Overview
The Indian Oil Kotak Credit Card is a co-branded fuel and rewards credit card designed for frequent fuel buyers and everyday spenders. With 4% rewards on fuel at Indian Oil outlets and 2% on groceries/dining, this card helps you save on daily expenses. It also offers a 1% fuel surcharge waiver, personal accident insurance, and no annual fee (subject to spending criteria).
Category: Fuel, Rewards
Credit Score Required: 750+
APR (Annual Percentage Rate): 42%
Key Features & Benefits -Indian Oil Kotak Credit Card
1. Reward Points System
- Fuel Spends at IndianOil Outlets:
- 4% rewards (24 points per ₹150 spent, max 1,200 points/cycle).
- Groceries & Dining:
- 2% rewards (12 points per ₹150 spent, max 800 points/cycle).
- Other Spends:
- 0.5% rewards (3 points per ₹150 spent).
2. Welcome Offer
- Earn 1,000 Reward Points on spending ₹500+ within 30 days of card issuance.
3. Fuel Surcharge Waiver
- 1% waiver on fuel transactions between ₹100–₹5,000 (max ₹100/cycle) at IndianOil stations.
4. Insurance & Security
- Personal Accident Cover: ₹2,00,000.
- Contactless Payments: RuPay contactless transactions up to ₹5,000.
5. Fee Waiver Benefit
- Annual fee waiver on spending ₹50,000+ in a year (waives ₹499 fee).
Fees & Charges Indian Oil Kotak Credit Card
| Fee Type | Amount |
|---|---|
| Joining Fee | ₹449 + GST |
| Annual Fee | ₹449 + GST (waivable) |
| Foreign Transaction Fee | 3.5% + GST |
| Cash Advance Fee | ₹300 per ₹10,000 |
| Late Payment Fee | ₹100–₹700 (based on due amount) |
| Overlimit Fee | ₹500 |
Eligibility Criteria
| Parameter | Requirement |
|---|---|
| Age | 18–65 years |
| Minimum Income (Salaried) | ₹30,000/month |
| ITR (Self-Employed) | ₹5,00,000/year |
| Credit Score | 750+ |
Reward Redemption Options
- Cashback: Redeem at 25 paise per point (min 300 points).
- Fuel Points: Convert to IndianOil XTRAREWARDS (300 Kotak points = 250 XTRAREWARDS = ₹75 value).
- Other Options: E-vouchers, movie tickets, travel, mobile recharges.
How to Redeem?
- Call Kotak Customer Care (1860-266-2666).
- Redeem via Net Banking/Mobile App.
How to Apply & Check Application Status
Documents Required –Indian Oil Kotak Credit Card
- Identity Proof: PAN, Aadhaar, Passport, or Driving License.
- Income Proof: Salary slips (last 3 months) or ITR (for self-employed).
- Address Proof: Aadhaar, Passport, or Utility Bill.
Check Application Status
- Visit Kotak Bank’s Application Tracker.
- Call customer care for updates.
Expert Verdict – 4.3/5
✅ Best For: Frequent fuel buyers, grocery/dining spenders.
✅ Pros:
- High fuel rewards (4%).
- No annual fee on spending ₹50,000+.
- Personal accident insurance included.
❌ Cons:
- High APR (42%).
- Foreign transaction fees (3.5%).
Final Advice: A great fuel & rewards card for IndianOil users, but ensure timely payments to avoid high interest of Indian Oil Kotak Credit Card
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