Synopsis: The article will compare the best Indian Oil credit cards available in the Indian market based on actual savings over various spending amounts on fuel rewards, surcharge waiver, fees and net value, to find out which card helps to save more for people who use the card regularly.
IndianOil, one of India’s largest fuel networks, has its stations in cities, on highways and even in the villages and is used on a daily basis by millions of commuters and vehicle owners. Whether for personal use, work or office travel, most users have fuel costs as a routine expense in their monthly budgets. These regular expenses can be made even more effective with the help of IndianOil credit cards which provide petrol benefits such as petrol points, cashback and waiver of petrol surcharges, which helps in lowering down the total expenses on petrol.
1. RBL Bank IndianOil XTRA Credit Card
- Joining Fee: ₹1,500 + GST
- Annual Fee: ₹1,500 + GST
- Annual Fee Waiver: Spend ₹2.75 lakh in an anniversary year.
- Fuel Rewards:
- Earn 15 Fuel Points for every ₹100 spent at IndianOil fuel stations.
- 1 Fuel Point = ₹0.50 when redeemed for fuel.
- Offers an effective 7.5% value back on fuel purchases.
- Maximum 2,000 Fuel Points can be earned each month.
- Other Rewards:
- Earn 2 Fuel Points per ₹100 on other retail purchases.
- Approx reward rate: 1% value back.
- Welcome Benefit:
- 3,000 Fuel Points bonus (worth ₹1,500). Available after making your first transaction of ₹500 or more within 30 days of card issuance.
- Quarterly Milestone Bonus:
- Spend ₹75,000 in a calendar quarter and receive 1,000 bonus Fuel Points worth ₹500.
- Fuel Surcharge Waiver:
- Enjoy a 1% fuel surcharge waiver on fuel transactions between ₹500 and ₹4,000, with a maximum waiver of ₹200 per month.
To apply for the card, please visit the Official Website
2. Axis IndianOil RuPay Credit Card
- Joining Fee: ₹500 + GST
- Annual Fee: ₹500+ GST
- Annual Fee Waiver: Spend ₹3.5 lakh in a membership year.
- Fuel Rewards:
- Earn 20 EDGE Reward Points for every ₹100 spent at IndianOil fuel stations, offering an effective reward rate of up to 4% when redeemed for eligible rewards.
- Rewards apply to fuel transactions between ₹400 and ₹4,000.
- Eligible fuel spending is capped at ₹5,000 per month.
- Non-Fuel Rewards:
- 1% value back on online purchases Earn 5 EDGE Reward Points per ₹100 on online shopping.
- Earn 1 EDGE Reward Point per ₹100 on all other eligible retail purchases.
- Welcome Benefit:
- Receive 100% value back on your first fuel transaction. Maximum benefit of 1,250 EDGE Reward Points (worth ₹250).
- Offer is valid within 30 days of card issuance.
- Fuel Surcharge Waiver:
- Get a 1% fuel surcharge waiver on fuel transactions between ₹400 and ₹4,000, up to ₹50 per statement cycle; however, GST on the fuel surcharge is not refundable.
- Redemption: EDGE Reward Points can be redeemed through the Axis EDGE Rewards platform for fuel vouchers, shopping vouchers, travel bookings, gift vouchers, and other eligible rewards.
- Lifestyle Benefits:
- 10% instant discount on movie tickets via BookMyShow.
- Access to the Dining Delights program with discounts at partner restaurants.
- Exclusive Wednesday offers on travel, shopping, and food delivery.
To apply for the card, please visit the Official Website
3. HDFC Bank IndianOil Credit Card
- Joining Fee: ₹500 + GST
- Annual Fee: ₹500+ GST
- Fee Waiver: Spend ₹50,000 in a membership year.
- Fuel Rewards:
- Accelerated Fuel Points on IndianOil fuel purchases are capped at 250 Fuel Points per month during the first six months and 150 Fuel Points per month thereafter.
- Fuel Point Value:
- 1 Fuel Point = 3 IndianOil XTRAREWARDS Points (XRP).
- When redeemed for fuel, the effective value is approximately ₹0.96 per Fuel Point.
- Non-Fuel Rewards:
- Earn 5% Fuel Points on grocery purchases.
- Earn 5% Fuel Points on utility bill payments (online and offline).
- Maximum 100 Fuel Points per month for each category.
- Earn 1 Fuel Point for every ₹150 spent on all other eligible retail purchases, including UPI transactions.
- Welcome Benefit:
- Receive a ₹250 voucher after card activation. Valid after completing at least one transaction within 37 days of card issuance.
- Fuel Surcharge Waiver
- Enjoy a 1% fuel surcharge waiver on fuel transactions above ₹400, with a maximum waiver of ₹250 per statement cycle.
- Redemption:
- Free fuel at IndianOil outlets through the IndianOil XTRAREWARDS program.
- Statement cashback (1 Fuel Point = ₹0.20).
- Catalogue products through HDFC NetBanking (up to ₹0.20 per Fuel Point).
- Fuel Points are valid for 2 years from the date of accrual
To apply for the card, please visit the Official Website
Also read: RBL Shoprite Credit Card Offers 5% Value Back on Groceries – Is It the Best Card for Grocery Shopping?
₹10,000 Monthly Fuel Spend Comparison
- This comparison is based on a ₹10,000 monthly IndianOil fuel spend (₹1,20,000 annually) for illustrative purposes.
- Axis rewards are limited to the first ₹5,000 monthly fuel spend.
- HDFC rewards are capped and vary across two phases (first 6 months and next 6 months).
- Fuel surcharge waiver is assumed at 1% and is subject to individual bank limits.
Best IndianOil Card by Spend
- RBL IndianOil XTRA Credit Card is best for monthly fuel spend of ₹5,000–₹15,000, offering the highest 7.5% fuel rewards and maximum overall value.
- Axis IndianOil RuPay Credit Card is best for fuel spend below ₹5,000/month, with a low fee and capped rewards suitable for light users.
- HDFC IndianOil Credit Card is best for low-fee users, with fee waiver at ₹50,000 annual spend and moderate capped fuel benefits
