What are the key benefits of SBI Credit Cards?

SBI Credit Cards offer a wide range of benefits, including rewards, cashback, lounge access, discounts, and insurance coverage.

How can I apply for an SBI Credit Card?

You can apply for an SBI Credit Card online through the Paisabazaar platform, where you can compare card options and check for pre-approved offers.

What factors should I consider when choosing an SBI Credit Card?

Consider your spending habits, lifestyle, and financial goals to select a card that best suits your needs, such as travel, shopping, or rewards.

How can I manage my SBI Credit Card efficiently?

SBI Card offers a user-friendly mobile app and online banking services to help you manage your card, check statements, make payments, and access additional features.

What precautions should I take to avoid accumulating credit card debt?

Responsible credit card usage includes paying bills on time, managing credit limits wisely, and avoiding unnecessary spending to prevent debt accumulation.

Indian Overseas Bank Credit Card

In order to promote foreign exchange operations and overseas banking, Indian Overseas Bank was founded by Shri M Chidambaram. We quickly opened branches in Rangoon, Karikudi, and Madras. In 1938, a branch was also opened in Penang, Kuala Lumpur, and Singapore. Indian Overseas Bank has always focused on overseas operations since its inception. However, due to the war, we lost our branches in Kuala Lumpur and Rangoon. Fortunately, we were able to resume operations at our Singapore branch in 1942.

During the year 1960, IOB took over a large number of local banks in Tamilnadu as part of an initiative to merge weaker banks in the banking sector. Then, in 1969, banks in India were nationalized, and IOB was one of the banks that underwent this process. Prior to nationalization, IOB had a significant number of overseas branches. However, the Malaysian Government implemented a ban on foreign bank ownership in Malaysia, so we shifted our focus to business development within India and worked towards opening branches in rural areas.

In 1973, IOB, along with six other private banks in India, established Bharat Overseas Bank, a Chennai-based private bank which took over IOB's Bangkok branch. Then, in 1977, we opened a branch in Seoul and two years later we opened a branch in Colombo, Sri Lanka. Unfortunately, during the anti-Tamil riots in 1983, our branch in Colombo was burnt down.

In 1988-89, IOB acquired the Bank of Tamil Nadu and its branches. In the year 2000, IOB went public and the government's share in the bank's equity was reduced to 75%. We continued to expand our presence by acquiring the Mumbai-based Adarsha Janata Sahakari Bank. In 2009, we took over the Shree Suvarna Sahakari Bank, which had branches in Pune, Mumbai, and Shirpur.

Throughout the years, we have expanded our reach to different countries. In 2003, we opened an extension counter at the New Kathiresan Temple Complex in Ceylon. In 2005, we entered China, and in 2009, we re-entered Malaysia. We also established an office in Dubai. In 2007, we acquired Bharat Overseas Bank. Then, in 2010, Malaysia issued a commercial banking license for a locally incorporated bank jointly owned by Indian Overseas Bank, Andhra Bank, and Bank of Baroda. This joint venture, known as India International Bank, started operations in Malaysia in 2012. IOB holds a 35% share in this venture.

In 2013, we upgraded our extension counter in Sri Lanka and opened an overseas branch in Colombo. Over the years, we have worked hard to become one of the largest nationalized banks and cater to customers from all walks of life. IOB offers a variety of products in retail lending, personal banking, and digital banking.

One of our most notable offerings is our credit card, which we have launched in partnership with Visa International. Our credit card comes in two variants: the Indian Overseas Bank Gold Credit Card and the Indian Overseas Bank Classic Credit Card.

Our credit card comes with numerous features and benefits, including worldwide acceptance at 24 million outlets, including 625,000 outlets within India. Cardholders can withdraw up to 40% of their credit limit, with a daily limit of 15,000/- at any Visa ATMs. The card can also be used for purchases at member establishments, up to 50% of the credit limit in a day. We also offer an add-on card facility for family members, as well as the option to convert high-end purchases to EMI for easy payment.

Additionally, our credit card offers a revolving facility, allowing cardholders to pay a minimum due amount, with the remaining balance carried over to the next billing cycle. We also have a rewards program, where customers earn reward points for every purchase on the card, which can be redeemed for exciting gifts. Other benefits include insurance coverage for personal accidents and baggage loss, as well as protection against various risks for purchased items.

The Indian Overseas Bank Credit Card has a minimum credit limit of 10,000 and a maximum credit limit of 5.00 lakhs. Cardholders also receive real-time SMS alerts for transaction updates.

To apply for our credit card, existing customers can easily do so through our website using your net banking customer ID and mobile number. New customers can also apply online by providing their contact and personal details. Alternatively, you can visit any IOB branch and apply in person, providing the required documents.

To make payments, IOB offers various options, including internet banking, auto-debit, NEFT/RTGS, cheque, and cash deposits at our branches.

Our credit card comes with no joining fees or annual fees, and the bank charges a nominal fee of 100/- for a photo card.

If you have any questions or need assistance regarding our credit card or any other banking services, please reach out to our customer care team at 1800-425-4445 or 1800-425-7744.

We hope you will join us as a valued customer and experience the convenience and benefits of the Indian Overseas Bank Credit Card.

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