medi-Claim insurance premium discount collaboration with the National Insurance Co. Ltd., adding value to healthcare coverage.

BOI credit cards provide the flexibility of converting high-value purchases into Equated Monthly Installments (EMIs) with attractive repayment terms.

The revolving credit facility allows cardholders to pay just 10% of the bill before the due date, with competitive interest rates. Balance transfers from other credit cards are also possible, up to 75% of the spending limit.

The cards enjoy worldwide recognition, making them convenient for international travelers, and they can be used for cash withdrawals at various ATMs.

Moreover, Bank of India ensures impeccable customer support with 24/7 assistance for lost card reporting and provides an ATM locator service.

The cards come with affordable interest rates, particularly for those who pay the minimum amount on time, and offer an interest-free credit period of up to 51 days.

These features and benefits make Bank of India credit cards a versatile and attractive choice for a wide range of customers.

  • Pros

  • Cons

  • Diverse Card Options: BOI offers cards for different customer segments.
  • Affordable Interest Rates: Lower rates make purchases cost-effective.
  • Flexible EMI: High-value purchases can be converted into manageable installments.
  • Global Acceptance: Widely accepted for international travelers.
  • Rewards: Earn points for every Rs. 100 spent, redeemable for benefits.
  • Balance Transfer: Transfer balances from other cards (up to 75% limit).
  • Medi-Claim Discount: Savings on insurance premiums.
  • Cash Withdrawal: Convenient ATM access.
  • Customer Support: 24/7 assistance, lost card reporting, ATM locator.
  • Annual Fees: Some cards have fees.
  • Add-On Card Fees: Additional charges for supplementary cards.
  • Penalty Rates: High interest for late payments.
  • Specific Eligibility: Card criteria can be restrictive.
  • Limited Redemption: Rewards options may be limited.
  • Fee Waiver Conditions: Minimum spend required.
  • Income & Documentation: Proof of income and documentation needed.

Fees & Charges

Credit CardAnnual Fee
Navy Classic Credit CardRs. 600
Navy Gold Credit CardRs. 600
TAJ Premium CardRs. 800
Visa Gold CardRs. 600
Visa Gold International CardRs. 1,500
Visa Platinum Privilege CardRs. 600
Bank of India – India CardAnnual Fee waived with a minimum transaction of Rs. 20,000 during the previous year

Eligibility Criteria

Eligibility conditions for BOI credit cards include being an individual of Indian origin, non-resident Indian, or an individual of foreign origin residing in India for employment.

Applicants must have the required KYC documents, a good CIBIL credit score, and no defaults in payment of dues to BOI or other banks.

Applicants need to submit ID proof (e.g., passport, Aadhar card), address proof (e.g., passport, telephone bill), and income proof (e.g., IT returns, salary slips) for card application.

Additional documents may be required based on the card type and individual profile. Enquire with BOI for specific requirements.

How to Apply Bank of India (BoI) Credit Card Online?

  • Check eligibility requirements.
  • Choose the appropriate Bank of India credit card.
  • Gather necessary documents (ID, address proof, income proof).
  • Complete the application form accurately.
  • Submit the application in person at a bank branch or online.
  • Undergo a credit check and application review.
  • Be prepared for verification and document requests.
  • Credit limit assigned based on income and creditworthiness.
  • Receive the credit card at your registered address.
  • Activate the card per provided instructions.

Other Bank of India (BoI) Credit Cards

Bank of India, founded in Mumbai on September 7, 1906, boasts a rich history as one of India’s oldest and most influential commercial banks.

Over the years, it has played a vital role in India’s economic development. Offering a diverse range of credit cards, Bank of India caters to various financial needs.

These cards come with features like affordable interest rates, EMI options, flexible tenure choices, and balance transfer facilities, ensuring convenience and cost-effectiveness.

With worldwide recognition and acceptance, cardholders can enjoy cash withdrawals at ATM across India, making them ideal for international travel.

Bank of India credit cards also offer Medi-Claim insurance premium discounts, making healthcare coverage more accessible.

Customers earn rewards points that can be redeemed for various benefits, while impeccable customer support, including 24/7 assistance for lost card reporting and an ATM locator service, enhances the cardholder experience.

Why Choose Bank of India Credit Card?

Bank of India offers a comprehensive range of credit cards, each carefully crafted to serve a specific purpose. Customers can select from a variety of cards, each loaded with benefits, EMI options, flexible credit limits, and worldwide acceptance. BOI credit cards are sure to enhance your financial experience, providing exclusive offers and enviable privileges.

What is the minimum income for Bank of India credit card?

The minimum income required for a Bank of India credit card varies based on the specific card type and its eligibility criteria. Typically, the income requirements may differ for different cards, catering to a range of customer segments. It’s advisable to check the bank’s official website or contact their customer service to find the income eligibility criteria for the particular credit card you are interested in.

Which is the best BOI credit card?

The best Bank of India credit card for you depends on your individual financial needs and lifestyle. Bank of India offers a variety of credit cards, each designed to serve different purposes and customer segments. Consider factors such as your spending habits, preferences, and financial goals when choosing the best card for you. For specific recommendations, it’s advisable to consult with the bank or compare the features and benefits of their credit cards to make an informed decision.

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