By: Our Money Guide | Last updated on: November 25, 2025

The IndianOil Kotak Credit Card is a co-branded fuel credit card from Kotak Mahindra Bank, in partnership with Indian Oil Corporation Limited (IOCL). 

This fuel card provides special incentives on IndianOil (IOCL) fuel expenditure. It also gives higher reward on shopping and dining spends, and other lifestyle benefits.

Brief Overview

Benefits

  • 5% reward on IndianOil fuel purchases up to ₹7,500 per month 
  • 2% reward on grocery and dining spends
  • 0.50% reward on other card spends || on UPI spends
  • Complimentary personal accident insurance of ₹2 lakhs
  • Complimentary personal concierge services
  • Welcome offer: 1000 reward points worth ₹250, on spending ₹500 within 30 days of card issuance

Fees & Charges

  • Annual fee - ₹499, waived if you spend ₹50,000 or more on your card in the previous year

Let us review the card in detail - pros & cons, benefits, charges, eligibility requirements and application process.

IndianOil Kotak Credit Card - Our Money Guide

Pros & Cons of IndianOil Kotak Credit Card

Pros

  • Attractive reward of 5% on fuel spends
  • 2% reward on grocery purchases & dining expenditure
  • Relative low yearly spending requirement of ₹50,000, for annual fee waivers 
  • Lifestyle benefits such as personal concierge

Cons

  • Cardholders are restricted to IndianOil (IOCL) pumps to avail special fuel benefits

Features & Benefits of the IndianOil Kotak Credit Card

1. 5% reward on fuel purchases up to ₹7500 per month (including 1% fuel surcharge waiver)

▶︎ 4% reward on IndianOil (IOCL) fuel purchases up to ₹7500 per month

  • 24 reward points worth ₹6, on every ₹150 spent - 4% reward
  • Monthly limit - 1200 rewards points, reached at ₹7500 monthly spending 

Value of reward points & redemption

  • Value: 1 reward point = 0.25
  • Redemption: On Kotak Rewards, Kotak's rewards redemption platform 
  • Options: Merchandise, e-vouchers, movie vouchers, travel, mobile recharge and more

▶︎ 1% fuel surcharge waiver on all fuel purchases up to ₹10,000 per month

  • Valid only on fuel transactions between ₹100 and ₹5000
  • Monthly limit: ₹100, reached at ₹10,000 monthly spending

2. 2% reward on grocery purchases and dining spends 

  • 12 reward points worth ₹3, on every ₹150 spent - 2% reward
  • Monthly limit: 800 reward points, reached at ₹10,000 monthly spending

3. 0.50% reward on other card spends (including UPI spends)

  • 3 reward points worth ₹0.75, on every ₹150 spent - 0.50% reward. 
  • 1 reward point = ₹0.25 or 25 paise, and can be redeemed as explained in the previous section.

4. Personal accident insurance of ₹2 lakhs

  • You get a free ‘personal accident insurance’ coverage of ₹2 lakhs. 
  • This insurance is provided by NPCI (RUPAY), and aims to provide financial protection in case of accidental bodily injury resulting in disability or death.

5. Complimentary personal concierge services

You get exclusive personal concierge services at your fingertip. These services offer assistance with various lifestyle needs - 

  • Hassle-free gift and flower deliveries
  • Seamless restaurant referrals and bookings
  • Easy car rental and limousine reservations
  • Exclusive golf reservations for your leisure
  • Effortless movie ticket bookings and much more!

6. Kotak ‘Everyday Specials‘

  • You get exclusive everyday special offers. 
  • These offers can be found on the official Kotak website and includes discounts, cashback, rewards, and other benefits across various categories such as dining, shopping, travel, and more.

IndianOil Kotak Credit Card Fees and Charges

Annual fee 


Annual feeOffers
1st year joining fee₹449Welcome offer worth ₹250 
  • You earn 1000 Reward points worth ₹250, on spending ₹500 within 30 days of card issuance.
Renewal fee from 2nd year onwards₹449Renewal fee offer 
  • Annual fee is not charged from the 2nd year onwards, if you spend ₹50,000 or more in the previous year.
Hence, the card is free if you spend ₹50,000 or more yearly.

Foreign currency mark-up fee

  • 3.50% of the transaction amount. 
  • This fee is charged when you use your card outside India.

Finance charges

  • 3.50% per month (42% per annum)

Important note

  • GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
  • Please click here to view all/updated fees & charges on this card

IndianOil Kotak Credit Card vs Competitors

Card Name Annual Fee Benefits

IndianOil Kotak Credit Card

Minimum Income

Not specified

 Annual Fee - ₹ 449
  • Welcome offer: 1000 reward points worth ₹250 (on spending ₹500 within 30 days)
  • Renewal offer: Annual fee waived at ₹50,000 annual card spend
 Special Benefits
  • 5% reward on IndianOil fuel, on purchases up to ₹7500 per month
  • 2% reward on grocery & dining, on total spends up to ₹10,000 per month

IndianOil Axis Bank Credit Card

Minimum Income

Not specified

 Annual Fee - ₹ 500
  • Welcome offer: 1250 EDGE Reward Points worth ₹250 (given on first fuel transaction within 30 days of card issuance)
  • Renewal offer: Renewal fee is waived, if you spend ₹3.50 lakhs or more in the previous year
Special Benefits
  • 5% reward on IndianOil fuel, on purchases up to ₹5,000 per month
  • 1% reward on 'online shopping', on purchases up to ₹5000 per month

IndianOil HDFC Bank Credit Card

Minimum Income

Salaried : ₹12,000 per month || Self-employed : ₹6 lakhs per year

 Annual Fee - ₹ 500
  • Renewal offer : Annual fee is waived from the 2nd year onwards , if you spend ₹50,000 or more in the previous year.
 Special Benefits
  • 5.80% reward on IndianOil fuel, on purchases up to ₹3000 per month
  • 4.80% reward on groceries, on purchases up to ₹2000 per month
  • 4.80% reward on utility bills, on payments up to ₹2000 per month

Conclusion

The Kotak IOCL Credit Card is a good fuel card for those who spend around ₹7,500 per month on fuel, and do not mind being restricted only to IndianOil outlets. On these spends one can earn a 5% reward on your fuel purchases.The card also gives a good reward rate of 2% on grocery purchases & dining expenditure.

The card is virtually free from the 2nd year onwards, if you spend ₹50,000 or more in the previous year, which is not comparatively high.

All in all, this is one of the best fuel credit cards in India.

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Frequently Asked Questions

To check your IndianOil Kotak Credit Card reward points balance, there are various channels available to you, such as the Kotak mobile banking app, net banking portal, or contacting customer service at Kotak Mahindra Bank. These channels can provide real-time information on your rewards points balance.

Besides fuel purchases, you can redeem your accumulated reward points for an extensive range of non-fuel items such as merchandise, e-vouchers, movie vouchers, travel, and mobile recharges – on Kotak rewards platform called Kotak Rewards.You can get further details by exploring the rewards catalogue on Kotak Rewards.

Tracking your Indian Oil Kotak Credit Card transactions and statements through online means is simple! Both the net banking portal and mobile banking app offered by Kotak Mahindra Bank allow users 24/7 access to manage their credit card accounts conveniently from any device.

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