Welcome Benefit: Users will get 1000 reward points as a welcome benefit on spending Rs 500 within 30 days of card issuance.
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Indianoil Kotak Credit Card
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Users will get 1000 reward points as a welcome benefit on spending Rs 500 within 30 days of card issuance.
Milestone Benefits
None.
Cashback Rate
Reward System: The value of 1 RP = INR 0.25.
User will earn 24 reward points on every INR 150 spent, fuel cashback rate: 4%. Cardholders also get 2% cash back on grocery and dining spending. 0.5% cashback on all othe spends (uncapped).
Movie Benefits
None.
Dining Benefits
2% back as reward points on grocery and dining spendings.
Other Benefits
Insurance Benefit: Cardholders get a personal accident insurance cover of INR 2,00,000 on their IndianOil Kotak Credit Card.
Lounge Access
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Users will get 1000 reward points as a welcome benefit on spending Rs 500 within 30 days of card issuance.
Milestone Benefits
None.
Cashback Rate
Reward System: The value of 1 RP = INR 0.25.
User will earn 24 reward points on every INR 150 spent, fuel cashback rate: 4%. Cardholders also get 2% cash back on grocery and dining spending. 0.5% cashback on all othe spends (uncapped).
Movie Benefits
None.
Dining Benefits
2% back as reward points on grocery and dining spendings.
Other Benefits
Insurance Benefit: Cardholders get a personal accident insurance cover of INR 2,00,000 on their IndianOil Kotak Credit Card.
Lounge Access
Fees & Charges
Joining Fee
of INR 449
Annual Fee
of INR 449
Cash Advance Fee
2.5% of amount withdrawn or Rs. 500 whichever is higher.�
Interest rate
Interest Rate: 3.5% per month, 42% per year
Late Payment Fee
Late payment charges - Upto ` 100- Rs. 0/- > ` 100 to `500- Rs. 100/- > ` 500 to `5,000- Rs. 500/- > ` 5,000 to `10,000- Rs. 600/- More than ` 10,000- Rs. 750/-
Foreign Currency Transactions Fee
3.5% on the transaction value
Other Fees
Cash withdrawal charges 2.5% of amount withdrawn or Rs. 500 whichever is higher. | Redemption Fee Rs. 99/- per redemption request. | Bank Charges Cross Currency markup of 3.5% on the transaction value
Fees & Charges
Joining Fee
of INR 449
Annual Fee
of INR 449
Cash Advance Fee
2.5% or ?500 whichever is higher
Interest rate
Interest Rate: 3.5% per month, 42% per year
Late Payment Fee
Late payment charges - Upto ` 100- Rs. 0/- > ` 100 to `500- Rs. 100/- > ` 500 to `5,000- Rs. 500/- > ` 5,000 to `10,000- Rs. 600/- More than ` 10,000- Rs. 750/-
Foreign Currency Transactions Fee
3.5% on the transaction value
Other Fees
Cash withdrawal charges 2.5% of amount withdrawn or Rs. 500 whichever is higher. | Redemption Fee Rs. 99/- per redemption request. | Bank Charges Cross Currency markup of 3.5% on the transaction value
Special Features
4% saving as reward points on IndianOil Fuel spends. 24 reward points on every INR 150 spent, capped at 1200 reward points per statement cycle.
Eligibility Criteria
Primary Credit Card holders should be in the age bracket of 18 years to 65 years and an Indian resident. Add-on Card holder should be 18 years and above.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Online Visit the Kotak Mahindra Bank website and click on the "Credit Cards" tab.
Select the "Indian Oil Kotak Credit Card" and click on the "Apply Now" button.
Fill in the application form with your personal and financial details.
Upload the required documents, such as your PAN card, Aadhar card, and income proof.
Review and submit your application.
The bank will review your application and get in touch with you if you are approved for the card.
Contact Details
1860 266 2666
Account Opening and Procedure
For those who love to travel with their vehicle and refuel it regularly, the IndianOil Kotak Bank credit card is a great choice. You get a nice welcome benefit and accelerated reward points on fuel spends at IndianOil outlets. The reward points can be redeemed as cashback on Kotak Rewards or converted to IndianOil XTRAREWARDS points. The card even offers insurance cover and concierge services to the cardholder. However, the maximum capping on reward points is a downside.
For those who love to travel with their vehicle and refuel it regularly, the IndianOil Kotak Bank credit card is a great choice. You get a nice welcome benefit and accelerated reward points on fuel spends at IndianOil outlets. The reward points can be redeemed as cashback on Kotak Rewards or converted to IndianOil XTRAREWARDS points. The card even offers insurance cover and concierge services to the cardholder. However, the maximum capping on reward points is a downside.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai