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 add-on 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.

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.

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 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

How long is the interest-free period on IOB Credit Cards?

The interest-free period provided is up to 50 days.

What is foreign exchange mark-up fee?

When you use your IOB credit card in a foreign country, this fee is applicable on the transaction amount. For IOB cards, the rate is 2.50%.

How many add-on cards can I have on my IOB Credit Card?

You can have a maximum number of 4 add-on credit cards.

What is the charge for a photo card?

Indian Overseas Bank offers the facility of customizing your credit card with a photo. If you choose a photo card, you will have to pay an issuance fee of Rs.100.