IndianOil Kotak Credit Card

Overview

The IndianOil Kotak Credit Card is a co-branded fuel card from Kotak Mahindra Bank and IndianOil Corporation Limited. It targets everyday commuters who refuel regularly at IndianOil stations across India. The card runs on the RuPay network and carries a modest annual fee of ₹449, which Kotak waives if you clock ₹50,000 in spending during the year.The headline benefit is 5% savings at IndianOil outlets. You earn 4% back as reward points (24 points per ₹150 spent) and get a 1% fuel surcharge waiver on transactions between ₹100 and ₹5,000. The fuel rewards cap at 1,200 points per statement cycle, which means maximum savings kick in up to around ₹7,500 in monthly IndianOil spends. The surcharge waiver itself caps at ₹100 per cycle.Beyond fuel, the card earns 2% reward points on grocery and dining purchases (12 points per ₹150), capped at 800 points per cycle. All other transactions earn 0.5% (3 points per ₹150) with no cap. UPI payments on the credit card also accrue 0.5% points. New cardholders who pay the joining fee and make a ₹500 purchase within 30 days receive 1,000 welcome reward points worth ₹250.Reward points can be redeemed at ₹0.25 per point through the Kotak Rewards portal for merchandise, vouchers, and travel, or at ₹0.20 per point as statement cashback. Kotak estimates the card delivers around ₹8,000 in annual value on monthly spends of ₹30,000. This card suits people with regular IndianOil fuel expenses who also spend on groceries and dining but do not need premium perks like airport lounge access or international travel benefits.

Pros

↑5% total savings (4% reward points + 1% surcharge waiver) on IndianOil fuel spends
↑Annual fee of ₹449 waived on just ₹50,000 yearly spend
↑2% back on grocery and dining purchases adds everyday value

Cons

↓Fuel rewards capped at 1,200 points per cycle (roughly ₹7,500 spend)
↓Only 0.5% returns on non-fuel, non-grocery, non-dining transactions
↓No airport lounge access, travel insurance, or premium perks

Key Highlights

Welcome Offer
₹250 cashback onboarding offer for new cardholders
Terms and conditions apply. Check Kotak website for current offer details.

Reward Rate
5% savings at IndianOil (4% reward points + 1% surcharge waiver)
24 points per ₹150 at IndianOil, capped at 1,200 points/cycle
Surcharge waiver on ₹100 to ₹5,000 transactions, max ₹100/cycle

Minimum Salary
2% reward points on grocery and dining purchases
12 points per ₹150 on select MCCs (5812, 5814, 5813, 5411, etc.)
Capped at 800 points per statement cycle

Joining Fee
Annual fee: ₹449, waived on ₹50,000 spend
Joining fee also ₹449
No waiver condition for joining fee

Annual Fee
1,000 welcome reward points on ₹500 spend within 30 days
Single transaction of ₹500 or above required
Applicable only when joining fee is paid
Credit within 3 months

Why Choose?
0.5% reward points on all other spends including UPI
3 points per ₹150 on general spends
UPI on credit card also earns 0.5%

Key Benefits

Dining

★3.0

▼

2% reward points on dining (12 points per ₹150), capped at 800 points per statement cycle

Fuel

★4.0

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5% at IndianOil (4% reward points + 1% surcharge waiver), capped at 1,200 points/cycle

Grocery

★3.0

▼

2% reward points on grocery (12 points per ₹150), capped at 800 points per statement cycle

Reward Points

★2.5

▼

0.5% on general spends (3 points per ₹150), 1 point = ₹0.25 via portal

No Annual Fee

▼

₹449, waived on ₹50,000 annual spend

Detailed Information

Joining Fee	₹449
Annual Fee	₹449
Annual Fee Waiver	Waived on ₹50,000 annual retail spend
Monthly Percentage Rate	3.49%
Annual Percentage Rate	41.88%
Minimum Monthly Payment	5% of outstanding or ₹200, whichever is higher
Foreign Currency Markup	3.5%
Late Payment Charges	₹100 to ₹1,300 based on outstanding
Overlimit Charges	2.5% of overlimit amount
Cash Advance Fee	2.5% of amount (min ₹500)
Balance Transfer Fee	Not available
Fee For Supplementary Card	Free
Card Replacement Fee	₹100 to ₹200
Fee For Duplicate Statement	₹50 per statement
Fee For Cheque Bounce	₹500

Age Requirement Salaried	21-60 years
Age Requirement Self Employed	21-65 years
Minimum Annual Income Salaried	₹1.8 lakh
Minimum Annual Income Self Employed	₹3.0 lakh
Minimum Credit Score	700+

Identity Proof	PAN Card (mandatory) Aadhaar Card Passport Voter ID
Address Proof	Aadhaar Card Passport Utility Bill (recent) Bank Statement
Income Proof Salaried	Latest 3 months salary slips Latest 3 months bank statement Form 16 or ITR
Income Proof Self Employed	Latest 2 years ITR Latest 6 months bank statement Business proof documents

Frequently Asked Questions

It is a co-branded fuel credit card from Kotak Mahindra Bank and IndianOil Corporation Limited. The card runs on the RuPay network and provides up to 5% savings on fuel purchases at IndianOil outlets.

The annual fee is ₹449. It gets waived if you spend ₹50,000 or more during the previous anniversary year.

The joining fee is ₹449. There is no condition to get it waived.

You save up to 5% on IndianOil fuel spends. This breaks down into 4% back as reward points (24 points per ₹150) and 1% fuel surcharge waiver.

Yes, fuel reward points are capped at 1,200 points per statement cycle. This covers approximately ₹7,500 worth of IndianOil fuel purchases per month.

You get a 1% fuel surcharge waiver on transactions between ₹100 and ₹5,000 at IndianOil outlets, with a maximum waiver of ₹100 per statement cycle. This does not apply to UPI transactions.

You earn 2% back as reward points (12 points per ₹150 spent) on grocery and dining transactions. This is capped at 800 reward points per statement cycle.

Select merchant category codes qualify, including 5812, 5814, 5813, 5411, 5311, 5399, 5422, 5451, 5499, and 5441.

You earn 0.5% back as reward points (3 points per ₹150 spent) on all other transactions. There is no cap on this category.

Yes, all UPI on credit card transactions earn 0.5% reward points (3 points per ₹150 spent) across all spend categories.

If you pay the joining fee and make a single transaction of ₹500 or more within 30 days of card issuance, you receive 1,000 welcome reward points. The benefit credits within 3 months.

Each reward point is worth ₹0.25 when redeemed through the Kotak Rewards portal, or ₹0.20 when redeemed as cashback.

You can redeem through the Kotak Rewards portal at ₹0.25 per point for merchandise, e-vouchers, movie vouchers, travel, and mobile recharge. Alternatively, call Kotak customer care to redeem as cashback at ₹0.20 per point.

You need at least 2,000 reward points to redeem as cashback. The request is processed within 2 working days.

Yes, you get a free add-on card that carries all the benefits of the primary card. You can set and track spending limits separately for each add-on card.

The IndianOil Kotak Credit Card runs on the RuPay network. The RuPay variant also provides access to concierge services.

No, the IndianOil Kotak Credit Card does not include airport lounge access.

Yes, the RuPay variant provides personal concierge and assistance services, available by calling 1800-26-78729.

Kotak estimates around ₹8,000 in annual value on monthly spends of ₹30,000, assuming a mix of fuel, grocery, dining, and general purchases with 1 reward point valued at ₹0.25.

No, the 1% fuel surcharge waiver applies only at IndianOil outlets. It does not cover other fuel station brands.

Yes, you can use the card for online purchases. Online transactions earn 0.5% reward points, the standard rate for non-fuel, non-grocery, non-dining spends.

You typically need identity proof (PAN Card, Aadhaar), address proof (Aadhaar, Passport, or utility bill), and income proof (salary slips for salaried applicants, ITR for self-employed).

The monthly interest rate is 3.49%, which translates to an annual percentage rate of 41.88%. This applies to any unpaid balance carried forward after the due date.

Late payment charges range from ₹100 to ₹1,300 depending on your outstanding balance. The minimum monthly payment is 5% of the outstanding amount or ₹200, whichever is higher.

This card does not have a balance transfer facility.