All cards / Indian Overseas Bank
Indian Overseas Bank Visa Platinum Credit Card
IOB's mid-premium Visa card charges a modest ₹250+GST annual fee, waivable on ₹60,000 yearly spend, with Visa Concierge and standard travel privileges.
Annual fee
₹250
Joining fee
₹0
Reward type
points
Base reward rate
0.5%
Card network
Visa
Card tier
Mid
Who this card fits
Best suited to applicants who clear the standard eligibility bar whose spend is concentrated in travel. Its annual fee waives if you can comfortably clear the spend threshold.
Rewards & benefits
- Rewards rate: 0.5% base rate
- Travel: Discounted car-rental deals and airport-related privileges via Visa's standard Platinum benefits
- Domestic lounge access: Not disclosed by IOB
- International lounge access: Not disclosed by IOB
Benefits by category
- 🌍 Forex / international spend
2.5% forex markup on international transactions
Eligibility
- Minimum monthly income: ₹25,000
- Employment: salaried, self-employed
Fees & charges
- Spend-based waiver: Waived on annual spend of ₹60,000
- Rewards redemption fee: Not disclosed by IOB
- Foreign currency markup: 2.5%
- Fuel surcharge waiver: 1% fuel surcharge waiver at all fuel stations 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
- Nth Rewards points on every spend
- Visa Concierge for travel and lifestyle assistance
- Discounted car-rental deals and airport-related privileges
Pros
- + Low annual fee with an achievable waiver threshold
- + Visa Concierge and car-rental privileges
- + NRI-friendly (NRE/NRO account holders eligible)
Cons
- − Reward rate and redemption value not clearly disclosed
- − No lounge access mentioned, unlike the bank's RuPay Select/Platinum cards