MyFinCards
IndianOil Kotak Credit card

Joining Fee

₹449

Annual Fee

Rs. 449 (Reversed on annual spends of Rs. 0.5 Lakhs)

Kotak Bank
Fuel
Rewards
Best For: Frequent IndianOil fuel purchasers, Those with moderate dining and grocery spends, Budget-conscious users seeking a low-fee fuel card

IndianOil Kotak Credit card

Rewards Structure

Base Reward Rate

0.5% on spends

Point Value

1 Point = ₹0.25

Pros

  • Up to 5% savings on IndianOil fuel spends (4% rewards + 1% surcharge waiver)
  • 2% back on dining and grocery spends
  • Low joining and annual fee of INR 449
  • Annual fee waived on INR 50,000 annual spend
  • Welcome benefit of 1000 Reward Points
  • Free add-on card
  • RuPay concierge service

Cons

  • Fuel rewards capped at 1200 points per statement cycle
  • Dining/grocery rewards capped at 800 points per statement cycle
  • Reward points on UPI transactions capped at base rate of 0.5%
  • Fuel surcharge waiver limited to IndianOil outlets only
  • Minimum 2000 points required for cashback redemption
  • Welcome benefit only on paying joining fee

Hidden Catches (Transparency Policy)

To build trust with our users, we highlight the fine print that issuers often tuck away in policy documents.

5% savings is a combination of 4% reward points and 1% surcharge waiver, not straight cashback

2% back on dining/groceries valid only on select merchant category codes

Fuel surcharge waiver and reward caps not applicable on UPI transactions

Welcome benefit requires a single transaction of INR 500 or more

Reward points redeemed as cashback valued at 20p/point vs 25p/point on Kotak Rewards portal

Key Benefits & Features

Free Add-on card with all primary card benefits; set spend limit and track spends separately

0.5% Reward Points on all other spends (3 pts per INR 150), including UPI on Credit Card transactions

Eligibility Criteria

Occupation

SALARIEDSELF_EMPLOYEDRETIREDSTUDENT

Required Documents

IDENTITY Proof

PAN Card
Aadhaar Card

Notable Exclusions

Fuel surcharge waiver and capped reward points not applicable on UPI transactions2% back on Dining & Groceries valid only on select merchant categories

*Exclusions may apply to EMI transactions, fuel, and wallet reloads based on current bank policy.

Official Terms & Conditions

About IndianOil Kotak Credit card

The IndianOil Kotak Credit Card is a co-branded fuel card launched in partnership between Kotak Mahindra Bank and IndianOil Corporation Limited, designed for everyday travelers who want to maximize savings on fuel and daily expenses. Running on the RuPay network with a joining and annual fee of just ₹449, this card delivers up to 5% savings on IndianOil fuel transactions, combining 4% back as Reward Points and a 1% fuel surcharge waiver on transactions between ₹100 and ₹5,000 at IndianOil outlets. Beyond fuel, cardholders earn 2% back as Reward Points on grocery and dining spends across select merchant categories, and 0.5% back on all other purchases. New cardholders who pay the joining fee and spend ₹500 within 30 days of card issuance receive 1,000 bonus Reward Points as a welcome benefit. The annual fee is waived entirely upon spending ₹50,000 in the previous anniversary year, making it an attractive long-term option for budget-conscious users. Reward Points can be redeemed through the Kotak Rewards portal at 25 paise per point for merchandise, e-vouchers, travel, and more, or as cashback at 20 paise per point. Additional perks include a free add-on card and access to RuPay concierge services, offering strong overall value for frequent IndianOil fuel purchasers.

Expert Review

Our Verdict

Save up to 5% on IndianOil fuel spends with bonus rewards on dining & groceries.

Frequently Asked QuestionsAbout IndianOil Kotak Credit card

OTHERWhat is a fuel credit card?
A fuel credit card is a credit card 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, 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.
APPLICATIONHow can I apply for the IndianOil Kotak Credit Card?
You can apply for the IndianOil Kotak Credit Card online by visiting the official Kotak Mahindra Bank website and clicking the 'Apply Now' button on the IndianOil Kotak Credit Card page. The application process is straightforward and can be completed digitally. Once submitted, you can also track your application status through the bank's website or mobile app.
OTHERIs it a good option to apply for a fuel credit card?
This depends on your usage and preference. If you frequently fuel your vehicle, you should consider a fuel card that helps you earn rewards every time you refuel. The IndianOil Kotak Credit Card helps save money on fuel, which for many people is a significant monthly expense. With up to 5% savings on IndianOil fuel spends, 2% back on dining and grocery spends, and a low annual fee of just ₹449 (waivable), it can be a very cost-effective card for regular fuel users.
OTHERIs it better to use a fuel credit card or a normal credit card?
It depends on your spending patterns, particularly on fuel. A fuel credit card like the IndianOil Kotak Credit Card is a great choice if you frequently purchase fuel, as it offers higher rewards for fuel purchases than regular credit cards. With 4% back as Reward Points on IndianOil fuel spends plus 1% fuel surcharge waiver, you earn significantly more compared to a standard credit card on fuel transactions.
BENEFITSHow can I avail the joining benefit on my IndianOil Kotak Credit Card?
The joining benefit is applicable only upon realization of the joining fee. IndianOil Kotak Credit Card holders need to perform one transaction of ₹500 or above within 30 days of card issuance to be eligible for the welcome benefit of 1,000 Reward Points. The benefit will be credited within 3 months of completing the qualifying transaction. Note that this welcome benefit is only applicable on cards with a joining fee.
FEESWhat are the joining and annual fees for the IndianOil Kotak Credit Card?
The IndianOil Kotak Credit Card has a joining fee of ₹449 and an annual fee of ₹449. There is no waiver available on the joining fee. However, the annual fee is waived if you spend ₹50,000 or more in the previous anniversary year. This makes the card effectively free for moderate to high spenders who meet the annual spend threshold.
REWARDSHow many Reward Points do I earn on IndianOil fuel spends?
You earn 24 Reward Points on every ₹150 spent at IndianOil fuel outlets, which translates to 4% back as Reward Points. Additionally, you get a 1% fuel surcharge waiver on transactions between ₹100 and ₹5,000, making the total savings up to 5%. Please note that fuel rewards are capped at 1,200 Reward Points per statement cycle, and the fuel surcharge waiver is limited to IndianOil outlets only. These benefits are not applicable on UPI transactions.
REWARDSWhat rewards do I earn on dining and grocery spends?
You earn 12 Reward Points on every ₹150 spent on dining and grocery transactions, which equals 2% back as Reward Points. This benefit is valid only on select merchant category codes: 5812, 5814, 5813, 5411, 5311, 5399, 5422, 5451, 5499, and 5441. The dining and grocery rewards are capped at 800 Reward Points per statement cycle. On all other spends, you earn 3 Reward Points per ₹150, which is 0.5% back.
USAGEHow can I redeem my Reward Points on the IndianOil Kotak Credit Card?
You can redeem your Reward Points in two ways. First, through the Kotak Rewards portal, where points can be redeemed at 25 paise per point against merchandise, e-vouchers, movie vouchers, travel, mobile recharge, and more. Second, as cashback by calling Kotak Customer Care at 18602662666, where points are redeemed at 20 paise per point. A minimum of 2,000 Reward Points is required for cashback redemption, and the request is processed within 2 working days.
USAGEDoes the IndianOil Kotak Credit Card support UPI transactions and do they earn rewards?
Yes, the IndianOil Kotak Credit Card supports UPI on Credit Card transactions. However, all UPI transactions accrue Reward Points at a base rate of 0.5% (3 Reward Points per ₹150 spent), regardless of the spending category. The higher reward rates for IndianOil fuel spends and dining/grocery spends, as well as the fuel surcharge waiver, are not applicable on UPI transactions.
BENEFITSCan I get an add-on card with the IndianOil Kotak Credit Card?
Yes, the IndianOil Kotak Credit Card offers a free add-on card for family members. The add-on card comes with all the same benefits as the primary credit card. You can set a customized spend limit on each add-on card and track spends separately for each add-on card, giving you better control over family expenditure.
BENEFITSWhat is the fuel surcharge waiver on the IndianOil Kotak Credit Card?
The IndianOil Kotak Credit Card offers a 1% fuel surcharge waiver on fuel transactions between ₹100 and ₹5,000 at IndianOil outlets. The maximum surcharge waiver is capped at ₹100 per statement cycle. This waiver is exclusively available at IndianOil petrol pumps and is not applicable on UPI transactions. Combined with the 4% Reward Points on fuel, this gives a total saving of up to 5% on IndianOil fuel spends.
BENEFITSWhat RuPay-specific benefits does the IndianOil Kotak Credit Card offer?
Since the IndianOil Kotak Credit Card is on the RuPay network, cardholders can avail RuPay Concierge Services by calling 1800-26-78729 for personal concierge and assistance. Additionally, cardholders can access all exclusive offers run by RuPay applicable on Kotak RuPay Credit Cards. These benefits are applicable on the RuPay variant only.
INTERNATIONALCan I use the IndianOil Kotak Credit Card for international transactions?
The IndianOil Kotak Credit Card is issued on the RuPay network, which has limited international acceptance compared to Visa or Mastercard networks. This card is primarily designed for domestic use, with its key benefits focused on IndianOil fuel outlets, dining, and grocery spends within India. For international travel and foreign currency transactions, you may want to consider a card with broader international acceptance and no forex markup.
REWARDSWhat is the value of Reward Points earned on the IndianOil Kotak Credit Card?
Each Reward Point is worth 25 paise (₹0.25) when redeemed through the Kotak Rewards portal for merchandise, e-vouchers, movie vouchers, travel, or mobile recharge. If you choose to redeem as cashback, each point is worth 20 paise (₹0.20). Based on indicative calculations, spending ₹30,000 per month (₹3,60,000 annually) can yield benefits worth approximately ₹8,000 per year, assuming 1 Reward Point = ₹0.25.

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