Indian Oil Axis Bank Premium Credit card
Joining Fee: ₹1,000 + GST
Renewal Fee: ₹1,000 + GST
Reward Type: Edge Miles
EDGE Miles Rewards
IndianOil Fuel Purchases: Earn 6X EDGE Miles for every ₹150 spent, capped at 600 EDGE Miles. After spending ₹15,000, earn EDGE Miles at the base rate of 1X.
Groceries and Supermarkets: Earn 2X EDGE Miles for every ₹150 spent, up to 33 EDGE Miles for spending up to ₹5,000.
Other Eligible Spends: Earn 1 EDGE Mile for every ₹150 spent.
Exclusions: No EDGE Miles for transportation, tolls, utilities, insurance, education, government institutions, wallets, or rent.
Axis EDGE Miles Redemption
IndianOil Fuel: 1 EDGE Mile = ₹1.
Miles Transfer: 2 EDGE Miles = 1 Partner Point with airlines and hotel chains (e.g., Air France-KLM, Etihad Airways, Marriott International).
IOCL Rewards: 3 EDGE Miles = 10 XRPs.
Travel Edge Bookings: 1 EDGE Mile = ₹0.20.
Zomato Discount
Zomato Offer: Get 30% off (up to ₹150) on orders of ₹200 and above, twice monthly.
Annual Benefit: Maximum benefit of ₹3,600.
Complimentary Airport Lounge Access
Lounge Access: Up to 2 complimentary domestic airport lounge visits each quarter (8 visits annually).
Eligibility: Requires a minimum spend of ₹50,000 in the previous three months.
Fuel Surcharge Waiver
Fuel Surcharge: Unlimited 1% waiver on fuel surcharges at IndianOil outlets.
Summary
Indian Oil Axis Bank Premium Credit card offers a range of benefits with its EDGE Miles program. You earn 6X EDGE Miles on IndianOil purchases (capped at 600 EDGE Miles), 2X on groceries and supermarkets (up to ₹5,000), and 1 EDGE Mile on other eligible spends. However, no EDGE Miles are earned on transportation, tolls, utilities, insurance, education, government institutions, wallets, or rent. Redemption options include converting 1 EDGE Mile to ₹1 for IndianOil fuel, 2 EDGE Miles to 1 partner point with airlines and hotels, or 3 EDGE Miles to 10 XRPs. Additionally, you can receive a 30% discount (up to ₹150) on Zomato orders twice monthly, with a maximum annual benefit of ₹3,600. The card also provides up to 2 complimentary domestic airport lounge visits each quarter, contingent on a minimum spend of ₹50,000 in the previous three months, and offers an unlimited 1% waiver on fuel surcharges at IndianOil outlets.