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Indian Bank One Co-Branded Credit Card Review

Rewards card

The Indian Bank One Co-Branded is lifetime free (no joining or annual fee). It earns 0.2% back on regular spends. Best for: free metal card with low forex — our verdict: consider.

Vyaya Team · Aug 2026
5 min read
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Value Score
9.0 / 10
Annual Fee
₹0
Best For
No-fee minimalist, Indian Bank customer
Network
Visa
Expert Verdict

The Indian Bank One Co-Branded is a no-frills lifetime-free metal card whose main draws are app convenience, a low 1% forex markup and never-expiring points. The 0.1/point value, absent lounge access and broad exclusions keep it firmly entry-level.

Indian Bank One Co-Branded credit card by Indian Bank - Visa network
REWARD SUMMARY
0.2% Base Rewards
Rewards card
← Tap to flip back

The Bottom Line

The Indian Bank One Co-Branded is built for no-fee minimalist and indian bank customer. With no annual fee, it offers 1% rewards on other and fuel surcharge waiver. It makes the most sense if your spending matches no-fee minimalist and indian bank customer.

It earns a base reward rate of 0.2% and stacks best when your spending lines up with No-fee minimalist, Indian Bank customer.

What we like
+Lifetime-free metal card (zero joining and annual fee) fully managed through the OneCard app
+Low 1% forex markup, far below the typical 3.5%, useful for international spends
+Accelerated 5X Reward Points (5 RP per Rs.50) available versus the 1 RP per Rs.50 base rate
+Reward Points never expire and there is no redemption fee
+Fuel surcharge waiver of 1% capped at Rs.400 per month (~Rs.4,800/year)
What we don't
–Very low 0.1/point value, so even the 5X rate is only ~1% effective return
–No airport lounge access at all (0 domestic, 0 international)
–Many common categories excluded from earning: rent, cash withdrawals, wallet loads, IPO, mutual funds and P2P transfers
–Thin benefits beyond the metal card and app convenience, with no insurance or milestones

Who Should Get This Card

Use this as a quick filter before comparing rewards or fees in detail.

Best fit for

Ideal
+
No-fee minimalist

Users wanting a free metal card with app-based control, never-expiring points and a low 1% forex markup.

+
Indian Bank customer

Existing Indian Bank account holders who want a simple co-branded card for everyday non-restricted spends.

Probably not for

Skip
–
Lounge seeker

With zero lounge access, frequent flyers will find nothing here.

–
Rewards maximiser

The 0.1/point value caps even accelerated earning near 1%, well below better rewards cards.

Is It Worth It For You?

Slide to your typical monthly card spend. We'll do the rest.

Calculate Your Value

Adjust your typical monthly spend by category.

Dining
0₹5,000Max ₹50k
Est. Returns
Travel
0₹10,000Max ₹1L
Est. Returns
Online & Shopping
0₹8,000Max ₹80k
Est. Returns
Groceries
0₹6,000Max ₹40k
Est. Returns
Annual rewards₹0
Annual feeFREE
Net Value (Year 1)+₹0
Net Value (Year 2+)+₹0

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Reward Rates

Indian Bank One Co-Branded offers 0.2% basic reward rate.

Quick Calculator

Estimate earnings for a specific purchase

₹
Other
1%

Welcome Offer

Welcome Benefit

Fees & Charges

Joining fee₹0
Annual fee₹0
Fee waiverN/A

Eligibility

  • Min Credit Score: 700
  • Lifetime free metal card in partnership with OneCard; available in Visa and RuPay variants; also offered as secured card against FD.

Exclusions & Terms

ERUPI, IPO, Mutual Funds, Foreign Inward Remittances, lending/digital account opening platforms

  • Not allowed / restricted categories per MITC; do not earn reward points.

Forex markup

  • Foreign currency markup

P2P / P2PM transfers

  • Not permitted / do not earn reward points per MITC.

Cash withdrawal (ATM and at merchant)

  • Does not earn reward points. MCC 6010/6011 manual and automated cash disbursements.

Wallet loads

  • Do not earn reward points.

Frequently Asked Questions

6 data-backed answers from our card database

What is the annual fee of the Indian Bank One Co-Branded credit card?+

None — the Indian Bank One Co-Branded is lifetime free (no joining or annual fee).

What rewards does the Indian Bank One Co-Branded credit card give?+

It earns 1 Reward Points per ₹50 spent (about 0.2% back).

Does the Indian Bank One Co-Branded credit card offer airport lounge access?+

No, the Indian Bank One Co-Branded does not include complimentary airport lounge access.

What is the eligibility for the Indian Bank One Co-Branded credit card?+

a credit score of 700+. Lifetime free metal card in partnership with OneCard; available in Visa and RuPay variants; also offered as secured card against FD.

What is the forex markup on the Indian Bank One Co-Branded?+

3.5% + GST on international transactions.

Is the Indian Bank One Co-Branded credit card worth it?+

The Indian Bank One Co-Branded is lifetime free (no joining or annual fee). It earns 0.2% back on regular spends. Best for: free metal card with low forex — our verdict: consider.

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