What is the forex markup on the Indian Overseas IOB SalarySe Rise UP RuPay Platinum Credit Card?

2% of each foreign-currency transaction, before GST.

Which spends earn no rewards on the Indian Overseas IOB SalarySe Rise UP RuPay Platinum Credit Card?

0 Scoins on UPI apps other than SalarySe, railways, fuel, rent, government services, insurance, education, contracted services, agriculture, transportation and transit, telecom, post office, and small offline merchant transactions below Rs 2,000

M16S / Indian Overseas Bank / Indian Overseas IOB SalarySe Rise UP RuPay Platinum Credit Card

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Indian Overseas IOB SalarySe Rise UP RuPay Platinum Credit Card

Indian Overseas Bank · with SalarySeRuPayLast checked 11 Oct 2026

The Indian Overseas IOB SalarySe Rise UP RuPay Platinum Credit Card charges no annual fee and no joining fee. The forex markup is 2%. Read from the issuer's own documents on 11 Oct 2026.

Annual fee: Free
Fee waived at: —
Base return: —
Forex markup: 2%
Interest: 3.5%a month

Fees

Joining fee	Free
Annual fee	Free
Fee notes	Virtual card free. Physical card Rs 299 + GST, waived if FD is Rs 10,000 or more. No annual fee. Card closure fee Rs 299 + GST. Re-issue Rs 299 + GST.

Rewards

Reward currency	Scoins
Base earn	2 Scoins per Rs 100 on spends up to Rs 10,000 in a billing month via SalarySe UPI/online or the physical card
Point value	Not stated; Scoins redeem for brand vouchers in the SalarySe app only
Accelerated earnunverified	5 Scoins per Rs 100 on spends above Rs 10,000 in a billing month (the MITC also says 10 Scoins in one line); 10 Scoins per Rs 100 via SalarySe UPI on the 1st and last day of the month, subject to Rs 2,500 spend on non-bonus days
Spends that earn nothing	0 Scoins on UPI apps other than SalarySe, railways, fuel, rent, government services, insurance, education, contracted services, agriculture, transportation and transit, telecom, post office, and small offline merchant transactions below Rs 2,000
Points expiry	18 months from accrual
Reward notes	Scoin rupee value is not published in the MITC, so no return is computed.

Travel and perks

Forex markup	2%
Fuel surcharge waiver	No waiver; 1% surcharge on fuel. Also 1% surcharge on rental, wallet and utility transactions.

Charges and eligibility

Interest per month	3.5%
Late payment fee	Outstanding below Rs 100: nil; up to Rs 5,000: Rs 299; above Rs 5,000: Rs 499 (plus GST); 3-day grace
Cash advance fee	Rs 500 per transaction plus GST; ATM cash withdrawal fee up to 3% or Rs 250, whichever is higher
Eligibility	Fixed deposit booked through the SalarySe app; credit limit is 90% of the FD, from Rs 2,250 to Rs 4,50,000.
Fine-print notes	FD-backed card for salaried users of the SalarySe app. Interest 3.5% p.m. (42% p.a.) on purchases and cash; EMI interest 30% p.a., conversion fee 2% (min Rs 50, max Rs 1,000), foreclosure 5%. Over-limit not allowed. No add-on cards. Cash limit 50% of card limit. Surcharges of 1% on rent, wallet loads and utilities. The MITC contradicts itself on the above-Rs 10,000 earn rate (5 vs 10 Scoins).

Questions

What is the annual fee of the Indian Overseas IOB SalarySe Rise UP RuPay Platinum Credit Card?: No annual fee.
What is the forex markup on the Indian Overseas IOB SalarySe Rise UP RuPay Platinum Credit Card?: 2% of each foreign-currency transaction, before GST.
Which spends earn no rewards on the Indian Overseas IOB SalarySe Rise UP RuPay Platinum Credit Card?: 0 Scoins on UPI apps other than SalarySe, railways, fuel, rent, government services, insurance, education, contracted services, agriculture, transportation and transit, telecom, post office, and small offline merchant transactions below Rs 2,000