Joining Fee
₹1,000
Annual Fee
Rs. 1000 (Reversed on annual spends of Rs. 0.3 Lakhs)
Forex Markup
3.5% + GST
Add-on Card Fee
Free per supplementary card
Late Payment Charges
| Total amount due | Late fee |
|---|---|
| Outstanding less than ₹500 | Nil |
| Outstanding ₹501 to ₹5,000 | ₹500 |
| Outstanding ₹5,001 to ₹10,000 | ₹750 |
| Outstanding greater than ₹10,001 | ₹1,200 |
IndianOil Axis Bank Premium Credit Card
Rewards Structure
Base Reward Rate
1% on spends
Point Value
1 Point = ₹0.25
Pros
- 6X EDGE MILES on IOCL fuel spends
- 1% unlimited fuel surcharge waiver at IOCL outlets
- 2 complimentary domestic lounge accesses per quarter
- Annual fee waiver on ₹30,000 spend
- 500 EDGE MILES welcome benefit
- 30% off on Zomato up to twice a month
Cons
- Accelerated fuel rewards capped at ₹15,000/month
- Accelerated grocery rewards capped at ₹5,000/month
- Foreign currency markup of 3.5%
- High finance charges at 3.75% per month
Hidden Catches (Transparency Policy)
To build trust with our users, we highlight the fine print that issuers often tuck away in policy documents.
Accelerated 6X fuel rewards revert to 1X above ₹15,000/month spend at IOCL
Accelerated 2X grocery rewards revert to 1X above ₹5,000/month
GST on fuel surcharge is non-refundable
1% transaction fee on cumulative fuel spends exceeding ₹50,000 in a statement period
1% transaction fee on wallet loads above ₹10,000, utilities above ₹25,000, and online gaming above ₹10,000 per statement period
Dynamic Currency Conversion markup of 1.5% + GST on international transactions in Indian currency
Key Benefits & Features
Wednesday Delight: Up to 15% off on flights & hotels via MakeMyTrip, 10% off on Swiggy, 10% off up to ₹1000 on Tira
Eligibility Criteria
Age Requirement
18+ Years
Occupation
Required Documents
IDENTITY Proof
INCOME Proof
ADDRESS Proof
These details are based on information updated on . Fees and benefits change often - confirm on the issuer's own page before applying.
About IndianOil Axis Bank Premium Credit Card
The IndianOil Axis Bank Premium Credit Card is a RuPay-powered card designed for frequent IndianOil fuel station visitors, grocery shoppers, and food delivery enthusiasts. With a joining and annual fee of ₹1,000, the card delivers strong value through accelerated rewards and practical everyday benefits. New cardholders receive 500 EDGE MILES as a welcome bonus upon completing their first transaction within 30 days of issuance. At the heart of this card is its fuel reward structure. Cardholders earn 6 EDGE MILES on every ₹150 spent at IOCL fuel outlets (up to ₹15,000 per month), plus a 1% unlimited fuel surcharge waiver at all IndianOil stations. Grocery and supermarket spends earn 2 EDGE MILES per ₹150, while all other eligible purchases earn a base rate of 1 EDGE MILE per ₹150 with no earning cap. Beyond fuel and groceries, the card offers 2 complimentary domestic airport lounge visits per quarter, 30% off on Zomato food orders (up to twice a month), and access to the Axis Bank Dining Delights program. Wednesday Delights provide additional savings on flights, hotels, and food platforms. The annual fee is waived on spends of ₹30,000 or more, and total annual benefits can exceed ₹27,000, making this card a compelling choice for IndianOil loyalists seeking well-rounded everyday rewards.
Our Verdict
4% value back on fuel at IOCL outlets with 6X rewards, lounge access & Zomato discounts for ₹1000/year.
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