indian overseas bank debit card types overview features and benefits Debit Card Types, Overview, Features & Benefits

Overview of Indian Overseas Bank

Indian Overseas Bank (IOB) is a major public sector bank headquartered in Chennai which was founded on 10 February 1937. The bank has about 3700 domestic branches, 3300 ATMs, 3 extension counters in India and 8 overseas branches (having 100% CBS status) as of 30 September 2014. In 1984, it opened its 1000th branch. In 2005, it launched its first debit card in the market.

Features & Benefits of Indian Overseas Bank Debit Card

• Debit cards of IOB are available in Visa and RuPay variants
• 24/7 customer care facility
• Entitled for IOB Rewardz point program
• Offers higher daily withdrawal limit of cash from ATM
• Highly safe and secure transactions
• Widely accepted debit card

Types of Indian Overseas Bank Debit Cards

IOB Classic Debit Card is a basic card issued on VISA platform by Indian Overseas Bank for its account holders. It provides all standard features of a debit card. It is issued free of charge to the card holders.

IOB Gold Debit Card is designed for those SB / CD/CC account holders or proprietary concerns, who maintain an average balance of Rs.50,000 per quarter in their accounts. It has a VISA platform. The card holders are eligible for IOB Rewardz points for usage through PoS / Ecom channels.

IOB Platinum Debit Card is for those SB / CD/CC account holders or proprietary concerns, who maintain an average balance of Rs.75,000 per quarter in their accounts. It offers benefits like Visa Concierge services, Travel Assistance, etc.

IOB Signature Debit Card is for those SB / CD/CC account holders or proprietary concerns, who maintain an average balance of Rs.1 lakh per quarter in their accounts. It offers special benefits and privileges to the card holders like free personal accident insurance cover, no pre-set spending limit, internation validity, higher spending power, etc.

IOB Connect Debit Card is specially designed for Saving Bank and Current Account holders having account at CBS branches who are young, i.e. in the age group of 10-28 years. The cards will be printed in two attractive designs, one for young females and other for young males. It is issued on VISA platform.

IOB Rupay Classic Debit Card has been designed for all SB accounts, CD/CC account holders which are in the name of individuals or Proprietary concerns. It has a Rupay platform which has comparatively less transaction cost. It is faster in processing.

The objective behind launching IOB Rupay Kisan Debit Card is t o meet investment and credit requirements of farmers. The main purpose is Investment credit need and allied activities. Revolving Cash Credit for crops & for allied activities. The are eligible to avail loan against Suitable Collateral such as Hypothecation of crops / assets created out of loan and the Loan amount / Limit fixed on annual basis depending upon the cropping pattern, Scale of Finance for the crop and the extent of cultivation.

Indian Overseas Bank (IOB) is a major public sector bank headquartered in Chennai which was founded on 10 February 1937. The bank has about 3700 domestic branches, 3300 ATMs, 3 extension counters in India and 8 overseas branches (having 100% CBS status) as of 30 September 2014. In 1984, it opened its 1000th branch. In 2005, it launched its first debit card in the market.

IOB SME Debit Card has been launched for All MSME customers, who satisfy the conditions of the Bank for issuance of the Card. It has a VISA platform. Separates business and personal expenses as the borrower need not use his personal credit card for business transactions. So, it will help in tracking and monitoring the business expenses.