Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • IOB Credit Card Bill Payment

    Indian Overseas Bank (IOB) credit card users can use any one of the online and offline methods to pay their card bills on time.

    IOB typically sends credit card statements generated on 20th of every month to the registered e-mail ID or by ordinary post. The statement clearly indicates the total outstanding due on the card, minimum amount due, and the payment due date.

    Failure to pay at least the minimum amount due on the IOB credit card would result in late payment charges. Typically, IOB charges Rs.100 as late payment fee. To avoid paying additional charges on your credit card make sure you pay the bill amount or at least the minimum amount due on or before the due date.

    Listed below are different methods through which you can make your IOB credit card bill payment.

    Methods To Pay IOB Credit Card Bill Online

    • IOB net banking
    • National Electronic Fund Transfer (NEFT) funds transfer
    • Auto Debit
    • Through UPI app
    • Through Paytm app

    Methods To Pay IOB Credit Card Bill Offline

    • Cash payment
    • Cheque payment

    Let's look at each method in detail

    Ways to Pay IOB Credit Card Bill Online

    • Internet Banking:

      Existing IOB accountholders, either savings or current, can utilise the IOB net banking facility to pay their credit card bill online. However, in order to use the facility, you must have registered your IOB bank account for the online banking facility.

      Once you have access to IOB internet banking, follow the steps to pay your credit card bill.

      • Login to your IOB internet banking account
      • Find'Credit Card Bill Payment' option
      • Choose between'Total Amount Due' or'Minimum Amount Due' or'Other amount'
      • Click on'Confirm' to process the payment.

      Your IOB bank account will get debited with the bill amount instantly while your credit card account gets credited simultaneously.

    • NEFT:

      NEFT funds transfer is another online bill payment method that allows non-IOB customers to make credit card payment online. You must have a savings/current account with any other bank and the associated net banking account to initiate NEFT funds transfer to your IOB credit card.

      The following steps would help you make your IOB credit card bill payment through NEFT.

      • Login to the net banking account of your savings/current account
      • Select'Funds Transfer > NEFT Funds Transfer'
      • Add IOB credit card as beneficiary using the following details
      IFSC Code for IOB credit card payment IOBA0009043

      Bank Name

      Indian Overseas Bank

      Branch Address

      763, Central office complex, Anna Salai, Chennai

      Account Number

      16-digit IOB credit card number

      Account Holder Name

      IOB credit card holder name

      • Once the beneficiary is added, re-visit the'Funds Transfer' option
      • Select IOB credit card, enter the bill amount and click on'Pay'

      NEFT bill payment typically gets credited within the same day or on the following day based on your payment time and the bank's clearance time.

    • Auto-debit Facility:

      Another option which is often preferred by most IOB credit cardholders is the auto debit facility. The auto debit option requires you to enroll for the facility while applying for the credit card or after receiving it.

      You can enroll for the facility either through your net banking account or by submitting a written request to the bank.

      Check with IOB for the auto-debit form or your net banking account to enroll for the auto debit facility. While subscribing for the facility, you will find an option to choose the payment date, minimum amount due or total amount due, and other such options.

      Once you're enrolled, the credit card bill amount will be debited from your savings account on the same day every month as preferred.

    • Through UPI App:

      If you're using the BHIM/UPI app and have linked your savings/current bank account with the app, you can pay your IOB credit card bill through the UPI app.

      Follow the steps provided here to make the payment.

      • Login to your UPI app
      • Under'Transfer Money' option, click on'Send'
      • Select'A/C IFSC'
      • Select'Indian Overseas Bank' from the list of banks
      • Enter IFSC code - IOBA0009043 for IOB Credit Card Payments
      • Enter credit cardholder name under'Beneficiary Name'
      • Enter 16-digit IOB credit card number under the account number
      • Confirm the card number and click on'Send'

      The payment would be initiated as soon as you click on send and you will receive a notification once your IOB credit card account gets credited with the amount.

    • Paytm App:

      Paytm mobile app users can pay IOB credit card bills without any hassle. Paytm offers various options through which you can make the payment such as Paytm balance, from saved cards, using BHIM UPI ID, or net banking account.

      Bill payments towards all Visa, MasterCard, Amex and Diners credit cards issued by all major banks are being accepted by Paytm.

      These instructions would help you pay your IOB credit card bill through Paytm.

      • Login to your Paytm app
      • Click on'Credit Card'
      • Enter your Credit Card number
      • Select card issuer
      • Enter the bill amount
      • Click on'Proceed'
      • Select the payment mode -'Paytm Balance' or'Saved Cards' or'BHIM UPI' or'Net Banking'
      • You will be redirected to the respective payment interface to continue your payment
      • Enter the required information to process the payment

      Based on your source, the payment processing time would vary.

    • PhonePe

      • Open PhonePe app.
      • Go to ‘Recharge and Pay Bills’ section.
      • Go ‘Financial Services & Taxes’ section.
      • Click on ‘Credit Card Bill’.
      • Enter your ‘Credit Card Number’.
      • Click on ‘Confirm’.
      • You can view your credit card bill.
      • Finally pay your bill through UPI.
    • Cheque:

      Under offline payments, one of the payment methods for IOB credit card bill payment is the cheque payment.

      To make your credit card payment through cheque, you need to draw a cheque in favour of IOB credit card account and drop it in any of the cheque drop boxes or visit the bank's branch office to submit the same.

      Make sure to write your name and mobile number on the flipside of the cheque.

    • Cash:

      If you're located close to any one of IOB bank branches, you can directly visit the branch office to make your credit card payment.

      Once you're at the branch office, fill the cash deposit slip with the required details and hand it over the counter with the credit card bill amount.

      You will get an acknowledgement slip for the payment and the same can be used to track your payment status.

    Payment Processing Time for the Various Methods

    The payment processing time for the various methods of bill payment for Indian Overseas Bank (IOB) credit cards are as follows:

    Payment Method Processing Time
    Standing instructions Instant credit
    SWIFT Transfer 24 to 48 hours
    E-Pay Two working days, excluding Saturdays and Sundays
    NEFT Instant credit
    RTGS Instant credit
    IMPS Instant credit
    ECS/AHS Credited on payment due date
    Card payment from other bank websites Three working days excluding Saturdays and Sundays

    IOB Bank Credit Card Statement

    IOB Bank sends your credit card statement on a monthly basis to your registered email address or postal address, depending on which mode of communication you have opted for.

    The IOB Bank credit card statement will provide the following information:

    • Minimum amount due
    • Total outstanding amount due
    • Due date for the payment
    • Billing starting and ending date
    • Interest charges levied, if any
    • Accumulated reward points
    • List of transactions done on your credit card, both debits and credits, along with the merchant's name
    • Transaction amount
    • Transaction date

    It is important to go through the credit card statement in detail every month and report any unauthorized transactions to the bank.

    FAQs on IOB Credit Card Bill Payment

    1. When a customer makes a payment towards an IOB credit card, how long will it take for the money to be credited?
    2. If you have deposited the money into your credit card account through electronic payment modes such as NEFT or direct debit, the payment will be credited within a few hours or if done before the processing cut-off time, it will be done during the processing of that night’s batch of payments. If deposited by cheque, it may take two to three business days.

    3. Can I make my credit card bill payment through the mobile?
    4. You can make your payments by logging into the internet banking portal of IOB on your mobile through a secure mobile browser.

    5. What should a customer do in case he has entered the wrong credit card number while making payments?
    6. The first thing to do is to contact the bank by using the customer care helpline for credit cards of IOB. You can also write an email to the customer care department regarding this.

    7. How can make offline payment towards my Credit Card Bill?
    8. You can make credit card bill payments offline through the following ways: visiting your nearest IOB bank branch, through the ATM of the bank (if such a facility is available), and through a cheque. You can also submit an Electronic Clearing System (ECS) mandate form to the bank so that the amount is automatically debited from your account every month.

    9. How can I get IOB credit card statement?
    10. Your IOB credit card statement will be sent to your registered email address or postal address. You can also download a soft copy of your credit card statement by logging into your internet banking portal.

    11. Can I pay my IOB credit card bill from other credit card?
    12. No, you cannot pay your IPB credit card bill from another credit card.

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