Kotak Bank IndianOil Credit Card

kotak indianoil credit card

The Kotak Indian Oil Credit Card is like a discount card for gas and groceries. Swipe it at IndianOil stations to save up to 5% on fuel! You also get 2% back on groceries and dining. It’s a good way to save on everyday purchases. it is a RuPay Card.

Kotak IndianOil Credit Card Benefits

Welcome Benefit

  • Spend ₹500 within 30 days of getting your card and get 1,000 bonus points!

Annual Fee Waiver

  • You don’t pay the annual fee of ₹449 if you spend ₹50,000 on the card in a year. That means the card is free if you use it enough.

Personal Accident Insurance

  • If something happens to you, this card gives you ₹2,00,000 in personal accident insurance for peace of mind.

Concierge Services

This card comes with a free personal assistant service! They can help you with:

  1. Sending gifts or flowers
  2. Finding and booking restaurants
  3. Renting a car or limousine
  4. Booking tee times for golf
  5. Getting movie tickets
  6. And more!

Just call 1800-26-78729 to get help from your assistant.

Contactless Payment

  • This card lets you pay quickly and safely with just a tap, for purchases under ₹5,000.
  • No need to enter a PIN!
  • This helps keep your Credit card information secure.

Fuel Surcharge Waiver

  • When you fill-up at IndianOil stations and pay between ₹100 and ₹5,000 with your card
  • you might get a small fee waived.
  • This fee can be up to ₹100 per month, saving you a little extra money on gas.

Add on Cards

  • You can get a free extra card for your family or friends that has all the same benefits as your main card.
  • This way, they can also save on gas and groceries!
  • You can even set a spending limit on their card to control
  • how much they spend and track their purchases separately.

Reward Points

  1. Gas at IndianOil: Get the most points! Earn 4 points for every ₹150 spent on gas, up to a total of 1200 points per month.
  2. Groceries & Dining: Earn 2 points for every ₹150 spent at grocery stores and restaurants, up to a total of 800 points per month.
  3. Everything else: Earn 0.5 points for every ₹150 spent on other purchases.
  4. UPI payments: Using your card for UPI transactions also earns you 0.5 points per ₹150 spent, no matter the category.

How to Redeem Kotak Indian Oil Credit Card Reward Points

  1. Cashback (limited-time offer): Call customer care and convert your points to cash directly credited to your card statement.
  2. You need at least 300 points and can only redeem in multiples of 300.
  3. Kotak Rewards: You can redeem points for various rewards like merchandise, gift cards, travel bookings, mobile recharge and more
  4. The rate of 25 paise per point.
  5. IndianOil XTRA REWARDS Points: This option lets you convert your points to IndianOil’s XTRA REWARDS points which can be used to pay for gas at IndianOil stations.
  6. The conversion rate is 300 Kotak points = 250 XTRA REWARDS points 1MOST IMPORTANT TERMS & CONDITIONS PDF Website: Kotak Bank
  7. worth ₹75.

How to use XTRA REWARDS points at Indian Oil stations

  1. Ask the cashier to use “Instant Redeem.”
  2. Select “XTRAREWARDS” program.
  3. Enter your mobile number linked to EXTRA REWARDS.
  4. Enter the redemption amount.
  5. You’ll receive a one-time code for verification.
  6. Points will be deducted after successful verification.

Kotak IndianOil Credit Card Charges

Getting the Card:

  • Joining Fee: ₹449 (one-time fee when you first get the card)
  • Annual Charge: ₹449

Interest Rate:

  • You’ll pay interest on any balance you carry over each month. The rate is 3.5% per month (around 42% annually). It’s best to pay your balance in full each month to avoid these charges.

Using the Card:

  • No Fees: Getting an additional card for someone else (add-on card) is free.
  • Minimum Payment: You’ll need to pay at least 5% or 10% of your total bill each month (depending on what the bank decides).

Cash and Other Services:

  • Cash advance fees: Withdrawing cash from an ATM or using a cash advance will cost ₹300 per ₹10,000 or part thereof.

Missing Payments:

  • Late payment charges: These vary depending on how much you owe and how late your payment is. It’s important to pay your bill on time to avoid extra fees.
  • Overspending fee: If you spend more than your credit limit, you’ll be charged ₹500.

Other Fees:

  • Bounced checks: If your check doesn’t go through, you’ll be charged ₹500.
  • Foreign currency transactions: There’s a 3.5% fee for using your card in a different currency.
  • Paying cash at the bank: If you need to make a payment in person at the bank, there’s a ₹100 fee.
  • Replacing a lost or stolen card: Getting a new card costs ₹100.
  • Booking train tickets: There might be a surcharge of 1.8% or 2.5% depending on the ticket amount.

Eligibility Criteria

  • Age: You must be between 18 and 65 years old to apply for the main card. Anyone 18 or older can be added as a second cardholder.
  • Location: You need to be a resident of India.
  • Credit Score: This card typically requires a good credit score, generally above 750.

Documents Required

  • Proof of identity: This could be your Aadhar card, PAN card, Voter ID, or Driver’s License
  • Proof of income: Typically this would be your salary slips, Income Tax Return (ITR), or recent bank statements.
  • Proof of address: Similar to proof of identity, this could be your Aadhar card, Voter ID, or utility bill.
  • Note: usually just one document is needed for each

How to Apply for the Kotak IndianOil Credit Card

  1. Head to Kotak Mahindra Bank’s website. You can find it with a quick search online.
  2. Look for the “Kotak IndianOil Credit Card” application. They might have it under “Credit Cards” or “Apply Now.”
  3. Fill out the online form. Enter your basic information and financial details carefully. Don’t worry, it’s usually pretty straightforward.
  4. Complete online KYC if available. This might involve uploading pictures of your ID, income proof, and address proof.
  5. Submit your application and relax! The bank will review it and let you know their decision.
  6. The bank will send an SMS To you with the application decision.
  7. If approved, your card will be mailed to you.

FAQs

  • Is Kotak IndianOil Credit Card Lifetime Free?

    No, however, you have the opportunity to get the annual fee of ₹449 waived if you spend ₹50,000 or more on the card in a year. 

  • What is My Kotak Indianoil Credit Card Bill Generation Date?

    The bill generation date for the Kotak IndianOil Credit Card typically occurs on the same date each month, which is based on the date when you first activated the card. You can also check your monthly statement or contact Kotak Mahindra Bank’s customer service to confirm the exact bill generation date for your specific credit card account. Contact Website: Kotak Bank

Article References

Nanne Parmar
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