01
Reward points1 pt / ₹150
Earn on eligible purchases
Details
The Classic variant currently earns 1 point / ₹150 on eligible spending. IOB currently values each reward point at ₹0.25 on redemption.
IOB RuPay Classic Credit Card
- Minimum FD
- ₹2,500
- Annual fee
- ₹0
- Rewards
- 1 point / ₹150
Currently listed as available
At a glance
- Bank name
- Indian Overseas Bank
- Partner name
- Direct from the bank
- Minimum FD
- ₹2,500
- Credit limit
- ₹2,000 to ₹10,000
- UPI payments
- Available
- Card network
- RuPay Classic
Rewards & benefits
02
Instant savings15%
Save at BigBasket and Zepto
Details
Current IOB card offers publish 15% instant discounts up to ₹100 on eligible BigBasket and Zepto orders, subject to minimum order values, dates and offer terms.
03
Payment flexibilityEMI
Convert eligible spending
Details
IOB provides EMI conversion for qualifying card purchases under its current charges and conditions.
Your credit limit
Credit limit range₹2,000 to ₹10,000
Indian Overseas Bank sets your limit within this range, based on your FD and profile, and confirms it when you're approved.
How the bank sets the final limit
Classic is offered for fixed deposits of ₹2,500 to ₹12,500; final terms remain subject to IOB approval. Final approval and the available limit remain with Indian Overseas Bank.
Calculate your card value
Credit limit₹2,000 to ₹10,000
Set within this range by the bank
- FD interest a yearAt 7% a year, before tax
- ₹700
Rewards aren't added here, because a reward point has no published rupee value for this card.
Classic is offered for fixed deposits of ₹2,500 to ₹12,500; final terms remain subject to IOB approval.
How it works
- 01₹2,500+
Start with an FD
Your deposit keeps earning.
- 02FD-linked
Unlock card limit
A limit of ₹2,000 to ₹10,000, secured by your FD.
- 03Reuse
Repay. Get it back.
Paid limit becomes available again.
Issued by Indian Overseas Bank
Everything else
01Eligibility
- Eligible individual term deposit with Indian Overseas Bank, of ₹2,500 to ₹12,500
- PAN, KYC and the bank's card documentation
- The deposit remains under lien while it secures the card
- Variant, limit and final approval remain with Indian Overseas Bank
02Fees and charges
Minimum fixed deposit₹2,500
Fixed deposit range₹2,500 to ₹12,500
Credit limit₹2,000 to ₹10,000
Joining fee₹0
Annual fee₹0
Interest-free periodUp to 50 days
Reward value₹0.25 per point
GST, late-payment fees, exclusions, waivers and other issuer charges can apply. Read the current official documents before proceeding.
03Card closure and FD release
- 01
Clear the full card outstanding. Pay the billed and unbilled balance, linked EMIs, fees and any other amount due.
- 02
Ask for card closure. Use the issuing bank's current closure channel and keep the acknowledgement.
- 03
Wait for the lien to be released. Once the bank confirms closure and no dues, it can release the lien under its current process.
- 04
Know what happens on default. If dues remain unpaid, the bank may set off or liquidate the secured FD under the card and deposit terms.
04Official documents
TERMS · Indian Overseas BankSchedule of ChargesChecked 5 October 2026MITC · Indian Overseas BankMost Important Terms and ConditionsChecked 5 October 2026AGREEMENT · Indian Overseas BankCredit Card ApplicationChecked 5 October 2026TERMS · Indian Overseas BankCredit Card Cancellation PolicyChecked 5 October 2026PRIMARY SOURCE · Indian Overseas BankOfficial IOB credit-card pageChecked 5 October 2026PRIMARY SOURCE · Indian Overseas BankOfficial IOB RuPay FAQChecked 5 October 2026PRIMARY SOURCE · Indian Overseas BankOfficial IOB card offersChecked 5 October 2026
Questions
Why is a fixed deposit required?
The deposit secures the credit line. This lets the issuer assess the application without relying only on salary documents or an existing credit history.
Does the fixed deposit keep earning interest?
Yes. It earns the applicable bank deposit rate while it remains under lien. It generally cannot be withdrawn while card dues or the lien remain.
How much do I need to deposit?
The published starting fixed deposit is ₹2,500. The issuer can set eligible amounts, tenure, and deposit conditions.
How is the credit limit decided?
The published limit basis is ₹2,000 to ₹10,000. Final sanction and limits remain with the issuer.
Can I apply without income proof?
IOB states that customers without income proof can obtain a secured credit card against an eligible term deposit, subject to the bank's approval and documentation.
Can I convert purchases to EMI?
Yes, for eligible transactions under IOB's current EMI rules, charges and available tenures.
Currently listed as available