The Axis Bank IndianOil Credit Card is specifically designed for the frequent driver, offering exceptional savings on fuel at IndianOil outlets. Beyond the pump, it rewards you on shopping, dining, and entertainment, making it a comprehensive financial tool for your wallet.
Key Benefits At A Glance
- High Savings on Fuel: Earn up to 4% valueback on fuel at IndianOil pumps.
- Welcome Gift: Get 100% cashback up to ₹250 on fuel spends within the first 30 days.
- Annual Fee Waiver: No annual fee for the next year on spending ₹50,000 or more.
- Surcharge Waiver: 1% fuel surcharge waiver on transactions between ₹200 – ₹5,000.
- Online Shopping Rewards: Earn accelerated rewards on e-commerce purchases.
- Lifestyle Perks: Enjoy discounts on dining, movie tickets, and more.
Detailed Features & Benefits
⛽ Unbeatable Fuel Advantages
- Accelerated Reward Points: Earn 20 reward points on every ₹100 spent on fuel at any IndianOil outlet (IOCL).
- 4% Valueback: This translates to an effective 4% valueback on your monthly fuel spends.
- Monthly Cap: Applicable on fuel transactions between ₹100 to ₹5,000 per month.
- Fuel Surcharge Waiver: Get a 1% surcharge waiver on all fuel transactions across any fuel pump in India, for amounts between ₹200 to ₹5,000 per month.
🛒 Rewards on Shopping & Spending
- Online Shopping: Earn 5 reward points on every ₹100 spent on e-commerce transactions, giving you a 1% valueback.
- Everyday Spending: For all other spends, earn 1 EDGE reward point on every ₹100.
- Monthly Cap: Accelerated rewards on online shopping are valid on transactions between ₹100 to ₹5,000 per month.
- Redemption: Reward points can be redeemed for a wide variety of products, vouchers, and air miles from the Axis Bank EDGE Rewards catalogue.
🎁 Welcome & Milestone Benefits
- Welcome Benefit: Receive 100% cashback up to ₹250 on all fuel expenses made within the first 30 days of card issuance.
- Annual Fee Waiver: Spend ₹50,000 or more in a year, and the subsequent year’s annual fee of ₹500 is completely waived.
🎬 Lifestyle & Entertainment
- Dining Delights: Get exclusive discounts of up to 15% at partner restaurants across India under Axis Bank’s dining program.
- Movie Tickets: Avail instant discounts on movie tickets booked through BookMyShow. (Simply select the offer from the ‘Offers’ section during payment).
Fees & Charges : Axis Bank IndianOil Credit Card
A clear understanding of the costs associated with the card is essential.
| Type of Charge | Amount |
|---|---|
| Joining Fee | ₹500 |
| Annual Fee | ₹500 (Waived if annual spends ≥ ₹50,000) |
| Add-on Card Fee | Nil |
| Cash Withdrawal Fee | 3.4% per transaction (Min. ₹500) |
| Finance Charge | 3.4% per month (42.88% p.a.) |
| Late Payment Fee | ₹0 (<₹500 due), ₹500 (₹501-₹5,000), ₹750 (₹5,001-₹10,000), ₹1,200 (>₹10,000) |
| Foreign Currency Markup | 3.5% of the transaction value |
Note: GST will be applicable on all fees and charges as per government regulations.
Credit Limit & Eligibility
Credit Limit: Your credit limit is determined by Axis Bank based on factors such as your income, credit score, credit history, and existing obligations.
Eligibility Criteria: Axis Bank IndianOil Credit Card
| Category | Details |
|---|---|
| Nationality | Indian |
| Age | Primary Applicant: 18 – 70 years Add-on Applicant: 15 years and above |
| Occupation | Salaried or Self-Employed |
| Income | As per Bank’s policy (Not explicitly stated, but a stable income is required) |
Documents Required
The following documents are typically required during the application process:
- Proof of Identity (Any One): PAN Card (Mandatory), Aadhaar Card, Passport, Driver’s License, Voter ID.
- Proof of Address (Any One): Aadhaar Card, Passport, Utility Bill (Electricity/Water/Gas), Voter ID.
- Proof of Income (For Salaried): Latest Salary Slips, Form 16.
- Proof of Income (For Self-Employed): IT Returns for the last 2-3 years, Bank Statements.
Top 20 FAQs: Axis Bank IndianOil Credit Card
1. What are the main benefits of the Axis Bank IndianOil Credit Card?
The card offers accelerated rewards (up to 4% valueback) on fuel purchases at IndianOil pumps, a 1% fuel surcharge waiver at all pumps, rewards on online shopping, and lifestyle benefits like discounts on dining and movies. It also provides an annual fee waiver on spends of ₹50,000 or more.
2. How much valueback do I get on fuel purchases?
You get an effective 4% valueback on fuel spends at IndianOil outlets. This is earned as 20 reward points for every ₹100 spent.
3. Is the fuel surcharge waiver only valid at IndianOil pumps?
No, this is a key benefit. The 1% fuel surcharge waiver is applicable on fuel transactions at any petrol pump across India, as long as the transaction amount is between ₹200 and ₹5,000.
4. What is the welcome benefit?
New cardholders get 100% cashback up to ₹250 on fuel expenses made within the first 30 days of card issuance.
5. How can I get the annual fee waived?
The annual fee for the subsequent year is waived if your total spends in a year cross ₹50,000.
6. What is the joining and annual fee?
The joining fee is ₹500 + GST. The annual fee is also ₹500 + GST, which is waived under the milestone benefit.
7. How do I earn rewards on online shopping?
You earn 5 reward points for every ₹100 spent on e-commerce transactions, which gives you a 1% valueback. This is valid on online spends between ₹100 to ₹5,000 per month.
8. How and where can I redeem my reward points?
You can redeem your EDGE Reward Points for a variety of options like gift vouchers, merchandise, air miles, or even statement credit through the Axis Bank Mobile App or NetBanking Rewards Portal.
9. What is the minimum and maximum amount to get rewards on fuel?
To earn the accelerated 20 reward points, your fuel transaction at an IndianOil pump must be between ₹100 and ₹5,000 in a month.
10. Is there an income requirement to apply for this card?
While Axis Bank does not explicitly state a number, applicants typically need a stable monthly income and a good credit score to be approved. The bank will assess your eligibility based on your income and credit profile.
11. What is the interest rate (finance charge) on this card?
The finance charge is 3.4% per month, which translates to an Annual Percentage Rate (APR) of approximately 42.88% p.a. It is always advised to pay your credit card bill in full to avoid these high interest charges.
12. What is the late payment fee?
The late payment fee is tiered:
- ₹0 if the total amount due is less than ₹500.
- ₹500 if the amount due is between ₹501 and ₹5,000.
- ₹750 if the amount due is between ₹5,001 and ₹10,000.
- ₹1,200 if the amount due is greater than ₹10,000.
13. Can I get an add-on card for my family?
Yes, you can request add-on cards for your family members. The best part is that add-on cards are free—there is no joining or annual fee for them.
14. How do I get the movie ticket discount on BookMyShow?
When booking tickets on BookMyShow, navigate to the payment page and select the Axis Bank offer from the listed promotions or ‘Offers’ section to avail the instant discount.
15. What documents do I need to apply for this card?
You will need:
- Proof of Identity: PAN Card (mandatory), Aadhaar, Passport, or Driver’s License.
- Proof of Address: Aadhaar, Passport, Utility Bill, or Voter ID.
- Proof of Income: Salary slips (for salaried) or ITR documents (for self-employed).
16. How do I check my reward points balance?
You can easily check your EDGE Reward Points balance by logging into your Axis Bank NetBanking account or through the Axis Bank Mobile App.
17. Is there a cash withdrawal fee?
Yes, cash advances come with a fee of 3.4% of the withdrawn amount (minimum ₹500), plus interest charges from the day of withdrawal until full payment.
18. Does this card offer any airport lounge access?
No, the Axis Bank IndianOil Credit Card is primarily a fuel and shopping card and does not include complimentary airport lounge access privileges.
19. Who is this card best suited for?
This card is ideal for individuals who drive frequently and refuel primarily at IndianOil outlets, as well as those who want to earn rewards on their everyday online shopping and expenses.
20. How can I apply for the card?
You can apply:
- Online: Via the Axis Bank official website or partner financial marketplaces.
- Offline: By visiting your nearest Axis Bank branch and speaking with a representative.
Axis Bank IndianOil Credit Card Axis Bank IndianOil Credit Card Axis Bank IndianOil Credit Card
