Terms & Conditions for

Retail Balance to EMI, Insta Money, Pre-purchase & Post-purchase EMI

A. Retail Balance to EMI: -

Convert Billed Retail Balance to EMI (Exclusive offer for selected BOBCARD holders)

1. Conversion of Retail Balance to EMI is sanctioned at the sole discretion of BOBCARD

2. Availing of the EMI offer will be deemed to be your unconditional acceptance of the terms and
conditions, in addition to the terms and conditions accepted while applying for BOBCARD, and you
will be bound by the same.

3. Only selected BOBCARD Customers are eligible for the Conversion of Retail Balance to EMI.
BOBCARD reserves the right to decide the eligibility as per internal policy and guidelines from time to
time.

4. The outstanding amount should be at least ₹2500 or more for converting into EMI

5. Entire eligible Billed Retail Balance (excluding ongoing EMI, applicable GST on the same& Cash
withdrawal, if any) could be converted into EMI.

6. Conversion of Billed Retail Balance to EMI once processed cannot be cancelled.

7. Interest rate confirmed at the time of applying will be applicable. The rate of interest applicable will
be cardholder-specific as decided by BOBCARD at its sole discretion and intimated to the cardholder
before availing the facility of Retail Balance to EMI.

8. Interest is calculated using the reducing balance method.

9. Tenure confirmed at the time of applying cannot be changed.

10. A one-time processing fee will be applicable. Unless communicated otherwise, the processing fee
will be 2% of the retail balance amount, subject to a minimum of ₹100 (exclusive of GST). Processing
fees charged will not be reversed under any circumstances.

11. Monthly payment dues will include EMI and GST on the interest amount of the EMI. This will be
billed in the monthly statement starting from the immediate billing cycle date and will be part of the
Minimum Amount Due (MAD) appearing in your monthly BOBCARD statement. Payment of MAD is
required to keep your card in regular status.

12. Please note that EMI = Principal Amount + Interest Amount. Monthly Retail Balance to EMI
Repayment = EMI + GST on Interest amount of EMI.

Example: -

Principal – ₹10,000 Tenure - 6 Months, Interest rate = 16%**, GST – 18%* of the interest component

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Period Opening Principal Interest EMI(P+I) GST (₹) Closing
Principal Charged Charged (₹) Principal
(₹) (₹) (₹) balance (₹)
Month 1 10000 1618.71 116.6 1735.37 21.00 8381.28
Month 2 8381.28 1637.59 97.70 1735.37 17.60 6743.68
Month 3 6743.68 1656.70 78.67 1735.37 14.16 5086.98
Month 4 5086.98 1676.03 59.34 1735.37 10.68 3410.94
Month 5 3410.94 1695.58 39.79 1735.37 07.16 1715.36
Month 6 1715.36 1715.36 20.01 1735.37 03.60 00

*GST will be applicable as per prevalent tax laws. Tax laws are subject to change/amendment from
time to time by the Government of India.

** Calculation is on the basis of 16%. So, the Amount will differ in case of a change in Interest Rate.

13. Partial pre-payment or partial closure is not permitted.

14. The Retail Balance to EMI once approved and processed can only be pre-closed. In case of pre-
closure of the Retail Balance to EMI account, a charge, currently 3% of the balance principal
outstanding will be applicable. Along with pre-closure charges, pro-rata interest applicable and the
credit card outstanding balance at the time of pre-closure have to be repaid for pre-closure of Retail
Balance to EMI. Additional interest if any on the principal outstanding from the last statement date till
the date of Retail Balance to EMI pre-closure will need to be paid.

15. GST levied will not be reversed on any dispute on Fees, Charges or Interest.

16. If yourBOBCARD gets cancelled (either by card holder/by BOBCARD)before all the instalments
have been charged, the Retail Balance to EMI outstanding will get debited to your card account. For
the closure of the card account, the cardholder has to pay the remaining EMI outstanding appearing
in the bill along with other outstanding.

17. In case of default in payment of EMI on the Due date, your Retail Balance to EMI account
services shall be suspended and could further be terminated. Notwithstanding anything stated above,
the continuation of the Retail Balance to EMI shall be at the sole discretion of BOBCARD and any
outstanding amount shall be payable to BOBCARD on demand. On the other hand, if the card
account is blocked due to the non-payment of the MAD amount,EMI, itself will be
cancelled/terminated & entire amount will be debited in the card account along with applicable fees &
charges.

18. BOBCARD reserves the right at any time, without previous notice, to add, alter, modify, change or
vary all or any of these terms and conditions or to replace wholly or in part this scheme by another
offer, whether similar to the offer or not, or to withdraw it altogether. You will not hold BOBCARD
responsible for, or liable for, any actions, claims, demands, losses, damages, costs, charges, or
expenses, which you may suffer, sustain or incur by the offer.

19. All disputes, if any, arising out of or in connection with or as a result of the offer or otherwise
relating hereto shall be subject to the exclusive jurisdiction of the competent Courts/Tribunals in
Mumbai only.

20. The Cardholder hereby agrees that he/she shall be required to repay the Retail Balance to EMI
amount along with the interest, processing fee and applicable taxes as per the amortization schedule
(illustration given below)

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21. Retail Balance to EMI can only be availed by the eligible Primary BOBCARD holder. Add-on
cardholders cannot apply for the same.

22. Cardholders are not bound in any way to participate in this Offer. Any such participation is
voluntary.

23. Once the Conversion of Retail Balance to EMI offer is availed, the cardholder will not be eligible
for another such offer till the current Retail Balance to EMI outstanding is fully repaid.

24. Cardholders can opt for the option of foreclosure after payment of applicable foreclosure charges
& outstanding amount. For Foreclosure, Cardholder has to write to [email protected] from the e-
mail id registered with us or can be requested through the Mobile App. BOBCARD team will check the
lock-in period ( if any) & will decline the request if a request of foreclosure is received within the lock-
in period (if any) of availing this offer.

25. The Rate of Interest applicable for Retail Balance to EMI is cardholder-specific as decided by
BOBCARD at its sole discretion and intimated to the cardholder before availing the facility.

26. The rate of interest for Retail Balance to EMI will be higher than the Benchmark rate (Minimum
Indicative yield).

B. INSTA MONEY: -

Instant Money on Credit Card (Exclusive offer for selected BOBCARD holders)

1. The Instant Money is sanctioned at the sole discretion of BOBCARD

2. Your availing of the EMI will be deemed to be your unconditional acceptance of the terms and
conditions, in addition to the terms and conditions accepted while applying for BOBCARD, and you
will be bound by the same.

3. Only selected BOBCARD Customers are eligible for the Instant Money. BOBCARD reserves the
right to decide the eligibility as per internal policy and guidelines.

4. The Instant Money once approved and processed cannot be cancelled.

5. Interest rate confirmed at the time of applying will be applicable. The rate of interest applicable will
be cardholder-specific as decided by BOBCARD at its sole discretion and intimated to the cardholder
before availing the facility of instant money.

6. Interest is calculated using the reducing balance method.

7. Tenure confirmed at the time of applying cannot be changed.

8. The Instant Money amount should not be used for any speculative purposes including investment
in capital markets and jewellery.

9. A one-time processing fee will be applicable. Unless communicated otherwise, the processing fee
will be 2% of the Instant Money amount, subject to a minimum of ₹299 whichever is higher (exclusive
of GST). Processing fees charged will not be reversed under any circumstances.

10. The Instant Money will be processed subject to the Open to Buy (OTB) limit i.e. the Instant Money
amount should be less than or equal to OTB at the time of processing the Instant Money request.

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11. The Credit Limit on your BOBCARD will be blocked to the extent of the Card on Instant Money
amount and will be released as the repayments are done.

12. For the First EMI, interest will be calculated from the Instant Money booking date till the payment
due date. This is applicable only for the First EMI; interest for the remaining EMIs will be as per the
statement cycle.

13. Monthly payment dues will include EMI and GST on the interest amount of the EMI. This will be
billed in the monthly statement starting from the immediate billing cycle date and be part of the
Minimum Amount Due (MAD) appearing in your monthly BOBCARD statement. Payment of MAD is
required to keep your card in regular status.

14.Please note that EMI = Principal Amount + Interest Amount. Monthly Instant Money Repayment =
EMI + GST on Interest amount of EMI.

Example: -
Principal – ₹10,000, Tenure - 6 Months, Interest rate = 16%**, GST – 18%* of the interest component

Period Opening Principal Interest EMI (P+I) GST (Rs) Closing

Principal (₹) Charged Charged (Rs) Principal
(Rs) (Rs) balance
(Rs)
Month 1 10000 1618.71 116.6 1735.37 21.00 8381.28
Month 2 8381.28 1637.59 97.70 1735.37 17.60 6743.68
Month 3 6743.68 1656.70 78.67 1735.37 14.16 5086.98
Month 4 5086.98 1676.03 59.34 1735.37 10.68 3410.94
Month 5 3410.94 1695.58 39.79 1735.37 07.16 1715.36
Month 6 1715.36 1715.36 20.01 1735.37 03.60 00

*GST will be applicable as per prevalent tax laws. Tax laws are subject to change/amendment from
time to time by the Government of India.

** Calculation is on the basis of 16%. So, the Amount will differ in case of a change in Interest Rate.

15. Partial pre-payment or partial closure is not permitted on this Instant Money.

16. The Instant Money once approved and processed can only be pre-closed. In case of pre-closure
of the Instant Money, a charge, currently, 3% of the balance principal outstanding will be applicable.
Along with pre-closure charges, pro-rata interest applicable and the credit card outstanding balance at
the time of pre-closure have to be repaid for the pre-closure of the Instant Money. Additional interest if
any on the principal outstanding from the last statement date till the date of Instant Money pre-closure
will need to be paid.

17. GST levied will not be reversed on any dispute on Fees, Charges or Interest.

18. If your BOBCARD gets cancelled (either by card holder / by BOBCARD) before all the instalments
have been charged, the Instant Money outstanding will get debited to your card account. For the
closure of the card account, the cardholder has to pay the remaining EMI outstanding appearing in
the bill along with other outstanding.

19. In case of default in payment of EMI on the Due date, your Instant Money account services shall
be suspended and could further be terminated. Notwithstanding anything stated above, the
continuation of the Instant Money shall be at the sole discretion of BOBCARD and outstanding will be
payable to BOBCARD on demand.

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20. BOBCARD reserves the right at any time, without previous notice, to add, alter, modify, change or
vary all or any of these terms and conditions or to replace wholly or in part this scheme by another
offer, whether similar to the offer or not, or to withdraw it altogether. You will not hold BOBCARD
responsible for, or liable for, any actions, claims, demands, losses, damages, costs, charges, or
expenses, which you may suffer, sustain or incur by the offer.

21. All disputes, if any, arising out of or in connection with or as a result of the offer or otherwise
relating hereto shall be subject to the exclusive jurisdiction of the competent Courts/Tribunals in
Mumbai only.

22. The terms and conditions contained in the Card member Agreement apply over and above the
terms and conditions for this Instant Money.

23. Instant Money will be disbursed to the bank account within 2 to 5 Working Days of getting the
request by BOBCARD

24. BOBCARD will not be responsible for any loss incurred by the Cardholder because of any
incorrect information provided by the Cardholder concerning NEFT or the account details shared by
the Cardholder details. The Cardholder hereby agrees that upon the amounts being credited to the
account details shared by the cardholder, he/she shall be required to repay the Instant Money amount
along with the interest, processing fee and applicable taxes as per the amortization schedule
(illustration given below).

25.No requests from the Add-on being an additional BOBCARD Cardholder other than the primary
Cardholder will be entertained for booking of Offer or availing benefits under this offer.

26. Cardholders are not bound in any way to participate in this Offer. Any such participation is
voluntary.

27. Once Instant Money on Credit Card offer is availed; cardholder will not be eligible for another such
offer till the current Instant Money outstanding is fully repaid.

28. Once the Instant Money on Credit Card offer is availed; cardholder cannot foreclose it within 3
months of availing of this offer. Post this cooling off period, cardholders can opt for the option of
foreclosure after payment as applicable foreclosure charges & outstanding amount. For Foreclosure,
CH has to write to [email protected] or can request through the Mobile App.BOBCARD team will
check the lock-in period & will decline the request if a request of foreclosure is received within the
lock-in period of 3 months of availing this offer.

29. The Rate of Interest applicable for Instant Money is cardholder-specific as decided by BOBCARD
at its sole discretion and intimated to the cardholder before availing the facility.

30. The rate of interest for Instant Money will be higher than the Benchmark rate (Minimum Indicative
yield).

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C. Pre-Purchase EMI: -

1. The EMI facility is sanctioned at the sole discretion of BOBCARD

2. The T&C that EMI conversion requests for Pre-purchase EMI requests would be processed in
3-4working days from the date of the transaction
3. Your availing of the EMI facility will be deemed to be your unconditional acceptance of the
terms and conditions and you will be bound by the same.
4. Only selected BOBCARD Customers are eligible for the EMI facility. BOBCARD reserves the
right to decide the eligibility as per internal policy and guidelines.
5. The EMI facility can’t be availed for the conversion of gold, jewellery, cash and fuel
transactions into EMI as per internal policy and guidelines.
6. Instant EMI facility is available at selected merchant websites and merchant outlets.
7. Instant EMI needs to be availed at the time of doing the transaction at the merchant outlet or
merchant website. It is not a backend conversion process. In the case of merchant websites
offering BOBCARD Instant EMI/BOBCARD, the ‘BOBCARD’ EMI option & required tenure
need to be selected on the payment page of the merchant website. BOBCARD is not liable to
or responsible for converting transactions wherein the 'BOBCARD' EMI option was not
chosen by the cardholder or in case of technical issues at the merchant's end in routing the
transaction to the Bank/BOBCARD as an EMI transaction
8. In case of transactions done at physical outlets of merchants (POS transactions), please
check with the merchant on the availability of the Instant EMI facility BEFORE swiping your
BOBCARD. Instant EMI on POS transactions is valid on swipes done at selected partners
only. Please ensure that the intention to avail the BOBCARD Instant EMI along with the
tenure option is communicated to the merchant before swiping the card. The charge slip
generated post swipe will indicate the Instant EMI tenure, Transaction Amount, Merchant
Payback, EMI facility Amount, Instant EMI Finance Charges (% on reducing balance per
annum) and EMI value. Please highlight to the merchant immediately if the tenure is not
appearing/wrongly appearing. BOBCARD is not liable for erroneous swipes done by
merchants e.g. Swipe done as a regular transaction instead of swiping as an Instant EMI
transaction or swipe done on another Bank swipe machine. BOBCARD is also not liable to or
responsible for converting such erroneous transactions to Instant EMI transactions at the
backend.
9. Please ensure that all terms & charges mentioned on the charge slip are read before signing
on the same. The cardholder can ask the merchant to void the transaction if he/she is not in
agreement with the terms/charges. Once a transaction is settled by a merchant, BOBCARD
will deem charge slip as ‘customer consent’ for Instant EMI terms, conditions and charges
10. Monthly payment dues will include EMI and GST on the interest amount of the EMI. This will
be billed in the monthly statement starting from the immediate billing cycle date and be part of
the Minimum Amount Due (MAD) appearing in your monthly BOBCARD statement. Payment
of MAD is required to keep your card regular.
11. Please note that EMI = Principal Amount + Interest Amount, Monthly EMI facility Repayment
= EMI + GST on Interest amount of EMI. And same will apply to “No Cost EMI” also.

Example: -
Principal – ₹10,000, Tenure - 6 Months, Interest rate = 16%**, GST – 18%* of the interest
component

Period Opening Principal Interest EMI (P+I) GST (₹) Closing

Principal Charged Charged (₹) Principal
(₹) (₹) (₹) balance (₹)
Month 1 10000 1618.71 116.6 1735.37 21.00 8381.28
Month 2 8381.28 1637.59 97.70 1735.37 17.60 6743.68
Month 3 6743.68 1656.70 78.67 1735.37 14.16 5086.98
Month 4 5086.98 1676.03 59.34 1735.37 10.68 3410.94
Month 5 3410.94 1695.58 39.79 1735.37 07.16 1715.36
Month 6 1715.36 1715.36 20.01 1735.37 03.60 00

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 *GST will be applicable as per prevalent tax laws. Tax laws are subject to change/amendment
from time to time by the Government of India.
** Calculation is based on 16%. So, the Amount will differ in case of a change in Interest
Rate.

12. Partial pre-payment or partial closure is not permitted on this EMI facility.

13. The EMI once approved and processed can only be pre-closed. In case of pre-closure of the
EMI, a charge of 3% of the balance principal outstanding or minimum ₹299, which ever is
higher will be applicable. Along with pre-closure charges, pro-rata interest applicable and the
credit card's outstanding balance at the time of pre-closure have to be repaid for pre-closure
of the EMI. Additional interest if any on the principal outstanding from the last statement date
till the date of EMI pre-closure needs to be paid by the customer.

14. For Foreclosure, Cardholder has to write to [email protected] or can request through the
Mobile App.

15. Existing EMI will not be automatically closed due to refunds or payment of total dues and
customers need to write in to [email protected] for closure of the running EMI.
16. In case of partial return or cancellation of any transaction where an EMI is already running,
only a partial refund of the cancelled /returned product will be done. However, the ongoing
EMI will continue as it is with the actual amount and no change in the same will be accepted.
The refund amount will be credited back to the card balance under the normal settlement
cycle and in case of any query please raise to [email protected] .

17. To check the status of the refund (full or partial) due to return/cancellation, please contact the
seller or the merchant where the transaction was done or please write to us at
[email protected] .
18. The applicable GST would be dependent on place of provision (POP) and place of supply
(POS). If POP and POS are in the same state then applicable GST would be CGST and
SGST/UTGST else, IGST.
19. GST for FEE & Charges / Interest transactions Billed on statement date will reflect in next
month's statement.
20. GST levied will not be reversed on any dispute on fees & Charges/interest.
21. The EMI facility once approved and processed cannot be cancelled.
22. Interest rate and processing fees confirmed at the time of applying will be applicable. The
interest is calculated using the reducing balance method.
23. Tenure confirmed at the time of applying cannot be changed.
24. Processing fees will not be reversed under any circumstances.
25. The EMI facility amount will be blocked against the credit limit.
26. If your BOBCARD gets closed before all the instalments have been charged, the EMI facility
outstanding will get debited to your card account.
27. In case of default in payment of EMI on the Due date, your EMI facility account services shall
be suspended and could further be terminated. Notwithstanding anything stated above, the
continuation of the EMI facility shall be at the sole discretion of BOBCARD and outstanding
will be payable to BOBCARD on demand.
28. BOBCARD reserves the right at any time, without previous notice, to add, alter, modify,
change or vary all or any of these terms and conditions or to replace wholly or in part this
scheme with another offer, whether similar to the offer or not, or to withdraw it altogether. You
will not hold BOBCARD responsible for, or liable for, any actions, claims, demands, losses,
damages, costs, charges, or expenses, which you may suffer, sustain or incur by the offer.
29. All disputes, if any, arising out of or in connection with or as a result of the offer or otherwise
relating hereto shall be subject to the exclusive jurisdiction of the competent Courts/Tribunals
in Mumbai only.
30. The terms and conditions contained in the Card member Agreement apply over and above
the terms and conditions for this EMI facility.

7
 31. For any dispute resolution related to pre-purchase EMI or EMI subvention or no no-cost EMI
interest or cash back through Offline Transaction, it is mandatory to share a clear copy of the
charge slip received at the time of transaction of the original bill copy. Without the charge slip
and bill copy, BOBCARD will have the right to decide on the dispute resolution as per the
company policy.

D. Post Purchase EMI: -

1. The EMI is sanctioned at the sole discretion of BOBCARD

2. Your availing of the EMI will be deemed to be your unconditional acceptance of the terms and
conditions and you will be bound by the same.
3. Only selected BOBCARD Customers are eligible for the EMI. BOBCARD reserves the right to
decide the eligibility as per internal policy and guidelines.
4. The EMI can´t be availed for the conversion of gold, jewellery, cash and fuel transactions into
EMI as per internal policy and guidelines.
5. Statemented transactions cannot be converted into EMI
6. Monthly payment dues will include EMI and GST on the interest amount of the EMI. This will
be billed in the monthly statement starting from the immediate billing cycle date and be part of
the Minimum Amount Due (MAD) appearing in your monthly BOBCARD statement. Payment
of MAD is required to keep your card regular.
7. Please note that EMI = Principal Amount + Interest Amount, Monthly EMI Repayment = EMI +
GST on Interest amount of EMI.
Example: -
Principal – ₹10,000, Tenure - 6 Months, Interest rate = 16%**, GST – 18%* of the interest
component

Period Opening Principal Interest EMI GST (₹) Closing

Principal Charged Charged (P+I) (₹) Principal
(₹) (₹) (₹) balance (₹)
Month 1 10000 1618.71 116.6 1735.37 21.00 8381.28
Month 2 8381.28 1637.59 97.70 1735.37 17.60 6743.68
Month 3 6743.68 1656.70 78.67 1735.37 14.16 5086.98
Month 4 5086.98 1676.03 59.34 1735.37 10.68 3410.94
Month 5 3410.94 1695.58 39.79 1735.37 07.16 1715.36
Month 6 1715.36 1715.36 20.01 1735.37 03.60 00

*GST will be applicable as per prevalent tax laws. Tax laws are subject to change/amendment
from time to time by the Government of India.
** Calculation is based on 16%. So, the Amount will differ in case of a change in Interest
Rate.

8. Partial pre-payment or partial closure is not permitted on this EMI.

9. The EMI once approved and processed can only be pre-closed. In case of pre-closure of the
EMI, a charge of 3% of the balance principal outstanding will be applicable. Along with pre-
closure charges, pro-rata interest applicable and the credit card's outstanding balance at the
time of pre-closure have to be repaid for pre-closure of the EMI. Additional interest if any on
the principal outstanding from the last statement date till the date of EMI pre-closure, needs to
be paid by the customer.
10. For Foreclosure, CH has to write to [email protected] or can request through the Mobile
App.
11. Existing EMI will not be automatically closed due to refunds or payment of total dues and
customers need to write in to [email protected] for closure of the running EMI.
12. The applicable GST would be dependent on place of provision (POP) and place of supply
(POS). If POP and POS are in the same state then applicable GST would be CGST and
SGST/UTGST else, IGST.

8
 13. GST For FEE & Charges / Interest transactions Billed on statement date will reflect in next
month's statement.
14. GST levied will not be reversed on any dispute on fees & Charges/interest.
15. The EMI once approved and processed cannot be cancelled.
16. Interest rate and processing fees confirmed at the time of applying will be applicable. The
interest is calculated using the reducing balance method.
17. Tenure confirmed at the time of applying cannot be changed.
18. Processing fees will not be reversed under any circumstances.
19. The EMI amount will be blocked against the credit limit.
20. If your BOBCARD gets closed before all the instalments have been charged, the EMI
outstanding will get debited to your card account.
21. In case of default in payment of EMI on the Due date, your EMI account services shall be
suspended and could further be terminated. Notwithstanding anything stated above, the
continuation of the EMI shall be at the sole discretion of BOBCARD and outstanding will be
payable to BOBCARD on demand.
22. BOBCARD reserves the right at any time, without previous notice, to add, alter, modify,
change or vary all or any of these terms and conditions or to replace wholly or in part this
scheme with another offer, whether similar to the offer or not, or to withdraw it altogether. You
will not hold BOBCARD responsible for, or liable for, any actions, claims, demands, losses,
damages, costs, charges, or expenses, which you may suffer, sustain or incur by the offer.
23. All disputes, if any, arising out of or in connection with or as a result of the offer or otherwise
relating hereto shall be subject to the exclusive jurisdiction of the competent Courts/Tribunals
in Mumbai only.

The terms and conditions contained in the Card member Agreement apply over and above the terms
and conditions for EMI on BOBCARD.