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Indian Overseas BankIndian Overseas BankLifetime Free

IOB RuPay Classic Credit Card

ShoppingLifestyleFuel
Welcome offerNo joining fee or annual fee; lifetime free card
Annual fee
Lifetime Free
Reward rate
1 point per ₹100 spent (standard IOB scheme)
Credit score
700+
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Free to apply via CardGuruji · subject to issuer approval

IOB RuPay Classic Credit Card
RuPay
Rewards

How the rewards work

What you earn on every spend, and the ways you can cash it in.

You earn

1 point per ₹100 spent (standard IOB scheme)

Points can be redeemed for merchandise, gift cards, travel, entertainment, recharge, DTH, and more. Points expire after 12 months.

Reward currency
Reward Points
Card network
RuPay
Perks

What you get with this card

The privileges that come bundled in, beyond the reward points.

  • Lifetime free card

  • Reward points on all purchases

  • Fuel surcharge waiver at select stations

  • Accepted at over 1.18 million merchant establishments

Our verdict

Pros & cons

An honest read on where this card earns its keep — and where it doesn't.

What we like

  • No annual fee

  • No joining fee

  • Fuel surcharge waiver

  • Reward points on all spends

What to watch out for

  • Lower credit limit (Max ₹50,000 for public)

  • No lounge access

  • Limited international acceptance compared to Visa/Mastercard

Costs

Fees & charges

Everything the issuer can bill you for, in one place.

Annual fee
₹0Lifetime free — no renewal charge

Other charges

Applied only when the situation arises

Balance transfer
3.5% of transaction value (min ₹500)
Foreign currency markup
3.5% of transaction value
Late payment
₹300 to ₹1,300 based on due amount
Returned payment
₹500

Interest rates

Charged on any balance you carry forward

Purchases
3.5% per month (42% p.a.)
Balance transfer
3.5% per month
Cash advance
3.5% per month
Eligibility

Will you qualify?

The credit profile this card is typically approved for.

700+out of 900
Good credit score

What this means for your application

  • Higher scores improve both your approval odds and the credit limit you're offered.
  • Issuers also weigh income, employment stability and your existing debt.
  • A rejected application leaves a hard enquiry on your report — apply only when you comfortably qualify.

Note: this is a guideline, not a hard cut-off. Existing customers of Indian Overseas Bank are often approved on slightly lower scores.

Frequently Asked Questions

Frequently Asked Questions about IOB RuPay Classic Credit Card

Everything you need to know about IOB RuPay Classic Credit Card fees, reward conversion, lounge access, and application eligibility.

The joining fee for IOB RuPay Classic Credit Card is nominal, and the annual renewal fee is Lifetime Free (₹0). Many cardholders can get the renewal fee waived by reaching the annual milestone spend threshold. Check official bank terms for current welcome gift vouchers that offset the initial fee.

To qualify for IOB RuPay Classic Credit Card from Indian Overseas Bank, a CIBIL score of 700 or higher is recommended. Applicants with a stable monthly income, low credit utilization (under 30%), and zero recent payment defaults have the highest likelihood of approval.

IOB RuPay Classic Credit Card is designed to reward everyday spends. It currently features: "No joining fee or annual fee; lifetime free card". You earn reward points or cashbacks on eligible transactions, which can be redeemed for statement credit, air miles, or shopping vouchers via Indian Overseas Bank's rewards portal.

IOB RuPay Classic Credit Card does not include unconditional complimentary lounge access as a primary perk. If airport lounge access is a priority, consider pairing this card with a dedicated travel credit card.

You can apply for IOB RuPay Classic Credit Card directly online. Have your PAN card, Aadhaar card, income proof (salary slips or Form 16/ITR), and bank statement ready. Most applicants receive digital KYC verification and an approval decision within a few business days.