Indian Overseas Bank Frequently Asked Questions (Rupay Credit Cards) (Content

Charge

• Cash Advance Fee: ₹500 per transaction.
• Cash Advance Charges/Interest: 3.5% per month.
• Purchase Interest: 3.5% per month.
• EMI Interest: 30% per annum.
• Late Payment Fee: Total outstanding < ₹100: NIL.
• Total outstanding <= ₹5,000: ₹299 + GST.
• Total outstanding > ₹5,000: ₹499 + GST.
• Over Limit Fee: Not Allowed.
• Cheque Return / Invalid Cheque Fee: ₹300.
• Card Re-issue/Replacement Fee: Virtual Card: NA.
• Physical Card: ₹299 + GST.
• Pin Mailer Re-issue Fee: NA.
• Foreign Currency (Markup) Fee: 2% of transaction amount.
• Surcharge (Fuel/Rental/Wallet/Utility): 1% applicable each.
• Statement Retrieval Fee: request > 3 months: ₹100 per statement.
• Online: Free.
• Balance Enquiry through ATM: own Bank ATM: NIL.
• Other Bank ATM: ₹50.
• Cash Withdrawal at Bank's ATMs: up to 3% or ₹250 whichever is higher.
• Cash Withdrawal at other Bank's ATMs in India: up to 3% or ₹250 whichever is higher.
• Cash Withdrawal at any ATM abroad: up to 3.5% or ₹1,000 whichever is higher.
• Fee for EMI Conversion: 2% (min ₹50, max ₹1,000).
• Fee for Fore-closure of EMI: 5% of outstanding (min ₹100).
• Maximum Cash Limit: 50% of the Card Limit.
• Limit Enhancement Fee: NA.
• Add-on Card Fee: NA.
• GST on Charges: currently 18% as per GOI.

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Interest-free period

• Interest Free Period: Max 20 days from billing date (up to 50 days total depending on transaction date).
• Not applicable if previous month's balance isn't cleared.

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Fuel surcharge waiver

Fuel Surcharge: 1% applicable (surcharge levied, not waived).

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Milestone benefit

• Salary Day Bonus: 10 Scoins on every ₹100 spent via SalarySe UPI on the 1st and last day of the month.
• Requires minimum spend of ₹5,000 on non-bonus days.

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Redemption value

• Reward points (Scoins) redeemable on the SalarySe app for buying brand vouchers.
• Cannot be redeemed on the CUB Portal.
• Scoins expire 18 months from the date of accrual.

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Reward cap

• Super Accelerated Rewards tiered by transaction size: 5 Scoins per ₹100 on transactions > ₹10,000.
• 10 Scoins per ₹100 applicable on spends above ₹20,000.

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Reward exclusion

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Insurance

Zero liability: Cardholder is entitled to zero liability if loss is due to contributory fraud/deficiency by the bank, or a third-party breach notified within three working days.

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Eligibility

• Credit limit ranges from ₹4,500 to ₹4,50,000.
• Credit and cash limits assigned based on Bank's internal credit criteria.
• Credit limit can be increased by opening additional Fixed Deposits only from the SalarySe app.

Verified · MITC – IOB SalarySe Rise UP RuPay Credit Card · 2026-08-01 · source