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Last Updated on 23/03/2021
IOB_SME_VISA

VISA DEBIT CARD - SME - Features

Eligibility

All MSME customers, who satisfies the conditions of the Bank for issuance of the Card.

Daily Cash withdrawal limit

Max.Rs.50,000/-(Applicable as per Credit Limit)

Daily limit for usage at PoS & Ecom

Max.Rs. 1,00,000./-(Applicable as per Credit Limit)

Charges for issuance of Card

Rs.150/-+GST

Annual Maintenance fee

Rs.100/-+GST from the 2nd year onwards at the beginning of the year.

Replacement/Re-issue of Lost/Damaged

Rs.100/-+GST

Re-issue of PIN

Green PIN Rs.20/- Paper PIN Rs.50/-

PIN RESET-Rs.10/-+GST

Card Limit

Up to 10% (Maximum) of fund based working capital limit or Rs. 5 lakhs whichever is less at Bank's discretion.

Transactions at IOB ATMs

Financial and Non-Financial Transactions

No charges

Transactions at Other Bank ATMs

For each Transaction

Rs.20/-(GST applicable as per latest circular)

PoS/Ecom Transactions

No charges

Secured Online Transactions through

Verified By Visa (VBV)

  • The above charges are subject to periodical review and change.
  • GST at the applicable rate will be charged extra.

Additional Features:

  • Separates business and personal expenses as the borrower need not use his personal credit card for business transactions. So, it will helps in tracking and monitoring the business expenses.

Restrictions:

  • Not eligible for usage in jeweler shops, can be used only for business transactions.

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