IOB VISA Platinum Credit Card
IOB's mid-tier Visa card for credit limits of ₹51,000 to ₹2.7 lakh: no joining fee, ₹250 a year (waived on ₹60,000 of annual spend), reward points through Nth Rewards valued at ₹0.25 each. 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 | ₹250 plus GST MITC |
| Annual fee waiver | On ₹60,000 of spend in the year Product page |
| 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 |
IOB's FAQ gives one reward point per ₹100 spent on Platinum cards; the card page adds a 1% flat cashback on selected transactions without naming them.
Benefits
- Lounges: none on record
- Fuel: 1% fuel surcharge waived on fills of ₹400 to ₹5,000, up to ₹250 a billing cycle MITC
Also on this card
Quoted from Indian Overseas Bank; not counted in the net value.
- 1 reward point for every ₹100 spent (IOB FAQ), each point worth ₹0.25 Terms
- 1% flat cashback on selected transactions (not named) Product page
- Personal accident insurance cover of up to ₹10 lakh Product page
- Discounts on online courses (Coursera, edX, Udemy) and 8% off bookings on Hotel.com 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
- which transactions earn the 1% cashback
- a welcome benefit
- lounge access
- an age limit
Where Indian Overseas Bank’s documents differ, and what is used
- Availability: the card page and the MITC describe VISA Platinum and Signature as launched variants with their own fees, but IOB's RuPay FAQ says the cards issued at present are RuPay Classic, Platinum and Select, and its general FAQ names only Visa Classic and Gold (which the card page marks as for existing cardholders only).
The quotes behind the figures
21 figures, each copied from an official Indian Overseas Bank document.
Show every quote and source
“VISA Platinum NIL 250+GST NIL Rs 60,000/-”
“i) GST on charges: Currently 18% GST is applicable (as per GOI) on charges applied by bank.”
“Platinum AMC Rs 250+GST; If total annual spending from the card exceeds INR 60,000, then the AMC is waived off.”
“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.”
“At present the following types of cards are issued by IOB i. RuPay Classic Credit Cards ii. RuPay Platinum Credit Cards iii. RuPay Select Credit Cards.”
“Card Limit: Rs. 51,000/- – Rs. 2,70,000/-”
“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.”
“d) Fuel Surcharges: Waiver of surcharge 1% on transaction between Rs.400/- to Rs 5000/- (Maximum Rs. 250/- per billing cycle)”
“Attractive Reward Points from Nth Rewards; 1% Flat Cash Bank on selected transactions on Platinum variant”
“Personal Accidental Insurance coverage with maximum coverage of Rs. 10 lakh”
“Discount on online Education merchants like Coursera, edX, Udemy; 8% off on booking on Hotel.com”
“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”
“Our Bank has launched VISA Platinum as our Mid Premium variant of VISA credit cards in affiliation with Visa International.”
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