Indian Overseas Bank RuPay Platinum
KeepFour domestic lounge visits a year and a foreign-spend markup a point under the norm, for ₹250.
a year at ₹40,000 a month, after the fee
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Welcome: Not published — IOB states no welcome, activation or first-transaction bonus for this card on its product page or in the MITC
Priced on the everyday mix — 30% groceries · 10% utilities · 20% travel · 6% fuel · 34% everything else — with this card's published category rules applied. Plus milestones, minus the fee. No accelerator credit — the ranking model on /compare adds ~20% of spend at the card's best accelerator, so its ₹ for this card reads higher.
How these numbers are computed — and why the rankings show a bigger one →
Spend tiers, milestones and fee waivers included, at our house ₹/point. Portal and category multipliers can push higher — run your exact number →
Breaks even only by erasing its fee at ₹9,000 a month
At ₹9,000 a month — ₹1,08,000 a year — on the everyday mix this card returns ₹300 gross (earn ₹300) against a fee of ₹0 — the ₹250 is waived, the spend having cleared ₹1,00,000 a year = ₹300 net — the first rung at or above ₹0. The ladder runs in ₹1,000 steps to ₹1,00,000 a month and ₹10,000 steps to ₹5,00,000; figures are rounded to the hundred, and the accelerator is never credited.
3 notes on the card itself: how it is issued · the network variants · why it ranks #622
Why #622 Scored on earn alone this sits higher than it deserves, because a quarter of a percent in a closed IOB catalogue is not a quarter of a percent of anything a traveller wants. The lounge quota and the 2.50% forex line are the whole case for holding it, and neither is big enough to lift a card that reaches no airline or hotel programme.
The take
The Platinum sits one rung under IOB's RuPay Select and keeps the two things worth having. IOB names the lounge quota for this card specifically — one domestic visit a quarter and one international visit a calendar year — which matters, because a RuPay tier benefit is the network's to grant and the issuer's to decline, and most banks never say. And the forex markup is IOB's bank-wide 2.50%, a full point below the 3.5% almost every Indian issuer charges, which on a ₹2 lakh foreign trip is ₹2,000 that stays with you. Against that: a quarter of a percent of earn, in points that redeem only into IOB's own catalogue and reach no airline or hotel anywhere, with a 750-point floor before you can redeem at all. The fee is ₹250 plus GST and reverses at ₹1,00,000 of annual spend; the joining line reads Nil. Credit limits run from ₹60,000 to just under ₹2,00,000 for a public applicant, so this is the variant most IOB customers will actually be offered. Hold it as a cheap lounge and travel-spend card. Do not hold it to earn.
Your renewal — keep, downgrade or cancel
This card reaches break-even by ERASING its fee, not by out-earning it: the waiver is the decision.
Keep, downgrade or cancel
₹250/yr at stake · 5 spend bands
The charge ₹0 joining, then ₹250/yr
The waiver ₹1,00,000 of spend in the year before renewal — about ₹8,333 a month — and the renewal fee is not charged.
Break-even ₹9,000 a month — ₹1,08,000 a year — is where this card's value crosses its fee, and it gets there by erasing the fee at the waiver rather than out-earning it.
At your spend
₹800 a year, net of the fee, at ₹3,00,000 of annual spend — this clears the waiver, so no fee is charged
₹1,500 a year, net of the fee, at ₹6,00,000 of annual spend — this clears the waiver, so no fee is charged
₹3,000 a year, net of the fee, at ₹12,00,000 of annual spend — this clears the waiver, so no fee is charged
₹9,000 a year, net of the fee, at ₹36,00,000 of annual spend — this clears the waiver, so no fee is charged
₹15,000 a year, net of the fee, at ₹60,00,000 of annual spend — this clears the waiver, so no fee is charged
Everyday earn plus milestones, minus the fee — the same model as the value panel above, so the two cannot disagree. run your exact spend →
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
The downgrade
Indian Overseas Bank publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and the numbers above are the whole of it.
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- 1 domestic lounge visit per quarter and 1 international per calendar year, stated by IOB for this card by name
- 2.50% forex markup against India's 3.5% norm
- ₹0 to get, ₹250 a year to keep, and the fee reverses at ₹1,00,000 of annual spend
- NPCI personal accident cover of ₹2 lakh, plus a 1% fuel-surcharge waiver on fills of ₹400–₹5,000 capped at ₹250 a cycle
Watch out
- 0.25% back in points that cannot leave IOB — merchandise, gift cards, travel bookings, recharge and DTH, with no transfer partner
- 750 points is the minimum redemption, so ₹3,00,000 of spend before the first ₹187 comes back
- One international lounge visit a year is a gesture, not a benefit — and IOB does not name the network behind it
- IOB's Schedule of Charges still footnotes the RuPay variants as 'proposed to be launched' while the product page describes them as live; the MITC carries no such footnote
What these points actually fly
No live transfer route takes IOB Reward Points into a programme that publishes an award chart. These points buy catalogue and portal redemptions, not award seats — so this page has no flight to show you, and will not invent one.
what the cards that DO reach a chart can fly — 2,196 corridors priced →
What earns, what doesn't
3 sourced rules
IOB publishes NO merchant-category exclusion list for any card it issues. This row states only the deviations IOB documents; every other category answers "not published" rather than a guess.
per Indian Overseas Bank T&C · rank every card by spend category →
Does your spend count toward the fee waiver?
not published — and we say which
₹1,00,000 a year is the bar that waives the ₹250 fee. A different question from the one above — earning points and counting toward a threshold are separate rules, and issuers write them separately.
Not published. Indian Overseas Bank states what the Indian Overseas Bank RuPay Platinum earns and does not earn, but has not published which spend categories count toward the fee waiver — the ₹1,00,000 bar. We won't guess it from the earn table or from a sibling card: Axis published three cards' rules on one day and all three lists differed. If you hold this card and have it in writing from the issuer, send us the document and we'll source it.
Lounge access
17 of 793 tracked doors
Opens 17 of 793 tracked lounge doors across 10 airports , via RuPay — see the full map →
Can you get it?
income, age and the route in
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Not confirmed on sale — the issuer still documents this card but we could not confirm it is open to new applications. Treat any application path with care.
per the official Indian Overseas Bank MITC — figures marked (community) aren't in the PDF; the issuer won't say · filter the board by what you can get →
The fine print
7 of 7 MITC rows published
What the MITC actually says — the rates, fees and cutoffs the brochure skips.
RuPay Platinum reads NIL / 250+GST / NIL / ₹1,00,000 across the MITC fee table's four fee columns: free to get, ₹250 plus GST to keep, reversed at ₹1,00,000 of annual spend. Fuel-surcharge waiver 1% on transactions of ₹400 to ₹5,000, capped at ₹250 a billing cycle. Interest-free period 20 to 50 days. Minimum amount due 10% of billed transactions plus interest and charges and GST, minimum ₹100. Billing cycle the 21st to the 20th. PIN replacement NIL and card replacement ₹100 plus GST per the MITC; IOB's Schedule of Charges disagrees (₹20 a PIN incident, fuel surcharge printed as a charge) and still footnotes the RuPay variants as "proposed to be launched". Credit limit ₹60,000 minimum to under ₹2,00,000 for a public applicant. Card not valid for foreign-currency transactions in Nepal and Bhutan.
per the official Indian Overseas Bank MITC · reviewed 10 Jul 2026
What's changed for this card
nothing tracked yet — which is itself a fact
No tracked devaluations or changes yet — this card's history starts here.
Verified against Indian Overseas Bank's own documents on · the net-annual-value engine, at our house ₹/point
Every document behind this page — 4 of them, each with the day we read it
- official IOB's credit-card page — the RuPay features table that states this card's earn rate, lounge quota, fuel-surcharge waiver and credit-limit band
- official IOB's Most Important Terms and Conditions — the fee table (Nil to join, ₹250 + GST a year, reversed at ₹1,00,000 of spend) and the 2.50% forex markup
- official NPCI circular hosted by IOB — the RuPay insurance programme covering Platinum and Select cards for FY 2025-26
- official IOB's Schedule of Charges — the same fee table, and the footnote still marking the RuPay variants as proposed