By: OurMoneyGuide || Last updated on: June 8, 2024

HDFC IOCL Card is a joint collaboration between Indian Oil Corporation Limited (IOCL) and HDFC Bank. It is designed to cater to frequent travellers and daily commuters who want to save money on fuel expenses. The card also provides attractive rewards on groceries and bill payments.

Brief Summary

Our Rating

4.0 / 5

Best for those who spend upto ₹3000 , on monthly fuel purchases, and are comfortable with being restricted only to IndianOil fuel pumps. You earn 5.80% on IndianOil fuel purchases, 4.80% benefit on IndianOil fuel purchases and 1% fuel surcharge waiver. So it is a good fuel card for relatively low fuel spenders since special benefits are restricted to monthly fuel purchases of ₹3000.

You also get 4.80% on grocery purchases, but this special benefit is restricted to monthly grocery purchases of ₹2000 only. Similarly, you also get 4.80% on bill payments, but this special benefit is also restricted to total monthly bill payments of ₹2000 only.

The card is virtually free from the second year onwards if you spend ₹50,000 or more in the previous year, the ₹50,000 annual card spend requirement to get an annual fee waiver is relatively low compared to some other fuel cards.

Pros & Cons of IndianOil HDFC Bank Credit Card

Pros

  • Attractive reward rate of 5.80% on monthly fuel spends at IOCL outlets
  • Low annual spend requirement of ₹50,000 to get annual fee waiver
  • Attractive reward rate of 4.80% on grocery purchases and bill payments
  • 1% – 10% cashback on various card spends (on HDFC SmartBuy)

Cons

  • Accelerated fuel rewards restricted to IndianOil fuel pumps
  • Not ideal for high fuel spenders since special fuel rewards are restricted to fuel spends of ₹3000 per month

Features & Benefits of the IndianOil HDFC Bank Credit Card

5.80% benefit on IndianOil fuel purchases – on purchases upto ₹3000 per month

✔︎ 4.80% benefit on IOCL fuel transactions – on fuel purchases upto ₹3000 per month

You earn 5 fuel points worth ₹4.80, on every ₹100 you spend on IndianOil fuel purchases. 1 fuel point = ₹0.96 of fuel at IOCL outlets. 

The above benefit is valid only on IOCL fuel purchases of only upto ₹3000 per month, since you can earn a maximum of 150 fuel points per month at this special rate. Only for the first 6 months, you earn 5% special cashback on IOCL fuel purchases of upto ₹5000 per month (as a special promotion). 

Rewards redemption process
- You need to first convert HDFC fuel points to IndianOil XtraRewards Points on Net Banking ((1 fuel point = 3 IOC XtraRewards Point (XRP)). These IOC XtraRewards Points are then redeemed at IOC fuel pumps (1 XRP point = ₹ 0.32).
- Hence 1 fuel point = 3 IOC XtraRewards Point (XRP) = ₹ 0.96 (since 1 XRP point = ₹ 0.32). Please click here for more details.
- Cardholders get enrolled to the IndianOil loyalty program ((IndianOil XTRA REWARDS Program (IXRP)), upon receiving their IndianOil HDFC Bank credit card. You can track your XRP balance and manage it through the IndianOil ONE mobile app.

Reward points are valid for two years.. Fuel points can also be redeemed for cash back & product catalogue at a much lower conversion rate, for these categories 1 fuel point = ₹ 0.20.

✔︎ 1% fuel surcharge waiver – on fuel purchases upto ₹25000 per month

Fuel surcharge waiver is applicable at IndianOil fuel stations.
– The waiver is applicable only on fuel transactions over ₹400
– The waiver is given on fuel purchases upto ₹25,000 per month, since the maximum waiver is restricted to ₹250 per month.

4.80% benefit on grocery purchases upto ₹2000 per month

You earn 5 fuel points worth ₹4.80, on every ₹100 you spend on grocery purchases. 1 fuel point = ₹0.96 of fuel at IndianOil outlets.

This benefit is valid only on grocery purchases upto ₹2,000 per month , since you can earn a maximum of 100 fuel points per month at this special earning rate.

4.80% benefit on bill payments upto ₹2000 per month

You earn 5 fuel points worth ₹4.80, on every ₹100 you spend on bill payments. 1 fuel point = ₹0.96 of fuel at IOCL outlets.

This benefit is valid only on bill payments upto ₹2000 per month , since you can earn a maximum of 100 fuel points per month at this special earning rate.

0.64% basic benefit on all other card purchases

You earn 1 fuel point worth ₹0.96, on every ₹150 you spend on all other card purchases (meaning 0.66 fuel point worth ₹0.64 on every ₹100 spent) – 0.64% benefit.

1 fuel point = ₹0.96 of fuel at IOCL outlets.

No reward points are given on rental and government category payments.

Upto 10% cashback on a variety of categories and partners – through HDFC Smartbuy platform

HDFC Smartbuy is a platform which display’s HDFC Bank’s exclusive partnerships with a variety of partners. You get 5% – 10% cashback on various categories and at various partners, please see details in the table below.

You get a a maximum cashback of ₹1000 per month. For example, if you shop only in the 5% shopping categories/partners, you shall get 5% cashback on total card purchases upto ₹20,000 per month.


Applicable categories and partners
5% cashback on travel spends, through HDFC Smartbuy✓ Flight bookings
✓ Hotel bookings
✓ IRCTC train tickets
✓ Bus tickets, through RedBus
✓ MakeMyTrip holiday packages
5% cashback on gift voucher purchases, through HDFC SmartbuyGift vouchers usually include Amazon Pay, Flipkart, Amazon shopping and more.

There maybe individual limits on certain gift vouchers, and/or processing charges on certain gift vouchers, for example Amazon Pay vouchers. To see latest details, and a list of all gift vouchers available, please click here.
5% cashback at select partners, through HDFC Smartbuy✓ Myntra
✓ Apple Imagine Tresor
✓ Nykaa
✓ Zoom Car
10% cashback at select partners, through HDFC Smartbuy✓ Pharmeasy
✓ IGP
✓ Jockey
Please note that partners listed on HDFC Smartbuy platform could change from time to time. To see latest details of applicable partners, please click here.

Dining benefits (HDFC Swiggy Dineout Program) – 7.50% discount (upto ₹250 per order), twice a month

This offer is valid 2 times per month. Minimum order amount required to avail this offer is ₹2000. Payments need to be made through the Swiggy app. 

You get 7.50% discount (upto ₹250 per order) at restaurants. Hence you get a 7.50% discount on orders between ₹2000 and ₹3333. On orders above ₹3333, your discount percentage will fall below 7.50%.

For more details, including how to avail the offer, please click here – HDFC Swiggy Dineout Dining Program.

Zero lost card liability

In case you misplace your credit card, you should promptly reporting the loss to HDFC Bank’s 24-hour call centre. You will be protected from any unauthorized charges.

24/7 HDFC customer support 

Your bank is always available; please click here for all the options to contact the bank.

IndianOil HDFC Bank Credit Card Fees and Charges

Annual fee & annual fee offers


Annual feeAnnual fee offers
1st year joining fee₹500Welcome offer : Limited period welcome offer worth ₹1500 (in the form of Amazon vouchers) , only if you apply for the card online. Click here for details.
Renewal fee from 2nd year onwards₹500Renewal fee offer : Renewal fees is not charged from the 2nd year onwards, if you spend ₹50,000 or more in the previous year

Hence the card is virtually free if you spend ₹50,000 or more per year.

Late payment fee

Late payment fee is charged if you do not pay even the minimum due amount before due date. The fee depends on the total payment due, please refer table below –

Amount dueLate fee
Less than ₹100Nil
₹101 to ₹500₹100
₹501 to ₹5,000₹500
₹5,001 to ₹10,000₹600
₹10,001 to ₹25,000₹800
₹25001 to ₹50000₹1100
₹50001 and above₹1300

Finance charges 

3.60% per month (43.20% per annum).

Foreign currency transaction fee 

3.50% of the transaction amount. This fee is charged when you use your card for foreign currency transactions

1% fee on rental transactions – 

Applicable from the 2nd rental transaction done every calendar month

Please note

– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all details/updated fees & charges on this card, please click here – IndianOil HDFC Bank Credit Card Fees & Charges

Eligibility Criteria

Age requirementSalaried : between 21 and 60 years
Self-employed : between 21 and 65 years
Minimum income requirementSalaried : ₹10,000 per month
Self-employed : ₹ 6 lakhs per year
Credit score  Not specified, a minimum credit score of 750 or more is generally required.
Nationality & residential statusYou should be an Indian national.
You can be a resident Indian or NRI

Application Process

Step by step guide

Online application processThe easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the HDFC Bank website. You can also visit official website of the bank and fill out the application form.

Steps –
– Fill out the application form. The bank’s website and mobile app offer a user-friendly interface that makes the application process quick and easy.
– Simply provide your personal details, such as your mobile phone number, income, and PAN number, along with the required documents (listed below in the next section of this page).
– Submit the application
Offline (face to face) application processYou can visit any of the nearest branches of the bank and talk to an executive regarding the process.
Whatsapp BankingYou can also apply for your card through HDFC Whatsapp Banking. Here are the steps to apply for an HDFC IndianOil credit card through WhatsApp banking:

1. Save the Chat Banking number 7070022222 (HDFC Bank WhatsApp number) in your contacts
2. Send “Hi”
3. Choose the desired option OR simply type your query e.g – “Apply for Credit Card”.
Application tracking processTracking your card application :
– When you apply you get a reference/ application number. If your card is approved , you get a confirmation SMS post which you can track your application by clicking here .

– To track your credit card offline, you can call the 24*7 customer care number and present your issue. You can also track your credit card by walking into the nearest HDFC Bank branch and give your application reference number. The branch executives will then check your credit card application status and track it.


Necessary documents and verification

Required documents
– PAN card copy

– Identity proof : PAN card , driving license, valid passport, voter ID (any one)

– Address proof : electricity bill, phone bill (not more than 2 months old), driving licence, passport, ration card, bank statement, passbook (not older than 3 months), voters ID, flat maintenance bill (not older than 2 months), rent agreement (any one)

– Income proof : latest salary slip/s, income tax return etc

Conclusion

HDFC Indian Oil Credit Card is a great fuel card option for those who spend about ₹3000 per month on fuel , and do not mind being restricted to IOCL fuel pumps. On these spends, one can get 5.80% rewards on fuel purchases.

It also offers a high benefit rate of 4.80% on grocery purchases & bill payments, with monthly spend limits of ₹2000 each.

Hence if you use these high reward rates on fuel, grocery & bill payments, you would not only earn a high reward rate on these categories, it will also help you achieve the yearly spend target of ₹50,000 to make this card virtually lifetime free. 

However this card is more suitable for low card spenders, since special cashback rates are applicable on comparatively low spend amounts.