IOB RuPay Classic Credit Card
IOB's basic RuPay card, issued for credit limits of ₹10,000 to ₹50,000: no joining or annual fee, one reward point per ₹150 worth ₹0.25 (500 points needed to redeem). Every figure below is copied from Indian Overseas Bank’s own documents; open a figure’s source link to read it there. Official terms last checked 2026-10-21.
Not on record from an official document: the list of spends that earn no reward. CardWise does not estimate these.
Fees and charges
| Joining fee | Nil MITC |
|---|---|
| Annual fee | Nil MITC |
| Annual fee waiver | Not needed |
| GST on fees | 18% |
| Foreign-currency markup | 2.5% of the transaction, plus GST MITC |
Rewards
Reward points, ₹0.25 each when redeemed as stated Product page.
| Spend | Earns | Cap |
|---|---|---|
| All spends: 1 reward point per ₹150 | 1 point per ₹150 Product page | no cap on record |
One reward point per ₹150 spent; at least 500 points are needed to redeem. IOB's RuPay FAQ says points are given on POS and e-commerce transactions of ₹100 and above.
Benefits
- Lounges: none on record
Also on this card
Quoted from Indian Overseas Bank; not counted in the net value.
- 1 reward point for every ₹150 spent, each point worth ₹0.25 Product page
Eligibility
- Salaried or self-employed Product page
- Salaried: monthly income of ₹15,000 or more Product page
- Self-employed: gross annual income of ₹3 lakh or more Product page
The issuer publishes only part of its criteria; approval rests on its own assessment.
Not published by Indian Overseas Bank in the documents read
- the spends that earn no reward points
- whether the RuPay card can be linked to UPI
- a welcome benefit
- an age limit
Where Indian Overseas Bank’s documents differ, and what is used
- Fuel surcharge waiver: the MITC lists a 1% waiver (₹400 to ₹5,000, up to ₹250 a billing cycle) without naming variants, but the card page's feature table shows the waiver only for RuPay Platinum and Select (a dash for Classic); not modelled for Classic.
The quotes behind the figures
16 figures, each copied from an official Indian Overseas Bank document.
Show every quote and source
“RuPay Classic NIL NIL NIL NA”
“i) GST on charges: Currently 18% GST is applicable (as per GOI) on charges applied by bank.”
“c) Forex Conversion Fee: 2.50% on international transactions.”
“One Reward Point Shall be Provided for Every Rs. 150/- Spent on RuPay Classic Credit Cards. Each Point will have a Value of Rs. 0.25. Minimum 500 Reward Points are Required for Redemption.”
“One Reward Point for every Rs. 150/- spent on Classic and Gold Cards.”
“Points will be given for Transactions value of Rs. 100 and above made in POS/E-Com.”
“You can apply for an IOB credit card online through the bank's website ( www.iob.in ) by navigating to Cards > Credit Card > Apply Online, or by visiting the nearest IOB branch.”
“Each point will have a value of Rs. 0.25.”
“d) Fuel Surcharges: Waiver of surcharge 1% on transaction between Rs.400/- to Rs 5000/- (Maximum Rs. 250/- per billing cycle)”
“Applicants with satisfactory credit Information report from Credit Information Company with a CIBIL score of 700 and above or equivalent are eligible for IOB International Credit Card.”
“Persons not having Income Proof, can avail Secured Credit Card against Security of Term Deposit, where the Credit Limit is 90% of the Principal Amount of the term deposit.”
“The current rate of finance charges is 2.50% per month [30% per annum].”
“h) Late Payment fee: If card member fails to pay at least the minimum dues, Late Fee of Rs.100/- will be charged after 3 days from the due date.”
“Minimum monthly income of Rs.15000/- (Rupees fifteen thousand only) per month or above for salaried applicant and minimum Gross annual income of 300,000/- (Rupees three lakhs) or above for the self-employed applicant is required to apply for credit card.”
“Apply for Credit Card”
“RuPay Classic is the Basic Variant of IOB RuPay Credit Card. It has a Minimum Credit Limit of Rs. 10000/- and Maximum Credit Limit of Rs. 50000/- for Public and Rs. 59000/- for Staff.”
Terms change, sometimes without notice. Read the issuer’s current terms before applying. CardWise has no affiliate arrangement with Indian Overseas Bank or any issuer. Issuer names and logos belong to their owners and are shown only to identify each card’s issuer; CardWise is not affiliated with any issuer. The logo is Indian Overseas Bank’s own file from its website, unaltered, fetched 2026-10-21. Methodology