IndianOil Kotak Credit Card

The card provides a 5% cashback on fuel expenditures at IndianOil petrol pumps through the following benefits:

• You can earn a 4% cashback in the form of reward points on IndianOil fuel purchases. This value back is provided as 24 reward points for every Rs. 150 spent. The maximum reward points you can earn through this feature is 1200 reward points per statement cycle.
• Furthermore, the card includes a 1% fuel surcharge waiver on transactions ranging from Rs. 100 to Rs. 5,000, with a maximum surcharge waiver capped at Rs. 100 per statement cycle. This waiver is applicable exclusively at IndianOil outlets.

So, with this card, you can get a maximum value benefit of Rs. 400 each month. This calculation is based on the redemption rate of 1 reward point = Rs. 0.25. So, when you earn 1200 reward points, it translates to Rs. 300, and you can also enjoy a maximum surcharge waiver of Rs. 100. Keep in mind that the value of redemption might vary on different platforms, as explained in the section below.

In addition to the advantages related to fuel purchases at Indian Oil fuel stations, this card provides cashback opportunities across all retail transactions, with a focus on specific categories. These are outlined below:

• You can enjoy a 2% cashback on Grocery and Dining expenses with this card, earning 12 reward points for every Rs. 150 spent. The maximum reward points you can accumulate through this feature are limited to 800 Reward Points per statement cycle.
• For all other expenditures, the card provides a 0.5% cashback in the form of 3 reward points for every Rs. 150 spent.

Even though this card gives good rewards for every Rs. 150 you spend, there's a monthly limit of Rs. 800. So, the most you can get back is Rs. 200 each month (1 reward point= Rs.0.25). This cap affects the benefits, especially for groceries and dining, making the rewards limited. For instance, if you spend Rs. 10,000 in these categories, your benefit will only be Rs. 200. If you use your credit card a lot for everyday expenses, you might want to check out other cards that offer better cashback.

*Cashback redemption against IndianOil Kotak Credit card is an introductory launch offer and is valid for a limited period.

** Redemption against XTRAREWARDS Points conversion can be availed only after the expiry of Introductory Launch Offer.

When it comes to redeeming your cashback, there are a couple of drawbacks to be aware of. Firstly, the redemption against the cashback balance is a limited-time offer. Secondly, compared to many other cards, this card has a lower conversion value of 1 reward point = Rs. 0.25. Additionally, if you choose the IndianOil XTRAREWARDS Program for redemption, it involves an unnecessary extra step. Instead of a direct conversion, you have to convert the points to XTRAREWARDS and then to the reward value.

• Annual fee waiver on spending Rs. 50,000 in an anniversary year.
• This credit card offers a personal accident insurance cover of Rs. 2 Lakh.
• You can avail an interest-free credit period for up to 48 days with this card.
• Furthermore, the card provides personal concierge services, offering assistance in various areas such as gift and flower delivery, restaurant referrals and reservations, car rental and limousine referrals and reservations, golf reservations, and booking movie tickets, among others.
• The card enables safe and secure contactless payments, allow Smart EMI and comes along with zero lost-card liability.

The fees and charges associated with the Indian Oil Kotak Credit Card are as follows:

To apply for the Indian Oil Kotak Credit Card, applicants should meet the following eligibility criteria:

The IndianOil Kotak Credit Card is a fuel card that gives you various benefits. You get cashback on fuel, dining, groceries, and shopping. There are perks like easy renewal fee waiver, joining benefits, and concierge service included.

This card gives you good savings on Indian Oil fuel purchases, allowing you to save up to Rs. 400 each month. You can use these savings by redeeming them for cashback or items from the Kotak rewards catalog. If you opt for Indian Oil XTRAREWARDS Point redemption, you can use your rewards directly at IOCL pumps to pay for fuel. However, even though it's a 'fuel' card, the limit on general fuel surcharge makes it similar to regular 'non-fuel' credit cards. The benefits are mainly for Indian Oil fuel purchases, so it's like a co-branded card – great if you're loyal to IOCL. For other spending, the benefits are limited due to the monthly points cap of 800. Choose this card if you're focused on saving on fuel, not so much on other things.

If you use your own vehicle daily and prefer filling up at Indian Oil pumps, the IndianOil Kotak Credit Card is a good fit for you. You can get the most out of it if you spend a lot on fuel every month, are okay with the redemption choices, and find the basic benefits satisfactory without needing premium perks. However, if you want fuel benefits without any brand restriction, you might want to explore other popular fuel credit cards.