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Indian Overseas Bank
Indian Overseas Bank Visa Classic Credit Card
Visa
Indian Overseas Bank Visa Classic Credit Card
IOB's genuinely lifetime-free, entry-level Visa card with modest credit limits (₹10,000–₹50,000) and a low reward rate — a basic first-credit-card option rather than a rewards card.
Annual fee
₹0
Joining fee
₹0
Reward type
points
Base reward rate
0.67%
Card network
Visa
Card tier
Entry
Who this card fits
Best suited to applicants with a credit score of roughly 700+. It's a lifetime-free card with no fee to track.
Rewards & benefits
- Rewards rate: 0.67% base rate
- Domestic lounge access: Not offered on this entry-level variant
- International lounge access: Not offered
Benefits by category
- 🌍 Forex / international spend
2.5% forex markup on international transactions
Eligibility
- Minimum credit score: 700
- Minimum monthly income: ₹10,000
- Employment: salaried, self-employed
Fees & charges
- Rewards redemption fee: Not disclosed by IOB
- Foreign currency markup: 2.5%
- 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
- Credit limit of ₹10,000–₹50,000; cash withdrawal up to 40% of credit limit
- EMI conversion facility; up to 4 supplementary add-on cards
Pros
- + Lifetime free — no joining or annual fee
- + Low forex markup at 2.5%
- + Easy approval for existing IOB customers
Cons
- − Low reward rate (1 point per ₹150 spent)
- − Low credit limits
- − No lounge access or category bonuses