IndianOil Kotak Bank Credit Card
Kotak bank KOTAK Bank

IndianOil Kotak Bank Credit Card

cat name Reward Points
cat name Fuel

Best Suited For: Fuel Transactions

Joining Fee: ₹499* Plus Applicable Taxes

Renewal Fee: ₹499* Plus Applicable Taxes

cat name Reward Points
cat name Fuel

Best Suited For: Fuel Transactions

Joining Fee: ₹499* Plus Applicable Taxes

Renewal Fee: ₹499* Plus Applicable Taxes

Best Features:- 4% value back as reward points at IndianOil fuel stations

credit score

The IndianOil Kotak Credit Card is a smart entry-level credit card tailored for people looking for fuel savings and everyday rewards. With the joining fee of just ₹449, this card offers up to 4% value back on fuel purchases at IndianOil outlets and 2% rewards on groceries and dining. You can earn 1,000 Reward Points as a welcome bonus by spending ₹500 within the first 30 days. This card helps you save on everyday purchases with hassle-free benefits.

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All You Need To Know

Card Type

Fuel Transactions

Fuel Rewards & Surcharge Waiver
  • Fuel Rewards: Earn 4% back as reward points for fuel purchases at Indian Oil fuel stations. This equals 24 reward points for every ₹150 spent, with a cap of 1,200 reward points per month.
  • Fuel Surcharge Waiver: Get a 1% waiver on fuel transactions between ₹100 and ₹5,000, with a maximum monthly benefit of ₹100.
Reward Points on Other Categories
  • Dining and Grocery: Earn 2% back as reward points (12 points per ₹150 spent), capped at 800 points per month.
  • Other Transactions: Earn 0.5% back as reward points (3 points per ₹150 spent), with no monthly cap.
Welcome Benefits
  • Receive 1,000 reward points as a welcome gift on spending ₹500 or more within the first 30 days.
  • This welcome benefit is only applicable to cards where the joining fee is paid.
Annual Fee Waiver
  • Enjoy a waiver on the annual fee of ₹499 by spending ₹50,000 or more in the anniversary year.
Reward Redemption Options
  • Redeem reward points as cashback at a value of 1 point = ₹0.25, with a minimum redemption of 300 points in multiples of 300.
  • Convert reward points into IndianOil XTRAREWARDS points at a rate of 300 Kotak reward points = 250 XTRAREWARDS points, which can be used for fuel purchases.
  • Redeem points for merchandise, e-vouchers, travel bookings, and more via the Kotak rewards catalog.
Insurance Benefits
  • Avail personal accident insurance coverage of ₹2 lakh.
Additional Benefits
  • Concierge Services: Access personalized services such as gift delivery, restaurant bookings, car rentals, and movie ticket reservations.
  • Add-On Cards: Provide supplementary cards for family members with customizable spending limits and separate tracking for each card.
  • Contactless Payments: Use RuPay contactless technology for seamless transactions up to ₹5,000 without entering a PIN.
  • Zero Liability Protection: Stay protected against unauthorized transactions in case of card loss.
Limitations
  • Reward benefits on dining and grocery are capped at ₹200 per month (800 points).
  • The cashback redemption rate of 1 point = ₹0.25 may not offer the highest value compared to some other cards.
  • Conversion of reward points to XTRAREWARDS involves additional steps, potentially complicating the redemption process.

Indian Oil Co-Branded Kotak Bank Credit Card Eligibility:

Criteria Details
Age 18 to 65 years
Occupation Salaried or Self-employed
Documents Required Click here to view the list of eligible documents

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

Type of Fee or Charge Amount
Joining Fee Rs. 449
Annual/Renewal Fee Rs. 449
Interest Charges 3.5% per month | 42% per annum
Late Payment Charges For Outstanding Amount:
  • Rs. 100 to Rs. 500: Rs. 100
  • Rs. 500.01 to Rs. 5,000: Rs. 500
  • Rs. 5,000.1 to Rs. 10,000: Rs. 500
  • Above Rs. 10,000: Rs. 700

Apply for IndianOil Kotak Credit Card

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FAQs

Yes, a free add-on card is available for family members aged 18 or above. You can set spending limits and track transactions on the add-on card.

The annual fee is ₹449 + taxes. However, this fee can be waived if you spent ₹50,000 or more in the previous year.

Yes, earn 1,000 reward points when you spend ₹500 or more within 30 days of card issuance, provided the joining fee is paid.

  • 24 reward points per ₹150 spent on fuel at IndianOil outlets (capped at 1,200 points/month).
  • 12 reward points per ₹150 spent on dining and groceries (capped at 800 points/month).
  • 3 reward points per ₹150 spent on other categories.

You can redeem reward points on the Kotak Rewards website or via IndianOil XTRAREWARDS for cashback, vouchers, or fuel benefits.

No, this card does not offer complimentary airport or railway lounge access.

You can make Tap & Pay transactions of up to ₹5,000 per transaction safely and securely.

Yes, the card provides personal accident insurance cover of ₹2 lakh.

Yes, you can withdraw cash. A cash advance fee of ₹300 per ₹10,000 withdrawal is applicable.

You can convert your reward points into cashback by contacting Kotak Customer Care at 18602662666. This is available as a limited-time launch offer.

Here are some of the links that will help you manage your Kotak Credit Card, you can click on them as per your requirements:

Check if you are eligible for the IndianOil Kotak Credit Card on
mybankingtips.com

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