Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Bank of Baroda (BoB) offers its credit cardholders the facility to convert their purchases into equated monthly instalments (EMIs) and repay at their convenience. For this, they can either visit select merchants or use their net banking facility. Here, you will learn all the details about the EMI conversion facility offered by the Bank of Baroda.
The key highlights of Bank of Baroda credit card EMI are mentioned below:
Bank of Baroda Credit Card EMI comes with the following benefits:
Here are the disadvantages associated with Bank of Baroda Credit Card EMI:
The fees and charges associated with Bank of Baroda Credit Card EMI are mentioned in the table below:
| Category | Amount |
| Processing fee | the transaction amount |
| Foreclosure charges | the unpaid principal amount |
| Interest rate for Instant EMI | p.a. to 15.00% p.a. |
| GST | fees and interest charged |
To avail Instant EMI conversion, you need to inquire with the merchant about the EMI options offered on Bank of Baroda credit cards. The merchant will offer repayment periods ranging from 3 to 24 months. Based on the tenure, the interest rates will range from 13.00% p.a. to 15.00% p.a. You may or may not have to pay a processing fee.
After reviewing the available options and terms, you need to select a tenure. Upon selecting a tenure, a charge slip comprising transaction information such as the EMI tenure, interest rate, and monthly instalment amount will be issued to you.
The steps to avail Post Purchase EMI conversion are mentioned below:
Step 1: Visit Bank of Baroda's official credit card page at https://online.bobcards.com.
Step 2: Select the ‘SERVICE REQUEST’ tab to view the services available.
Step 3: Under the ‘SERVICE REQUEST’ section, click on ‘EMI REQUEST.’
Step 4: Choose the transactions that you wish to convert into EMIs.
Step 5: Select your EMI term from the available options of 6, 12, 18, 24, or 36 months.
Step 6: The EMI amount will be displayed on the screen.
Step 7: Click on the ‘Submit’ button and agree to the T&C pop-up request.
When your request is successfully submitted, a confirmation window will appear. You will also receive an automated email with the Request ID on your registered email address.
Bank of Baroda offers three Easy EMI options: Instant EMI, Post Purchase EMI, and No Extra Cost EMI.
The interest rates range from 13.00% p.a. to 15.00% p.a. for the Instant EMI option.
Yes, you need to pay a processing fee of 2% of the transaction amount to avail the Post Purchase EMI option.
The tenures offered on the Instant EMI option range from 3 to 24 months.
No Extra Cost EMIs often have zero or low-interest rates. No processing fee is levied on such EMI conversions. This feature is available only on select products. If you choose the 0% interest option, the bank will charge you the current interest rate. However, during the time of payment, this amount will be offered as an upfront rebate.
No. Gold, jewellery, fuel, and cash transactions are not eligible for EMI conversions.
The minimum transaction amount to avail the Post Purchase EMI option is Rs.2,500.
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