IOB Credit Card Bill Payment

Methods To Pay IOB Credit Card Bill Offline

1. Cash payment
2. Cheque payment

Let's look at each method in detail

Ways to Pay IOB Credit Card Bill Online

1. 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.Your IOB bank account will get debited with the bill amount instantly while your credit card account gets credited simultaneously.
   1. Login to your IOB internet banking account
   2. Find'Credit Card Bill Payment' option
   3. Choose between'Total Amount Due' or'Minimum Amount Due' or'Other amount'
   4. Click on'Confirm' to process the payment.
2. 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.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.
   1. Login to the net banking account of your savings/current account
   2. Select'Funds Transfer > NEFT Funds Transfer'
   3. Add IOB credit card as beneficiary using the following details
3. 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.
4. 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.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.
   1. Login to your UPI app
   2. Under'Transfer Money' option, click on'Send'
   3. Select'A/C IFSC'
   4. Select'Indian Overseas Bank' from the list of banks
   5. Enter IFSC code - IOBA0009043 for IOB Credit Card Payments
   6. Enter credit cardholder name under'Beneficiary Name'
   7. Enter 16-digit IOB credit card number under the account number
   8. Confirm the card number and click on'Send'
5. 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.
   1. Login to your Paytm app
   2. Click on'Credit Card'
   3. Enter your Credit Card number
   4. Select card issuer
   5. Enter the bill amount
   6. Click on'Proceed'
   7. Select the payment mode -'Paytm Balance' or'Saved Cards' or'BHIM UPI' or'Net Banking'
   8. You will be redirected to the respective payment interface to continue your payment
   9. Enter the required information to process the payment
6. 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.
7. 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:

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:

1. Minimum amount due
2. Total outstanding amount due
3. Due date for the payment
4. Billing starting and ending date
5. Interest charges levied, if any
6. Accumulated reward points
7. List of transactions done on your credit card, both debits and credits, along with the merchant's name
8. Transaction amount
9. Transaction date

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

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