Business Cards
PM SVANidhi BOBCARD
- Joining fee
Lifetime Free
- Annual fee
Lifetime Free
- Best suited for
Business Expenses
- Reward type
Reward Points
Rewards
- Rewards rate
1 Reward Point per ₹100 spent on eligible spend
- Reward redemption
1 RP = ₹0.20
Fees & charges
- Interest rates
3.75%
- Fuel surcharge waiver
1%
Product highlights
- A credit, especially for street vendors.
- A lifetime free credit card, no joining or annual fee.
- The credit limit starts with ₹10,000.
- No cash withdrawal allowed from any ATMs.
Pros & cons
Pros
- The credit card has no joining fee and no annual fee.
- It helps street vendors grow their businesses.
- Street vendors will earn reward points when they spend on business expenses.
Cons
- The credit card is only available to vendors who repaid SVANidhi loans.
- Vendors can not withdraw money using the credit card.
- Even though this credit card is for vendors, there is still a high interest rate if they carry a balance.
FAQs
Who is eligible for the PM SVANidhi BOBCARD?
This credit card is available only to street vendors who have taken and successfully repaid a loan under the PM SVANidhi scheme.
Is there any joining or annual fee for the card?
No, the PM SVANidhi BOBCARD is lifetime free. There are no joining or annual charges.
What is the starting credit limit on this card?
The card usually starts with a credit limit of ₹10,000, which may increase based on repayment behaviour and usage.
Can I earn rewards on spending with this card?
Yes, you earn 1 reward point for every ₹100 spent on eligible transactions. Each reward point is worth ₹0.20 when redeemed.
Can I withdraw cash from an ATM using this card?
No, cash withdrawal is not allowed on this card. It is meant only for business purchases and digital payments.