IOB RuPay Select Credit Card
IOB's top RuPay card, for credit limits of ₹2 lakh to ₹5 lakh: no joining fee, ₹500 a year (waived on ₹1 lakh of annual spend), one reward point per ₹100 worth ₹0.25, and two domestic lounge visits a quarter. 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 | ₹500 plus GST MITC |
| Annual fee waiver | On ₹1,00,000 of spend in the year MITC |
| 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 Terms.
| Spend | Earns | Cap |
|---|---|---|
| All spends: 1 reward point per ₹100 | 1 point per ₹100 Terms | no cap on record |
One reward point per ₹100 spent; at least 1,000 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: 2 domestic airport lounge visits a quarter and 2 international lounge visits a calendar year Product page
- Fuel: 1% fuel surcharge waived on fills of ₹400 to ₹5,000, up to ₹250 a billing cycle Product page
Also on this card
Quoted from Indian Overseas Bank; not counted in the net value.
- 1 reward point for every ₹100 spent, each point worth ₹0.25 Terms
- Personal accident cover of ₹10 lakh from NPCI 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
- The card page's reward line for Select repeats the Platinum wording ("Spent on RuPay Platinum Credit Cards ... Minimum 1000 Reward Ppoints"); IOB's RuPay FAQ gives one point per ₹100 on Select cards, the figure used here.
The quotes behind the figures
19 figures, each copied from an official Indian Overseas Bank document.
Show every quote and source
“RuPay Select NIL 500+GST NIL Rs.1,00,000/-”
“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.”
“Each point will have a value of Rs. 0.25.”
“One Reward Point for every Rs. 100/- spent on Platinum, Signature and Select 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.”
“One Reward Point Shall be Provided for Every Rs. 100/- Spent on RuPay Platinum Credit Cards. Each Point will have a Value of Rs. 0.25. Minimum 1000 Reward Ppoints are Required for Redemption.”
“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.”
“IOB RuPay Select Cardholder is Eligible for 2 Domestic Lounge Access per Quarter and 2 International Lounge Access per Calendar Year.”
“1% Fuel Surcharge Waiver at All Fuel Stations Across India on Transactions Between Rs. 400/- and Rs. 5000/- The Waiver Shall be Capped at Rs. 250/- per Billing Cycle.”
“Cardholder is Eligible for Personal Accident Insurance Cover of Rs. 10 lakhs Provided by NPCI.”
“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 Select is the Super-premium Variant of IOB RuPay Credit Card. It has the Minimum Credit Limit of Rs. 150000/- for Staff and Rs. 200000/- for Public and Maximum Credit Limit of Rs. 500000/- for Staff and Public.”
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