IndianOil Axis Bank Premium Credit Card Review
The IndianOil Axis Bank Premium is a fuel-focused card that pays 6 EDGE Miles per ₹150 at IndianOil — worth about 4% when redeemed for IndianOil fuel — on up to ₹15,000 of fuel a month.
It adds an uncapped 1% fuel surcharge waiver at IndianOil, conditional domestic lounge visits and a Zomato discount.
- About 4% back at IndianOil when redeemed for fuel (1 Mile = ₹1)
- 1% fuel surcharge waiver at IndianOil with no cap
- High monthly fuel limit (₹15,000)
- 500 welcome EDGE Miles
- Zomato 30% off twice a month
- Low 1 Mile per ₹150 elsewhere
- Miles worth only ₹0.20 on Travel Edge
- Lounge visits need ₹50,000 spend in the previous three months
- Many categories excluded
- ₹1,000 fee if you spend under ₹30,000
Fees and charges
| Item | Detail |
|---|---|
| Joining fee | ₹1,000 |
| Annual fee | ₹1,000, waived on ₹30,000 spend in an anniversary year (per Axis’s product page; confirm in your card’s T&C) |
| Fuel surcharge waiver | 1% at IndianOil, unlimited (GST on surcharge not refunded) |
| Forex markup | Check Axis’s current schedule |
Rewards: how the card earns
| Spend | EDGE Miles per ₹150 |
|---|---|
| IndianOil fuel (up to ₹15,000 a month) | 6 (max 600 a month) |
| Grocery and supermarkets | 2 (bonus capped at 33 a month) |
| Other spends | 1 |
Redemption: 1 Mile = ₹1 on IndianOil fuel (minimum 500), ₹0.20 on Axis Travel Edge, or transfer to 13 partners at 2 Miles = 1 partner point.
What earns nothing
Transport and tolls, utilities, insurance, education, government, wallet loads and rent earn no EDGE Miles.
Other benefits
| Benefit | Detail |
|---|---|
| Welcome | 500 EDGE Miles on the first transaction within 30 days |
| Lounge access | 2 domestic visits a quarter after ₹50,000 spend in the previous three calendar months (new cards exempt for the first few months) |
| Dining | Zomato 30% off on orders of ₹200+, twice a month |
| Fuel | 1% surcharge waiver at all IndianOil outlets |
Eligibility
Issuer
Axis Bank
Network
Visa and Mastercard
Fee
₹1,000
Documents
PAN, Aadhaar, income proof
Who this card is for
- Good fit: heavy IndianOil users spending ₹10,000–₹15,000 a month on fuel.
- Skip if: you rarely use IndianOil outlets — the rest of the card earns very little.
Alternatives worth comparing
- IndianOil Kotak — ₹449 alternative for lighter fuel use
- Best fuel credit cards
- Best Axis Bank credit cards
- BPCL SBI Octane
Final verdict
One of the strongest IndianOil cards for heavy fuel users: about 5% back including the uncapped surcharge waiver on up to ₹15,000 a month. Outside fuel it is weak, so pair it with a general rewards card.
Frequently asked questions
How much do I earn on fuel?
6 EDGE Miles per ₹150 at IndianOil on up to ₹15,000 a month, worth about 4% when redeemed for IndianOil fuel at ₹1 a Mile.
Is the fuel surcharge waiver capped?
No. Axis offers a 1% fuel surcharge waiver at all IndianOil outlets without a cap; GST on the surcharge is not refunded.
How is the annual fee waived?
Axis’s product page says spending ₹30,000 in an anniversary year waives the fee. Confirm in your card’s T&C.
Does it give lounge access?
2 domestic visits a quarter if you spent ₹50,000 in the previous three months.
How can I redeem EDGE Miles?
For IndianOil fuel (1 Mile = ₹1), on Axis Travel Edge (₹0.20) or by transferring to partners.
Last verified: October 2026, against Axis Bank’s IndianOil Premium product page and card T&C. Card terms change often; confirm the current fees and reward rules on the issuer’s website before you apply. All fees are plus 18% GST.