Make Daily Purchases Count With IOB RuPay Platinum Credit Card

Bio

Sandipan Mitra is the CEO and co-founder of Pice. He boasts eight years of experience in the B2B and fintech sector. Sandipan's journey includes significant roles at multiple Indian Unicorns Including Product at PayU, and as founding member / VP, Product at Open Financial Technologies.

18 Mar 26
3 mins

Sandipan Mitra

08 Mins
18-03-26

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Table of Contents

IOB RuPay Platinum Credit Card Benefits
Indian Overseas Bank RuPay Platinum Credit Card Charges

The joining fee for the IOB RuPay Platinum Credit Card is nil, while the annual fee is ₹250.
Earn 1 reward point for every ₹100 spent.
1 domestic and 1 international lounge visit.
₹2 lakh personal accident insurance cover.

RuPay Platinum is a premium credit card offered by Indian Overseas Bank. It offers simple rewards on daily spend. The card grants one reward point for every ₹100 spent. Each point has a value of ₹0.25.

Cardholders also receive travel, shopping, recharge, gift card, or entertainment redemption options. The IOB RuPay Platinum Credit Card joining fee is nil, while the annual fee is ₹250 + GST.

IOB RuPay Platinum Credit Card Benefits

This credit card brings practical value through multiple features. Cardholders receive IOB RuPay Platinum Credit Card offers from the card network at select merchants from time to time.

These benefits support daily spending, travel convenience, fuel savings, safety cover, and payment flexibility.

EMI Facility

Cardholders can convert eligible purchases into EMI. This option helps manage large payments with ease. Interest stands at 13% for 3 or 6 months, 15% for 9 or 12 months, and 17% for 18 or 24 months.

Airport Lounge Facility

The card offers travel comfort through lounge access. Cardholders receive 1 domestic lounge visit in each quarter. They also receive 1 international lounge visit in a calendar year.

Fuel Surcharge Waiver

The card grants a 1% fuel surcharge waiver across India. This benefit applies to transactions from ₹400 to ₹5000. The waiver limit is ₹250 for each billing cycle.

Personal Accident Insurance

The card also provides financial safety. Cardholders receive personal accident insurance cover of ₹2 lakh. NPCI provides this cover for eligible users.

Indian Overseas Bank RuPay Platinum Credit Card Charges

Finance charges of the Indian Overseas Bank Credit Cards are 2.50% monthly or 30% annually.

The other key charges levied on this card are as follows:

Parameters	Charges
Cash Advance Fee	2.25% or ₹22.50 per ₹1000
PIN Replacement Charges	₹20
Card Replacement Charges	₹100
Over Limit Charges	₹100
Late Payment Fee	₹100 (3 days after the due date)

💡Manage multiple credit cards without stress. Download the Pice app to receive monthly payment reminders, pay credit card bills with ease, and track payment status on a secure, GST-compliant platform.

Footnotes

For assistance, contact toll-free numbers 1800 890 4445 or 1800 425 4445, credit card desk 044-28519573, or email creditcard@iobnet.co.in.

FAQs

What is the billing cycle for the IOB RuPay Platinum Credit Card?

The billing cycle runs from the 21st of a month to the 20th of the next month. The statement is generated on the 20th. Payment is due on the 9th or 10th of the following month.

What income is required to apply for the IOB RuPay Platinum card?

Salaried applicants need a minimum monthly income of ₹15,000. Self-employed applicants require an annual income of ₹3,00,000. Secured cards are available against a term deposit with 90% credit limit.

What are the EMI rules for IOB credit cards?

EMI processing fee is nil for eligible transactions. Pre-closure charge is 3%, with a minimum amount of ₹100+GST. EMI cancellation stays free within 15 days.