IOB Merchant Credit Card (M-Card) IOB M-Card
A business credit card from Indian Overseas Bank for retail and wholesale traders, linked to their cash credit or overdraft, to pay for business needs digitally.
Last updated on
- Status
- Open
- Run by
- Indian Overseas Bank
What you get
- Card limit of 10% of your working capital limit, up to ₹5 lakh
- Renewed every year with your working capital limit
- Use at shops and online up to ₹1 lakh a day
- One card per firm for partnerships and companies
Who can apply
- Open to businesses in trading.
- Micro, small and medium enterprises.
- The most on offer is ₹5 lakh.
- Udyam registration is needed. It is free.
- Retail or wholesale traders as individuals, proprietorships, partnerships or private limited companies
- GST registration where it applies
- Working capital limit with the bank of up to ₹50 lakh
- For business use only. Not usable at jewellery shops, for demat accounts or abroad
How to apply
- Ask your IOB branch to add an M-Card to your cash credit or overdraft limit
In person, your Indian Overseas Bank branch
In Kerala, any Indian Overseas Bank branch in Kerala, alongside a working capital limit
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.