01
Pay by scanUPI
Pay eligible merchants through UPI
Details
Use the RuPay card in ZET's supported UPI journey for eligible merchant payments.
IOB ZET Credit Card
- Minimum FD
- ₹2,500
- Annual fee
- ₹0
- Credit limit
- ₹2,250 to ₹2,00,000
Currently listed as available
At a glance
- Bank name
- Indian Overseas Bank
- Partner name
- ZET
- Minimum FD
- ₹2,500
- Credit limit
- ₹2,250 to ₹2,00,000
- UPI payments
- Available
- Card network
- RuPay
Rewards & benefits
02
Earn as you spend2%
Earn more through optional ZET Plus
Details
The supplied product note lists 2% cashback on eligible UPI payments for ₹3 per day, with a combined cap of ₹500 per month. Confirm current app, tax and MITC terms before opting in.
03
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.
04
Build your recordCredit
Build a repayment record
Details
Responsible use and on-time repayment can help establish credit history as the issuer reports account behaviour.
Your credit limit
Example FD₹10,000
Published ratio90%
Example credit limit₹9,000
How the bank sets the final limit
The ₹2,500 minimum fixed deposit is the current IOB catalogue value. Issuer allocation and current programme terms remain subject to the app journey. Final approval and the available limit remain with Indian Overseas Bank.
Calculate your card value
Credit limit₹9,000
From the published FD ratio
- 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.
The ₹2,500 minimum fixed deposit is the current IOB catalogue value. Issuer allocation and current programme terms remain subject to the app journey.
How it works
- 01₹2,500+
Start with an FD
Your deposit keeps earning.
- 0290%
Unlock card limit
Your FD secures the card.
- 03Reuse
Repay. Get it back.
Paid limit becomes available again.
Issued by Indian Overseas Bank
Card partner ZET
Everything else
01Eligibility
- Indian resident meeting issuer KYC
- Eligible deposit booked through the ZET journey
- PAN and verification requirements
- Issuer allocation and final approval remain within the application journey
02Fees and charges
Minimum fixed deposit₹2,500
Joining fee₹0
Annual fee₹0
Credit limit90% of FD
ZET PlusOptional ₹3/day; 2% eligible UPI cashback, combined cap ₹500/month
Interest-free period20 to 50 days, when the previous bill is paid in full
Physical cardFree once your total FD is ₹5,000 or more
Late payment fee₹149 + GST (dues up to ₹2,500), ₹199 + GST (up to ₹5,000), ₹299 + GST (above)
Card replacement₹199 + GST
Closure within 2 years₹499 + GST
Foreign currency transactions2.49%
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
MITC · Indian Overseas BankIOB ZET Card Most Important Terms and ConditionsChecked 4 November 2026TERMS · 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 · ZETOfficial ZET product pageChecked 5 October 2026PRIMARY SOURCE · Indian Overseas BankOfficial IOB credit-card documentsChecked 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 90% of the FD value. Final sanction and limits remain with the issuer.
Does IOB issue this card?
IOB publishes Terms and Conditions for ZET Cards, and ZET lists Indian Overseas Bank among its live banking partners. Final issuer allocation appears in the application journey.
Can I pay through UPI?
Yes. ZET supports eligible merchant UPI payments with its RuPay FD Credit Card.
Currently listed as available