Bobcard Limited

What Bobcard Limited does

BOBCARD Limited is a wholly-owned subsidiary of Bank of Baroda, one of India's largest public sector banks, and operates as the group's dedicated credit card issuer. The company markets 27+ credit card variants spanning lifestyle (ETERNA, TIARA, PREMIER, SELECT, EASY), travel (Etihad Guest, Etihad Guest Premium, PREMIER, IRCTC, Scapia), cashback and rewards (Cashback, Uni GoldX, SNAPDEAL), business (Micro Enterprise, CORPORATE, EMPOWER), defense (YODDHA, VIKRAM, VARUNAH, RAKSHAMAH, SENTINEL), professional institute (ICAI Exclusive, ICSI Diamond, CMA ONE), secured (PRIME), and a metal-tier premium card (BOBCARD One). The underlying platform is a digital-first stack built around the BOBCARD mobile app, customer web portal, UPI integration for RuPay credit cards, WhatsApp banking, IVR, and SMS self-service, complemented by physical distribution through Bank of Baroda's 8,200+ branch network.

Revenue is generated through interchange on card transactions, interest on revolving balances (up to 50-day interest-free period), annual and joining fees (many variants Lifetime Free), forex markups, EMI processing and interest on Smart EMI conversions, and revenue share from co-branded partnerships with Etihad Airways, HPCL, IRCTC, Snapdeal, professional institutes, and digital commerce platforms. Customer acquisition runs through a hybrid GTM combining direct-to-consumer digital onboarding, co-branded partner channels, inside-sales via IVR/WhatsApp/SMS, and Bank of Baroda branch cross-selling.

The business is wholly India-domiciled with headquarters in Mumbai, and the May 2026 appointment of Saravanakumar A as MD & CEO signals active portfolio rebalancing and investment in digital and partnership-led growth across retail, MSME, defense, and premium segments.

Name

Bobcard Limited

Legal name

BOBCARD Limited

Website

https://bobcard.co.in

Company type

Private

Operating status

Operating

Short description

BOBCARD Limited, the credit card arm of Bank of Baroda, issues 27+ card variants in India spanning lifestyle, travel, business, defense, and professional segments, distributed digitally and through Bank of Baroda's 8,200+ branches with revenue from interchange, revolving interest, fees, and co-brand partnerships.

Ownership category

akta.pro rank

Product category

Consumer Credit Cards

NAICS

Credit Card Issuing (522210), Credit Card Issuing (52221)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

General-Purpose Credit Card Schemes (FSAMAAAA)

akta.pro secondary industries

Business / Corporate Credit Cards (FSAKABAF), Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Corporate Billing, Statements, Chargeback & Dispute Management (THACAJAJ)

Keywords

• Credit card services
• Co-branded credit cards
• Consumer lending
• RuPay UPI payments
• Digital banking

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Others

Revenue model

1. Credit Card Transaction Fees: Revenue from interchange fees on every card transaction processed through the BOBCARD network
2. Interest on Outstanding Balances: Interest revenue from customers who carry forward balances beyond the grace period (up to 50 days interest-free credit)
3. Joining and Annual Fees: One-time joining fees and annual renewal fees on premium card variants; many cards offered Lifetime Free (LTF) with fee waivers on meeting spend thresholds
4. Foreign Exchange Markup: Forex markup fees (0-1%) on international transactions, with premium cards like Etihad Guest Premium offering 0% forex markup
5. EMI Processing and Interest: Revenue from converting large purchases to Smart EMIs (6-48 month tenures) with processing fees and interest charges
6. Co-Branded Partnership Revenue: Revenue sharing arrangements with co-brand partners including Etihad Airways, HPCL, IRCTC, and professional institutes
7. Reward Point Redemption Costs: Cost center offset by merchant partnerships and interchange fees; reward points earned on spends can be redeemed for cashback, vouchers, and travel

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

BOBCARD Limited issues a portfolio of 22+ credit card variants targeting Indian consumers, businesses, defense personnel, and professionals, with co-branded partnerships across airlines, fuel, travel, e-commerce, and professional institutes. The company runs a digital-first delivery platform comprising a mobile app, customer web portal, UPI-integrated RuPay credit card payments, WhatsApp Banking, SMS Banking, and IVR helplines, while leveraging Bank of Baroda's 8,200+ branch network for physical distribution and cross-selling.

Product overview

Bobcard Limited is a wholly-owned subsidiary of Bank of Baroda offering a comprehensive portfolio of 27+ credit cards in India. The product lineup includes premium lifestyle cards (ETERNA, BOBCARD One with metal card), travel-focused cards (Etihad Guest co-branded cards, PREMIER, IRCTC, Scapia), cashback and rewards cards (Cashback, Uni GoldX, SELECT, EASY), co-branded cards with partners (Snapdeal, HPCL Energie), women's cards (TIARA), business cards (Micro Enterprise, CORPORATE, EMPOWER), secured cards (PRIME), professional association cards (ICAI, ICSI, CMA), defense personnel cards (YODDHA, VIKRAM, VARUNAH, RAKSHAMAH, SENTINEL), regional bank cards (PRAGATI, Nainital Bank Renaissance), and UPI-enabled RuPay credit cards. The portfolio serves diverse segments including retail consumers, business owners, frequent travelers, defense personnel, and professional associations.

Differentiator

Problem solved

Functional benefit

Brands

• ETERNA: Premium lifestyle and travel credit card for high-performers offering lifestyle and travel privileges with smart savings valued upto Rs.81000.
• TIARA
• PREMIER
• BOBCARD Cashback
• BOBCARD One
• BOBCARD Etihad Guest
• BOBCARD Etihad Guest Premium
• HPCL ENERGIE
• BOBCARD Micro Enterprise
• CORPORATE
• EMPOWER

Products and services

• ETERNA Credit Card Premium lifestyle and travel credit card offering lifestyle and travel privileges valued up to ₹81,000, with unlimited airport lounge access and BOGO movie tickets; designed for high-performers seeking smart savings on lifestyle and travel spending.
• BOBCARD Etihad Guest Premium Credit Card Premium co-branded credit card with Etihad Airways offering 6 Miles per ₹100 on Etihad Airways spends, 0% forex markup, unlimited airport lounge access, and milestone bonuses; targeted at high-volume Etihad flyers.
• BOBCARD Etihad Guest Credit Card Co-branded credit card with Etihad Airways offering 3 Miles per ₹100 on Etihad Airways spends, 1% forex markup, and bonus miles on spend milestones; targeted at Etihad Guest program members.
• TIARA Credit Card Premium women's credit card offering accelerated rewards on dining and travel, unlimited airport lounge access, complimentary health packages, lifestyle vouchers from brands like Lakme, Flipkart, Myntra, Nykaa, and complimentary annual memberships.
• BOBCARD Cashback Credit Card Cashback credit card offering 5% cashback on online spends and unlimited 1% cashback on all other spends with seamless auto-credit of cashback every month.
• BOBCARD Micro Enterprise Credit Card Smart credit solution for micro enterprises under the Government of India initiative, supporting UPI payments, interest-free credit, rewards, and fuel savings for micro entrepreneurs managing daily expenses.
• CORPORATE Credit Card Corporate credit card made exclusively for corporates, partnership firms and start-ups facilitating credit for hassle-free and cashless business operations.
• EMPOWER Credit Card Business credit card for proprietors and self-employed segments to manage all business expenses efficiently with cashless convenience and interest-free credit.
• PREMIER Credit Card Premium travel credit card designed for enthusiastic explorers and wandering souls, complementing adventurous lifestyles with travel deals, benefits, and fee waivers.
• HPCL ENERGIE Credit Card Fuel-focused credit card offering up to 60 liters of free fuel, 25% off on movie tickets, and 500 joining rewards, designed for high-mileage lifestyles in partnership with HPCL.
• IRCTC BOBCARD Credit Card Economical travel credit card for train travelers offering up to 10% savings on train tickets, everyday shopping rewards, and 500 bonus rewards, in partnership with IRCTC.
• BOBCARD Scapia Credit Card Travel credit card offering 20% rewards on travel bookings made on the Scapia app in the form of Scapia coins, redeemable for flights, stays, trains, buses, and travel visa.
• BOBCARD Uni GoldX Credit Card Credit card offering 1% value back in Uni Coins on every transaction and 5% value back on Uni store purchases, with coins that grow and appreciate with time and never expire.
• BOBCARD One Metal Credit Card Premium metal credit card built with full-stack tech, backed by principles of simplicity, transparency, and user control, with a dedicated feature-loaded OneCard app for iOS and Android.
• SELECT Credit Card Credit card enhancing lifestyle with accelerated reward points on regular spends, designed for online shopping with exciting offers and great value for money, offered Lifetime Free.
• SNAPDEAL BOBCARD Credit Card Co-branded shopping credit card offering 5% unlimited cashback, shopping vouchers worth up to ₹500, and everyday shopping rewards on Snapdeal.
• EASY Credit Card Credit card for everyday savings offering accelerated rewards, cashback, and fuel surcharge waiver on everyday shopping, offered Lifetime Free.
• PRIME Secured Credit Card Secured credit card against a fixed deposit of ₹15,000 or more with no income proof required, offering lifetime free membership, fuel surcharge waiver, reward points on spends, and guaranteed issuance.
• ICAI Exclusive BOBCARD Credit Card Exclusive credit card designed for ICAI (Chartered Accountants) professionals offering 4000 reward points welcome benefit, airport lounge access, and professional indemnity insurance.
• ICSI Diamond Credit Card Credit card designed for ICSI (Company Secretaries) members with 3999 reward points, airport lounge access, and reward points on spends with world-class privileges.
• CMA ONE Credit Card Credit card for ICMAI (Cost Accountants) professionals offering reward points, complimentary insurance, and 4000 welcome reward points with unmatched benefits.
• Indian Army YODDHA Credit Card Lifetime free credit card designed exclusively for Indian Army personnel with airport lounge access and exclusive memberships.
• VIKRAM Defense Credit Card Lifetime free credit card for defense personnel offering everyday shopping rewards, value-for-money perks, and complimentary services.
• Indian Navy VARUNAH Credit Card Credit card exclusively for Indian Navy personnel with attractive welcome gifts, unlimited airport lounge access, rewards on every spend, and complimentary insurance cover.
• Indian Coast Guard RAKSHAMAH Credit Card Exclusive credit card for Indian Coast Guard personnel complementing discerning lifestyles with benefits, rewards, and privileges, offered Lifetime Free.
• Assam Rifles SENTINEL Credit Card First-ever credit card designed for Assam Rifles, the oldest branch of the Indian Army, with special privileges, savings, rewards, and complimentary insurance.
• PRAGATI Regional Rural Bank Credit Card (BUPB/BGGB/BRKGB) Special credit card for BUPB, BGGB, and BRKGB customers in Uttar Pradesh, Gujarat and Rajasthan respectively, aimed at growth and development of regional rural bank customers.
• Nainital Bank Renaissance Credit Card Credit card made especially for Nainital Bank customers offering 5X rewards, fuel surcharge waiver, and smart EMI option on everyday purchases.

Quantifiable outcome

• Up to ₹81,000 value in lifestyle and travel privileges on ETERNA card
• +4 more outcomes

Named customers1 record

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

20 partnerships are on record, tiered core and minor.

• Etihad Airways (Etihad Guest Program)coreStrategic or Co-development PartnerStrategic co-branded partnership offering BOBCARD Etihad Guest and BOBCARD Etihad Guest Premium credit cards. Customers earn Etihad Guest Miles on every spend with accelerated miles on Etihad bookings. Includes complimentary lounge access, forex benefits, and milestone bonuses. Premium tier offers 0% forex markup and 6 Miles/₹100 on Etihad spends.
• HPCL (Hindustan Petroleum Corporation Limited)coreStrategic or Co-development PartnerCo-branded BOBCARD HPCL ENERGIE credit card offering up to 60 liters of free fuel annually, 25% off on movie tickets, and 500 joining rewards. Designed for high-mileage individuals and frequent travelers.
• IRCTCminorStrategic or Co-development PartnerCo-branded IRCTC BOBCARD credit card offering up to 10% savings on train tickets, everyday shopping rewards, and 500 bonus reward points. Designed for train travelers and rail enthusiasts.
• ScapiaminorStrategic or Co-development PartnerBOBCARD Scapia Credit Card offering 20% rewards on travel bookings made on Scapia app in the form of Scapia coins (travel currency). Coins can be redeemed for flights, stays, trains, buses, and travel visa.
• Uni (Uni Club)minorStrategic or Co-development PartnerBOBCARD Uni GoldX credit card offering 1% value back in Uni Coins on every transaction with 5% value back on Uni store purchases. Coins appreciate in value with time and never expire.
• SnapdealminorGTM or Marketing PartnerSNAPDEAL BOBCARD credit card offering 5% unlimited cashback, shopping vouchers up to ₹500, and everyday shopping rewards. Exclusive offers for Snapdeal shoppers.
• Amazon Pay IndiacoreGTM or Marketing PartnerEMI partnerships offering instant discounts (7.5-10%) on Amazon.in purchases. BOBCARD users get up to ₹3,750 discount per month on electronics, fashion, mobiles, and home categories. Offer valid through June 2026.
• Flipkart (Flipkart Advanz)coreGTM or Marketing PartnerEMI partnerships offering 10% instant discount on Flipkart purchases. Special offers include ₹6,000 off on 2-wheelers, ₹1,500 discount on electronics. Valid through July 2026.
• JioMart (Reliance Retail)coreGTM or Marketing PartnerJioUtsav festive campaign partnership with savings up to ₹25,000 across three sale windows. Offers 5-10% off on electronics, mobiles, fashion, grocery with instant discounts and EMI options.
• ICAI (Institute of Chartered Accountants of India)minorStrategic or Co-development PartnerICAI Exclusive BOBCARD with 4000 reward points welcome benefit, airport lounge access, and professional indemnity insurance. Exclusively for ICAI members.
• ICSI (Institute of Company Secretaries of India)minorStrategic or Co-development PartnerICSI Diamond BOBCARD with 3999 reward points, airport lounge access, and reward points on spends. Exclusively for ICSI professionals.
• ICMAI (Institute of Cost Accountants of India)minorStrategic or Co-development PartnerCMA ONE BOBCARD with reward points, complimentary insurance, and 4000 welcome reward points. Exclusively for ICMAI professionals.
• Indian ArmyminorStrategic or Co-development PartnerIndian Army YODDHA and VIKRAM credit cards - lifetime free cards with airport lounge access and exclusive memberships for Army personnel.
• Indian NavyminorStrategic or Co-development PartnerIndian Navy VARUNAH credit card with reward points, unlimited airport lounge access, and exclusive memberships for Navy personnel.
• Indian Coast GuardminorStrategic or Co-development PartnerIndian Coast Guard RAKSHAMAH credit card - lifetime free with airport lounge access and exclusive memberships for Coast Guard personnel.
• Assam RiflesminorStrategic or Co-development PartnerAssam Rifles The SENTINEL credit card - first-ever credit card for Assam Rifles with special privileges, savings, rewards, and complimentary insurance.
• Nainital BankminorChannel Partner/ Reseller/ DistributorNainital Bank Renaissance BOBCARD with 5X rewards, fuel surcharge waiver, and Smart EMI option. Exclusively for Nainital Bank customers.
• Regional Rural Banks (BUPB, BGGB, BRKGB)minorChannel Partner/ Reseller/ DistributorBUPB/BGGB/BRKGB PRAGATI BOBCARD credit card for customers of regional rural banks in UP, Rajasthan, and Gujarat respectively. Aimed at growth and development.
• CromaminorGTM or Marketing PartnerFestive offers with instant discounts up to ₹20,000 on electronics purchases above ₹2 lakh. Discounts on full payment and EMI transactions.
• MakeMyTripminorGTM or Marketing PartnerTravel offers with up to 35% off on flights, hotels, and holiday bookings every Tuesday and Friday.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SBI Cards and Payment Services: India's largest pure-play credit card issuer by cards-in-force and a listed subsidiary of State Bank of India. Directly comparable as a bank-affiliated mass-market credit card issuer with co-branded partnerships and tiered card portfolio across consumer and business segments.
• ICICI Bank Credit Cards: Major private-sector credit card issuer with strong digital channels, co-branded partnerships (Amazon Pay, MakeMyTrip, HPCL), and broad reward-based variants. Comparable across retail lifestyle, travel, and cashback card categories that overlap directly with BOBCARD's portfolio.
• IDFC FIRST Bank Credit Cards: Mid-size private-sector card issuer with rewards-led and lifetime-free positioning targeting salaried customers. Competes in similar mass-premium and lifetime-free card categories.
• Axis Bank Credit Cards: Top-five Indian credit card issuer with strong travel and rewards positioning (Atlas, Vistara, Flipkart co-brands). Directly comparable in segment depth, co-brand breadth, and tiered premium-to-mid-market card strategy.
• Kotak Mahindra Bank Credit Cards: Private-sector credit card issuer with strong rewards, cashback, and co-branded variants including 811 SuperCards. Comparable customer segments (urban, salaried, lifestyle-focused) and similar digital acquisition channels.
• AU Small Finance Bank Credit Cards: Small finance bank with growing credit card portfolio targeting semi-urban and new-to-credit customers. Comparable secured and entry-level card strategy with focus on financial inclusion segments.
• IndusInd Bank Credit Cards: Mid-tier private bank with travel and lifestyle co-branded credit cards (e.g., Jet Airways legacy, travel partnerships). Comparable premium and travel card offerings overlapping BOBCARD's Etihad and travel segments.
• OneCard (FPL Technologies): Mobile-first metal credit card issuer in India with full-stack technology and a single-app experience. Closely comparable to BOBCARD One metal card; competes for the same digitally-native, premium-positioned customer cohort.
• HDFC Bank Credit Cards: One of India's largest credit card issuers with premium positioning (Infinia, Regalia, Diners Club Black) and deep merchant partnerships. Closely comparable product mix, customer segments, and co-brand strategy; differs as a private-sector bank rather than PSU subsidiary.

Broad incumbents

• Visa (India operations): Global card network whose products and rails underpin much of India's credit card ecosystem. Comparable as a participant in the broader credit card value chain, though BOBCARD issues cards on Visa/Mastercard/RuPay rather than competing as a network.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bobcard-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bobcard Limited