M16S / Indian Overseas Bank / Indian Overseas IOB VISA Platinum Credit Card
entry · cashback, rewards
Indian Overseas IOB VISA Platinum Credit Card
The Indian Overseas IOB VISA Platinum Credit Card costs Rs 250 a year, waived if you spend Rs 60,000 in a year. It earns 1% flat cashback on selected transactions via Nth Rewards (cardinsider). The forex markup is 2.5%. Read from an aggregator, not the issuer on 11 Oct 2026.
- Annual fee
- Rs 250+ GST
- Fee waived at
- Rs 60,000annual spend
- Base return
- —
- Forex markup
- 2.5%
- Interest
- 2.5%a month
Apply on iob.bank.inOpens the bank’s own page.
Fees
| Annual feeunverified | Rs 250 |
|---|---|
| Annual spend that waives the feeunverified | Rs 60,000 |
| Fee notes | Aggregators: annual maintenance charge Rs 250 + taxes, waived if annual spend exceeds Rs 60,000. Not listed in the MITC fee table read. |
Rewards
| Reward currency | Nth Rewards |
|---|---|
| Base earnunverified | 1% flat cashback on selected transactions via Nth Rewards (cardinsider) |
| Reward notes | Which transactions qualify for the 1% is not stated, so no base return is computed. |
Travel and perks
| Forex markupunverified | 2.5% |
|---|---|
| Fuel surcharge waiverunverified | 1% waiver on transactions of Rs 400 to Rs 5,000, capped at Rs 250 per billing cycle |
| Other freebiesunverified | Per aggregators: 8% off Hotels.com, discounts on Coursera/edX/Udemy, airport transfers and car rentals; personal accident cover up to Rs 10 lakh. |
Charges and eligibility
| Interest per monthunverified | 2.5% |
|---|---|
| Late payment feeunverified | Rs 100 if minimum due is not paid within 3 days after the due date |
| Cash advance feeunverified | 2.25% (Rs 22.50 per Rs 1,000) plus finance charges from withdrawal date |
| Eligibilityunverified | Aggregator: limit Rs 51,000 to Rs 2.7 lakh |
| Fine-print notes | Described by bankbazaar and cardinsider (March 2026) but not a row in the bank MITC fee table that was read, so the general IOB charges shown here are assumed, not confirmed, for this variant. MITC: finance charge 2.50% p.m. (30% p.a.), monthly compounding from transaction date; over-limit fee Rs 100; minimum due 10% of billed amount (min Rs 100); interest-free period 20 to 50 days; cash limit 40% and gold purchase limit 50% of card limit; card replacement Rs 100 + GST; up to four add-on cards, free. The bank's credit card product and FAQ pages render no body text to the fetch tool, so rewards, lounge and insurance come from aggregators. Aggregators: EMI at 13% (3/6 months), 15% (9/12), 17% (18/24) with nil processing fee on transactions of Rs 3,000+. |
Questions
- What is the annual fee of the Indian Overseas IOB VISA Platinum Credit Card?
- Rs 250 a year, before GST. It is waived if you spend Rs 60,000 in a year.
- What is the forex markup on the Indian Overseas IOB VISA Platinum Credit Card?
- 2.5% of each foreign-currency transaction, before GST.