Indian Bank was founded in the year 1907 and is headquartered at Chennai. It has a wide network of 2816 ATMs and 2900 branches across the country. It is one of the leading public sector banks in the country. The total business of the bank has been 4.30 lakh crores as at the end of March 2019. It is an ISO certified bank and is one among the banks with certification worldwide. It also has branches in Singapore and Colombo.
It has 227 Overseas Correspondents spread over 75 countries. It has two subsidiaries namely Indbank Merchant Banking Services Ltd and Indbank Housing Ltd. An exclusive branch for handling forex transactions is at Chennai and there are 99 forex authorised branches.
Indian Bank Credit Cards
Indian Bank offers various corporate and retail products and services and credit cards are one of them. The Indian Bank Credit Cards are issued with no annual fee and the rate charged for carried over balance beyond the credit period is as low as 1.99% p.m. which makes it a very popular and desired card. They have a special card the Bharat Credit Card which is exclusively meant to be used in India.
The following are the range of Indian Bank Credit Cards:
The following are the features and benefits of Indian Bank Credit Cards:
The features of various credit cards of Indian Bank are as mentioned in the table below:
|Name of the Card||Features of the card|
|Indian Bank Classic Credit Card|
|Indian Bank Gold Card|
|Indian Bank Platinum Credit Card|
|Indian Bank Bharat Credit Card|
|Indian Bank Visa Gold/Platinum Business Card|
There is 1 reward point for every purchase of 200/- which is equivalent to Re.1/-. The reward points can be redeemed on accumulation up to 500/-. The amount on redemption will be credited directly to the bank account of the cardholder if it is a cashback. There are other multiple redemption offers as well.
The annual fee and renewal fee for Indian Bank Credit Card are as given below:
|Name of the card||Joining fee||Renewal fee|
|Indian Bank Classic Card||Nil||Nil|
|Indian Bank Gold Card||Nil||Nil|
|Indian Bank Platinum Card||Nil||250/-|
|Indian Bank Bharat Credit Card||Nil||Nil|
|Indian Bank Visa Credit Card||Nil||Nil|
|Add-on Card||250/- for Gold Card and 100/- for Classic Card and Nil for others||Nil|
The charges for Indian Bank Credit Card are as mentioned below:
|Type of Charge||Amount|
|Finance Charge||1.99% p.m. for all other cards and 1.79% p.m. for Bharat Card|
|Charges for late payment||250/- for all other cards and 50/- for Bharat Card|
|Cash Advance fee||50/- for all other cards and 25/- for Bharat Card|
|Foreign currency mark -up fee||3% for all other cards and Not Applicable for Bharat Card|
|Cash Advance charges||2..25% for all other cards and 1.99% for Bharat Card.|
|Fee for the usage of the card over and above the limit||50/- for all other cards and 25/- for Bharat Card.|
|Cheque bounce charges||250/- for other cards and 50/- for Bharat Card|
|Fuel Surcharge||2.5% on the transaction|
|Surcharge on Railway Ticket Booking||1.8% on the transaction|
|Retrieval of Charge Slip||125/- for each slip for all other cards and 75/- for each slip for Bharat Card|
|Cash withdrawal at ATMs overseas||250/- for all other cards and Not applicable for Bharat Card|
Steps to be followed by existing customers
You should make use of the digital platform provided by MyMoneyMantra for applying for the card.
To apply for the card offline, you have to visit the nearest Indian Bank branches and apply for the credit card by submitting the relevant documents
The following are the eligibility criteria for Indian Bank Credit Card
The following documents are required to apply for Indian Bank Credit Card.
The Account Holders of Indian Bank can make Credit Card Payments in the following ways:
All other customers can make the payment in the following ways:
The Customer Care Number for Indian Bank Credit Card is 1800 425 00 000
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The billing date of for Indian Bank Global Classic and Global Gold Card is the 20th of every month, for the Indian Bank Bharat Card it is the 15th of every month, and for Indian Bank Visa Business Card it is the 25th of every month. The payment due date is 15 days after the billing date.
The minimum amount due is a percentage of the total outstanding amount due on the card. For Classic and Gold Card the minimum amount due is 5% of the outstanding balance. For Bharat Card it is 10% of the outstanding amount and for Visa Business Card it is 25% of the outstanding amount with a minimum of 1000/-.
In the case of loss of Indian Bank Credit Card, the same should be reported to the Customer Care Centre of the Bank. The card will be immediately blocked and a replacement card will be issued. In case of theft of the card, an FIR has to be filed with the police department and a copy of the same has to be submitted to any of the branches of Indian Bank.
There are no limits for the number of transactions on the Indian Bank Credit Card. There is restriction only in the case of Indian Bank Bharat Card. The transactions are limited to 5 in a day and the cash withdrawal limit is 2 per day.
In the case the minimum amount due is not paid, a penalty will be imposed. The limit will be reduced to that extent until the payment is made. If the dues are not paid continuously for two months then the card will be blocked and will be reactivated only on the payment of the dues. If the dues are not paid for more than 3 months then you will be listed as a defaulter.
Yes, cash can be withdrawn up to a limit of 40% of the credit limit on Global Classic and Global Gold Card. Cash can be withdrawn up to 25% of the credit limit on Bharat Card and up to 20% of the credit limit on Visa Business Card. The amount is limited to 25000/- in a day.
The interest-free period is between 15 days to 45 days on Indian Bank Credit Card.
CVV number is the Card Verification Value which is a 3-digit number. This will generally be mentioned on the back of the Credit Card adjacent to the signature portion. This CVV number is an essential requirement for all the online transactions.