Bank of Baroda is one of top government-owned bank in India. Bank of Baroda offers a diverse range of credit cards to meet the verious needs of customers. These credit cards come with a variety of benefits, but they also entail fees and charges, including an interest rate. In this article, we will look into the details of Bank of Baroda credit card interest rate or BOB credit card interest rate, how they are calculated, and the various factors that may attract interest charges.
What is Bank of Baroda Credit Card Interest Rate?
The interest rate on a Bank of Baroda (BOB) credit card is applicable when the cardholder hasn’t paid the total outstanding amount or has paid only a portion of it, known as the minimum amount due.
How Are Credit Card Interest Rates Calculated by Bank of Baroda?
Bank of Baroda calculates the rate of interest using the Annual Percentage Rate or APR. The bank charges a monthly interest rate on the due amount daily. To calculate the Daily Periodic Rate, you divide the Annual Percentage Rate by the total number of days in the year.
Interest Rate Charged on Bank of Baroda Credit Cards
Bank of Baroda offers a variety of credit cards, each with its own specific interest rate.
| Credit Card | Monthly Interest Rate | Annual Interest Rate |
|---|---|---|
| Bank of Baroda Eterna Credit Card | 3.25% | 39% |
| Bank of Baroda ( BoB ) Premier Credit Card | 3.25% | 39% |
| IRCTC BoB RuPay Credit Card | 3.49% | 41.88% |
| HPCL Bank of Baroda (BoB) ENERGIE Credit Card | 3.49% | 41.88% |
| Bank of Baroda Select Credit Card | 3.49% | 41.88% |
| Bank of Baroda Easy Credit Card | 3.25% | 39% |
| Bank of Baroda Conqr Credit Card | 3.49% | 41.88% |
| Bank of Baroda Varunah Credit Card | 3.25% | 39% |
| Bank of Baroda INDIAN ARMY YODDHA Credit Card | 3.25% | 39% |
| Bank of Baroda The Sentinel Credit Card | 3.49% | 41.88% |
| Bank of Baroda RAKSHAMAH Credit Card | 3.49% | 41.88% |
| Bank of Baroda ICAI EXCLUSIVE Credit Card | 3.49% | 41.88% |
| Bank of Baroda CMA ONE Credit Card | 3.49% | 41.88% |
| Bank of Baroda PRIME Credit Card | 3.25% | 39% |
| Bank of Baroda CORPORATE Credit Card | 2.60% | 31.20% |
| Bank of Baroda RENAISSANCE Credit Card | 3.49% | 41.88% |
| Bank of Baroda EMPOWER Credit Card | 3.49% | 41.88% |
| Bank of Baroda VIKRAM Credit Card | 3.25% | 39% |
| Bank of Baroda ONE Credit Card | 3.49% | 41.88% |
| Bank of Baroda PRAGATI Credit Card | 3.49% | 41.88% |
Which Bank of Baroda Credit Card Transactions Attract Interest Charges?
The Bank of Baroda levies interest charges on credit cards in various situations, including:
- Partial Payments: If you have paid only the minimum amount due, a portion of the total outstanding amount will be carried forward to the next billing cycle, attracting interest.
- Late Payments: Not paying the minimum due amount within the due date results in late fees and other charges being added to the outstanding amount.
- Cash Withdrawals: Using your credit card to withdraw cash may incur additional interest charges.
- International Transactions: When using your credit card internationally, BOB may apply additional charges or foreign currency conversion fees.
Bank of Baroda Credit Card Interest-free Period
Bank of Baroda offers an interest-free period ranging from 20 days to 50 days, depending on the transaction date. This interest-free credit period is applicable only if you have paid the total outstanding amount in full for the previous month.
Understanding BOB Credit Card Interest Rate, Bank of Baroda Credit Card Interest Rate is essential to manage your finances effectively. By making timely and full payments of your credit card bill, you can avoid unnecessary interest charges and ensure a smooth credit card experience.
FAQ
Is there a grace period for interest-free transactions?
Yes, Bank of Baroda offers an interest-free period of 20 to 50 days for transactions, provided the total outstanding amount is paid in full for the previous month.
For what duration is the interest rate applied for your credit card transactions?
The interest rate is applied from the transaction date until the previous total balance is paid in full if the total amount due is not paid.
How can I contact Bank of Baroda credit card customer care?
You can contact Bank of Baroda credit card customer care at 1800 103 1006.
How can I avoid high interest rates on my Bank of Baroda Credit Card?
To avoid high interest rates, ensure you pay the total outstanding amount or at least the minimum due on time and avoid cash withdrawals unless necessary.
Can I negotiate the interest rate on my BOB credit card?
The interest rates on credit cards are generally fixed and non-negotiable. They are determined based on the type of credit card and the bank’s policies.
What is the range of Bank of Baroda credit card interest rate?
Bank of Baroda credit card interest rate range between 38% to 42% per year.
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