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Indian Overseas Bank
IOB Novio RuPay Platinum Credit Card
RuPay
IOB Novio RuPay Platinum Credit Card
The entry-level FD-backed RuPay card from Indian Overseas Bank's Novio co-brand, designed for first-time credit users and UPI-heavy spenders who want a secured card with minimal paperwork and zero fees.
Annual fee
₹0
Joining fee
₹0
Reward type
cashback
Base reward rate
1%
Card network
RuPay
Card tier
Entry
Who this card fits
Best suited to applicants with a credit score of roughly 600+ whose spend is concentrated in groceries. It's a lifetime-free card with no fee to track.
Rewards & benefits
- Rewards rate: 1% base rate
Benefits by category
- 🛒 Groceries
1.5% reward rate (capped ₹300/monthly)
- ⛽ Fuel
1% fuel surcharge waiver on eligible transactions.
- 🌍 Forex / international spend
3.5% forex markup on international transactions
Eligibility
- Minimum credit score: 600
- Employment: salaried, self-employed
- Age: 18–60
Fees & charges
- Foreign currency markup: 3.5%
- Interest rate: 3.5% p.a.
Benefits
- Credit limit set against the backing fixed deposit, with digital onboarding.
- 1% fuel surcharge waiver on eligible transactions.
Pros
- + Zero joining and annual fee
- + FD-backed with digital onboarding
- + Low eligibility bar, good for credit beginners
- + Fuel surcharge waiver
Cons
- − No lounge access on this base variant
- − Rewards are modest across categories
- − Credit limit tied strictly to FD amount