Indian Oil Credit Cards: A Comprehensive Comparison Guide

Indian Oil Corporation Limited is an Indian Flagship national oil company in the downstream petroleum sector. This well-renowned company is an Indian central public sector company and the largest commercial oil company that has partnered with many top banks like Axis Bank, Citi Bank, Kotak Bank, and HDFC Bank in the country.

These co-brandings made obvious impacts on the way of payments. But apart from this, these credit cards are money savers for those with heavy traveling and continuous refilling.

All these banks are top-notch card issuers and rank amongst the most prestigious bank in the company. These credit cards’ primary focus is fuel but they also provide you with a lot of other benefits from their respective banks themselves. The added benefits can include accelerated reward points, online and offline discounts, movie and dining offers, gift vouchers, and whatnot. However, there are many other co-branded fuel credit cards but here in this particular article, we will only follow IOCL-collaborated credit cards.

In this article, the followings are the features and benefits, and fees of all the IOCL co-branded credit cards and a comparison to all the other cards, choosing the one best for you.

Indian Oil Co-Branded Credit Cards

As stated above, we are going to look into credit cards in collaboration with the IOCL. These elaborated credit card details and their comparison will help you find the best fit for you. Cards from different issuers tend to have a lot of differences but being collaborated with the same company, there are some similarities and some differences. Although the objective of all of the cards is the same but the benefits have changed. Here is a detailed comparison of all of the cards liked with IOCL –

IndianOil HDFC Bank Credit Card

This credit card is issued by HDFC Bank, in collaboration with the IndianOil Corp. Ltd. This card is very generous when it comes to its reward rates. The reward type for this card is fuel points, which can help you get free fuel. With these reward points, you can get up to 50 liters of free fuel annually.

This card also gets you a number of reward points which you can then redeem at a very good rate i.e.; 1FP = Rs. 0.96. the joining fee for this card is Rs. 500 only.

Features and Benefits

This card has many benefits with movies and dining, amazing reward rates and redemption and other added benefits of reward in miscellaneous purchases. These benefits are as follows –

Reward points –

You are eligible to get up to 5% accelerated fuel points on spending at IndianOil fuel stations and you can only get a maximum of 250 fuel points every month in the first 6 months and the later six months you can get up to 150 fuel points per month from 7^th
You can also earn up to 5% accelerated fuel points on spending on your groceries and bill payments as fuel points and you can earn up to 100 fuel points per month in every category.
You can also avail of 1 fuel point on every Rs. 150 spent on all the other categories.
You will get up to 5% accelerated fuel points only for the fuel transactions made on IndianOil retail outlets.
On the other outlets you will only earn 1% fuel point on every Rs. 150 spent.
Your fuel points are valid for 2 years from the day of its accrual.

Fuel surcharge waiver –

You can get a 1% fuel surcharge waiver on all the fuel stations in the country.
This offer is valid for up to a minimum transaction of Rs. 400.
On every statement cycle, you can get a maximum of Rs. 250 cashback.

Dining benefits –

You can get up to 2.5% off on your dining bills with IndianOil HDFC Bank Credit Card.

Annual Fee waiver –

If you reach a milestone expenditure of Rs. 50,000 or more in your first year, your renewal membership fee will be waived.

Fees and charges –

Joining and renewal membership fee forIndian oil HDFC credit card is Rs. 500 plus applicable taxes which can be waived upon reaching the milestones.
There is no fee for add-on cards.
Interest rate charges with IndianOil HDFC Bank Credit Card are 3.49% per month which makes it 41.88% annually.
Charges of cash advance fee are 2.5% of the withdrawn amount or Rs. 500 whichever is higher.
Rewards redemption fee of Rs. 99 per withdrawal request.
Foreign currency markup is 5% of the amount.

Apart from these features and benefits, there are other side features of this card such as SmartEMI, contactless payments, Zero card responsibilities, etc. We can say that there are many benefits of this card almost at no cost.

IndianOil AXIS Bank Credit Card

Indian oil Axis Bank credit card is issued by AXIS bank with the sole purpose of providing great saving opportunities to its customers. It is a basic entry-level credit card that is bound to provide for your fuel needs and can help you save on your utility and grocery bills as well. This credit card has one of the decent reward programs present in the market.

Being an entry-level credit card, the benefits are sure a bit more luxurious when it comes to saving. You get discounted rates at dining and movies with the joining fee of just Rs. 500 plus applicable charges. Apart from fuel, this card also gives your rewards on every other miscellaneous purchase.

Features and Benefits

There are much more benefits of the IndianOil AXIS Bank Credit Card than just a fuel surcharge waiver. These other benefits are as follows –

Welcome bonus –

With this credit card you can earn 100% cash back of up to Rs. 250 on all of your fuel transactions within the first 30 days of the card issuance.

Reward points –

You can enjoy the benefit of up to 4% value back on your fuel transactions by earning 20 reward points on every Rs.100 spent at IOCL fuel stations across the country.
You can avail this offer at any IOCL fuel station with transactions between Rs. 100 to Rs. 5,000 per month.
You can also enjoy up to 1% value back on online shopping by earning 5 reward points on every Rs. 100 spent.
You can avail this offer with online merchant transactions ranging from Rs. 100 to Rs. 5,000.
You can also earn 1EDGE REWARD point on every Rs. 100 spent with your IndianOil AXIS Bank Credit Card.

Fuel surcharge waiver –

You get a 1% fuel surcharge with IndianOil AXIS Bank Credit Card.
You can avail this offer with the expenditure of Rs. 100 to Rs. 5,000 at any fuel station. The maximum you can get on every statement cycle is Rs. 50.

Spend-based waiver –

Your annual fee can be waived if you spend more than Rs. 50,000 in the previous year.

Movies –

BookMyShow gets you an instant discount of up to 10% on your movie tickets booked via its application or website.

Dining Delights –

You can get up to 15% off or Rs. 500 on your dining orders with the partner restaurants of the bank.
To avail of this offer, your minimum order value should be Rs. 1,500 and you can avail this offer twice a month and the max benefit you can get is Rs. 1,000.

Fees and Charges

The joining fee and the renewal fee for this card are Rs. 500 plus applicable taxes. This fee can be waived upon reaching the milestone.
There is no reward redemption fee with IndianOil AXIS Bank Credit Card.
The foreign currency markup charged with this credit card is 3.5% on the transacted amount.
The interest rate for this credit card is 3.4% per month which makes it 49.36% annually.
Cash advance fee charged on the withdrawn amount is 3.4% of it or a minimum of Rs. 500.
There is no charge for an add-on card.

This card is not just well suited for fuel, but you can explore, spend and earn a lot with this well-equipped credit card. This credit card gives you discounts and rewards for your daily living expenses and helps you build financial stability.

Indian Oil Citi Credit Card

Indian oil citi credit card is issued by Citi Bank in partnership with IndianOil. This co-branded credit card can help you earn Turbo Points on all of your expenses using the credit card. You can even earn more points while making your purchases at the IOCL fuel stations. Other amazing features of this card make it desirable

Citi Bank has many benefits such as 250 turbo points as its welcome gift, an attractive reward point program, and much more.

Features and Benefits

This credit card is very well suited for fuel but it also has other benefits like a welcome bonus, movie and dining benefits, reward rates program, etc. The advantages of this card are stated below –

Welcome bonus –

As a welcome benefit, you can earn up to 250 Turbo points upon activating your card.

Reward points –

You get accelerated 4 Turbo points on your every Rs. 150 spent on fuel expenses (max capped at 267 Turbo points on every transaction)
You can earn 2 turbo points on every Rs. 150 spent on your groceries and supermarket
For your expenses over Rs. 5,000, you can earn 1 extra Turbo point on every Rs. 150 spent.
You will get 1 Turbo point on every Rs. 150 spent on all other miscellaneous expenses
The turbo points will never expire and has lifetime validity.
You can redeem your turbo points against a variety of categories which includes cashback, shopping, etc.

Fuel surcharge waiver –

You also get a 1% fuel surcharge reversal on your fuel purchases.

Spend-based waiver –

Annual fee of Rs. 1,000 plus applicable taxes will be waived if you spend over Rs. 30,000 in your previous year.

Dining Delights –

You can get up to a 20% discount on your dining bills with the partnered restaurants by using your card.

Other benefits –

You can get exclusive saving offers on your flight bookings through MakeMyTrip
You also get to save up to Rs. 1,000 with the help of EaseMyTrip.
With the help of this card you can get up to 15% discount on your Vista Rooms.
On duty-free stores, you can get up to 15% cashback

Fees and Charges

The joining fee and the renewal fee for Indian Oil Citi Credit Card is Rs. 1,000 plus applicable taxes which can be waived upon reaching the milestone.
There is no reward redemption fee with Indian Oil Citi Credit Card.
The foreign currency markup with Indian Oil Citi Credit Card is 3.5% on the transacted amount.
The interest rate for the card is 3.75% per month which makes it 45% annually.
Cash advance fee charged on the withdrawn amount is 2.5% of it or a minimum of Rs. 500.
There is no charge for an add-on card.

This credit card rewards you with most of the things you do or purchase with your credit card. However, this credit card is still the very-well suited for people who make a lot of fuel transactions. But this card caters to every possible need of its consumer which makes it worth its joining fee.

Indian Oil Kotak Credit Card

The Indian oil kotak credit card is newly launched and is a great entry-level credit card with exciting fuel benefits. You also have a chance to travel to your dream destinations as well without worrying about fuel prices.

At a decent annual fee of Rs. 449 plus applicable taxes, you can get rewarded for your expenditures on grocery and dining along with accelerated reward points on Indian Oil Fuel spends. The reward points earned with this credit card can be redeemed as cashback as an introductory offer, against products or vouchers at the Kotak bank website catalog, or can be converted to xtra rewards points.

Features and Benefits

This credit card can reward you with free fuel every year along with a hoard of benefits. The benefits provided by this card are as follows –

Welcome bonus –

You get 1000 reward points as a welcome gift upon spending over Rs. 500 within the initial 30 days of the card issuance.
One must pay the joining fee of the card to avail of this benefit.

Reward points –

You earn up to 24 reward points (4%) on every Rs.150 spent on fuel and you can earn a maximum of 1200 reward points per month.
You earn 12 reward points (2%) on spending every Rs. 150 on dining and grocery and you can also earn a maximum of 800 reward points every month.
You can get 0.5% as reward points on all the other miscellaneous expenses i.e. you will earn 3 reward points upon spending every Rs. 150 and there is no maximum cap on this offer.
You can redeem your reward points against the product in Kotak’s catalog.
You can redeem your reward points through merchandise, products, travel and gift vouchers, mobile recharge, etc.

Fuel surcharge waiver –

You get a 1% fuel surcharge waiver on fuel transactions between Rs. 100 and Rs. 5,000
The maximum benefit which you can avail of every month with this offer is Rs. 100.

Spend-based waiver –

Annual fee will be waived if the previous year’s expenditure goes over Rs. 50,000

Dining Delights –

You earn 12 reward points on spending Rs. 150 on dining i.e., you earn 2% back as reward points on all of your dining expenses.

Fees

The joining fee and the renewal fee for this card is Rs. 449 plus applicable taxes which can be waived upon reaching the milestone.
There is no reward redemption fee with this credit card.
The foreign currency markup with this credit card is 3.5% on the transacted amount.
The interest rate for the card is 3.5% per month which makes it 42% annually.
Cash advance fee charged on the withdrawn amount is Rs. 300 on every Rs. 10,000 withdrawn.
There is no charge for an add-on card.

For those who travel a lot with their vehicles and has to refuel them constantly, this card can be a great choice. This card gives you a card on your every purchase so be it of fuel or any other. You can use these reward points and purchase other things which you like.

For redemption against fuel, 1 TP = Re.1, for other categories 1 TP = Re. 0.25 to Re. 0.35, and for AirMiles, 1 TP = 0.75 Airmile/Intermile

Quick Comparison

Here is a quick comparison of all of the credit cards issued by different banks collaborating with IndianOil Corp. Ltd.

Basis	IndianOil HDFC Bank Credit Card	IndianOil AXIS Bank Credit Card	Indian Oil Citi Credit Card	Indian Oil Kotak Credit Card
Joining Fee	Rs. 500 plus applicable taxes	Rs. 500 plus applicable taxes	Rs. 1,000 plus applicable taxes	Rs. 449 plus applicable taxes
Annual Fee	Rs. 500 plus applicable taxes	Rs. 500 plus applicable taxes	Rs. 1,000 plus applicable taxes	Rs. 449 plus applicable taxes
Welcome benefit	N/A	100% cash back of up to Rs. 250 on all of your fuel transactions within the first 30 days of the card issuance	250 Turbo points upon activating your card	1000 reward points as a welcome gift
Reward Redemption rate	1 FP = 96 Paise	1 RP = 0.20 Rs	1 TP = Re. 1 for fuel purchases 1 TP = Re. 0.25 to Re. 0.35 1 TP = 0.75 for airmiles	1 RP = 0.25 RP
Reward points	5% accelerated fuel points on spending at IndianOil fuel stations5% accelerated fuel points on spending on your groceries and bill payment as fuel points1 fuel point on every Rs. 150 spent on all the other categories5% accelerated fuel points only for the fuel transactions made on IndianOil retail outlets.1% fuel point on every Rs. 150 spent	4% value back on your fuel transactions by earning 20 reward points on every Rs.100 spent at IOCL fuel stations1% value back on online shopping by earning 5 reward points on every Rs. 100 spent.1EDGE REWARD point on every Rs. 100 spent	You get accelerated 4 Turbo points on your every Rs. 150 spent on fuel expenses (max capped at 267 Turbo points on every transaction)You can earn 2 turbo points on every Rs. 150 spent on your groceries and supermarketFor your expenses over Rs. 5,000, you can earn 1 extra Turbo point on every Rs. 150 spent.You will get 1 Turbo point on every Rs. 150 spent on all other miscellaneous expenses	You earn 24 reward points (4%) on every Rs.150 spent on fuel and you can earn a maximum of 1200 reward points per month.You earn 12 reward points (2%) on spending every Rs. 150 on dining and grocery and you can also earn a maximum of 800 reward points every month.You can get 0.5% as reward points on all the other miscellaneous expenses i.e. you will earn 3 reward points upon spending every Rs. 150 and there is no maximum cap on this offer.
Fuel surcharge waiver	1% fuel surcharge waiver	1% fuel surcharge	1% fuel surcharge reversal	1% fuel surcharge waiver
Movies	N/A	At BookMyShow you get an instant discount of up to 10% on your movie tickets	N/A	N/A
Dining	Up to 2.5% off on your dining bills	Up to 15% off or Rs. 500 on your dining orders with the partner restaurants	You can get up to a 20% discount on your dining bills with the partnered restaurants by using your card.	You earn 12 reward points on spending Rs. 150 on dining i.e., you earn 2% back as reward points on all of your dining expenses.
Annual Fee waiver	If you reach a milestone expenditure of Rs. 50,000 or more in your first year, your renewal membership fee will be waived	If you reach a milestone expenditure of Rs. 50,000 or more in your first year, your renewal fee will be waived	If you reach a milestone expenditure of Rs. 30,000 or more in your first year, your renewal fee will be waived	If you reach a milestone expenditure of Rs. 50,000 or more in your first year, your renewal membership fee will be waived
Foreign currency markup	3.5% of the transacted amount.	3.5% of the transacted amount.	3.5% of the transacted amount.	3.5% of the transacted amount.
Interest Rate	3.49% per month 41.88% per year	3.4% per month 49.36% annually	3.75% per month 45% per year	3.5% per month 42% per year
Cash advance fee	2.5% of the withdrawn amount or Rs. 500 whichever is higher.	3.4% of the withdrawn amount Or a minimum of Rs. 500	2.5% of the withdrawn amount or a minimum of Rs. 500	Rs. 300 on every Rs. 10,000 withdrawn.
Rewards redemption fee	Rs. 99 per withdrawal request	Nil	Nil	Nil

Benefits of fuel credit card

These types of cards are best suited for fuel transactions but there are several advantages to them as well which help in day-to-day expenses as well. Following are a few benefits of fuel credit cards –

Money saving with fuel transactions
Redeemable reward points against fuel, shopping, and travel.
Fuel surcharge waiver.
Travel and lifestyle benefits

Indian Oil Credit Cards: A Comprehensive Comparison Guide