Can I apply if I am not an ICMAI member?

You cannot. The CMA One BOBCARD is restricted to active ICMAI (Institute of Cost Accountants of India) members, and this is checked at the time of application. There's no alternate path in for non-members, no matter how strong their income or credit profile is.

Which network or rail does this card come on?

The base version runs on Mastercard, a network Bank of Baroda and Mastercard chose together back in 2020 when these institute co-brand cards first launched. There's also a RuPay variant, flagged by BOB as UPI-eligible, which lets holders link it to UPI apps — though spends made that way earn only the base 1 point per ₹100 and never qualify for the 5X bonus rate.

What does the card cost?

Just a one-off ₹1 at joining, and nothing thereafter — no annual fee applies. It's actually the only card in the BOBCARD lineup that charges even this token ₹1; its sibling cards, the ICAI Exclusive and ICSI Diamond, charge nothing at all. Practically speaking, that ₹1 is symbolic, and the card costs nothing to hold for as long as you keep it.

What is a BOBCARD reward point worth?

BOBCARD officially values each point at ₹0.25 when redeemed for cashback. Translated into percentage terms, the 5-points-per-₹100 bonus rate comes to roughly 1.25%, while the standard 1-point-per-₹100 rate works out to about 0.25%. As effective return, dining is where this card performs best at 1.25% (with rewards capped at ₹250 a month in that bucket), versus 0.25% elsewhere — these are real returns calculated at the card's own point value, not the raw points-per-₹100 rate issuers usually lead with.

What do fuel and grocery spends earn?

Neither earns anything. Fuel is one of a long list of explicit exclusions from the rewards programme, alongside groceries and supermarkets, rent, education, government payments, insurance, hospitals, wallet loads, rail, bus and toll spends, and even fast-food outlets. That said, the 1% fuel surcharge waiver isn't affected and continues to apply.

How has the CMA One BOBCARD Credit Card changed over time?

The dated Value Timeline on this page counts 9 changes to the CMA One BOBCARD since 2020 — 7 devaluations against just 1 improvement, with the remaining entries being neutral events like the launch or later restructuring. The latest entry raised the finance charge to 3.75% per month, effective 1 July 2025. Every entry links to its source, so any number here can be verified against the issuer's own documentation.

Has the CMA One BOBCARD Credit Card been devalued recently?

It has — our records log 5 devaluations to this card over the last 24 months. Most recently, the finance charge rose to 3.75% per month (45% p.a.) from 3.25% per month (39% p.a.), effective 1 July 2025. For the complete dated list, along with sources for each change, see the Value Timeline further down this page.

When did the CMA One BOBCARD Credit Card's fees last change?

The most recent fee revision came on 1 July 2025, when the finance charge climbed from 3.25% per month (39% p.a.) to 3.75% per month (45% p.a.). Current charges are listed in the fees table on this page, and every earlier fee change on record appears in the Value Timeline.

How did the CMA One BOBCARD Credit Card change in 2025?

2025 brought 6 tracked changes to this card — 5 cuts against a single improvement. These included the removal of reward points on wallet-load transactions, new processing fees on wallet-load, high-value utility and fuel spends, and domestic lounge access being gated behind ₹40,000 of quarterly spend (all effective 1 January 2025), plus three further changes. The most consequential was the finance charge moving from 3.25% per month (39% p.a.) to 3.75% per month (45% p.a.) on 1 July 2025. Full details and sourcing for each change sit in the Value Timeline on this page.

BOBCARDSELECT

CMA One BOBCARD Credit Card

4.0 / 5SarvCred Editorial Review

Check my eligibility

BOBCARD

CMA One BOBCARD Credit Card

Name: CMA One BOBCARD Credit Card
Brand: SarvCred
Rating: 4 (1 reviews)

Mid-tierFee variesRewardsTravelDining

The CMA One BOBCARD is gated: it is offered only to active members of the Institute of Cost Accountants of India (ICMAI). If you are not an ICMAI member you cannot apply, whatever your income or credit score. For members who can, it is an unusually well-equipped near-free card — a token ₹1 joining fee, no annual fee ever, a 2% foreign-currency markup where most of the BOBCARD range charges 3.5%, 12 complimentary domestic lounge visits a year, and free professional indemnity cover up to ₹5 lakh. Earning is the modest part: 1 reward point per ₹100 (about 0.25%) on most spends, and 5 points per ₹100 (about 1.25%) on dining, online and utility bills under a single 1,000-point-per-statement cap shared across all three categories. The bigger lever is the quarterly milestone — 4,000 bonus points, roughly ₹1,000, for every quarter you spend ₹1 lakh. The card is issued on both the Mastercard and RuPay rails; the RuPay variant is UPI-linked. Read the exclusions closely: fuel, groceries, rent, education, government and insurance payments earn nothing at all.

Key features

What this card is built to do — the highlights that actually matter.

🎁

Welcome Benefit

~₹125 in vouchers, points or cashback on card activation

⭐

1.25% on Dining

5 points per ₹100 (~1.25%) on dining, under a 1,000-point/statement cap SHARED with online and utilities; past it, spends drop to 1 point per ₹100. Fast-food outlets (MCC 5814) earn nothing

⭐

1.25% on Online Shopping

5 points per ₹100 (~1.25%) on online spends, under a 1,000-point/statement cap SHARED with dining and utilities; past it, spends drop to 1 point per ₹100. UPI spends earn core points only

✈

️ Airport Lounge Access

3 complimentary visits per quarter at domestic and international airport lounges

🎯

Milestone Bonus

~₹4,000 in bonus rewards on hitting annual spend milestones

📱

UPI Linked

Link to PhonePe, GPay or Paytm and earn credit card rewards on UPI payments

🛡

️ Insurance Cover

Free professional indemnity cover up to ₹5 lakh, air accident death cover of ₹15 lakh and non-air accident death cover of ₹5 lakh — contingent covers, not an annual cash benefit; withdrawable by BOBCARD without notice, and lapses if the card is unused for 90 days before death

Full reward structure

Category	Type	Rate	Monthly cap
Dining	reward points	1.25%	₹250
Online Shopping	reward points	1.25%	₹250
Utility Bills	reward points	1.25%	₹250
Other	reward points	0.25%	—

Fees & charges

Charge	Amount
Annual fee (incl. 18% GST)	Free
Joining fee (incl. 18% GST)	₹1
Finance charge (APR)	3.75% p.m.
Forex markup	2%

Perks & benefits

Estimated annual value beyond rewards — ~₹13,000/yr in total.

✈

️ lounge access ~ ₹6,000 /yr

12 complimentary domestic lounge visits a year (3 per quarter), unlocked only by ₹40,000 of spend in the preceding calendar quarter. No international lounge access

🎯

milestone bonus ~ ₹4,000 /yr

4,000 bonus reward points each quarter you spend more than ₹1 lakh (or your credit limit, whichever is higher) — up to 16,000 points (~₹4,000) a year at ₹1 lakh every quarter

⛽

fuel waiver ~ ₹3,000 /yr

1% fuel surcharge waiver at all fuel stations on transactions of ₹400–₹5,000 (max ₹250 per statement cycle). Fuel spends themselves earn no reward points

🛡

️ insurance

Should you get it?

Best for: Practising Cost Accountants, Members who spend on dining, online and utilities, Occasional international spenders wanting a low forex markup

Mid tier — a solid all-rounder for steady monthly spend.

Strongest value if you spend heavily on Dining ( 1.25% back).

Frequent travellers benefit from the included airport lounge access.

✓ Pros

Effectively free — ₹1 once at joining, then no annual fee ever
2% forex markup, well below the 3.5% most BOBCARDs charge
12 complimentary domestic lounge visits a year (3 per quarter)
Free professional indemnity cover up to ₹5 lakh — relevant to a practising CMA
4,000 bonus points a quarter on ₹1 lakh of spend — the card's biggest reward lever
Up to 3 lifetime-free add-on cards for family

✕ Cons

Only active ICMAI members can apply — the card is closed to everyone else
0.25% base earn rate is weak; the 5X categories are capped at ₹250/month of value
The 1,000-point 5X cap is shared across dining, online and utilities, not per category
Fuel, groceries, rent, education, government and insurance payments earn nothing
Lounge access needs ₹40,000 of spend in the preceding quarter, and is domestic only

Eligibility & documents

Age

21 –75 years

Min. income

₹25,000 /mo

Employment

Salaried · Self-employed

Documents required

ICMAI membership number and proof of active membership
PAN card
Aadhaar / valid address proof
Income proof — salary slips (salaried) or ITR (self-employed)
Recent passport-size photograph

How to redeem rewards

Ways to convert what you earn into real value.

🎁 Cashback / statement credit at 1 reward point = ₹0.25

🎁 Online rewards catalogue (vouchers, merchandise)

What your BOB Reward Points are worth

Realistic value per point by redemption route — the difference is what most people leave on the table.

Statement credit BEST Standard redemption

₹ 0.25 /pt

Gift voucher catalogue BEST Brand & e-gift vouchers

₹ 0.25 /pt

The concern The reward exclusions are unusually wide — fuel, groceries, rent, education, government payments, insurance and wallet loads earn nothing, and the 1,000-point 5X cap is shared across dining, online and utilities rather than granted per category.

The bottom line

On cost alone, this card is close to free — a single ₹1 charge at joining and nothing after, in exchange for a 2% forex rate, 12 lounge visits and professional indemnity cover that would typically carry a fee elsewhere. As a rewards earner it's less impressive: the 0.25% base rate is thin, and the bonus categories cap out at ₹250 of value a month. The real payoff lies in the ₹1 lakh-per-quarter milestone and the low forex markup, which suits a member who spends steadily and travels rather than someone with light, occasional usage.

Sources & verification

Fees, reward rates, and benefits for the CMA One BOBCARD Credit Card are taken from BOBCARD 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 15 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →

Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for BOBCARD . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.

Value timeline

Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.

Tracking since 2020 · 9 changes · last change Jul 2025

▲ Revaluation ▼ Devaluation ◆ Neutral / reversed

2025 6 changes — 5 cuts, 1 improvement

▼ Fee Effective 1 Jul 2025

Finance charge raised to 3.75% per month

3.25% per month (39% p.a.) → 3.75% per month (45% p.a.)

Effective 1 July 2025 BOBCARD revised the monthly finance charge on carried balances and cash advances to 3.75% (45% a year) for all card variants except Eterna, Eterna FD and Tiara. This is the change behind the card's current 3.75%/month rate — it only applies if you revolve a balance or take a cash advance.