IndianOil Kotak Credit Card
Joining Fee: ₹449 + GST
Renewal Fee: ₹449 + GST
Best Suited For: Fuel
Reward Type: Reward Points
Welcome Benefits
1000 Reward Points: Earn 1000 reward points when you spend Rs. 500 or more within 30 days of card issuance.
Eligibility: Welcome benefits are available only upon payment of the joining fee.
Annual Fee Waiver
Spend-Based Waiver: Get the annual fee waived by spending Rs. 50,000 or more in the anniversary year.
Rewards Program
Fuel Spends: Earn 24 reward points (4% back) on every Rs. 150 spent at IndianOil fuel stations, with a cap of 1200 points per month.
Dining & Groceries: Earn 12 reward points (2% back) per Rs. 150 spent on dining and groceries, capped at 800 points per month.
Other Spends: Earn 3 reward points (0.5% back) on all other spends with no monthly cap.
Exclusions: No reward points on prepaid payments, wallet reloads, government transactions, education, and rental payments.
Reward Redemption
Cashback Option: Redeem your reward points as cashback at a rate of 1 RP = Rs. 0.25 (minimum 300 points).
Kotak Rewards Portal: Redeem reward points for merchandise, vouchers, and more at kotakrewards.com.
Convert to XTRAREWARDS: Convert 300 Kotak reward points to 250 XTRAREWARDS points, which can be redeemed for fuel at IndianOil outlets (1 XTRAREWARDS point = Rs. 0.30).
Fuel Surcharge Waiver
1% Waiver: Get a 1% fuel surcharge waiver on transactions between Rs. 100 and Rs. 5,000, capped at Rs. 100 per month.
Insurance Benefits
Personal Accident Coverage: Enjoy a personal accident insurance cover worth Rs. 2 Lakhs.
Concierge Services
24/7 Assistance: Access personal concierge services for reservations, gift deliveries, car rentals, and more by calling 1800-26-78729.
Finance & Forex Charges
Interest Rate: 3.5% per month (42% per annum).
Foreign Currency Markup: 3.5% on international transactions.
Cash Advance Fee: Rs. 300 per Rs. 10,000 withdrawal.
Summary
The IndianOil Kotak Credit Card, launched by Kotak Mahindra Bank in partnership with Indian Oil, is an entry-level fuel card designed for individuals who frequently refuel their vehicles at IndianOil stations. With a joining fee of Rs. 449, this card offers up to 60 liters of free fuel annually and provides rewards on fuel, groceries, and dining. Cardholders earn 24 reward points per Rs. 150 spent on fuel, 12 points on groceries and dining, and 3 points on other spends. The card also includes a 1% fuel surcharge waiver on transactions between Rs. 100 and Rs. 5,000 and offers concierge services for various personal assistance needs. Reward points can be redeemed for cashback, merchandise, or converted into IndianOil XTRAREWARDS points. Additionally, cardholders receive insurance coverage of Rs. 2 lakhs for personal accidents. With an annual fee waiver on spending Rs. 50,000 in a year and features like contactless payments and a foreign currency markup fee of 3.5%, the IndianOil Kotak Credit Card is ideal for individuals new to credit who want a fuel-focused card with versatile rewards.