All About IOB Gold Credit Card Perks & Charges
Bio
Shreyansh Singh, an IIT Kanpur alumnus, has eight years of experience in the finance industry. He has spent 5 years at American Express developing mid to long-term strategies for multiple markets including US, Europe and India. Shreyansh currently leads Growth and Strategy initiatives at Pice.
- 25 Mar 26
- 3 mins
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All About IOB Gold Credit Card Perks & Charges
Shreyansh Singh- 08 Mins
- 25-03-26
Key Takeaways
- Comes with a cashback feature of ₹0.20 per point for every ₹100 spent.
- Subject to an interest rate of 30% per annum.
- Has a credit limit of ₹60,000 to ₹5,00,000.
- Comes with a personal accident coverage of up to ₹4 lakh.
The IOB Gold Credit Card is designed for individuals looking for essential credit card benefits without paying annual fees. It offers basic rewards, cashback on transactions, travel insurance of up to ₹25,000 and flexible limits, making it suitable for first-time users or those seeking a low-maintenance card.
If you are wondering what other perks and features the IOB Gold Credit Card offers, read on to know more.
IOB Gold Credit Card Benefits
- Reward Points
Get a cashback of ₹0.20 per point for every ₹100 spent. This gets adjusted towards the monthly outstanding during the generation of bills when the point reaches 500.
- Purchase Protection Cover
Avail a purchase protection cover of up to ₹25,000 on items you purchase using the credit card.
- Personal Accident Insurance Cover
Avail a personal accident cover for death due to an air crash of ₹4 lakh for self and ₹2 lakh for spouse. For death due to road or rail accidents, the coverage is ₹2 lakh for self and ₹1 lakh for spouse.
- Baggage Insurance
Get baggage insurance coverage of up to ₹25,000 if your checked-in baggage is damaged or lost during travel.
Note: These benefits are only available for existing cardholders.
Additional Features
- The IOB Gold Credit card limit is ₹60,000 - ₹5,00,000.
- The daily transaction limit is 100% of the card limit or available balance for both E-Com and POS transactions.
- Daily cash withdrawal limit is 40% of the card limit or the available balance in the card (whichever is less).
Must reads
IOB Gold Credit Card Eligibility Criteria
- Salaried applicants should have a monthly income of ₹15,000 and self-employed applicants need to have a minimum of ₹3 lakh annual gross income.
- A minimum of 50% take home income norm is considered for limit calculation.
- Applicants must possess a satisfactory past repayment record.
IOB Gold Credit Card Charges
| Charges | Amount |
| Joining Fee | NIL |
| Annual Fee | NIL |
| Supplementary Card Fee | NIL |
| Rate of Interest | 30% per annum |
| Cash Advance Fee | 2.25% per ₹1,000 |
| Forex Conversion Fee | 2.50% |
| Fuel Surcharge | 1.00% per ₹1,000 |
| PIN Replacement Charge | ₹20 for every incident |
| Over Limit Charge | ₹100 |
| Late Payment Fee | ₹100 (after 3 days have passed from the due date) |
💡Looking for a simple way to manage your credit card bills and skip late payment charges? The Pice App helps you handle payments, monitor transactions and stay on top of your finances with ease. Download it now!
Footnote
Cardholders can make interest-free purchases from 20 days to 50 days, depending on the date of their purchase.
FAQs
Is GST charged on IOB Gold Credit Card charges?
There is an 18% GST applicability as per the Government of India on charges applied by the IOB Bank.
What is the billing cycle of the IOB Gold Credit Card?
The billing cycle of the IOB Gold Credit Card is from the 21st of a month to the 20th of the succeeding month.
Read More About Credit Card
About the author
Key Takeaways Earn 5 reward points per ₹100 overseas spending....
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