Looking for an affordable business credit card with a low interest rate? The BOBCARD Micro Enterprise Credit Card is built for micro entrepreneurs registered under the Government of India initiative. In this complete review you will discover its fees, rewards, eligibility, real drawbacks and whether it is the right choice for your daily business spends.
1. Brief Introduction (Card Overview)
2. Key Takeaways
- Best for: Micro entrepreneurs needing affordable revolving credit
- Top Benefit: Low finance charge of only 1.5% per month (18% p.a.)
- Annual Fee: ₹500 + GST (waived on ₹50,000 anniversary spends)
- Standout Feature: Government-backed scheme with CGTMSE support and UPI payments
- Verdict: Solid basic business card if you value low interest over premium lifestyle perks
3. Fees & Charges
| Fee Type | Details |
|---|---|
| Joining Fee | Nil (as per latest MITC) |
| Annual / Renewal Fee | ₹500 + GST (waived on spends of ₹50,000 in the anniversary year) |
| Forex Markup Fee | 3.5% |
| Finance Charges (Interest) | 1.5% per month (18% p.a.) – significantly lower than regular cards |
| CGTMSE Fee | 0.55% (applicable only on this card) |
| Cash Withdrawal | 2.5% of amount or ₹500 (whichever is higher) |
| Reward Redemption Fee | Nil |
4. Cashback, Rewards & Discounts
5. Travel Benefits
This is a pure business-focused card. If you need lounge access or travel insurance, consider premium BOBCARD options like Eterna or Corporate variants instead.
6. Other Lifestyle & Special Perks
7. Eligibility Criteria
8. Drawbacks & Cons
9. Similar & Alternative Cards
10. Official Website & Essential Links
11. How to Apply
Online Steps:
- Ensure your micro enterprise is registered on the JanSamarth / Udyam portal
- Visit the official BOBCARD Micro Enterprise Credit Card page and click Apply
- Fill the online application form with personal and business details
- Upload KYC, business proof, GST/Udyam details, ITR and bank statements
- Complete e-KYC / Video KYC and submit; approval usually takes 5–7 working days
Documents Required:
12. Safety & Fraud Prevention Tips
13. Should You Get This Card? (Final Verdict)
Pros Summary: Micro entrepreneurs who need low-cost revolving credit, UPI convenience and a simple fuel surcharge waiver will benefit the most from the BOBCARD Micro Enterprise Credit Card.
Final Conclusion: The BOBCARD Micro Enterprise Credit Card is a practical, no-frills business card under the Government of India scheme. Its standout 18% interest rate and easy annual fee waiver make it worth considering if you are a registered micro enterprise focused on cash-flow management rather than luxury perks. Always verify the latest terms on the official website before applying.
14. Frequently Asked Questions (FAQs)
Q: What is the interest rate on the BOBCARD Micro Enterprise Credit Card?
A: The finance charge is only 1.5% per month, which equals 18% per annum – much lower than the 39–45% charged on most regular credit cards.
Q: How can I waive the annual fee of the BOBCARD Micro Enterprise Credit Card?
A: Spend ₹50,000 or more in the anniversary year and the ₹500 + GST annual fee is automatically waived.
Q: Can I convert purchases into EMI on this card?
A: Yes. Eligible purchases of ₹2,500 or more can be converted into Smart EMIs ranging from 6 to 48 months via the BOBCARD app or customer care.
Q: Is the BOBCARD Micro Enterprise Credit Card lifetime free?
A: No. It has a ₹500 + GST annual fee that can be waived by meeting the ₹50,000 spend condition. Joining fee is currently Nil as per MITC.
Q: Who is eligible for the BOBCARD Micro Enterprise Credit Card?
A: You must be an Indian resident aged 21–65 years and registered as a Micro Enterprise on the JanSamarth / Udyam portal. A good CIBIL score is preferred.
Q: Does this card offer airport lounge access?
A: No. The BOBCARD Micro Enterprise Credit Card does not provide complimentary airport or railway lounge access.
Q: Can I link this card to UPI?
A: Yes. Being on the RuPay network, you can link it to any UPI-enabled app for QR code and online payments.
Q: Is there a fuel surcharge waiver?
A: Yes. You get 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000, capped at ₹250 per statement cycle. Fuel spends do not earn reward points.
15. Expert Help & Next Steps
Still Confused? Not sure if this credit card is the right choice for your spending habits?
₹49 Expert Consultation: Get personalised advice from our credit card experts and apply safely without falling for online fraud.
16. Disclaimer
Financial Disclaimer: The information provided in this article is strictly for educational and informational purposes. Credit card fees, interest rates, and terms & conditions (T&C) are subject to change by respective banks over time. Always check the official website of the relevant bank to review all rules thoroughly before applying for any card. We are not responsible for any financial losses or approved/rejected applications.
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