What is the forex markup on the Indian Overseas IOB ZET Credit Card?

2.49% of each foreign-currency transaction, before GST.

M16S / Indian Overseas Bank / Indian Overseas IOB ZET Credit Card

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Indian Overseas IOB ZET Credit Card

Indian Overseas Bank · with ZETRuPayLast checked 11 Oct 2026

The Indian Overseas IOB ZET Credit Card charges no annual fee and no joining fee. It earns No base reward stated in the MITC. The forex markup is 2.49%. Read from the issuer's documents and an aggregator on 11 Oct 2026.

Annual fee: Free
Fee waived at: —
Base return: —
Forex markup: 2.49%
Interest: 3.25%a month

Fees

Joining fee	Free
Annual fee	Free
Fee notes	Joining and annual fee nil. Physical card free when cumulative FD is Rs 5,000 or more. Closure fee Rs 499 + GST if closed within 2 years of issue (MITC; a marketplace page says 1 year). Replacement Rs 199 + GST.

Rewards

Reward currency	Cashback
Base earn	No base reward stated in the MITC
Accelerated earnunverified	Per Bajaj Markets: 2% cashback on eligible UPI spends through ZET with a Rs 3/day subscription; 5% on Amazon Pay and Flipkart vouchers; up to 15% on 80+ brand vouchers
Capsunverified	Per Bajaj Markets: cashback capped at Rs 250 a month (vouchers), Rs 500 a month with the subscription
Reward notes	All reward terms are from a marketplace page; the UPI cashback depends on a paid ZET subscription.

Travel and perks

Forex markup	2.49%
Fuel surcharge waiver	No waiver stated; MITC lists fuel surcharge of 1% of transaction amount
Other freebiesunverified	Per Bajaj Markets: flat Rs 100 off once a month on Swiggy (Rs 500+), Instamart (Rs 1,000+), Zomato (Rs 500+), BookMyShow (Rs 1,000+), AbhiBus (Rs 500+).

Charges and eligibility

Interest per month	3.25%
Late payment fee	Outstanding Rs 1-2,500: Rs 149; Rs 2,501-5,000: Rs 199; Rs 5,001 and above: Rs 299 (plus GST), applied 3 days past due
Cash advance fee	3.5% of amount; finance charges from withdrawal date
Eligibilityunverified	Fixed deposit opened through the ZET app (marketplace page: minimum FD Rs 2,500; age 18-65; no income proof).
Fine-print notes	FD-backed card managed in the ZET app. Finance charge 3.25% p.m. (39% p.a.). Over-limit nil; no add-on cards; cash limit 40% and gold purchase limit 50% of card limit. On default the card is blocked at 11 days past due and the FD can be liquidated at DPD 11 if utilisation exceeds 88%, or at DPD 39 otherwise. Minimum due 5% plus all interest and charges.

Questions

What is the annual fee of the Indian Overseas IOB ZET Credit Card?: No annual fee.
What is the forex markup on the Indian Overseas IOB ZET Credit Card?: 2.49% of each foreign-currency transaction, before GST.