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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

Our View

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 lower 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 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 target to achieve annual fee waiver is relatively low compared to some other fuel cards.

on HDFC Bank website

IndianOil HDFC Bank Credit Card

Special Benefits

5.80% benefit on IndiaOil fuel purchases

Other Benefits

4.80% benefit on grocery purchases & bill payments

Minimum Income

Not specified

Annual Fee

₹ 500

Annual Fee Offers

Welcome Offer : Limited time offer of ₹1500 Amazon vouchers on all online applications

Renewal Offer : Renewal fee not charged at ₹50,000 annual card spend

IndianOil (IOCL) HDFC Bank Credit Card : Summary Table

5.80% earning on IndianOil fuel purchases4.80% special benefit on IndianOil (IOCL) fuel purchases : You earn 5 fuel points worth ₹4.80 , on every ₹100 you spend at IOCL fuel outlets – only on purchases up to ₹3,000 per month (on ₹5,000 purchases per month as a special promotion only for the first 6 months from card issuance). 1 fuel point = ₹0.96 or 96 paise, when you redeem fuel points at IndianOil outlets.

1% fuel surcharge waiver at all fuel stations
– applicable only on fuel transactions over ₹400, AND only upto ₹25,000 fuel spend per month (since the maximum fuel surcharge waiver amount is restricted to ₹250 per monthly card billing cycle).
– after the first ₹25,000 spent on fuel purchases during the month, you shall be charged fuel surcharge on all additional fuel expenditure during your monthly card billing cycle.
4.80% benefit on grocery purchasesYou earn 5 fuel points worth ₹4.80 , on every ₹100 you spend on grocery purchases , only on purchases up to ₹2,000 per month
4.80% benefit on bill paymentsYou earn 5 fuel points worth ₹4.80 , on every ₹100 you spend on bill payments , only on bill payments up to ₹2,000 per month
0.64% benefit on all other purchasesYou earn 0.66 fuel points worth ₹0.64 (64 paise) , on every ₹100 you spend on all other purchases.

Important exceptions : No reward points are earned on rental and government category payments.
₹500 annual feeAnnual fee offers
– Welcome offer : Special limited time offer of ₹1500 Amazon vouchers, only if you apply online. This is subject to change anytime.
– Renewal fee offer : Annual fee is not charged from the second year onwards , if you spend ₹50,000 or more in the previous year.
Minimum income requirement Salaried : ₹10,000 per month
Self-employed : ₹6 lakhs per year

Pros and Cons

Benefits of using the IndianOil (IOCL) HDFC Credit Card

  • Attractive benefit rate of 5.80% on monthly fuel spends at IOCL outlets – 4.80% on fuel purchases, and 1% waiver on fuel surcharge
  • Low annual spend target (of ₹50,000) to get renewal fees waived off
  • Attractive reward rate of 4.80% on grocery purchases and bill payments
  • 1% – 10% Cashback on various spends, on HDFC SmartBuy.

Limitations and drawbacks to consider

  • To earn special fuel rewards, it is necessary to visit IOCL Outlets specifically, hence one needs to plan more when refuelling
  • Not ideal for high fuel spenders – those spending well over ₹3,000 per month
  • The redemption process is not as straightforward as a simple cashback card.

Comparing with Competitor Fuel Credit Cards

Features
HDFC Indian Oil Credit Card
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Rewards Rate 0.2% – 4.8%

0.20% – 4%

0.5% – 4.25%

0.3% – 4%

Other benefits Fuel Surcharge WaiverFuel Surcharge WaiverFuel Surcharge WaiverFuel Surcharge Waiver
Annual Fee ₹500

₹500

₹499

₹499

Annual Fee Offers Zero renewal fees – if minimum spending in the previous year is ₹50,000

Zero renewal fees – if minimum spending in the previous year is ₹50,000

Zero renewal fees – if minimum spending in the previous year is ₹50,000

Zero renewal fees – if minimum spending in the previous year is ₹50,000

Minimum Income Over ₹10,000 monthly for salaried individuals and over ₹6 Lakhs per annum for self-employed individuals.Not SpecifiedNot SpecifiedOver ₹3,60.000 for salaried individuals and ₹ 4,80,000 for self-employed individuals.

Full Review : A Detailed Look at the Card

Features & Benefits of IndianOil HDFC Bank Credit Card

5.80% special benefit rate on IOCL (IndianOil) fuel purchases

✔︎ 4.80% benefit on IOCL fuel transactions

Earning reward points on IOCL fuel purchases : You earn 5 fuel points on every ₹100 purchase = You earn ₹4.80 (4 rupees & 80 paise) on every ₹100 purchase (since 1 Fuel point = ₹0.96 of fuel at IOCL outlets)

Redeeming reward points on IOCL fuel purchases : You need to first convert HDFC fuel points to IndianOil XtraRewards Points on Net Banking. These IOC XtraRewards Points are then redeemed at IOC fuel pumps.
– 1 fuel point = 3 IOC XtraRewards Point (XRP) = ₹ 0.96 (since 1 XRP point = ₹ 0.32)
– Please click here for more details.
– Cardholders enjoy complimentary 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

Restrictions on earning special benefits : You earn special benefits on IOCL fuel purchases of only upto ₹3,000 per month , since you can earn a maximum of 150 fuel points per month (for the first 6 months, you earn special benefits on IOCL fuel purchases of upto ₹5,000 per month). After the first ₹3,000 IOCL fuel expenditure during the month, you will earn basic benefit of 1 fuel point on every ₹150 you spend on additional purchases in the month.

Other important information : Reward points are valid for two years. Fuel points can also be redeemed for cash back & product catalogue; for these categories, 1 fuel point = ₹ 0.20

✔︎ 1% fuel surcharge waiver

Applicable fuel stations and brands : Fuel surcharge waiver is applicable at all petrol stations.
– The waiver is applicable only on fuel transactions over ₹400
– The waiver is given upto a maximum of ₹25,000 in fuel expenditures per monthly card billing cycle (since the maximum waiver is ₹250 per month)
– You need to meet both the above conditions to qualify for a fuel surcharge waiver 

4.80% benefit on grocery purchases

Earning rewards on grocery purchases : You earn 5 fuel points on every ₹100 purchase in this category (grocery purchases) = ₹4.80 (4 rupees & 80 paise) on every ₹100 purchase (since 1 fuel point = ₹0.96 of fuel at IOCL outlets)

Restrictions on earning special benefits : You earn special benefits on grocery purchases of only upto ₹2,000 per month , since you can earn a maximum of 100 fuel points per month at this special earning rate. After the first ₹2,000 spent on grocery purchases during the month, you will earn basic benefit rate of 1 fuel point on every ₹150 you spend on additional purchases in the month.

Redeeming reward points & other important information : same as explained in the section above

4.80% benefit on bill payments

Earning reward points on bill payments : You earn 5 fuel points on every ₹100 of bill payments = ₹4.80 (4 rupees & 80 paise) on every ₹100 of bill payments (since 1 fuel point = ₹0.96 of fuel at IOCL outlets)

Restrictions on earning special benefits on bill payments : You earn special benefits on bill payments of only upto ₹2,000 per month , since you can earn a maximum of 100 fuel points per month at this special earning rate. After the first ₹2,000 spent on bill payments during the month , you will earn basic benefit of 1 fuel point on every ₹150 you spend on additional bill payments in the month.

Redeeming reward points & other important information : same as explained in the section above

0.64% basic benefit on all other purchases

Earning reward points : You earn 1 fuel point on every ₹150 you spend on all other purchases = 0.66 fuel points on every ₹100 you spend = ₹0.64 (64 paise) on every ₹100 you spend (since 1 fuel point = ₹0.96 of fuel at IOCL outlets)

Important exceptions : No reward points are earned for rental and government category payments.

Redeeming reward points & other important information : same as explained in the section above.

Additional benefits on HDFC SmartBuy

HDFC SmartBuy is an HDFC platform where the bank presents all its exclusive partnerships. You can earn 1% – 10% cashback on various spends :

Variety of other instant vouchers covering most of your spending needs – from supermarkets & grocery, fashion, electronics, home & furniture, entertainment, travel etc5%
Flights, hotels, bus & train bookings5%
Apple purchases5%
Select partners like Jockey, IGP.com10%
Select partners like Nykaa, Zoomcar 5%
Flipkart1%
Limits on earning cashback :
– on the 5% cashback categories, you can earn 5% cashback on purchases upto a maximum of ₹20,000 per month
– on the 10% cashback category, you can earn 10% cashback on purchases upto a maximum of ₹10,000 per month
– on the 1% cashback category, you can earn 1% cashback on purchases upto a maximum of ₹1 lakh per month
(since you can earn a maximum cashback of ₹1,000 per monthly card billing cycle)

Other Cardholder Benefits

24/7 customer supportYour bank is always available; please click here for all the options to contact the bank.
Security featuresChip and PIN technology – security for offline transactions : In the past, credit cards typically used a magnetic stripe located on the back of the card to store and transact data. However, the latest generation of credit cards includes a CHIP and PIN feature, which provides enhanced security. Only you know your PIN, so even if your card is lost, it is unlikely to be misused since BOTH the physical card and the PIN must be spent on the card.

Two-factor authentication – security for online transactions : When making an online transaction, you approve your online transaction by using a One-time Password (OTP) you get on your mobile phone. Since only you know the OTP, the card is unlikely to be misused unless someone has access to BOTH your card details AND your mobile phone. This ensures a safe online purchase experience.

SMS alerts and notifications – for both offline and online transactions : For your peace of mind, you get free SMS alerts and notifications for all your transactions. Hence you will know about all transactions on your card. In the unlikely scenario of misusing your card, you would still get these alerts and notifications – which will help you immediately block your credit card.
Contactless paymentsLook for the contactless network symbol on your card to determine if your credit card is contactless. In India, contactless payments are allowed for a maximum of ₹5000 for a single transaction without requiring a Credit Card PIN. For transactions equal to or higher than ₹5000, the cardholder must input their Credit Card PIN for security reasons.
Zero lost card liabilityIn the unfortunate event of you losing your IndianOil HDFC Bank Credit Card, report it immediately to our 24-hour call centre. After reporting the loss, you have zero liability on any fraudulent transactions made on your Credit Card.
Interest free credit periodUp to 50 days of interest free period on your IndianOil HDFC Bank Credit Card from the date of purchase (subject to the submission of the charge by the Merchant)

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).

■ Finance charges apply to any outstanding balance of your credit card. They become applicable only if you carry forward balances of the previous month i.e. if you pay less than the full bill amount. If you clear your total card bill every month on or before the due date, you needn’t worry about paying these finance charges. Examples when finance charges will apply –
– When you pay an amount more than minimum amount due, but less than the full credit card bill.
– When you pay only the minimum amount due for the month.
– When you pay less than even the minimum amount due. In this case late payment fee shall also apply, in addition to finance charges.
■ Finance charges also usually apply when you use your credit card for cash advance, which means you use your credit card to withdraw money from the ATM
■ Hence it is very important to pay back your full credit card bill, in a timely manner each month. And unless it is an emergency, never use your credit card to withdraw money from the ATM.

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 – 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 Cibil Score of 750 is generally required.
Nationality & residential statusYou should be an Indian national.
You can be a resident Indian or NRI

Applying & Tracking Application Status

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”.
Approval timeline and application tracking processTimeline : In most cases, the credit card decision would be communicated within a few days. In certain cases, it could take longer, especially if the bank wants more information and documents from you.

Tracking 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

For details, click here

Choosing the right card for your needs

As you have seen , the best fuel card depends on your personal circumstances. Some of the main points you should look at –

EligibilityYou should have a minimum monthly income ₹10,000 (if you are salaried), and a minimum yearly income of ₹6 lakhs (if you are self-employed)

Generally, a credit score of 750 & above is considered acceptable to get a card.
Your monthly fuel spend Fuel cards give special benefits on fuel , for a certain monthly amount of fuel spend. For example, HDFC Indian Oil Card gives 4.80% benefit on IOCL fuel purchases on a maximum monthly fuel purchase of  ₹3,000.

If you are a high fuel spender who spends much more than ₹3,000 on monthly fuel purchases, then you would need to look at other fuel credit cards.
Are you comfortable having more than 1 card ?Fuel cards normally do not offer very high benefits on non-fuel spending. While HDFC Indian Oil Credit Card gives a high benefit rate of 4.80% on grocery purchases & bill payments, the monthly spend limits (of ₹2,000 per month) to earn this high reward rate are low.

Hence fuel cards are best when you get them IN ADDITION to one or two other cards,  which give you high rewards on your non-fuel purchases such as shopping, travel, etc. 
Annual feeHDFC Indian Oil Credit Card has a special promotion of ₹1,500 (in Amazon vouchers), only if you apply online. The card also has a low annual spend target of ₹50,000 to get renewal fees waived off.  Hence, if you spend ₹50,000 every year, it will be virtually lifetime free. 

Conclusion

As you can see, your personal circumstances would dictate the best card for you.

HDFC Indian Oil Credit Card is a great fuel card option for those who spend about ₹3,000 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 ₹2,000 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.

Apply Now

on HDFC Bank website

Frequently Asked Questions

How can I apply for an IOCL HDFC Credit Card?

To apply for an HDFC Indian Oil Credit Card, you can click here OR visit the official HDFC Bank website or your nearest HDFC Bank branch. Please note that eligibility criteria and documentation requirements will apply.

What are the benefits of using an HDFC Indian Oil Credit Card?

The HDFC Indian Oil Credit Card offers a range of benefits – 5.80% reward rate on fuel purchases, 4.80% reward rate on grocery purchases and bill payments, as well as attractive cashback of upto 10% on HDFC SmartBuy platform. It also has a low annual spend target (of ₹50,000) to get renewal fees waived off.

How can I redeem the fuel points earned on my Indian Oil HDFC Credit Card?

You can redeem the fuel points earned on your card by logging in to the HDFC Bank NetBanking portal or calling the HDFC customer service helpline. The fuel points are converted to IOC XtraRewards Points (loyalty program of Indian Oil Corporation Limited), and then can be used to purchase fuel at IOCL outlets. 1 fuel point = ₹0.96 (96 paise)

How can I track my HDFC Indian Oil Credit Card transactions and payments?

You can track IOCL HDFC Credit Card transactions and payments through multiple channels. You can log in to the HDFC Bank NetBanking portal or the HDFC Bank Mobile Banking App or through Whatsapp Banking to view your card transactions and make payments. You can also receive monthly credit card statements via email or physical mail, which provide a detailed summary of your card usage and payments. Additionally, you can call the HDFC Bank customer service helpline or visit the nearest HDFC branch for assistance with tracking your card transactions and fees.

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