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Indian Oil Kotak Credit Card

Product Details
Credit Card Name : 

Indian Oil Kotak Credit Card

Bank Name :

Kotak Mahindra Bank

Type :

Fuel Credit Card

Interest Rate : 

Interest Rate: 3.5% per month, 42% per year

Eligibility :

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.

Indian Oil Kotak Credit Card
Pros
  • Welcome Benefit: Get 1000 Reward points as a welcome benefit on spending INR 500 within 30 days of card issuance.

  • Rewards: Cardholders can Save 4% as Reward Points on IndianOil Fuel Spends and can earn 24 Reward Points on every INR 150 spent. Cardholders also can save 2% back as Reward Points on Grocery and Dining spending and can earn 12 Reward Points on every INR 150 spent, and on all other spends,  cardholders can earn 3 Reward Points on every INR 150 spent.  1 RP = INR 0.25. Fuel Rewards Cashback Rate: 4%, Grocery and Dining cashback rate: 2%, and Cashback Rate for other spends: 0.5%. 

  • Insurance Benefit: Cardholders get a personal accident insurance cover of INR 2,00,000 on their IndianOil Kotak Credit Card.

Cons
  • No domestic/ international airport lounge access facility available. 

  • Only beneficial for Fuel transactions and spendings. 

  • Limited features and Benefits.

Pros & Cons
Welcome Benefits

Welcome Benefit: Get 1000 Reward points as a welcome benefit on spending INR 500 within 30 days of card issuance. 

Rewards System
  • Cardholders can Save 4% as Reward Points on IndianOil Fuel Spends and can earn 24 Reward Points on every INR 150 spent. 

  • Cardholders also can save 2% back as Reward Points on Grocery and Dining spending and can earn 12 Reward Points on every INR 150 spent, and on all other spends, and 

  • Cardholders can earn 3 Reward Points on every INR 150 spent.  

  • 1 RP = INR 0.25. 

  • Fuel Rewards Cashback Rate: 4%, Grocery and Dining cashback rate: 2%, and Cashback Rate for other spends: 0.5%. 

International Forex Markup

3.50%

Welcome Benefits and Reward System
Special Features

Save 4% as Reward Points on IndianOil Fuel Spends. Earn 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.

Benefits


  • Fuel cashback offers

  • Reward points on dining and grocery shopping

  • Personal Accident Insurance

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
Indian Oil Kotak Credit Card

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

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

Product Review
Fees & Charges
  • Joining Fee of INR 449 

  • Annual fee of INR 449 

  • Cash withdrawal charges 2.5% of amount withdrawn or Rs. 500 whichever is higher. 

  • 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/- 

  • Redemption Fee Rs. 99/- per redemption request. 

  • Bank Charges Cross Currency markup of 3.5% on the transaction value

Fuel Surcharge

1% fuel surcharge. Waiver of fuel surcharge upto INR 100 in each statement cycle.

Billing Cycle

30 Days

Fees & Charges
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