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Features and Benefits of Indian Oil Credit Card By Kotak Bank

Let rising fuel prices not come in between your dreams to travel the roads less known. Introducing The IndianOil Kotak Credit Card, made for those who want to get the most of their travel every day. Enjoy a rewarding experience on Fuel, Dining, Groceries and much more. Save up to 5%* on IndianOil fuel spends!

Save 5%* on IndianOil fuel spends

2%** back as Reward Points on Grocery and Dining spends

0.5% back as Reward Points on all other spends

1000 Reward Points*** as welcome benefit on spending INR 500^# within 30 days of card issuance

Kotak Mahindra Bank has joined hands with IndianOil Corporation Limited to launch a fuel based card. IndianOil Kotak Credit Card offers customers savings upto 5% on IndianOil fuel transactions. Customer will also save 2% when using the card for Dining & Grocery spends.

Best Rewards with IndianOil Kotak Credit Card

Save 4% as Reward Points on IndianOil Fuel Spends. Earn 24 Reward Points on every INR 150 spent, capped at 1200 Reward Points per statement cycle^###
Save 2% back as Reward Points on Grocery and Dining spends. Earn 12 Reward Points on every INR 150 spent, capped at 800 Reward Points per statement cycle
On all other spends, save 0.5% back as Reward Points. Earn 3 Reward Points on every INR 150 spent
Get 1000 Reward points as welcome benefit on spending INR 500 within 30 days of card issuance
All UPI on Credit Card transactions will accrue 0.5% Reward Points on every INR 150 spent, across spend categories.

Annual Fee Waiver

Annual fee of INR 449 waived on spending INR 50,000 in the previous anniversary year

Fuel Surcharge Waiver

1% fuel surcharge waiver on transactions between INR 100 to INR 5000 with maximum surcharge waiver of INR 100 per statement cycle only at IndianOil outlets^###

Add-on Card

Get a free Add-on card which will have all the benefits that you enjoy on your primary credit card
Set the spend limit on your Add-on Card as you desire
Track spends separately for each of your Add-on Card(s)

Rupay Benefits

Concierge services

You can avail personal concierge and assistance by calling 1800-26-78729 for the same. Applicable on Rupay Variant Only.

*5% savings is calculated as 4% back in the form of Reward points and 1% back as Fuel Surcharge waiver

**2% back on Dining & Groceries is valid only on select merchant categories - 5812, 5814, 5813, 5411, 5311, 5399, 5422, 5451, 5499 & 5441
***Applicable only on Credit Card with Joining Fees
#Valid on a single transaction of INR 500 or above to be eligible for joining benefit
##List of IOCL petrol pumps: https://associates.indianoil.co.in/PumpLocator/
### this feature is not applicable on UPI transactions

Redeem your Reward points through any of the following options -

Kotak Rewards

Introducing Kotak Rewards* - your new point redemption currency that simplifies managing Reward Points on your Kotak Credit Cards. Redeem your accrued reward points at 25p/point against our exclusive catalogue of benefits.
Choose from various categories like merchandise, e-vouchers of latest brands, movie vouchers, travel, mobile recharge and much more. Redeem Now T&C Apply.
*The portal is governed by a separate set of Terms & Conditions

Redeem as Cashback

Call Kotak Customer Care at 18602662666
Validate yourself & place a request to redeem your points. Redeem your accrued reward points at 20p/point as cashback. Minimum 2000 points will be required to avail this redemption facility.
Your request will be processed within 2 working days & you will receive a confirmation on your registered contact details.

For more information, refer FAQs

Value Chart

Value Builders	Monthly Spends	Value back Annually (INR)
Welcome Benefit (On paying JF & spending 500)		250
4% back as Reward points on IndianOil Fuel Spends	10,000	3,600
1% Fuel Surcharge Waiver on IndianOil Spends	10,000	1,200
2% back as reward points on Dining & Grocery Transactions	10,000	2,400
0.5% back in Reward points on other spends (no capping)	10,000	600
Annual Fee waiver (on spending 50,000 in an anniversary year)		449
Total Monthly spends	30,000	8499
Total annual spends of INR 3,60,000

Enjoy benefits worth ₹8000 per annum on monthly spends of ₹30,000, based on indicative values and assuming 1 Reward Point = ₹0.25

Fees and Charges

Fee & other Parameters	IndianOil Kotak Credit Card
Joining Fee	₹449/-
Annual Fees	₹449/-
Condition for waiver of Annual Fees - Condition for waiver of Annual Fees	₹50,000 spends in the previous year
Interest Charges on outstanding Balances	3.75% (Annualized @ 45%) w.e.f. 01st June 2025
Add On Card Fees	NIL
Minimum Amount Due (MAD) (It will reflect in statement in column of minimum amount due)	MAD is calculated as 1% of TAD w.e.f. 01st June 2025
ATM Cash Withdrawal/ Call a draft/ Fund Transfer/ Cash Advance per INR 10,000 or part thereof	2.5% on advance amount, subject to minimum of ₹500 w.e.f. 01st June 2025
Late Payment Charges ("LPC")	Due as per last statement	LPC Charges
	<=₹100	₹0
	>₹100 - ₹500	₹100
	>₹500 - ₹5,000	₹500
	>₹5,000 - ₹10,000	₹600
	>₹10,000 - ₹25,000	₹800
	>₹25,000 - ₹50,000	₹1,000
	Above ₹50,000	₹1,200
Over Limit Charge	₹500
Cheque Bounce Charges	2.0% on bounce amount, subject to minimum of ₹500
Foreign Currency Mark Up	3.5%
Fee for Cash payment at Bank	₹100
Reissue/ Replacement Card (per issuance)	₹100
Railway Booking Surcharge (1.8%/2.5% on transaction amount)	As Applicable
Fee on Wallet Loading	W.e.f. 1st June, 2025, 1% fee on cumulative wallet loading spends exceeding ₹10,000 per statement cycle
Credit Limit Increase Processing Fees	₹100 as applicable
Fee on Online Skill-Based Gaming	W.e.f. 1st June, 2025, 1% fee on cumulative online skill-based gaming spends exceeding ₹10,000 per statement cycle
Fee on Education Payment	W.e.f. 1st June, 2025, 1% transaction fee will be applicable on all education payments made via third-party apps
Fee on Utility Spends	W.e.f. 1st June, 2025, 1% fee on cumulative utility spends exceeding ₹35,000 per statement cycle
Fee on Rent Payments	W.e.f. 1st June, 2025, 1% fee on transaction amount
Fee on Rent Payments	W.e.f. 1st June, 2025, 1% fee on transaction amount
Please Note:
GST/Applicable taxes, would be charged as per the rates approved in the Finance Act each year on all interest & fees and other charges levied on your Credit Card.

Disclaimer: Verbiage for Joining Fee (if applicable) will be displayed as Annual Fee on your monthly credit card statement. Thereafter you will be levied Annual Fee (if applicable) as per the most important terms and conditions of your credit card.

Waiver of fees for Credit Cards linked to Programme is subject to maintaining eligibility of respective Programme.

Programme refers to Kotak Bank and Group product propositions like Privy League Black / Privy League Platinum / Privy League Neon programme / Private Banking / Corporate Salary programme. For details on the programme eligibility and cards offered, please visit www.kotak.com

In case, programme eligibility is not met or if customer is degraded from higher variant programme to lower variant, customer will not be given programme linked fee waiver and will be required to pay Joining/Annual fees

Frequently Asked Questions

What is a fuel credit card?

A fuel credit card is a credit card that is specifically designed to benefit customers when used at Fuel Pumps. These credit cards typically offer rewards and incentives for fuel purchases, such as Reward Points, Cashback, etc.

With a fuel credit card, you can use it to purchase petrol, diesel, etc. or other fuels at participating fuel stations. You can also use it for other spends like dining, groceries etc. depending on the features of the card.

How to get Indian oil credit card?

Customers can Click Here to apply for IndianOil Kotak Credit Card.

Is it a good option to apply for fuel credit card?

This depends on usage and preference. If you frequently fuel your vehicle, you should consider a fuel card that helps you earn rewards every time your refuel your vehicle. This card helps save money on a category where spends pertain to a significant amount.

Is it better to use a fuel credit card or a normal credit card?

Depends on your spending patterns on fuel specifically. A fuel credit card can be a choice if you frequently purchase fuel and helps you earn significant rewards or discounts. Fuel credit cards offer higher rewards or discounts for fuel purchases than regular credit cards.

How can I avail Joining Benefit against my IndianOil Kotak Credit Card?

Joining benefit is applicable only on realization of Joining Fee. IndianOil Kotak Credit cardholders need to perform one transaction of INR 500 or above within 30 days of card issuance to be eligible for welcome benefit of 1000 Reward points. The benefit will be credited within 3 months of completing the transaction.

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