RuPay 📡 Contactless NFC

IndianOil Kotak Credit Card

Joining Fee₹449

Annual Fee₹449

Forex Markup 3.5%

Application ModeDirect via Bank Website

⚖️ Card Verdict & Target Persona

Who Should Apply

Motorists and daily commuters fueling regularly at IndianOil (IOCL) petrol pumps wanting 5% fuel savings, grocery/dining points, and RuPay UPI support at a low ₹449 fee.

Who Should Avoid

Users fueling at HPCL or BPCL stations or those seeking airport lounge access.

🎁 Key Features & Highlights

🎉

Joining & Activation Welcome Gift

1,000 bonus Reward Points (worth ₹250 in fuel) on spending ₹500 within the first 30 days of card setup

Up to 5% Savings on IndianOil Fuel

Earn up to 5% total fuel savings (4% as 24 Reward Points per ₹150 + 1% surcharge waiver) at IndianOil petrol pumps via IOCL POS.

2% Valueback on Groceries & Dining

Earn 2% valueback (12 Reward Points per ₹150) on grocery shopping and dining spends (capped at 800 points/month combined).

Spend-Based Annual Fee Waiver

Annual renewal fee of ₹449 is waived off on spending ₹50,000 or more in the previous anniversary year.

💰 Reward Structure & Point Valuation

1 Reward Points = ₹0.25

Standard Base Earning

3 Reward Points per ₹150 spent on other retail and UPI transactions (0.50% return; 1 RP = ₹0.25)

Accelerated / Partner Rate

24 Reward Points per ₹150 (4.0% return) on fuel purchases at IndianOil petrol pumps (capped at 1,200 points/billing cycle); 12 Reward Points per ₹150 (2.0% return) on Grocery and Dining spends (capped at 800 points/month combined)

Points Validity:24 Months

Redemption Fee: ₹0 (Free)

Redemption Modes: Instant Fuel Redemption at IndianOil Petrol Pumps via XTRAREWARDS (1 RP = ₹0.25), Kotak Rewards Portal (Brand Vouchers & Catalog Products)

🚫 No Reward Points / Cashback on:

Non-IOCL Fuel Rent Payments Wallet Loads Government Transactions Jewellery Cash Advances EMI

🛋️ Airport Lounge Access & Spend Criteria

✗ No Free Lounge Access

🛫

Domestic Lounge VisitsNone

🌐

International Lounge VisitsNone

⚠️

Spend Criteria: None

⚡ Spend Milestones & Special Perks

Annual Fee Waiver ₹50,000/yr

Annual renewal fee of ₹449 + GST is waived off on spending ₹50,000 or more in the previous anniversary year

UPI Payments Support✓ Supported (RuPay)

3 Reward Points per ₹150 on eligible merchant RuPay UPI QR transactions (0.50% return)

Fuel Surcharge Waiver1% Surcharge Waived

1% fuel surcharge waiver for transactions between ₹500 and ₹3,000 at IOCL pumps (Capped at ₹100/mo)

📋 Eligibility Criteria

✓ Official Criteria

Age Limit18 - 60 Years

Min. Monthly Income₹20,000

Min. Credit Score720 CRIF

Employment TypeSalaried / Self-Employed

📊 Interest Rates & Charges

Finance Charges (Interest Rate / APR):3.50% per month (42.0% per annum)

Late Payment Penalties:Late payment charges slab-based up to ₹1,200

Official Bank Portal Application

Get the IndianOil Kotak Credit Card

Annual Fee: ₹449/yr (Waivable)

Personalized Card Matcher

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Frequently Asked Questions

No, IndianOil Kotak Credit Card has a joining fee of ₹449 and an annual renewal fee of ₹449 (plus applicable taxes).