Indian Overseas Bank
IOB ZET Credit Card
- Joining feeFree
- Annual feeFree
- Reward rateRewards not published
Takes you straight to the application. We earn a commission if you are approved, and you pay nothing extra.
- Joining feeFree
- Annual feeFree
- Lifetime freeYes
- Forex markup2.49%
This is a secured card from Indian Overseas Bank, offered through ZET. You open a fixed deposit of at least Rs 2,500 and get a credit limit of 90% of it. The FD earns up to 7% interest while it backs the card, and because approval rests on the deposit, it is a simple way to start building a credit score.
There is no joining or annual fee. The card runs on RuPay and works with UPI, and payments made through the ZET app earn 2% cashback. You also get discounts of up to 20% on apps like Swiggy, Zomato, Amazon Pay, Flipkart, PVR, Myntra and Nykaa.
It suits students, new earners and anyone with a thin or damaged credit file. The catch is the limit, which only grows as your deposit grows.
Best for: First-time credit users, Students and new earners, People rebuilding a credit score, UPI users.
01IOB ZET Credit Card Rewards and Benefits
02IOB ZET Credit Card Annual Fee and Charges
- Joining fee
- Lifetime free
- Annual fee
- Lifetime free
- Spend-based waiver
- None
- Rewards redemption fee
- Nil
- Forex markup
- 2.49%
- Interest rate
- Not published
- Fuel surcharge waiver
- No
- Card replacement
- Not published
03Who It Suits, and Who Should Skip It
The bank has not published enough about this card's rewards or fee for a rupee example.
Good for
- Anyone who wants no annual fee, ever
Skip it if…
- you pay mostly by UPI: a Visa or Mastercard card cannot pay by UPI
- you spend a lot on online shopping, dining, groceries or travel: the card's terms do not state a rate there, so we count nothing
04Product Details
- Secured card issued against a fixed deposit, minimum ₹2,500
- Credit limit of 90% of the FD amount
- FD earns up to 7% interest
- Lifetime free, no joining or annual fee
- RuPay card that works with UPI
- 2% cashback on ZET UPI payments
- 2.49% forex markup
05Pros and Cons
Pros
- Easy approval against a small FD
- No fees
- FD keeps earning interest
- 2% cashback on ZET UPI payments
Cons
- Credit limit is capped at 90% of your deposit
- Cashback applies only to UPI payments made through ZET
- Discount offers vary by brand and change over time
06How IOB ZET Credit Card earns Rewards
Rewards not published.
| Spend category | Rate | Monthly cap | Where it applies |
|---|---|---|---|
| UPI payments (scan and pay) | Earns nothing | - | a Visa or Mastercard card cannot pay by UPI |
| Online shopping | Not stated | - | the card does not publish its base rate |
| Dining and food delivery | Not stated | - | the card does not publish its base rate |
| Groceries | Not stated | - | the card does not publish its base rate |
| Travel: flights, hotels, trains | Not stated | - | the card does not publish its base rate |
| Fuel | Not stated | - | the card's exclusions are not published, and many cards pay nothing here |
| Bills and recharges | Not stated | - | the card's exclusions are not published, and many cards pay nothing here |
| Rent | Not stated | - | the card's exclusions are not published, and many cards pay nothing here |
| Insurance premiums | Not stated | - | the card's exclusions are not published, and many cards pay nothing here |
| School and college fees | Not stated | - | the card's exclusions are not published, and many cards pay nothing here |
| Wallet top-ups | Not stated | - | the card's exclusions are not published, and many cards pay nothing here |
| Taxes and government payments | Not stated | - | the card's terms state no rate here; many cards pay nothing on these |
| Spend abroad or in a foreign currency | Not stated | - | the card does not publish its base rate |
| Everything else | Not stated | - | the card does not publish its base rate |
07IOB ZET Credit Card Travel Benefits
Spending abroad carries a 2.49% forex markup; rewards on it: not stated. See what it costs on your trip
08Cards Similar to IOB ZET Credit Card
IOB ZET Credit Card is a secured card. The two below are the closest on SkyloFin; open any of them, or put them side by side.
| Feature | IOB ZET Credit Card |  SBM ZET Credit Card |  DCB Novio Credit Card |
|---|---|---|---|
| Joining fee | Lifetime free | Lifetime free | Lifetime free |
| Annual fee | Lifetime free | Lifetime free | Lifetime free |
| Rewards | Rewards not published | 2% on most spends | Rewards not published |
| Domestic lounge | Not included | Not included | Not included |
| Forex markup | 2.49% | 2.49% | 2.5% |
| Type | Secured | Secured | Secured |
09Explore More
Already Have a Credit Card?
Track your card spending with SkyloFin - Expense Tracker. Statements, due dates and every spend, read from your bank SMS on your own phone.
Common Questions
How does this secured card work?
You open a fixed deposit of at least ₹2,500 and the bank issues a credit card with a limit of 90% of that deposit.
Can it help me build a credit score?
Yes. Paying your card bill on time is reported to credit bureaus, which builds your score.
Does my FD still earn interest?
Yes, up to 7% a year while it backs the card.
Is there a joining or annual fee?
No. The card is lifetime free.
What is the joining fee for the IOB ZET Credit Card?
The joining fee is Free. Check the bank's page before you apply, because fees change and promotional waivers come and go.
What is the annual fee for the IOB ZET Credit Card?
The annual fee is Free.
Does applying through SkyloFin cost more?
No. You pay the same fees you would pay applying directly with Indian Overseas Bank. We earn a commission from the bank when someone applies through our link, and that is how the site is funded.
SkyloFin is not a bank and does not approve applications. Fees, rewards and eligibility rules are set by the provider and can change without notice. Always read the terms on the provider's site before you apply.
Other options worth a look
See all credit cards
Guides in Plain Words
Short reads that explain how it works before you decide.
- GuidesBest Credit Cards Under ₹500 a Year in India (2026)Credit cards with an annual fee of ₹500 or less (before GST) in 2026, ranked by the reward rate each bank states, with fee waivers.Read the guide →
GuidesNo-Cost EMI: What It Really Costs You, With a Worked ExampleNo-cost EMI is not a trick, but it is rarely free. Here is where the money goes: the discount you give up, the processing fee, and GST on the interest, worked out on a Rs 30,000 phone.Read the guide →- GuidesBest Online Shopping Credit Cards in India (2026)The credit cards that pay the most back on online shopping in 2026, which sites count, the monthly cap and the annual fee.Read the guide →
