Kotak IndianOil Credit Card Review – Benefits, Charges, Apply

Kotak IndianOil Credit Card Review – Benefits, Charges, Apply
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Introduction: Picture a credit card that turns every fuel pump into a source of savings and every dining experience into an opportunity for rewards. The IndianOil Kotak Credit Card is more than just a piece of plastic; it’s a key to financial efficiency and convenience. In this article, we delve into the world of this unique collaboration between Kotak Mahindra Bank and IndianOil Corporation to discover how it’s transforming everyday expenses into a rewarding journey.

Table of Content


kotak indianoil credit card
Card NameIndianOil Kotak Credit Card
IssuerKotak Mahindra Bank in collaboration with IndianOil
Key BenefitUp to 5% savings on IndianOil fuel spends
Fuel Surcharge Waiver1% on transactions between INR 100 to INR 5000
Reward PointsEarn up to 4% Reward Points on fuel, dining, and grocery spends
Annual FeeINR 449 (waived on spending INR 50,000 in the previous year)
Personal Accident InsuranceINR 2,00,000 coverage
Concierge ServicesPersonal assistance for various needs
Add-On CardFree add-on card with shared benefits
Reward Points RedemptionIntroductory cashback offer and Kotak Rewards
Contactless PaymentRupay Contactless for quick, secure transactions
EligibilityPrimary cardholders aged 18 to 65 years, residents of India
Fees and ChargesVarious charges, including late payment, over-limit, and foreign currency mark-up
How to ApplyApply online or visit a Kotak Mahindra Bank branch

What is the IndianOil Kotak Credit Card?

The IndianOil Kotak Credit Card is a co-branded credit card offered by Kotak Mahindra Bank in collaboration with IndianOil Corporation Limited. This card is designed to provide significant savings and rewards, particularly for individuals who frequently use IndianOil fuel outlets. It offers an opportunity to make the most of your daily expenses, with a primary focus on fuel purchases.

IndianOil Kotak Credit Card Benefits and Features

The IndianOil Kotak Credit Card is packed with benefits and features that make it a valuable addition to your wallet. Here’s a closer look at what this credit card offers:

Fuel Savings:

  • Enjoy savings of up to 5% on Indian Oil fuel spending.
  • Benefit from a 1% fuel surcharge waiver on transactions between INR 100 and INR 5000 at IndianOil outlets, with a maximum surcharge waiver of INR 100 per statement cycle.

Reward Points:

Type of SpendingReward PercentageReward Points Earned per INR 150 SpentCapped Reward Points per Statement Cycle
IndianOil Fuel Spends4%24 Reward Points1200 Reward Points
Grocery and Dining Spends2%12 Reward Points800 Reward Points
All Other Spends0.5%3 Reward PointsNo Cap
  • As a welcome benefit, receive 1000 Reward Points upon spending INR 500 within 30 days of card issuance.

Annual Fee Waiver:

  • The annual fee of INR 449 is waived if you have spent INR 50,000 in the previous anniversary year, making it a cost-effective choice.

Personal Accident Insurance:

  • Cardholders receive a personal accident insurance cover of INR 2,00,000 on the IndianOil Kotak Credit Card, providing added security and peace of mind.

Concierge Services:

  • Access to personal concierge and assistance for various needs, including gift delivery, flower delivery, restaurant referral and bookings, car rental and limousine referral and reservation, golf reservations, and movie ticket booking, among others.

Add-On Card:

  • Cardholders can request a free add-on card with all the benefits available on the primary credit card. They can also set spending limits for each add-on card and track spending separately.

How to Use Reward Points Redemption:

  • Reward Points can be redeemed through an introductory launch offer, allowing conversion into cashback credited to the card statement. To avail of this offer, cardholders can contact Kotak Customer Care and request point redemption (minimum 300 points required).
  • Additionally, Kotak Rewards provides a currency for point redemption at 25p/point. Cardholders can choose from a variety of categories such as merchandise, e-vouchers, movie vouchers, travel, and mobile recharge, among others.

IndianOil’s EXTRA REWARDS Points:

  • After the introductory launch offer, Kotak Reward Points can be converted into IndianOil’s XTRAREWARDS Points. The conversion rate is 300 Kotak Reward Points for 250 IndianOil XTRAREWARDS Points, equivalent to INR 75 in value.
  • These XTRAREWARDS Points can be used at IndianOil XTRAREWARDS Program participating outlet pumps to pay for fuel charges.

Contactless Payment:

The card features Rupay Contactless, offering a fast, secure way to pay. It allows you to make transactions up to Rs. 5000 without entering a PIN, reducing the risk of credit card loss or counterfeit.

What Are The Charges and Fees

Here’s a summary of the important charges and fees associated with the IndianOil Kotak Credit Card:

Fee & other ParametersAmount (INR)
Joining FeeINR 449/-
Annual FeesINR 449/- (Waived if INR 50,000 spent in the previous year)
Interest Charges on Outstanding Balances3.5% (Annualized @ 42%)
Add-On Card FeesNIL
Minimum Amount Due (MAD)5% or 10% of Total Amount Due (TAD) as decided by the Bank
ATM Cash Withdrawal/ Call a draft/ Fund Transfer/ Cash AdvanceINR 300/- per INR 10,000 or part thereof
Late Payment Charges (LPC)Due as per last statement (Varies based on outstanding balance)
Over Limit ChargeINR 500
Cheque Bounce ChargesINR 500 (As per Applicable Rate)
Foreign Currency Mark Up3.5%
Fee for Cash payment at BankINR 100
Reissue/ Replacement Card (per issuance)INR 100
Railway Booking Surcharge (1.8%/2.5% on transaction amount)As Applicable

How to Apply Kotak IndianOil Credit Card

Applying for the IndianOil Kotak Card is a straightforward process:

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  1. Visit the Kotak Mahindra Bank website or visit a local branch.
  2. Complete the online application form with your personal and financial details.
  3. Submit the necessary documentation as requested by the bank.
  4. Once your application is processed and approved,
  5. you will receive your IndianOil Kotak Credit Card.


Eligibility CriteriaRequirement
Age (Primary Cardholder)18 to 65 years
Age (Add-On Cardholder)18 years and above
ResidenceResident of India
Minimum Credit Score750 and above (Creditworthiness Requirement)


The IndianOil Kotak Credit Card is an excellent choice for individuals who want to maximize their savings on fuel and enjoy a range of other benefits and rewards in their day-to-day spending. Its versatile features, cost-saving potential, and wide acceptance make it a valuable financial companion for those looking to make the most of their expenses. Whether you’re a frequent traveler, a food enthusiast, or simply someone who wants to save on fuel, this credit card has something to offer for everyone.

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Your FAQs

How can I redeem the reward points earned on this credit card?

You can redeem reward points through an introductory cashback offer or Kotak Rewards, which allows you to choose from various categories like merchandise, e-vouchers, movie vouchers, travel, and more.

Can I get an add-on card for a family member with the same benefits?

Yes, you can request a free add-on card that carries the same benefits as the primary credit card. You can also set spending limits for each add-on card.

Is there an annual fee for the IndianOil Kotak Credit Card?

Yes, there is an annual fee of INR 449. However, this fee is waived if you spend INR 50,000 in the previous year.

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