IndianOil Kotak Credit Card

The IndianOil Kotak Credit Card is a co-branded fuel credit card designed for daily commuters who fuel at IndianOil stations. Offering up to 5% savings on IndianOil fuel purchases (4% as reward points and 1% through fuel surcharge waiver with a maximum value-back of ₹400 per month), plus 2% rewards on grocery and dining spends (capped at ₹200 per month), it's ideal for those with regular fuel expenses at IndianOil outlets and everyday grocery/dining needs. 

Overview 

• Co-branded Partnership: Kotak Mahindra Bank has joined hands with IndianOil Corporation Limited to launch this fuel-based card. 

• Up to 5% Fuel Savings: Save up to 5% on IndianOil fuel transactions (4% as reward points + 1% fuel surcharge waiver). 

• Everyday Rewards: Earn 2% on dining and grocery spends, 0.5% on all other spends. 

• RuPay Benefits: Available on the RuPay variant with concierge services and UPI transaction capabilities. 

• Low Annual Fee: Annual fee of ₹449 with an easy waiver condition (₹50,000 annual spend). 

• Add-on Cards: Complimentary add-on cards are available for family members. 

Rewards and Benefits 

Earning Reward Points 

• IndianOil Fuel Spends: Earn 4% back as reward points on IndianOil fuel purchases (maximum ₹400 per month value back, including surcharge waiver). 

• Grocery & Dining Spends: Earn 2% back as reward points on grocery and dining spends (valid only on select merchant categories: 5812, 5814, 5813, 5411, 5311, 5399, 5422, 5451, 5499 & 5441). 

• Other Spends: Get 0.5% back as reward points on all other spends (no capping). 

• Monthly Capping: Grocery and dining reward points are capped at 800 reward points per month, limiting value back to ₹200 per month. 

Redeeming Reward Points 

Accumulated reward points can be redeemed through the following options: 

• Kotak Rewards: Redeem points for products or vouchers through the Kotak Rewards catalogue. 

• Cashback: Redeem against cashback at 1 Reward Point = ₹0.20 (limited-period offer as per Paisabazaar). 

• IndianOil XTRAREWARDS Points: Convert Kotak reward points into IndianOil XTRAREWARDS Points (XRP) for fuel purchases at IndianOil fuel stations. 

Note: You cannot directly redeem reward points at IndianOil fuel stations; conversion to XTRAREWARDS Points is required. The value calculation on the Kotak website assumes 1 Reward Point = ₹0.25 for indicative purposes. 

Welcome Benefit 

• 1,000 Reward Points: Receive 1,000 reward points (worth ₹250 when redeemed as cashback) on spending ₹500 or above in a single transaction within 30 days of card issuance. 

• Applicable: Only on credit cards with joining fees. 

• Credit Timeline: Benefit will be credited within 3 months of completing the transaction. 

Annual Fee Waiver 

• Waiver Condition: Annual fee of ₹449 is waived on spending ₹50,000 in the previous anniversary year. 

Fuel Surcharge Waiver 

• 1% Fuel Surcharge Waiver: Get a 1% fuel surcharge waiver on transactions between ₹100 to ₹5,000 at IndianOil outlets only. 

RuPay Benefits 

• Concierge Services: Avail personal concierge and assistance by calling 1800-26-78729 (applicable on RuPay variant only). 

• UPI Transactions: Earn rewards on UPI spends with the RuPay variant. 

Add-on Card 

• Complimentary Add-on Cards: Extend benefits to family members with no additional fee. 

• Features: Set spending limits and track transactions easily. 

Disclaimer: The card features, benefits, application process, and other details mentioned above are accurate at the time of writing, but may change without prior notice.