IOB novio Select Credit Card
Indian Overseas Bank · Open to apply
A lifetime-free, fixed-deposit-backed RuPay card from IOB and novio for people building credit: limit up to 90% of the deposit, two domestic lounge visits a quarter and two international visits a year. novio advertises "novio coins" on UPI and store spends, but the bank's MITC states no reward terms.
- Annual fee
- Lifetime free
- Joining fee
- None
- Lounges
- Domestic: 2 visits a calendar quarter; International: 2 visits a calendar year
- Forex markup
- 2.49%
- Data
- Terms not entered, checked 6 Nov 2026
Where the sources disagree
- total lounge visits: The MITC's "Total Lounge Visits per Year" for Select is 8, which equals the domestic visits alone (2 a quarter); with 2 international visits a year the columns add up to 10. The per-terminal columns are used. novio's page lists the same 2 and 2.
Terms the calculator does not value
- Rewards are run by novio, not stated in the bank's MITC: novio's page advertises "novio coins" (5% on UPI and store spends, 10% on fuel, up to 10% on novio UPI) redeemable for discounted brand vouchers, with no rupee value per coin. Not entered, so the card is listed, not valued.
- The fixed deposit earns interest (novio says up to 7%) and stays under lien while the card is open; the calculator counts neither the interest nor the cost of locking the money.
Sources
- IOB novio Credit Card MITC / Key Fact Statement / Card Member Agreement (the copy linked from IOB's credit card page, last modified 2026-08-20) (Most important terms (MITC), the bank's own, read 6 Nov 2026)
- IOB novio Credit Card MITC (an earlier copy, last modified 2026-08-17) (Most important terms (MITC), the bank's own, read 6 Nov 2026)
- novio, IOB novio RuPay Credit Card page (Partner's page, the bank's own, read 6 Nov 2026)