All cards / Indian Overseas Bank
Indian Overseas Bank
IOB Secured Credit Card
RuPay
IOB Secured Credit Card
The IOB Secured Credit Card lets customers without income proof or an established credit score get a card backed by an Indian Overseas Bank term deposit as small as ₹10,000. It's a plain-vanilla credit-builder product aimed at students, homemakers, and first-time borrowers rather than reward-chasers.
Annual fee
₹0
Joining fee
₹0
Reward type
points
Base reward rate
0.5%
Card network
RuPay
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 secured entry-level variant
- International lounge access: Not offered
Benefits by category
- 🌍 Forex / international spend
2.5% forex markup on international transactions
Eligibility
- 0
- Employment: salaried, self-employed
Fees & charges
- Rewards redemption fee: Not disclosed by IOB
- Foreign currency markup: 2.5%
- Cash advance charges: 2.5% of the withdrawal amount, subject to a minimum of ₹500 per transaction
Benefits
- Credit limit up to 90% of the principal amount of a term deposit of at least ₹10,000 held for a minimum of 180 days.
Pros
- + Low minimum FD requirement (₹10,000)
- + No minimum credit score required
- + Credit limit up to 90% of FD value
- + No income documentation needed
Cons
- − Minimal reward program
- − FD must be held at least 180 days before card issuance
- − Sparse public documentation of fees and benefits