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IndianOil Axis Bank Credit Card

by Kshitiz V Sharma on

The Bottom Line

IndianOil Axis Bank Credit Card
Decent for Fuel, Otherwise Low Rewards

20 Rewards points / ₹100 on IOCL Fuel Outlet, 5 Rewards point on Online Shopping and 1 EDGE Rewards points on all other spends.

Monthly Spend ₹5K ₹10K ₹20K ₹50K ₹100K
Net Reward Yield 0.3% 0.3% 0.3% 0.4% 0.4%
Est. Monthly Reward (₹) 10 30 60 180 370
All-India Rewards Rank* 122 179 242 297 301
Within Bank Rank* 11 17 21 24 25
* Based on est. net reward yield for nearly 400 credit cards in India, for each monthly spending level. Read about how we calculate the net reward yield here.

The IndianOil Axis Bank Credit Card gives 4% effective reward on fuel transactions at Indian Oil fuel stations, 1% on online shopping and 0.20% on all other spending.

We estimate this card has a net reward yield of 0.3-0.4% on all spending with the card in a month, making it a below average card for Axis Customers. However, Axis Bank offers many credit cards that give you higher rewards than the IndianOil Card.

The ACE Credit Card is the best credit card from Axis Bank for nearly everyone. We estimate most people will get net reward yield of 2.3% using this card for all their spending.

Our list of the best credit cards in India, at every spending level and from every bank, is here. You can find a detailed discussion of our methodology here.


The Rewards

Card IndianOil Axis Bank Credit Card
Card Type Reward
Reward Features 20 Rewards points / ₹100 on IOCL Fuel Outlet

5 Rewards points / ₹100 on Online Shopping

1 EDGE Rewards points / ₹100 on all other spends

Milestone Rewards Nil
Other Rewards – 15% discount at all partner restaurants with Axis Bank Dining Delights

– 10% discount on movie tickets booked via BookMyShow app or website

Rewards Redemption Fee ₹99
Reward Caps Unlimited
Preferred Redemption Method Convert Fuel Points to IndianOil XTRAREWARDS Points (XRP) for buying Fuel @₹ 0.96 / Fuel Points

Fees & Charges

Card IndianOil Axis Bank Credit Card
Joining Fee ₹500 + Taxes
Annual Fee ₹500 + Taxes
2nd Year Onwards
Min. Annual Credit Card Spend
for Fee Waiver
₹50,000
Income Criteria Salaried N/A
Self-employed N/A
Supplementary Card Fee Free
Interest Rate 52.86% p.a.
Foreign Currency Markup 3.50%
Cash Advance Charge 2.50% with a minimum of ₹500
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