Bank of Baroda ICSI Diamond BOBCARD Credit Card Review
Author And Publisher: Gyro 3.oBank of Baroda ICSI Diamond BOBCARD Credit Card
Bank of Baroda ICSI Diamond BOBCARD Credit Card Review: ICSI Member-Exclusive Card with Zero Joining Fee, 5X Dining/Online Rewards & 12 Lounge Visits
introduction
The ICSI Diamond Credit Card by BOBCARD is an exclusive lifetime-free card designed especially for ICSI members, offering rewards and savings on everyday as well as lifestyle spends. It gives 5X reward points on dining, online shopping and utility bill payments, plus 1 reward point per ₹100 on other spends. Cardholders also get complimentary domestic airport lounge access (up to 12 visits a year) and a reduced forex markup of 2% on international transactions, which helps frequent travellers save more. As a welcome fitness benefit, the card includes a 6‑month complimentary Fitpass Pro membership, along with milestone rewards and a monthly fuel surcharge waiver for added value.
key features and benefits
Welcome Benefits
Complimentary 6-Month FITPASS Pro Membership: Activated on card issuance, unlimited gym access to 10,000+ fitness facilities nationwide.
Zero Joining Fee.
Reward Structure
Dining, Online Shopping & Utility Bills: 5 Reward Points per ₹100.
- All Other Categories: 1 Reward Point per ₹100 (1% base earning).
Milestone Benefit
Quarterly Milestone Bonus: 3,999 RP every quarter on spending ₹1,00,000+ or card's credit limit.
500 Bonus Reward Points: Credited on spending ₹5,000 or more within 60 days of card issuance.
Airport Lounge Access
12 Complimentary Domestic Airport Lounge Visits: 3 visits per calendar quarter (12 annually) at participating domestic airport lounges nationally.
insurance benefit
- Get free Professional Indemnity Insurance Cover of up to ₹25 Lakhs, Air accident death cover of ₹15 Lakhs and Non-air accident death cover of ₹5 Lakhs.
Other Benefits
- contactless safe payments.
get upto 3 lifetime free add-on cards.
smart EMI: convert spends into EMI with smart EMI option (mini ₹2500).
zero Liability on lost card (report Immediately).
Card Essential
Rewards and Benefits Analysis
Best for: ICSI members, Company Secretaries, corporate professionals, frequent business travelers, those seeking professional recognition through banking.
Real Value Example (Annual Spend ₹20,00,000 - ICSI Professional, per Bank of Baroda scenarios):
Dining (₹5,00,000 × 5%): 25,000 RP = ₹6,250 cashback.
Online shopping (₹4,00,000 × 5%): 20,000 RP = ₹5,000 cashback.
Utility bills (₹2,00,000 × 5%): 10,000 RP = ₹2,500 cashback.
Other categories (₹9,00,000 × 1%): 9,000 RP = ₹2,250 cashback.
Total RP: 64,000 RP = ₹16,000 value.
Quarterly milestone bonuses (4 quarters × 3,999 RP): 15,996 RP = ₹3,999 annually.
Lounge access (12 visits × ₹2,000): ₹24,000 value.
Forex savings (₹4,00,000 international × 2% vs 3.5%): ₹6,000 saved.
Fuel surcharge waiver (₹50,000 fuel × 1% capped): ₹3,000 annual.
FITPASS (6 months, year 1): ₹7,500 value.
Welcome bonus (year 1): ₹125 value.
Total annual value: ₹68,874+ (year 1 with welcome).
Less annual fee (₹0): Net benefit = ₹68,874+ indefinitely.
Extra Perks: 12 lounge visits, FITPASS welcome, 2% forex, zero fees, quarterly bonuses, fuel waiver.
Limitations: 5X restricted to 3 categories; 1X base modest; ICSI exclusivity; no golf/concierge; lounge visits capped.
Practical Considerations
Fees & Charges Summary:
Lifetime zero joining and annual fees: Unprecedented for professional association cards.
12 lounge visits: Annually (3 per quarter) for frequent travelers.
2% forex markup: Saves 1.5% vs standard 3.5% internationally.
Quarterly milestone bonuses: Up to ₹3,999 annually on ₹1L+ quarterly spend.
Eligibility:
ICSI Membership: Must be current ICSI member (Company Secretary or Associate member).
Age: Typically 21-65 years.
Residency: Indian residents only.
Documentation (Bank of Baroda ICSI Diamond BOBCARD):
PAN card (mandatory).
Recent passport-sized photo (white background).
Address proof: Aadhaar, Voter ID, Passport, Driving Licence.
ICSI Membership proof: Valid ICSI membership certificate or ID.
Income proof: Salary slips, bank statements, or professional income documentation.
Potential Limitations :
ICSI member exclusivity: General public ineligible—requires active ICSI membership.
5X limited to 3 categories: Restricted to dining, online shopping, utilities.
1X base modest: Lower than some premium cards (2-3% base).
Lounge visits capped: 12 annually (4 per month average)—may not suit ultra-frequent travelers.
No golf benefits: Not positioned for golf enthusiasts.
Redemption Options
- BOBCARD Rewards Portal:
- Reward Points redeemable exclusively for cash credit against outstanding card balance (1 RP = ₹0.25 direct conversion per Bank of Baroda documentation), straightforward, transparent redemption suitable for professional use.
- Best Value Strategy:
- Consolidate dining spends via card for 5X earning (business meals, personal dining).
- Route all online shopping through ICSI Diamond for 5X acceleration.
- Pay utilities, insurance, telecom via card for 5X utility acceleration.
- Plan business travel to maximize 12 annual lounge visits (3 per quarter).
- Achieve quarterly ₹1L+ spend milestones for 3,999 RP bonuses.
- Redeem quarterly for consistent cashback.
Ideal User Profile
Active ICSI members (Company Secretaries, Associates).
Established corporate professionals with high income.
Frequent business travelers (12+ annual trips).
Those with ₹20L+ annual spending patterns.
International business travelers.
High online shopping + dining spenders.
Professionals prioritizing recognition through banking.
Final Thoughts
- Strengths:
Lifetime free: Zero joining + annual fees forever—unprecedented for professional cards.
5X dining rewards: Exceptional acceleration on business meals and entertainment.
5X online shopping: Strong earning on e-commerce purchases.
5X utility bills: Coverage of recurring professional/household expenses.
12 domestic lounge visits: Quarterly access (3 per quarter) at major airports.
2% forex markup: Saves 1.5% on international transactions.
Quarterly milestone bonuses: Up to 3,999 RP (₹3,999 annually) on ₹1L+ quarterly spend.
FITPASS Pro welcome: 6-month ₹15,000 membership on issuance.
500 RP welcome bonus: ₹125 value on first ₹5,000 spend.
1% fuel surcharge waiver: ₹3,000 annual savings.
3-step digital application: Fast online process (form → Aadhaar e-sign → Video KYC).
- Limitations:
ICSI membership required: General public ineligible.
5X limited to 3 categories: Restricted to dining, online, utilities.
1X base modest: Lower than premium cards (2-3% base).
12 lounge visits capped: May not suit ultra-frequent travelers (40+ annual trips).
No golf benefits: Not lifestyle-luxury positioned.
Verdict:
An exceptionally well-designed professional card celebrating ICSI member achievement through zero ongoing costs, strong multi-category acceleration (5X dining/online/utilities), comprehensive travel support (12 lounge visits, 2% forex), and substantial welcome value (FITPASS ₹15,000 + 500 RP). Quarterly milestone bonuses reward consistent professional spending. Lifetime free positioning unprecedented for professional association cards. Perfect for established Company Secretaries and ICSI members with ₹20L+ annual spending. However, 5X restricted to 3 categories. 1X base modest versus premium cards. 12 lounge visits may be limiting for ultra-frequent travelers. ICSI membership requirement naturally restricts audience. Highly recommended for all eligible ICSI members, Company Secretaries, and corporate professionals seeking zero-cost premium positioning with professional community recognition—caveat: value maximized only if authentic spending aligns with 5X categories (dining, online, utilities); otherwise benefits diminished.
Additional Tips for Applicants
Map your real spends first; apply only if dining, online shopping, and utilities form a big share of your monthly expenses.
Set up all major bills (electricity, phone, broadband, OTT, DTH) on this card to systematically capture 5X utility rewards.
Plan quarterly budgets so you naturally cross the ₹1,00,000 milestone (without overspending) to earn the 3,999 RP bonus.
Review your annual spending once a year to confirm the card is still aligned with your lifestyle; if not, adjust category usage or primary card strategy.
CDMS EXPERT ADVICE
Professional association cards can tempt lifestyle inflation if 5X dining and online rewards encourage aspirational spending beyond genuine professional needs. If monthly balances climb despite zero-fee positioning:
Stop discretionary 5X category spending; focus on essential professional expenses only.
Recognize rewards as bonus on authentic dining/online purchases, not spending justification.
Prioritize full settlement to avoid 3.5% monthly interest erasing 5X value.
Seek professional financial counseling before balances spiral.
This review offers a clear and balanced overview of The Bank of Baroda ICSI Diamond Credit Card’s strengths and limitations, helping readers make an informed choice about whether this card fits their
Spending Habits And Financial Goals.
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