The Axis Bank Indian Oil RuPay Credit Card is a specialized offering targeting fuel spenders who want to save on their daily commutes. This card is designed to provide substantial savings on fuel purchases at Indian Oil outlets, making it a practical choice for frequent drivers. Additionally, it offers benefits on other everyday expenses, including shopping and dining. Positioned as an entry-level credit card, it comes with a nominal fee, making it accessible to a wide range of users. In this review, we’ll explore the card’s features, fees, benefits, and more to help you determine if it’s the right fit for your fuel needs.
Overview
| Feature | Details |
|---|---|
| Card Type | Fuel Credit Card |
| Reward Rate | 4% cashback on fuel spends at Indian Oil, 1% on others |
| Reward Value | ₹1 cashback per ₹25 spent on fuel |
| Joining Fee | ₹500 + GST (waived on spending ₹50,000 annually) |
| Unique Selling Points | 4% cashback on fuel, low annual fee, contactless payments |
| Rating | ★★★★☆ (4.2/5) |
Axis Bank Indian Oil RuPay Credit Card Fees and Charges
| Fee Type | Details |
|---|---|
| Joining Fee | ₹500 + GST (waived on spending ₹50,000 annually) |
| Annual Fee | ₹500 + GST (waived on spending ₹50,000 annually) |
| Finance Charges | 3.6% per month (43.2% per annum) |
| Foreign Transaction Fee | 3.5% + GST |
| Cash Advance Fee | 2.5% of the amount withdrawn (min ₹500) |
| Late Payment Fee | ₹300 to ₹1,000 depending on the outstanding balance |
| Fuel Surcharge Waiver | 1% on transactions between ₹400 and ₹4,000 |
Axis Bank Indian Oil RuPay Credit Card Benefits
Welcome Benefits
- Fuel Cashback: Get 4% cashback on fuel spends at Indian Oil outlets from the moment you activate the card.
- Low Joining Fee: With an affordable joining fee, this card is accessible for budget-conscious users.
Fuel Benefits
- 4% Cashback on Fuel: Earn 4% cashback on all fuel purchases at Indian Oil outlets, providing substantial savings on your fuel expenses.
- Fuel Surcharge Waiver: Save even more with a 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000.
Milestone Benefits
| Milestone | Reward |
|---|---|
| Spend ₹50,000 in a year | Waiver of the annual fee for the next year |
| Spend ₹1 Lakh in a year | Additional cashback on fuel spends |
Rewards
| Spending Category | Cashback Earned |
|---|---|
| Fuel Purchases (Indian Oil) | 4% cashback on spends between ₹400 and ₹4,000 |
| Other Purchases | 1% cashback on all other spends |
| Contactless Payments | Earn cashback on contactless payments at partnered merchants |
Redemption
Likewise Cashback Credit Cards the Cashback earned on this card is automatically credited to your statement, reducing your outstanding balance. There are no cumbersome redemption processes, making it simple and straightforward.
Gift Vouchers Available
| Voucher Type | Redemption Value |
|---|---|
| Fuel Vouchers (Indian Oil) | Cashback directly credited, no voucher required |
| Shopping Vouchers | Not available |
| Dining Vouchers | Not available |
Airport Lounge Access
| Lounge Access | Details |
|---|---|
| Domestic Lounge Access | Not available |
| International Lounge Access | Not available |
| Annual Limit | N/A |
Airport Transfers
The Axis Bank Indian Oil RuPay Credit Card does not offer complimentary airport transfers, focusing instead on fuel and everyday spend benefits.
Forex Markup Fee
| Feature | Details |
|---|---|
| Forex Markup Fee | 3.5% + GST |
| Reward Rate for International Spends | No rewards on international spends |
Eligibility
- Age: 18 to 70 years.
- Income: Minimum annual income of ₹2.5 lakh.
- Employment: Available to salaried and self-employed individuals.
How to Apply?
Online Application
- Visit the official Axis Bank credit card page.
- Select “Axis Bank Indian Oil RuPay Credit Card.”
- Fill in the required personal and financial details.
- Upload the necessary documents and submit your application.
- Await verification and approval.
Offline Application
- Visit the nearest Axis Bank branch.
- Request an application form for the Axis Bank Indian Oil RuPay Credit Card.
- Fill out the form and submit it along with required documents.
- Await verification and approval.
Axis Bank Indian Oil RuPay Credit Card Review
Editor’s Rating
Summary
The Axis Bank Indian Oil RuPay Credit Card is a practical choice for individuals who spend significantly on fuel. With a 4% cashback on fuel purchases at Indian Oil outlets, the card provides tangible savings on your daily commute. The low annual fee, coupled with the fee waiver on achieving milestone spends, makes it an affordable option. However, the card’s benefits are mostly centered around fuel, with limited perks on other spends or travel-related benefits. It’s an ideal card for those looking to maximize savings on fuel without the frills of a premium credit card.
Pros and Cons
| Pros | Cons |
|---|---|
| 4% cashback on fuel purchases at Indian Oil outlets | Limited rewards on non-fuel spends |
| Low annual fee with the possibility of a waiver | No airport lounge access or travel perks |
| Contactless payment option with RuPay benefits | High finance charges on outstanding balances |
| 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 | No rewards or benefits on international spends |
Comparison with Similar Cards
| Feature | Axis Bank Indian Oil RuPay Credit Card | HDFC Bharat Credit Card | SBI BPCL Octane Credit Card |
|---|---|---|---|
| Annual Fee | ₹500 + GST (waived on spending ₹50,000 annually) | ₹500 + GST (waived on spending ₹20,000 annually) | ₹1,499 + GST (waived on spending ₹3 lakh annually) |
| Reward Rate | 4% cashback on fuel, 1% on others | 5% cashback on fuel, groceries, bill payments | 6.25% value back on fuel spends at BPCL, 0.25% on others |
| Lounge Access | None | None | 6 Domestic Lounge Access annually |
| Milestone Benefits | ₹50,000 spend waives annual fee, ₹1 lakh earns extra cashback | ₹20,000 spend waives annual fee | Spend ₹3 lakh to get annual fee waiver and 6.25% value back |
| Forex Markup Fee | 3.5% + GST | 3.5% + GST | 3.5% + GST |
HDFC Bharat Credit Card Comparison
The HDFC Bharat Credit Card offers a slightly higher cashback rate on fuel, groceries, and bill payments, making it a more versatile option for those who want rewards beyond just fuel. However, the Axis Bank Indian Oil RuPay Credit Card offers a similar fee structure and milestones but with a strong focus on fuel rewards. Choose the HDFC Bharat if your spending is spread across different categories; go with Axis Bank for concentrated fuel savings.
SBI BPCL Octane Credit Card Comparison
The SBI BPCL Octane Credit Card is designed for users who frequently refuel at BPCL outlets. It offers a higher value back on fuel spends, making it an excellent option for BPCL loyalists. However, the higher annual fee is only justified if you hit the ₹3 lakh spend waiver milestone. The Axis Bank Indian Oil RuPay Credit Card, on the other hand, is a more affordable option with straightforward benefits, particularly suited for those who prefer Indian Oil.
FAQ
What is the annual fee for the Axis Bank Indian Oil RuPay Credit Card?
The annual fee is ₹500 + GST, which is waived on spending ₹50,000 annually.
How do I earn cashback on fuel with this card?
You earn 4% cashback on fuel spends at Indian Oil outlets for transactions between ₹400 and ₹4,000.
Does this card offer airport lounge access?
No, the Axis Bank Indian Oil RuPay Credit Card does not offer airport lounge access.
Are there milestone rewards available with this card?
Yes, if you spend ₹50,000 in a year, your next year’s annual fee is waived. Additional cashback is available at ₹1 lakh spends.
Can I use this card internationally?
Yes, you can use the card internationally, but it has a 3.5% + GST foreign transaction fee, and no rewards are earned on international spends.
For more details you can visit the official website.
