IndianOil Kotak Credit Card: Fees, Rewards & Real Value
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Verified Jun 2026·By Arun, Personal Finance Editor·Cross-checked against issuer MITC & RBI sources·How we research
Verified against Kotak + IndianOil (June 2026):Up to 5% value back on IndianOil (IOCL) fuel — 4% via reward points (24 RP per ₹150, capped 1,200 RP/cycle) + 1% fuel surcharge waiver. 2% value back on grocery & dining; 0.5% (3 RP per ₹150) on other spends, including UPI credit transactions. Fuel surcharge waiver 1% (₹100–₹5,000 at IOCL, up to ₹100/month). Welcome 1,000 RP on ₹500 spend in 30 days; annual fee waived on ₹50,000 spend. Points convert to XTRAREWARDS (XRP) usable for IndianOil fuel. Confirm terms on kotak.bank.in before applying.
IndianOil Kotak Credit Card Review
Kotak Mahindra Bank · IndianOil fuel co-brand · Visa / RuPay
Our score: 7.0 / 10
Up to 5% IOCL fuel
2% grocery & dining
Fee waivable
The IndianOil Kotak Credit Card is a fuel co-brand for IndianOil customers — up to 5% value back on IOCL fuel plus grocery and dining rewards. Here is the verified review.
TL;DR: Up to 5% value back on IndianOil fuel (24 RP per ₹150 = 4%, capped 1,200 RP/cycle, plus a 1% surcharge waiver), 2% on grocery and dining, and 0.5% elsewhere including UPI. A 1,000-point welcome and a fee waived at ₹50,000 spend round it out; points convert to XTRAREWARDS for fuel at IndianOil. Good for IOCL loyalists with everyday grocery/dining spends.
What we like
Up to 5% value back on IndianOil fuel
2% on grocery & dining
0.5% on other spends incl. UPI
Fee waived at ₹50,000 spend
Points convert to fuel (XTRAREWARDS)
Watch out for
Fuel points capped 1,200 RP/cycle
Best value only at IndianOil pumps
0.5% base on general spends
Points are fuel-oriented (XRP)
No lounge access
Rewards & benefits
Item
Detail
IndianOil fuel
Up to 5% (24 RP/₹150 = 4% + 1% waiver; cap 1,200 RP/cycle)
Grocery & dining
2% value back
Other spends + UPI
0.5% (3 RP per ₹150)
Welcome
1,000 RP on ₹500 spend in 30 days
Annual fee
Waived on ₹50,000 spend
Redemption
XTRAREWARDS (XRP) for IndianOil fuel
Who this card is for
Best fit: IndianOil fuel buyers who also want grocery/dining rewards.
Skip if: you fuel elsewhere or want lounge/travel perks.
How to apply & how to cancel
Apply: via kotak.bank.in. Cancel: call Kotak after clearing dues; redeem points first.
Final verdict
The IndianOil Kotak Credit Card is a solid budget fuel card for IOCL loyalists — up to 5% on IndianOil fuel plus 2% on grocery and dining, with an easily-waived fee. Value concentrates at IndianOil and points are fuel-oriented, so it’s best as a fuel companion.
Frequently asked questions
How much fuel value?
Up to 5% on IndianOil fuel — 24 RP per ₹150 (4%, capped 1,200 RP/cycle) plus a 1% fuel surcharge waiver.
Does it reward other spends?
Yes — 2% on grocery and dining, 0.5% on other spends including UPI.
How are points redeemed?
They convert to XTRAREWARDS Points (XRP) usable for fuel at IndianOil stations.
What’s the fee?
Waived on ₹50,000 of annual spend.
Data current as of June 2026, cross-checked against Kotak and IndianOil. Confirm current terms on kotak.bank.in before applying.
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