Indian Oil Kotak Credit Card

Indian Oil Kotak Credit Card


Joining Fee: Rs 449+GST
Annual Fee: Rs 449+GST


Co-Branded, Fuel


0.5% to 4%



Issued On



Fuel Surcharge Waiver

Table of Contents

Kotak Mahindra Bank offers the Indian Oil Kotak credit card in collaboration with Indian Oil Corporation Limited. Like the other IOCL co-branded credit cards from Axis and HDFC, this card offers exclusive benefits and rewards for IOCL fuel purchases. The Indian Oil Kotak credit card offers a 4% reward rate on Indian Oil fuel purchases. Additionally, it offers a 1% fuel surcharge waiver. Getting the card costs Rs 449 and we get the annual fee waived with a spending of Rs 50000 per year. Here’s a detailed look at the IOCL Kotak credit card and its rewards and features.

Fees and Charges

Joining FeeRs 449+GST
Welcome Benefit1000 RP on spending Rs 500 within 30 days
Annual FeeRs 449+GST
Annual Fee WaiverOn spends of Rs 50000 in a membership year
Indian Oil Kotak Credit Card Review: Fees and Charges

The annual fee waiver at Rs 50000 means we need to spend only Rs 4200/month on fuel to make the card free every year. This is quite reasonable considering the fuel prices. 🙂

LTF IndusInd Bank Credit Cards


CategoryRewardsValueMax Cap
Indian Oil Fuel24 RP per Rs 1504%1200 RP ~Rs 300
Grocery and Dining12 RP per Rs 1502%800 RP ~Rs 200
All other purchases3 RP per Rs 1500.5%No Cap
Indian Oil Kotak Credit Card Review: Rewards

The maximum caps are per statement cycle. We can use the IOCL Kotak Bank credit card for Rs 7500 worth of fuel before hitting the caps. This spend is also sufficient for getting the annual fee waiver.

Key Benefits and Charges

  • Fuel Surcharge Waiver: 1% fuel surcharge waiver on transactions between Rs 100 and Rs 5000. Maximum waiver of Rs 100 per statement cycle.
  • Personal Accident Insurance: Personal accident insurance cover of Rs 2 Lakhs

Rewards Redemption

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Accumulated reward points can be redeemed on the Kotak Rewards portal. The value for each reward point is 25 paise for all the options. Redemption options include:

  • Domestic Flights and Hotels
  • Product Catalog
  • Mobile Recharge
  • Gift Vouchers including Amazon and Flipkart

Pros and Cons

Final Thoughts

The Indian Oil Kotak credit card has a much higher cap on rewards for fuel purchases compared to the IOCL HDFC and Axis cards. We get 4% rewards and 1% fuel surcharge waiver for IOCL fuel purchases till Rs 7500. If Indian Oil fuel pumps are your preference, Indian Oil Kotak credit card is the best option.

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If you are looking for other fuel credit cards, do check out the list of the best fuel credit cards in India. For a higher spending on fuel close to Rs 10000 per month, also check out the BPCL SBI Card – Octane.

Indian Oil Kotak Credit Card


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