Axis Bank Indian Oil Credit Card

Overview

Updated On: August 24, 2026 | AB Published by: Amit B | 2 min read

Axis Bank Indian Credit Card is an entry level fuel focused credit card from Axis Bank which is co-branded with Indian Oil. This card is one of the most rewarding fuel credit cards for Indian Oil customers. This card gives attractive valueback on spend on fuel at Indian Oil fuel stations. In addition to that, this card comes with attractive discounts on lifestyle expenses such as dining and movies.

Pros

Good valueback on fuel transactions on Indian Oil fuel station
Eligible for instant discount offers of Axis Bank which are quite frequent
Eligible for additional offers and cashback through Axis Bank's GrabDeals portal (http://grabdeals.axisbank.com)
Easy approval and low eligibility criteria

Cons

Maximum total value of fuel transaction that earns reward points, is Rs.5,000 per month. This may not be sufficient for many users. Spend above Rs.5,000 in a month does not earn any reward points.
Joining benefit does not fully cover the Joining Fee.
Very low reward rate on regular spend
Reward redemption fee of Rs.117 including GST is additional burden on a reward rate which is already very low except Indian Oil transactions.

Fees & Charges

Joining / Annual Fee ₹ 590

Renewal Fee ₹ 590

Annual Spend Target for Fee Waiver ₹ 350,000

Minimum Annual Income Required ₹ 300,000

Rewards and Benefits

Reward Rate

Base Reward Rate: 0.20% ; Accelerated Reward Rate: 4%

Base Reward Rate

0.2%

Accelerated Reward Rate

4%

Welcome Benefits

First fuel transaction within 30 days on card issuance gets 100% valueback upto Rs.250 in the form of Edge Reward Points (Maximum upto 1250 Edge Reward Points as Welcome Benefits

Renewal Benefits

No Renewal Benefits

Rewards & Cashback Details

Fuel: 20 Edge Reward Points of every Rs.100 Spend on fuel at Indian Oil fuel station ( = 4% Valueback). Transaction must be between Rs.400 and Rs.4,000 to earn reward points. Total transactions upto Rs.5,000 spend on fuel in a calendar month, earns reward points. Any spend after first Rs.5,000 spend including all transactions on fuel in a month, does not earn any reward points.
Fuel Surcharge Waiver: 1% fuel surcharge waiver on transactions between Rs.400 and Rs.4,000. Maximum surcharge waiver upto Rs.50 per monthly statement cycle.
Other Spend: 1 Edge Reward Point on every Rs.100 spend (0.20% Valueback). Reward points redeemable on products and brand vouchers on Axis Bank's rewards catalogue (www.edgerewards.axisbank.co.in).

Rewards Redemption

Reward points can be redeemed in following ways.

To purchase merchandise and brand vouchers from Axis Rewards Catalogue. Value of 1 Reward Point = Rs.0.20
To convert the points into Airmiles or Hotel Loyalty Program Points. Click here for more details about the Axis Bank's Airmiles Transfer Program. Conversion Rates are following
- Vistara, ITC, SpiceJet, Air Asia = 10 EDGE REWARD Points = 1 Partner Point
- Other Partners: 20 EDGE REWARD Points = 1 Partner Point
Reward Redemption Fee
- Rs.117 including GST on every redemption against reward catalogue
- Rs.235 including GST on every redemption against airmiles

Additional Benefits

Movie Benefits

Dining Benefits

Domestic Airport Lounge

International Airport Lounge

Railway Lounge Access

Golf Benefits

Lifestyle Benefits Details

Restaurent Payments Discount: Discount on Restaurant Payment through Eazydiner App: 15% Discount upto Rs.500 on Minimum Order of Rs.2,500. Discount available once in a month.
Movie Tickets Discount: 10% discount upto Rs.100 per month on the tickets purchased through BookMyShow (offer valid till 31st Mar'25, may be extended).

Features & Benefits

Reward Points

Airmiles

Fuel

Gift Cards

Cashback

Airport Lounge

Utility Bills

Insurance

NPS

Education

Government Payment

Rent

Jewellery

Wallet Load

Rewards on EMI

No Cashback / Rewards Categories

No reward points on following.

Insurance
Gold / Jewellery
Wallet
Rent
Utility bills
Government payments
Education

Rent, wallet load, insurance, EMI transactions, cash withdrawal and credit card related charges are not considered for renewal fee waiver criteria.Transaction Fee applicable on following spend categories.

Rent: 1.18% Transaction Fee (including GST) on rent payment
Education: 1.18% Transaction Fee (including GST) on education related payments done on third party apps (for example CRED etc.). However, education payments done directly on institute's website will not incur any Transaction Fee
e-Wallet Load: 1.18% Transaction Fee (including GST) on cumulative spend exceeding Rs.10,000 in a monthly statement cycle on e-wallet loading
Utility Bills: 1.18% Transaction Fee (including GST) on cumulative spend exceeding Rs.25,000 in a year on e-wallet loading
Fuel: 1.18% Transaction Fee (including GST) on cumulative spend exceeding Rs.50,000 in a monthly statement cycle on fuel
Online Skill-Based Gaming Transaction Fee: 1.18% Transaction Fee (including GST) on cumulative spends of Rs 10,000 or more on online skill-based gaming platforms i.e. in a statement cycle
Surcharge on Purchase or Cancellation of Railway Tickets: As prescribed by IRCTC / Indian Railways.

Ratings & Reviews

3.2

Overall Rating

Reward Rate

4/5

Lifestyle Benefits

2/5

Ease of Reward Redemption

3/5

Value For Money

4/5

Customer Service

3/5

Detailed Review

Axis Bank's Indian Oil Credit Card is a very popular and rewarding fuel focused credit card. This card is considered as one of the best credit card for fuel spend on Indian Oil fuel stations. If you have regular spend on Indian Oil fuel station, you can consider this credit card. Except fuel spend on Indian Oil (IOCL), this card is not useful. This is a paid credit card and comes with an annual fee of Rs.590 including GST. So, the fee is recovered only if you have annual fuel spend of Rs.14,750 or more on Indian Oil (IOCL). Ideally, one should consider this credit card if average monthly spend on fuel at Indian Oil is Rs.1,500 or more.

Eligibility & Important Info

Eligibility Criteria

Age: 18 years to 70 years
Resident of India or Non-resident India
Income: Rs.25,000 net in-hand salary per month or ITR of Rs.3 Lacs (not an officially declared criteria but based on past approval of the card)

Important Links

Axis Bank GrabDeals Portal for Additional Cashback and Instant Discount Offer using Axis Bank's Credit Card: https://grabdeals.axisbank.com
Axis Bank's rewards catalogue to redeem reward points on products and brand vouchers: www.edgerewards.axisbank.co.in
Link to convert reward points into airmiles: Click here