Indian Overseas Bank Credit Card

More on this page: Features and Benefits Fees and Charges Eligibility and Documents Required How to Apply for IOB Credit Cards IOB Credit Card Customer Care FAQs

Indian Overseas Bank in association with VISA has introduced 2 credit card variants- IOB Gold and IOB Classic. You can use your credit card for withdrawing cash from any of the IOB’s InstaCash ATM and all ATMs that display the VISA logo. The salient features of both the cards are mentioned below:

The cards are accepted and recognized globally and can be used at many merchant establishments. The features and benefits of the cards are mentioned below:

Global Acceptance- Both the credit cards are accepted worldwide at POS terminals and ATMs that support VISA network.

Add-on Cards- You can get add-on cards for your family members. You can take up to 4 supplementary credit cards.

Cash Withdrawal- IOB Credit Cards also offer the cash withdrawal facility wherein you can visit the nearest ATM and withdraw cash up to 40% of your credit limit.

Flexible Payment Option– You can choose to pay either the total amount due or the minimum amount due on your credit card. High-value transactions can also be converted into EMIs.

Suggested Read: Best Credit Cards with Airport Lounge Access

Credit Limit- Both IOB Gold and IOB Classic have different credit limits

IOB Gold Credit Card	IOB Classic Credit Card
Rs.60,000 to Rs.5 lakh	Rs.10,000 to Rs.50,000

Insurance Cover- Both the credit cards provide an accident insurance cover of the following value:

Insurance Cover	IOB Gold Credit Card	IOB Classic Credit Card
Personal Accident (Death due to Air Crash)	Rs.10 lakh (self) Rs.2 lakh (spouse)	Rs.4 lakh (self) Rs.2 lakh (spouse)
Personal Accident (Death due to Road / Rail)	Rs.2 lakh (self) Rs.1 lakh (spouse)	Rs.2 lakh (self) Rs.1 lakh (spouse)
Baggage Insurance	Rs.0.25 lakh	Rs.0.25 lakh
Purchase Protection	Rs.0.25 lakh	Rs.0.25 lakh

The table given below shows the fees and charges associated with Indian Overseas Bank Credit Card:

Fee/Charge	Amount/Rate
Annual Fee	Nil (for non-photo card) Rs. 100 for photo card
Card Replacement Fee	Rs. 100
Duplicate Statement Fee	Rs. 50
Original Charge Slip Fee	Rs. 300
Late Fee	Rs. 100
Finance Charges (on revolving credit)	24% per annum
Cash Advance Fee	Rs. 22.50 per Rs. 1,000/- or part thereof
Interest Rate on Cash Advance	24% p.a. from withdrawal date till settlement date
Cash Withdrawal Charges from other bank ATMs	Rs. 100/- per withdrawal Rs. 20/- per balance enquiry
Foreign Exchange Mark-up Fee	2.5%

Indian Overseas Bank has set certain criteria which you are required to fulfil in order to get approved for your credit card. The main parameters include credit score, age, monthly income, location etc. However, it is to be noted that the eligibility criteria for different credit card variants may vary. Also, approval or rejection is at the sole discretion of the bank.

Indian Overseas Bank Credit Card Documents Required

You will be required to submit relevant documents which will include identity proof, income proof and address proof. Given below is the list of documents that may be accepted.

• Proof of Identity: PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI
• Proof of Address: Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 month’s old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement
• Proof of Income: Latest one or 2 salary slip (not more than 3 months old), Latest Form 16, Last 3 months’ bank statement

In order to apply for Indian Overseas Bank Credit Card, you need to visit the nearest IOB branch. Follow the below-listed instructions:

• Go to the bank’s representative and request for the credit card application form
• Fill the application form with all the required information
• Submit the duly filled form along with the relevant documents
• The bank will review and verify your application
• After successful verification, the credit card will be dispatched to your registered address

How To Download Indian Overseas Bank Credit Card Application Form Online?

You can download the credit card application form online. Follow the below-listed instructions:

1. Visit the official website of Indian Overseas Bank.
2. On the homepage, go to the ‘Digital Banking’ section.
3. Select the ‘Credit Card’ option and proceed further.
4. In the newly opened page, click on the ‘Visa Card Application Form’ option.
5. Take a print out of the form, fill out the required information and submit the form along with the required documents at the nearest IOB branch.

The contact details of IOB Credit Card Customer Care are mentioned below. You can contact the bank for any credit card related complaint or query. Dial 18004257744 (Toll-Free) Or 044-28519573 /9574 / 9575

What is the minimum and maximum limit for IOB Credit Card?
The minimum and maximum credit card limit for Indian Overseas Bank (IOB) credit cards varies depending on the card type, applicant’s income, and creditworthiness. The exact limit is determined after evaluating your financial profile and repayment capacity.

What are the annual fees and hidden charges for IOB Credit Cards?
IOB credit cards come with different annual fees based on the card variant. Apart from the annual fee, there may be charges for late payments, cash withdrawals, exceeding the credit limit, and foreign transactions. It is advisable to check the terms and conditions carefully before applying for a credit card.

What are the reward benefits offered by IOB Credit Card?
IOB credit cards offer reward points on eligible spends, which can be redeemed for merchandise, vouchers, or cashback depending on the card type. Some cards also offers accelerated rewards on categories like shopping, dining, fuel, or travel.

What is the minimum CIBIL score required to apply for an Indian Overseas Bank Credit Card?
To apply for an IOB credit card, a minimum CIBIL score of around 750 is generally recommended. However, the exact score requirement may vary depending on the card type and applicant profile.

Is a third-party guarantee required to apply for an IOB Credit Card?
Generally, a third-party guarantee is not required for standard IOB credit cards if you meet the eligibility criteria and have a stable income.

What should I do in case my IOB Credit Card is lost or the card details are compromised?
If your IOB credit card is lost or the details are compromised, immediately contact the bank’s customer care to block the card and prevent unauthorized transactions. You should also report the loss via the IOB internet banking portal or mobile app and request a replacement card.

Can NRI apply for IOB Credit Card?
Yes, Non-Resident Indians (NRIs) can apply for Indian Overseas Bank credit cards, provided they meet the eligibility criteria, including income proof, valid NRI bank account, and KYC documentation.

Can I withdraw cash from my IOB Credit Card through ATM?
Yes, IOB credit cardholders can withdraw cash through ATMs. However, this attracts a credit card cash withdrawal fee and a higher interest rate from the day of the transaction, and it is not included in the interest-free credit period. Therefore, it is advisable not to withdraw cash using a credit card.