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Indian Overseas Bank Debit Card
Plastic money or e-money is gaining popularity in our country in the recent years. This has accelerated many folds after the demonetization activity that happened two years back. The introduction of debit card comes with much convenience and comfort in dealing with financial transactions. One can make utility bill payments, online purchases, cashless facilities and many other benefits.
Features of Indian Overseas Bank Debit Card
Indian Overseas Bank offers many privileges on using their debit cards. At a nominal charge per year, one can enjoy the benefits of using debit card instead of cash. The bank has tied up with Visa/Mastercard/Rupay payment services for its debit card Some of the features of the card are:
- Online transactions through IOB debit cards are secured with OTP and enhanced security benefits provided by Mastercard or Visa.
- IOB reward points can be earned on transactions made through debit card.
- High withdrawal limits on a daily basis and purchase transaction limit make it convenient to use IOB Debit card.
- 24x7 assistance service in case of any issues with the usage of debit card.
- SMS alerts help in tracking transactions.
- GREEN PIN concept wherein one can activate the debit card with the help of OTP for PIN setting. There is no paper communication and visits to ATM to set the PIN as before.
- Low maintenance charges on annual basis.
- Replacement and Reissue of debit cards can be done at a very minimal cost.
- Account holders with the bank are eligible to apply for different types of debit card.
What are the various types of IOB Debit Cards?
| TYPE OF CARD | TRANSACTION LIMIT per day | OTHER DETAILS |
|---|---|---|
| IOB Gold Card | Rs.30,000 Cash withdrawal Rs.75,000 for purchases Rs.75,000 for online transactions | Rs.200 for issuing the card Rs.150 for annual maintenance IOB Rewardz Points VbV secured online transactions |
| IOB Platinum Card | Rs.50,000 Cash withdrawal Rs.2 lacs for purchases Rs.2 lacs for online transactions | Rs.250 for issuing the card Rs.200 for annual maintenance Emergency cash disbursement Travel assistance IOB Rewardz Points VbV secured online transactions |
| IOB PMJDY Card | Rs.10,000 Cash withdrawal | No charge for issuing the card Rs.100 for annual maintenance RuPay secured online transactions IOB Rewardz Points |
| IOB RuPay Classic Card | Rs.20,000 Cash withdrawal Rs.50,000 for purchases Rs.50,000 for online transactions | No charge for issuing the card Rs.150 for issuing the card Rs.150 for annual maintenance RuPay secured online transactions IOB Rewardz Points Personal Insurance Cover |
| IOB Signature Card | Rs.50,000 Cash withdrawal Rs.2.7 lacs for purchases Rs.2.7 lacs for online transactions | Rs.350 for issuing the card Rs.750 for annual maintenance VbV secured online transactions Airport lounge access IOB Rewardz Points Offers on retail, dining, travel, golf and entertainment Global acceptance at merchant outlets and ATM |
| IOB SME VISA | Rs.50,000 Cash withdrawal Rs.1 lac for purchases Rs.1 lac for online transactions | Rs.150 for issuing the card Rs.100 for annual maintenance IOB Rewardz Points VbV secured online transactions |
| IOB VISA Classic | Rs.20,000 Cash withdrawal Rs.50,000 for purchases Rs.50,000 for online transactions | Rs.100 for issuing the card Rs.150 for annual maintenance IOB Rewardz Points VbV secured online transactions |
| IOB Mastercard | Rs.20,000 Cash withdrawal Rs.50,000 for purchases Rs.50,000 for online transactions | Rs.100 for issuing the card Rs.150 for annual maintenance Master Secure online transactions IOB Rewardz Points |
How secure is the Indian Overseas Bank Debit Card?
With increased usage of cards for financial transactions, there is an increase in skimming and theft of money through these cards. IOB offers maximum security on its debit cards as it is based on chip technology. It processes the personal data on the card with utmost confidentiality and tamper proof. It also helps in preventing misuse of the card through enhanced security features offered by Mastercard /Visa for online payments.
FAQs: Indian Overseas Bank Debit Card
(1) What is IOB Rewardz?
It is an exclusive loyalty program created by the bank for Debit card holders wherein one can earn rewards points every time the debit card is used.
(2) What is Green PIN?
IOB has introduced a unique facility of Green PIN wherein the Debit card PIN can be set with the help of OTP and without paper details being sent to the cardholder. This makes the process easier and environment friendly.
(3) Who all are eligible for Green PIN?
All existing and new debit cardholders of IOB are eligible for Green PIN.
(4) How can I apply for a debit card?
One can visit the bank personally and submit an application form for debit card and the required supporting documents to get a debit card.
(5) What are the transaction charges while using IOB debit card?
There are no transaction charges while using IOB debit card.
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