Bank of Baroda ICSI Diamond Credit Review

Bank of Baroda ICSI Diamond Credit is a co-branded credit card issued by BOB Financial Solutions Ltd (BFSL), a wholly-owned subsidiary of Bank of Baroda (BoB), in co

llaboration with the Institute of Company Secretaries of India (ICSI). This is an exclusive co-branded credit card for Company Secretaries (CS). Here is a detailed review of this card.

Table of Contents

  1. Joining and Annual Fees
  2. Welcome Benefits
  3. Benefits
  4. Complimentary Lounge Access benefits
  5. Complimentary Insurance
  6. Pros and Cons
  7. Eligibility Criteria
  8. Bottom-line
Bank of Baroda ICSI Diamond Credit
Bank of Baroda ICSI Diamond Credit

Bank of Baroda ICSI Diamond Credit Joining and Annual Fees

  • Joining Fees: NIL
  • Renewal Fees: NIL

There are no joining and annual fees. That’s great. All credit cards issued by BoB for professionals like CA, CMA, and CS are free from Joining and Renewal Fees.

Welcome Benefits

  • Complimentary 6 Months FITPASS PRO with Rs. 15,000/-

BOB ICSI Diamond Credit Benefits

BOB ICSI Diamond Credit provides you Regular RewardsAccelerated rewards, and Milestone Rewards. Here are all the benefits.

Regular Rewards

  • Rewards:1 rewards points for every Rs.100 spent (1%)
  • Rewards Points Value: 1 reward points are equal to o.25ps
  • Default Rewards rate: 1%

The benefits provided by this card are equal to all other professional credit, Like the BoB Exclusive Credit Card for ICAI Members and Bank of Baroda CMA One Credit Card.

Accelerated Rewards

  • 5 Rewards points for every Rs.100 spent on dining, online, and utility bills.
  • 999 Bonus rewards points on 5 transaction Rs.1000 or more each month.

BOB ICSI Diamond Credit also gives rewards points on the Utility bill spends @ 1.25%. Normally all credit card issuers avoid giving rewards points on utility bills. 1000 rewards points on 5 transactions Rs.1000 or more each month gives a 5% rewards rate, an exception.

Milestone Rewards

  • Transaction Bonus: Swipe your credit card within 30 Days of Issuance and Get 1000 rewards points value Rs.250
  • Bonus Rewards Points: Get 3,999 reward points every quarter, on spending more than your card’s credit limit.

The concept that you spend should exceed your credit limit within a quarter to qualify for Bonus rewards points is unique. Let assume your credit card limit is Rs. 1,00,000/-, and then you should be spending at Rs.1,00,000/- within three months to qualify for Bonus rewards points of 4000. Bonus rewards points accelerate the regular rewards points by 1% so that the total rewards rate would be 2% on your credit card.

Complimentary Lounge Access benefits

  • 3 Complimentary Domestic airport Lounge access benefits Per Quarter( Total 12 Per year)
  • Lounge Access benefits are available on MasterCard Network.
  • Foreign Currency Mark Up is only 2%
  • Visit BOB Financial website for List of Available Domestic Airport where Lounge benefits are available.

This credit card does not have Joining and Annual Fees. Normally credit cards that do not charge Fees do not provide lounge access benefits.

Complimentary Insurance

BOB ICSI Diamond Credit is an exclusively made credit card for Company Secretaries, so it also offers Professional Indemnity Insurance which is not available for a normal credit card.

  • Professional Indemnity Insurance Cover of Rs. 5 Lakh
  • Air accident death cover of Rs.15 Lakhs
  • Non-air accident death cover of Rs. 5 Lakhs
  • Insurance cover only available to the Primary Cardholder.
  • No, Documents are provided for Insurance.
  • In the case of No use of credit card. The insurance facility will be withdrawn

Professional Indemnity Insurance policy applies to only CS individual members who are in practice and holding valid Certificate of Practice (CoP) both at the time of Bank of Baroda ICSI Diamond Credit issuance and at the time of submission of a claim, for the claim to be processed by the insurance company.

Pros and Cons Bank of Baroda ICSI Diamond Credit


  • NO Joining and Renewal Fees
  • Default Rewards Rate 1%
  • Free 3 Per Quarter Lounge access benefits
  • Milestone and accelerated rewards points
  • Rewards points on Utility Bill also.
  • Special Professional Indemnity Insurance Cover of Rs.5 Lakh


  • No International Lounge access.

Eligibility Criteria and Documents required Bank of Baroda ICSI Diamond Credit


  • You should be active members of ICSI
  • Add on cardholder should be above 18 years.
  • You should be resident of India.


  • ID Proof– PAN Card Photocopy
  • Professional Proof– Photocopy of ICSI Membership Card
  • Address Proof– Voter ID Card, Aadhar Card, Copy of Passport etc..
  • One Photograph
  • Income Proof : Latest Salary Slip/latest ITR, Or Copy of other Credit card.


Bank of Baroda ICSI Diamond Credit Review
Bank of Baroda ICSI Diamond Credit

Bank of Baroda ICSI Diamond Credit made exclusively for Company Secretaries. You should be members of ICSI for getting this credit card.The Default rewards rate 1 %, when we add Milestone and accelerated rewards rate, the total rewards rate exceed 2%. Its very good credit card if you consider Joining and Renewal Fees.

Editor's Rating:

I think you should have this credit card in your wallet. It’s a Lifetime Free credit card.

What’s your take on this credit card ?… Please share in the comments box below.

10 thoughts on “Bank of Baroda ICSI Diamond Credit Review”

  1. I am a senior member of Institute of Company Secretaries of India from Kolkata. One, Ms. Tagari Biswas, contacted me and asked for submission of required documents to email address for issue of the credit card in my favor. I sent all those documents through email on 19th October, 2020. Then I got a sms from the bank stating that my credit card application no. 560782086 in under process on 05-11-2020. Thereafter, one verification call came and I answered all the questions asked over phone. But till then neither the Credit Card nor any communication received from the Bank’s end. I am scared since my all submitted documents are already there with the Bank. Can u help me in this regard?

  2. Hi ,i got my ICSI credit card and i started utilizing it as well but no reward points has been added to the account what to do next? card has been issued on 1st jan 2021

  3. I have applied ICSI Credit Card – DIMOND through online application on BOB financial website and all documents have been submitted and also digitally signed through Leegality e sign facility. But till date no any response or reply received now what to do?


  4. Hi have ICSI BOB diamond credit card. At the time of application I was told that the card is absolutely free but my statement for the Sept 2021 shows that 1465 charges have been levied as financial charges. I have tried contacting the customer care but it’s a waste of time as they are akways busy and no one speaks. I had sent emails to but I have not received any reply in last 2 days.. I am feeling cheated and I am going to file a complaint with the institute regarding this


Leave a Comment