Fuel expenses form a significant part of monthly expenditures, especially for those who frequently commute. Indian Oil fuel credit cards offer cashback, fuel surcharge waivers, and reward points to help users save on fuel purchases. Let’s compare some of the best Indian Oil fuel credit cards and find the one that best suits your needs.
Top Indian Oil Fuel Credit Cards
1. IndianOil HDFC Bank Credit Card
Fees & Charges
- Joining/Renewal Fee: ₹500 + Applicable Taxes
- Renewal Fee Waiver: Spend ₹50,000+ in the first year to waive the renewal fee
- Rental Transactions: 1% fee on transaction amount (capped at ₹3,000 per transaction, effective 1st August 2024)
- International Markup Fee: 3.5% on all international/cross-currency transactions
Reward Program – Fuel Points
- Earn Up to 50 Litres of Free Fuel Annually
- Fuel Transactions at IndianOil Outlets: 5% Fuel Points (Max 250 FP/month for first 6 months, 150 FP/month after)
- Groceries & Bill Payments: 5% Fuel Points (Max 100 FP/month per category)
- All Other Spends (including UPI transactions): 1 FP per ₹150 spent
- No Reward Points on Rental & Government Payments
Fuel Surcharge Waiver
- 1% Waiver on Fuel Surcharge at all fuel stations across India
- Minimum Transaction: ₹400
- Max Cashback: ₹250 per statement cycle
Fuel Points Redemption & Validity
- Redeem for Free Fuel via IndianOil XTRAREWARDSTM Program (1 FP = ₹0.96)
- Redeem via NetBanking:
- Catalogue Products: 1 FP = Up to ₹0.20
- Cashback: 1 FP = ₹0.20 (against statement balance)
- Validity: Fuel Points expire after 2 years
- Redemption Limits:
- Cashback & Travel: Max 50,000 FP/month
- Grocery Spends: Max 100 FP/month
- Points + Pay: Use up to 70% FP, rest via other payment modes
Additional Features
- IndianOil XTRAREWARDSTM Program: Complimentary membership
- Interest-Free Credit Period: Up to 50 days
- Revolving Credit: Available at a nominal interest rate
- Zero Lost Card Liability: Report immediately to avoid fraudulent transactions
- Smart EMI: Convert high-value spends into EMIs
- Contactless Payments: Tap & pay for transactions up to ₹5,000 without a PIN
Eligibility Criteria
For Salaried Individuals:
- Age: 21-60 years
- Net Monthly Income: ₹12,000+
For Self-Employed Individuals:
- Age: 21-65 years
- Annual Income: ₹6 Lakhs+ (ITR required)
2. IndianOil Kotak Credit Card
Fuel & Lifestyle Benefits
- Save up to 5% on Fuel at IndianOil outlets (4% as Reward Points + 1% Fuel Surcharge Waiver).
- 2% Savings on Dining & Groceries via Reward Points (on select merchant categories).
- 0.5% Rewards on all other spends, including UPI transactions.
Reward Points Structure
- Fuel Spends: 24 Reward Points per ₹150 (Max: 1200 points per statement cycle).
- Dining & Grocery Spends: 12 Reward Points per ₹150 (Max: 800 points per statement cycle).
- Other Spends: 3 Reward Points per ₹150.
- UPI on Credit Card: Earn 0.5% Reward Points per ₹150 spent.
Welcome Benefit
Get 1,000 Reward Points on spending ₹500 within 30 days of card issuance.
Annual Fee & Waivers
- Annual Fee: ₹449.
- Waived if you spend ₹50,000 in the previous anniversary year.
Additional Benefits
- Fuel Surcharge Waiver – 1% on transactions between ₹100 – ₹5,000 (Max waiver: ₹100 per cycle).
- Personal Accident Insurance – Cover of ₹2,00,000.
- Concierge Services – Gift delivery, flower delivery, restaurant bookings, travel, and more.
Add-on Card Features
- Free Add-on Card with all benefits of the primary card.
- Set and track spending limits separately.
Reward Redemption Options
- Convert Reward Points into Cashback (Min. 300 points required for redemption).
- Redeem for e-vouchers, merchandise, movie tickets, travel, mobile recharges, and more.
- Redemption Value: 1 point = ₹0.25.
RuPay Contactless Payment
- Tap & Pay for transactions up to ₹5,000 without entering a PIN.
- Secure payments with multi-layered protection.
Eligibility Criteria
- Primary Cardholder Age: 18-65 years.
- Add-on Cardholder Age: 18+ years.
- Must be an Indian resident.
Fees & Charges
- Joining Fee: ₹449.
- Annual Fee: ₹449 (waived on ₹50,000 annual spends).
- Interest on Outstanding Balance: 3.5% per month (42% per annum).
- Foreign Currency Markup: 3.5%.
- Late Payment Fees: ₹100 – ₹1,200 (based on outstanding balance).
- Over-limit Charge: ₹500.
- Cash Advance Fee: ₹300 per ₹10,000 withdrawal.
3. IndianOil Axis Bank Credit Card
- Welcome, Benefit
- Get 500 EDGE MILES on your very first spend within 30 days of card issuance.
- T&C apply
- Fuel Rewards
- Earn 6 EDGE MILES for every ₹150 spent at any IOCL fuel outlet (up to ₹15,000/month).
- Beyond ₹15,000 monthly, earn 1 EDGE MILE for every ₹150 spent.
- T&C apply
- Grocery & Supermarket Rewards
- Earn 2 EDGE MILES on every ₹150 spent, up to a monthly limit of ₹5,000 (then 1 EDGE MILE per ₹150 beyond this).
- T&C apply
- Fuel Surcharge Waiver
- Enjoy a 1% unlimited waiver on fuel surcharge at all IOCL fuel outlets.
- (Note: GST on fuel surcharge is non-refundable)
- General EDGE MILES Earning
- Earn 1 EDGE MILE on every ₹150 spent on eligible transactions.
- T&C apply
- Annual Fee Waiver
- Spend ₹1,00,000+ in an anniversary year to get your annual fee waived.
- Zomato Discounts
- Avail 30% off on food delivery at Zomato using the coupon AXISIOCL.
- Maximum discount of ₹150 per order (min spend ₹200; up to 2 times a month).
- T&C apply
- Lounge Access
- Enjoy 2 complimentary lounge visits per quarter at select domestic airports.
- T&C apply
- Dining Delight
- Get 25% off on Axis Bank Dining Delights via EazyDiner (up to ₹800 per order; 2 times a month).
- T&C apply
- Wednesday Delight
- Mid-week special offers:
- Up to 15% off on flights & hotels via Goibibo & Makemytrip.
- 10% off on orders via Swiggy & Amazon Fresh.
- 10% off on Tira (up to ₹1000).
- T&C apply
- Mid-week special offers:
Fees & Charges
- Joining/Annual Fee: ₹1000 + GST
- Waived if you spend ₹1,00,000 or more in an anniversary year.
- Add-on Card Fee: Nil
- Cash Withdrawal Fee: 2.5% of the withdrawn amount (minimum ₹500)
- Finance Charges: 3.75% per month (55.55% per annum)
- Late Payment Charges:
- Varies based on outstanding amount (ranges from ₹500 to ₹1200).
- Other Fees:
- Over-limit charge, fuel transaction fee (1% + GST), railway ticket booking surcharge, rent surcharge (1% + GST), foreign currency transaction fees, and more.
Eligibility & Documentation
- Eligibility:
- Age: 18 – 70 years
- Residency: Must be a resident of India
- (Final approval is subject to the bank’s discretion)
- Required Documents:
- Proof of Identity: PAN Card photocopy or Form 60
- Proof of Income: Latest payslip / Form 16 / IT Return
- Proof of Residence: Driving License / Electricity Bill / Landline Telephone Bill
- (Additional documents might be required based on your case)
Value Proposition
- Annual Benefits:
- Based on an illustrative annual spend of ₹3,00,000, total rewards and benefits (including welcome miles, lounge access, fuel savings, and discounts) can exceed ₹27,000 in value.
Disclaimer:- The information provided in this article is for informational purposes only. Credit card features, benefits, fees, and eligibility criteria are subject to change at the discretion of the respective banks. Users are advised to check with the bank or financial institution for the latest details before applying. The author and publisher are not responsible for any discrepancies, financial decisions, or losses incurred based on the information provided. Always read the terms and conditions before applying for any financial product.
Why Choose an Indian Oil Fuel Credit Card?
- Save on fuel expenses with cashback and reward points.
- Enjoy surcharge waivers, making fuel purchases more economical.
- Get additional lifestyle benefits such as dining discounts, travel offers, and shopping perks.
- Redeem points for free fuel, further maximizing savings.
MobiKwik App – Pay Your Credit Card Bills & Earn Unlimited Cashback
While fuel credit cards help you save on petrol and diesel, managing credit card bills smartly is equally important. The MobiKwik App makes bill payments easier with the following features:
- Instant Credit Card Bill Payments – Pay your dues within seconds.
- Unlimited Cashback Offers – Earn cashback on every bill payment.
- Credit Score Improvement – Timely payments help boost your credit score.
- Multiple Payment Methods – Use UPI, wallet, net banking, or debit card.
With the MobiKwik App, you save on fuel and enjoy seamless bill payments with exciting cashback offers.
Conclusion
Choosing the right Indian Oil fuel credit card depends on your spending habits and preferences. If you are looking for maximum fuel savings, the HDFC IndianOil Credit Card is an excellent option. However, if you prefer reward points and discounts on other categories, the Citi IndianOil Credit Card may suit you better. Regardless of which card you choose, make sure to pay your credit card bills on time using the MobiKwik App for added cashback and benefits!
