IOB CREDIT CARD FAQs

1. What are the different types of credit cards offered by Indian Overseas Bank (IOB)?

- Indian Overseas Bank offers a range of credit cards tailored to suit different customer needs Visa International Credit card including Classic, Gold cards. Each card comes with its own set of features, benefits, and eligibility criteria.

Presently IOB also issuing Rupay Credit card also under three category RuPay Classic, RuPay Platinum & RuPay Select.

2. How do I apply for an Indian Overseas Bank credit card?

- You can apply for an IOB credit card online through the bank's website (www.iob.in under Cards->Credit Card->Apply Online ) or by visiting a nearby branch. The application process typically involves submitting your personal and financial details along with supporting documents as per IOB's requirements.

3. What are the eligibility criteria to apply for an IOB credit card?

- The eligibility criteria for an Indian Overseas Bank credit card vary depending on the type of card and other factors such as income, employment status, credit history, etc. Generally, applicants must meet certain age, income, and credit score requirements.

4. How long does it take to get approval for an IOB credit card?

- The approval timeline for an Indian Overseas Bank credit card application varies based on factors such as the completeness of your application, verification processes, and the bank's internal procedures. Typically, it can take a few days to a few weeks for the application to be processed.

5. What are the credit limits offered on Indian Overseas Bank credit cards?

- The credit limit assigned to an IOB credit card depends on various factors such as the applicant's income, credit history, repayment capacity, etc. The bank assesses each application individually and assigns a suitable credit limit based on these factors.

6. How do I activate my Indian Overseas Bank credit card?

- Upon receiving your IOB credit card, you'll need to activate it before use. This can usually be done by calling the customer service number provided on the card or through the bank's website or mobile app. Follow the instructions provided to activate your card securely.

7. How do I make payments on my Indian Overseas Bank credit card?

- You can make payments on your IOB credit card through various channels including online banking, mobile banking, NEFT/RTGS transfers, cash payments at IOB branches, or through auto-debit from your savings or current account.

8. What are the charges associated with Indian Overseas Bank credit cards?

- Indian Overseas Bank levies various charges on credit card transactions including annual fees, joining fees, interest charges on outstanding balances, late payment fees, cash advance fees, etc. It's important to familiarize yourself with these charges to manage your card effectively. Few fees are exempted under our revamped Saving Account and Current account scheme. Customer can get the details by visiting Indian Overseas Bank Branch or from Banks website.

9. Can I convert my IOB credit card transactions into EMIs?

- Yes, Indian Overseas Bank typically offers the option to convert eligible transactions into equated monthly installments (EMIs) at competitive interest rates. Check with the bank for details on EMI conversion options available on your credit card.

10. How do I redeem rewards earned on my Indian Overseas Bank credit card?

- IOB credit cardholders can redeem reward points earned on their cards for a variety of rewards including merchandise, gift vouchers, airline miles, cashback, etc. Redemption options and procedures may vary, so check the bank's website or contact customer service for details.

11. What should I do if my Indian Overseas Bank credit card is lost or stolen?

- If your IOB credit card is lost or stolen, immediately contact Indian Overseas Bank's customer service to report the loss and request for card blocking. Follow their instructions to prevent unauthorized usage and request a replacement card if needed.

12. How do I track my Indian Overseas Bank credit card transactions and statements?

- You can track your credit card transactions, outstanding balances, and download monthly statements online through Indian Overseas Bank's internet banking portal, from banks website under credit card customer portal.  You may also receive monthly statements via email or post.

13. Does Indian Overseas Bank offer any insurance coverage with its credit cards?

- Some Indian Overseas Bank credit cards may offer insurance coverage such as travel insurance, purchase protection, and rental car insurance. Check the terms and conditions of your card to understand the extent of coverage provided.

14. What should I do if I have a dispute or unauthorized transaction on my IOB credit card statement?

- If you notice any unauthorized transactions or discrepancies on your IOB credit card statement, promptly report them to the bank's customer service. They will investigate the matter and take appropriate action to resolve the dispute.

15. Are there any special offers or discounts available for Indian Overseas Bank credit cardholders?

- Yes, Indian Overseas Bank often provides exclusive offers, discounts, and privileges to its credit cardholders on dining, shopping, travel, entertainment, and more. Keep an eye on the bank's website or promotional emails for ongoing offers.

16. Where can I use my Indian Overseas Bank credit card?

- You can use your Indian Overseas Bank credit card at any merchant outlet, online store, or ATM that accepts Visa/RuPay Credit cards, both domestically and internationally.

17. What is the billing cycle for my Indian Overseas Bank credit card?

- The billing cycle for your Indian Overseas Bank credit card refers to the period between two consecutive billing dates. It typically ranges from 25 to 30 days.

18. Is there a grace period for my Indian Overseas Bank credit card payments?

- Yes, Indian Overseas Bank usually provides a grace period of around 20-25 days from the billing date for making payments without incurring any interest charges on purchases.

19. Can I increase the credit limit on my Indian Overseas Bank credit card?

- Yes, you can request an increase in the credit limit on your Indian Overseas Bank credit card. The bank will assess your creditworthiness and other factors before approving the request.

20. Can I withdraw cash from Indian Overseas Bank Credit Card?

- Yes, You can withdraw cash ATM from IOB Credit card subject to specified limit and charges of the specific card. Kindly go through the same before doing such transactions.