Indian Overseas Bank RuPay Platinum
Fuel-surcharge-only floor: 1% on ₹400–₹5,000 offline pump purchases; ₹250/cycle cap; ₹250+GST annual fee
Try your spend →How this estimate works
The current named IOB RuPay Platinum product and live MITC state 1% fuel surcharge waiver at all fuel stations in India on ₹400–₹5,000 transactions, capped at ₹250 per billing cycle. Nil joining fee and ₹250+GST annual fee apply; MITC states 18% GST on bank charges. The calculator assumes one eligible offline pump purchase of the entered principal amount per month repeated twelve times, with actual surcharge posting. It prices relief against a surcharge, not cashback on the fuel itself. No GST refund or minimum-surcharge uplift is assumed. Out-of-range purchases, online fuel and all other categories give zero modeled benefit. At ₹5,000 monthly, gross annual relief is ₹600, less ₹295 taxed annual fee, giving ₹305 net; at ₹400 it is ₹48 gross and minus ₹247 net. No annual-fee waiver is credited: the one-purchase path reaches at most ₹60,000 annual spend, below the ₹1,00,000 waiver target. Points, catalogue redemption, lounge access, insurance and other perks are unpriced, not absent. A separate legacy issuer schedule still calls RuPay variants proposed and lists fuel surcharge instead of waiver. Current named product and MITC support this limited estimate, but confirm the fee and actual surcharge relief on your own account before relying on it. No Select or Novio co-brand terms are imported. This is a limited fuel-only floor, not the full card return.
One purchase per month
₹400 gives ₹48 annual relief and −₹247 after the annual fee. ₹1,000 gives ₹120 relief and −₹175 net. ₹5,000 gives ₹600 relief and ₹305 net. ₹399 and ₹5,001 are outside the waiver range. Pay in full; interest and other charges can erase this relief.
Issuer sources
Current named IOB product and variant fuel terms · Live issuer MITC: Platinum fees, fuel waiver and GST · Separate legacy schedule: proposed variants and surcharge wording
Checked 2 October 2026. Actual-account fee and surcharge confirmation recommended. Points and other benefits unpriced.