BOBCARD Launches New Cashback Credit Card in India
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Should you get this BOB Card? Well, the cashback promise is not as lucrative for everyone. Check the details inside.
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If you’re looking for a cashback card in India and make regular online purchases, and are facing issues while applying for SBI Cashback Card, the new BOBCARD Cashback Credit Card is worth checking out.
BOBCARD Cashback Credit Card: Key Features
As per official documents and information by BOB Card, here’s what we know so far:
- Issuer: BOBCARD
- Primary benefit: Up to 5% cashback on eligible domestic online spends.
- Base rate: 1% on all other spends.
- Fee structure: ₹49/month or ₹499/year (no waiver, so far).
Let’s look at each of these benefits more deeply:
Feature | Details |
|---|---|
Cashback rate (Online spends) | 5% (1% base + 4% accelerated), on eligible domestic online transactions. |
Cashback rate (Offline & international) | 1% flat. |
Accelerated cashback cap | ₹1,500 per statement cycle. |
Minimum transactions per cycle | At least 4 transactions in the statement cycle are required to unlock cashback benefits. |
Transaction minimum | No cashback for individual transactions under ₹100. |
Exclusions | No cashback for fuel, ATM/cash withdrawal, quasi-cash, and certain merchant category codes (See Below) . |
Fee structure | Choose between ₹49 per month or ₹499 per year; no fee waivers. |
Cashback posting | Automatic credit to the statement every month; reversals are adjusted if transactions are cancelled or reversed. |
Eligibility | Indian residents. Salaried applicants: minimum net annual income ₹3 lakh; age between 21 and 60 years. Self-employed applicants must meet income criteria. |
BOB Cashback Card: Excluded MCC Codes for Cashback Eligibility
After reading the official MITC, I found that the following transactions are ineligible for cashback.
To check which merchants/platforms/outlets these merchant category codes belong to, please check our official merchant category code list in India.
Background and Timing of This Launch by Bank of Baroda
BOBCARD has been expanding its credit card offerings, updating its products and terms across variants like Easy, Select, Premier, Tiara, and Eterna Credit Card.
This new cashback card is being positioned alongside BOBCARD’s existing reward points cards; the simpler cashback model helps reduce reliance on point redemption.
How It Compares with Existing Cashback Credit Cards in India?
Card | Cashback/Rewards Online | Fee | Worth Noting |
|---|---|---|---|
BOBCARD Cashback Credit Card (new) | 5% online (capped ₹1,500), 1% offline & international | ₹49/month or ₹499/year; no waiver | Accelerated cashback; minimum 4 txns; auto statement credit |
SBI Cashback Card | Flat 5% to ₹5,000 online/offline spends (per cycle), subject to terms and conditions | Varies (approx. ₹999/year) | Higher cap on cashback; broader categories at a flat rate |
BOBCARD Select | 5× Rewards on online & dining spends; other spends lower rates | ₹750 + GST; waiver on milestone spends | Rewards points, not direct cashback; more categories; fuel surcharge waiver |
Should You Apply for This Cashback Credit Card?
The capped accelerated benefit and the lack of a fee waiver make it most attractive to those who can meet the minimum activity and spend thresholds each month.
If you primarily shop online and can reliably make at least four transactions/month totalling sufficient value to reach the ₹1,500 accelerated cashback cap, this card can be cost-effective even with the fee. For example, paying a ₹1,500 fee/year is offset by ₹1,500 cashback, but you’d need ₹37,500 of eligible online spend, assuming 4% accelerated rate.
For offline shoppers or those who make fewer than four transactions/month, the 1% base rate may not justify the fee. Traditional reward points cards or flat cashback cards from other issuers may perform better.
Users who spend heavily on excluded categories, fuel, ATM withdrawals, and certain MCCs will miss out on rewards and should factor that into their expected returns.
So, check your spending pattern and ask yourself:
- Can you consistently meet the four-transaction minimum?
- Will your eligible online purchases approach or exceed the accelerated cash-back cap?
Compare with what you currently get from competitors: sometimes a reward-points card with broader categories may still offer more value.
About the Author
Anmol
Anmol writes detailed blogs and content about credit cards available in India and how to take full advantage of credit cards while avoiding marketing noise.