About IndianOil Kotak Bank Credit Card
IndianOil Kotak Credit Card is a co-branded fuel credit card that provides benefits on fuel, dining, and grocery spends, along with rewards on UPI transactions (RuPay variant). The card gives up to 4.2% value back on IndianOil fuel (3.2% via reward points + 1% fuel surcharge waiver) and 1.6% value back on grocery and dining, covering key everyday spends. Reward points can be redeemed for cashback, vouchers, or products via the rewards catalogue, and also converted into XTRAREWARDS Points (XRP) for fuel redemption at IndianOil outlets.
However, the low redemption value (1 RP = ₹0.20) and reward capping reduce the overall savings. Also, benefits are mainly tied to IndianOil, making it less rewarding beyond fuel spends.
In summary, this card is best suited for individuals who frequently refuel at IndianOil stations and want extra savings on fuel, dining, and groceries.
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IndianOil Kotak Bank Credit Card Rewards Program
Reward Earning
- 1.6% value back (12 RPs / ₹150) on grocery & dining (max 800 RPs/month).
- 0.4% value back (3 RPs / ₹150) on other spends including UPI.
Reward Redemption
- Convert to cashback: 1 RP = ₹0.20 (₹1 = 5 RPs).
- Redeem for vouchers, travel, recharges, and more at 1 RP = ₹0.20.
- Convert points to IndianOil XTRAREWARDS program.
Other Features and Benefits
Fuel Benefits
- Get 3.2% value back (24 RPs / ₹150 spent) at IndianOil fuel outlets (max 1,200 RPs per month).
- 1% fuel surcharge waiver on spends ₹100–₹5,059 (max waiver ₹100/month at IndianOil outlets).
Welcome Benefit
- 1,000 bonus reward points on spending ₹500 within 30 days of card issuance
Annual Fee Waiver
- Annual fee waived on spending ₹50,000 in a year
Insurance Coverage
- Personal accident insurance cover of ₹2 Lakh
Concierge Services
Personal concierge support for:
- Gift & flower delivery
- Restaurant referrals & bookings
- Car rental & limousine reservations
- Golf reservations
- Movie ticket bookings
Add-on Card Benefits
- Free add-on card with all benefits similar to the primary card
Contactless Feature
- RuPay contactless payments without PIN for transactions up to ₹5,000
Fees and Charges
| Fee Type | Amount |
|---|
| Joining Fee | Rs. 449 + Applicable Taxes |
| Annual Fee | Rs. 449 + Applicable Taxes |
| Finance Charges | 3.75% p.m. (45% p.a.) |
| Late Payment Charges | | For Statement Balance: | Amount: | | Up to Rs. 100 | Nil | | Between Rs. 100.01 to Rs. 500 | Rs. 100 | | Between Rs. 500.01 to Rs. 5,000 | Rs. 500 | | Between Rs. 5,000.01 to Rs. Rs. 10,000 | Rs. 600 | | Between Rs. 10,000.01 to Rs. 25,000 | Rs. 800 | | Between Rs. 25,000.01 to Rs. 50,000 | Rs. 1,000 | | Above Rs. 50,000 | Rs. 1,200 |
|
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Things to Know Before you apply
Get this card if:
- You commute daily and fuel expenses make up a large part of your budget
- You usually fuel at IndianOil fuel stations
- You want a credit card that also gives benefits on UPI spends
- You can spend ₹50,000 annually to get the annual fee waived
Eligibility Criteria
- Age: 21 to 70 years
- Occupation: Salaried or Self-employed
- Credit Score: Should have a good credit history
Document Required For IndianOil Kotak Bank Credit Card
- Proof of Identity: PAN Card, Aadhaar Card, Driver’s License, Passport, Voter ID
- Proof of Address: Aadhaar Card, Driver’s License, Passport
- Proof of Income: Latest 3 salary slips, Last 3 months’ bank statement
IndianOil Kotak Bank Credit Card Hilights
What do we like about this card?
- India’s No. 1 fuel credit card with maximum savings on IndianOil fuel
- Get up to 5% value back on fuel spends at IndianOil outlets
- Earn 2% value back on grocery and dining transactions
- Rewards available on UPI transactions with RuPay variant
- Annual fee waived on yearly spends of ₹50,000
Pros
- Up to 4.2% value back on IndianOil fuel spends
- 1.6% accelerated rewards on everyday spends like grocery & dining
- Annual fee waiver with a spend of ₹50,000 (easily achievable)
- Base reward rate on UPI spends with RuPay variant
Cons
- Monthly capping on accelerated reward points
- Low redemption value (₹0.20 per reward point)
- No surcharge waiver on fuel spends outside IndianOil outlets
- Cashback redemption is only a limited-period offer
Kotak Mahindra Bank Credit Card Contact Details
- Contact Address: Kotak Mahindra Bank Ltd. 27 BKC, C-27, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400051, India
Helpline: 1860 266 2666 (available from all major cities in India)
Simply SMS: Send KCC last 4 digits of your credit card to 5676788 to get card-related info.
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Frequently Asked Questions
Everything you need to know about this credit card
No, reward points cannot be directly redeemed. You must convert them into IndianOil XTRAREWARDS Points (XRP), where 1 XRP = ₹0.30, and then use them at fuel stations.
The cashback redemption is an introductory launch offer available for a limited time. You can convert Kotak reward points into cashback, which gets credited to your card statement. To redeem, call Kotak Customer Care at 1860 266 2666.
Yes, you get a 1% fuel surcharge waiver on transactions between ₹100 – ₹5,000 at IndianOil outlets. The maximum monthly waiver is capped at ₹100.
With Tap & Pay, you can make secure contactless payments of up to ₹5,000 per transaction.
Yes, you can get an add-on card for a family member (minimum age: 18 years). Spending limits and transactions can be tracked easily.
Yes, you can get a waiver on the annual fee if you spend ₹50,000 or above in the previous anniversary year.
Yes, you get a 1% fuel surcharge waiver up to ₹100 for transactions between ₹100 and ₹5,000 at fuel stations.
Yes, the card comes with personal accident insurance coverage of ₹2 lakhs.
