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Indian Overseas BankIndian Overseas Bank

IOB Visa Platinum Credit Card

TravelLifestyleDining
Welcome offerNo specific introductory offer published; standard welcome benefits apply upon activation.
Annual fee
₹ 500
Reward rate
1 point per ₹100 spent on eligible transactions
Credit score
700+
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Free to apply via CardGuruji · subject to issuer approval

IOB Visa Platinum Credit Card
Visa
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 on eligible transactions

Points can be redeemed for air miles, gift vouchers, or statement credit. 1 point is typically valued at ₹1 or equivalent in miles depending on redemption partner.

Reward currency
Points
Card network
Visa
Perks

What you get with this card

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

  • Complimentary airport lounge access (subject to spend criteria)

  • Discounts on dining and entertainment

  • No hidden charges on domestic transactions

  • 24/7 customer support

Our verdict

Pros & cons

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

What we like

  • Low annual fee

  • Standard Visa Platinum benefits

  • No joining fee

What to watch out for

  • Limited reward rate compared to premium cards

  • Lounge access requires minimum spend

Costs

Fees & charges

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

Annual fee
₹500Charged every year from the second year

Other charges

Applied only when the situation arises

Balance transfer
₹500 or 3% of transaction value, whichever is higher
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

Fee waiver: most issuers waive the renewal fee once your yearly spends cross a set threshold. Confirm the exact criteria with Indian Overseas Bank before you apply.

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 Visa Platinum Credit Card

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

The joining fee for IOB Visa Platinum Credit Card is nominal, and the annual renewal fee is ₹500 + GST. 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 Visa Platinum 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 Visa Platinum Credit Card is designed to reward everyday spends. It currently features: "No specific introductory offer published; standard welcome benefits apply upon activation.". 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.

Yes, IOB Visa Platinum Credit Card offers airport lounge privileges. Complimentary access is available at partner domestic and/or international airport lounges across India. Please verify quarterly spend requirements to unlock lounge vouchers.

You can apply for IOB Visa Platinum 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.