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IOB RuPay Platinum Credit Card
RuPay
IOB RuPay Platinum Credit Card
A no-joining-fee RuPay card with a low ₹250+GST annual fee (waived on ₹1L annual spend) that punches above its cost with domestic and one international lounge visit a year, though the flat 0.25% reward rate is unremarkable.
Annual fee
₹250
Joining fee
₹0
Reward type
points
Base reward rate
0.25%
Card network
RuPay
Card tier
Mid
Who this card fits
Best suited to applicants with a credit score of roughly 700+ whose spend is concentrated in travel, fuel. Its annual fee waives if you can comfortably clear the spend threshold.
Rewards & benefits
- Rewards rate: 0.25% base rate
- Domestic lounge access: 1 complimentary domestic airport lounge visit per quarter (4 per year) via RuPay's lounge program
- International lounge access: 1 complimentary international lounge visit per calendar year
- Insurance benefits: Personal accident insurance cover of ₹2 lakh, provided under NPCI's standard RuPay Platinum cover
Benefits by category
- ✈️ Travel
1 complimentary domestic airport lounge visit per quarter and 1 international lounge visit per calendar year
- 🛡️ Insurance
Personal accident insurance cover of ₹2 lakh (NPCI)
- ⛽ Fuel
1% fuel surcharge waiver, capped at ₹250 per billing cycle
- 🌍 Forex / international spend
2.5% forex markup on international transactions
Eligibility
- Minimum credit score: 700
- Minimum monthly income: ₹15,000
- Employment: salaried, self-employed
Fees & charges
- Spend-based waiver: Waived on annual spend of ₹1,00,000
- Rewards redemption fee: Not disclosed by IOB
- Foreign currency markup: 2.5%
- Interest rate: 30% p.a.
- Fuel surcharge waiver: 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000, capped at ₹250 per billing cycle
- Cash advance charges: 2.25% of the withdrawal amount (₹22.50 per ₹1,000)
Benefits
- 1 complimentary domestic airport lounge visit per quarter and 1 international lounge visit per calendar year
- 1% fuel surcharge waiver, capped at ₹250 per billing cycle
- Personal accident insurance cover of ₹2 lakh (NPCI)
Pros
- + No joining fee
- + Fee waived on modest ₹1L annual spend
- + Includes lounge access and personal accident cover
Cons
- − Flat, low reward rate (~0.25%)
- − No category-specific bonus rewards