All cards / Indian Overseas Bank
IOB Gold Credit Card
IOB's basic lifetime-free Visa card, offering a moderate ₹60,000–₹5,00,000 credit limit range with a flat, modest reward rate.
Annual fee
₹0
Joining fee
₹0
Reward type
points
Base reward rate
0.5%
Card network
Visa
Card tier
Entry
Who this card fits
Best suited to applicants who clear the standard eligibility bar. It's a lifetime-free card with no fee to track.
Rewards & benefits
- Rewards rate: 0.5% base rate
- Domestic lounge access: Not offered on this entry-level variant
- International lounge access: Not offered
Benefits by category
- ⛽ Fuel
Fuel surcharge waiver at IOC/BPCL/HPCL outlets
- 🌍 Forex / international spend
2.5% forex markup on international transactions
Eligibility
- Minimum monthly income: ₹20,000
- Employment: salaried, self-employed
- Age: 21–60
Fees & charges
- Rewards redemption fee: Not disclosed by IOB
- Foreign currency markup: 2.5%
- Interest rate: 30% p.a.
- Fuel surcharge waiver: Fuel surcharge waiver at IOC/BPCL/HPCL outlets on transactions between ₹400 and ₹4,000
- Cash advance charges: Cash withdrawal permitted up to 40% of credit limit; 2.5% of the withdrawal amount, subject to a minimum of ₹500
Benefits
- Up to 4 supplementary add-on cards for family members
- Cash withdrawal facility up to 40% of credit limit
- Fuel surcharge waiver at IOC/BPCL/HPCL outlets
Pros
- + Lifetime free — zero joining/annual fee
- + Up to 4 free add-on cards
- + Cash withdrawal facility up to 40% of limit
Cons
- − No accelerated reward categories
- − No lounge access
- − Reward rate below most competing PSU entry cards