IndianOil Axis Bank Premium Credit Card Review
The IndianOil Axis Bank Premium is the upgraded IOCL fuel co-brand — strong fuel earning in transferable EDGE Miles, plus lounge access and Zomato discounts. Here is the verified review.
- 6 EDGE Miles per ₹150 at IndianOil + 1% unlimited surcharge waiver
- EDGE Miles transfer to 15+ airline/hotel partners
- 8 domestic lounge visits/year (spend-gated)
- 30% Zomato discount; grocery rewards
- Fee waived at ₹30,000 spend
- Fuel miles capped 600/month (1X after ₹15k fuel)
- Lounge needs ₹50k prior-3-month spend
- Best value only at IndianOil pumps
- 2:1 transfer ratio to partners
- Modest base off fuel/grocery
Rewards & benefits
| Item | Detail |
|---|---|
| IndianOil fuel | 6 EDGE Miles per ₹150 (cap 600/month; 1X after ₹15k) + 1% unlimited waiver |
| Grocery/supermarket | 2X EDGE Miles (max 33/₹5,000) |
| Zomato | 30% off (2x/month, max ₹150) |
| Lounge | 2 domestic/quarter (₹50k prior-3-month spend) |
| Transfer | 2:1 to 15+ partners; 1:1 for IndianOil fuel |
| Fee | ₹1,000 (waived on ₹30,000 spend) |
Who this card is for
- Best fit: IndianOil fuel buyers who want transferable miles plus lounges and dining perks.
- Skip if: you fuel elsewhere or won’t use mile transfers.
How to apply & how to cancel
Apply: via axis.bank.in. Cancel: call Axis after clearing dues; transfer/redeem EDGE Miles first.
Final verdict
The IndianOil Axis Premium is a strong premium fuel card for IOCL loyalists — 6 EDGE Miles per ₹150 on fuel that transfer to airline/hotel partners, plus lounges and Zomato discounts, for an easily-waived ₹1,000 fee. Respect the monthly fuel cap; value concentrates at IndianOil.
Frequently asked questions
How much fuel reward?
6 EDGE Miles per ₹150 at IndianOil (capped 600 Miles/month; base 1X after ₹15,000 fuel spend) plus a 1% unlimited surcharge waiver.
Can I transfer the miles?
Yes — to 15+ airline/hotel partners at 2:1, or 1:1 toward IndianOil fuel.
What’s the fee?
₹1,000, waived on ₹30,000 of annual spend.
Does it offer lounge access?
Yes — 2 domestic lounge visits a quarter, subject to ₹50,000 spend in the previous three months.
Data current as of June 2026, cross-checked against Axis Bank and aggregators. Confirm current terms on axis.bank.in before applying.