Indian Overseas Bank, founded by Shri M Chidambaram, was established to boost foreign exchange operations and overseas banking. Initially, branches were set up in Rangoon, Karikudi, and Madras, followed by Penang, Kuala Lumpur, and Singapore in 1938. Despite setbacks during the war, operations in Singapore resumed in 1942.

By 1960, IOB expanded by acquiring several local banks in Tamilnadu, and faced nationalization in 1969. A Malaysian policy led IOB to concentrate on domestic business development, especially in rural areas.

1973 saw IOB partnering with six private banks to form Bharat Overseas Bank in Chennai, which managed IOB's Bangkok branch. Further expansions included a branch in Seoul in 1977 and Colombo in 1979, although the Colombo branch was destroyed in 1983 during Tamil riots.

IOB gained the Bank of Tamil Nadu in 1988-89 and went public in 2000, reducing the government ownership to 75%. The acquisition spree continued with Adarsha Janata Sahakari Bank and Shree Suvarna Sahakari Bank in 2009.

The bank opened new fronts globally, including an extension counter in Ceylon in 2003 and an entry into China in 2005. Re-entering Malaysia in 2009 led to the establishment of the India International Bank with Andhra Bank and Bank of Baroda in 2010, marking a key milestone as operations launched in Malaysia in 2012, with IOB owning a 35% stake.

By 2013, IOB had upgraded its Colombo presence and aimed to be among the major nationalized banks, offering services in retail lending, personal, and digital banking.

The Indian Overseas Bank Credit Card, offered in partnership with Visa International, is available in Gold and Classic variants. Key features include global acceptance at 24 million outlets, 40% cash withdrawal of the credit limit, and purchases up to 50% of the credit limit per day. Additional benefits include an add-on card for family, EMI conversion for large purchases, a revolving credit facility, a rewards program, and insurance coverage for accidents and baggage loss.

With credit limits ranging from ₹10,000 to ₹5 lakh, cardholders get real-time SMS alerts for transactions. Applications are processed online through net banking or in-person at IOB branches.

Payment options are varied, encompassing internet banking, auto-debit, NEFT/RTGS, cheque, or cash deposits at branches. Notably, the card has no joining or annual fees, only a nominal ₹100 fee for photo card issuance.

For assistance, contact IOB's customer care at 1800-425-4445 or 1800-425-7744. Discover the convenience of the Indian Overseas Bank Credit Card, and enhance your credit score for free, gain insights, and unlock offers based on your score.