The Indian Oil HDFC Bank Credit Card is a co-branded card issued by HDFC Bank in collaboration with IndianOil. The card is primarily focused on providing fuel-related rewards in the form of Fuel Points that can be redeemed at IndianOil petrol pumps. It is designed to maximize savings for those who frequently spend on fuel, offering the potential to earn up to 50 liters of free fuel annually through the points accumulated.
A standout feature of this card is that it’s powered by the RuPay network, which allows users to link it to UPI, adding flexibility for payments. Additionally, the card offers a complimentary membership to the IndianOil XTRAREWARDS Program (IXRP), where Fuel Points can be redeemed at a rate of 1 FP = ₹0.96, one of the best redemption rates available.
With a nominal joining fee of ₹500, this fee can be waived by spending ₹20,000 within the first 90 days of issuance, making it an attractive option for those who want to avoid upfront fees. Apart from fuel benefits, the cardholders can also redeem their Fuel Points against a variety of products, vouchers, and other categories, enhancing the card’s overall value.
This credit card competes directly with the IndianOil Axis Bank Credit Card, offering similar benefits, making both cards strong contenders in the fuel credit card category. For individuals looking to save on fuel expenses and enjoy additional benefits, the IndianOil HDFC Credit Card is a solid option.
Overview
| Feature | Details |
|---|---|
| Card Type | Fuel and Cashback Credit Card |
| Reward Rate | 5% cashback on fuel purchases at Indian Oil outlets |
| Reward Value | 1 reward point ≈ ₹0.20 |
| Annual Fee | ₹500 + GST (waived on spending ₹50,000 annually) |
| Unique Selling Points | High rewards on fuel, fuel surcharge waiver, cashback on grocery and utility bills |
| Rating (out of 5) | 4.5 |
Indian Oil HDFC Bank Credit Card Charges
| Fee Type | Details |
|---|---|
| Joining Fee | ₹500 + GST |
| Renewal Fee | ₹500 + GST (waived on spending ₹50,000 annually) |
| Finance Charges | 3.6% per month (43.2% per annum) |
| Late Payment Fee | ₹400 to ₹1,300 based on the outstanding balance |
| Foreign Transaction Fee | 3.5% + GST |
| Rent Payment | 1% fee using third-party apps like CRED, Paytm |
| Education | 1% fee using third-party apps |
| Utilities | No additional charges |
Indian Oil HDFC Bank Credit Card Benefits
This card provides various benefits:
- Fuel Surcharge Waiver: 1% fuel surcharge waiver on transactions between ₹400 to ₹5,000 at Indian Oil fuel stations.
- Interest-Free Credit: Up to 50 days of interest-free credit from the date of purchase.
- EMI Options: Convert big purchases into easy monthly installments.
Welcome Benefits
| Welcome Benefit | Details |
|---|---|
| Cashback Offer | ₹100 cashback on first fuel transaction |
Rewards
| Spend Category | Reward Rate |
|---|---|
| Fuel Purchases at Indian Oil | 5% cashback |
| Grocery and Utility Payments | 1.5% cashback |
| All Other Spends | 1 reward point per ₹150 spent |
| Reward Value | 1 point ≈ ₹0.20 |
| Rewards Expire in | 2 years |
Milestone Benefits
| Spending Milestone | Reward Earned |
|---|---|
| Annual Spend of ₹50,000 | Annual fee waiver |
Redemption
Reward points can be redeemed for:
- Fuel: Use points to pay for fuel at Indian Oil stations.
- Gift Vouchers: Redeem points for shopping vouchers from top brands.
- Cashback: Convert points into statement credit.
Gift Vouchers Available
| Category | Brands |
|---|---|
| Shopping | Amazon, Flipkart |
| Electronics | Croma |
| Travel | MakeMyTrip, Yatra |
| Dining | Zomato, Swiggy |
| Entertainment | BookMyShow |
Airport Lounge Access
| Access Type | Details |
|---|---|
| Domestic Lounges | Limited access available |
| International Lounges | Not available |
Forex Markup Fee
| Fee Type | Details |
|---|---|
| Forex Markup Fee | 3.5% + GST on all international transactions |
Indian Oil HDFC Bank Credit Card Eligibility
To apply for the Indian Oil HDFC Bank Credit Card, applicants must meet the following criteria:
- Age: 18 to 70 years
- Income: Stable income required
- Documents Required: Aadhar Card, PAN Card, proof of income (latest bank statements/salary slips, ITR), and residence proof.
Indian Oil HDFC Bank Credit Card Review
The Indian Oil HDFC Bank Credit Card is an excellent option for frequent fuel buyers who want to save more on their fuel expenses. With a 5% cashback rate on fuel purchases, a fuel surcharge waiver, and rewards on other categories, this card offers substantial value. The annual fee is relatively low and can be waived upon meeting spending criteria, making it a budget-friendly choice. The redemption options for reward points, including direct payment for fuel, add to the card’s convenience and practicality for everyday use.
Overall Rating: 4.5
- Benefits: 4.6
- Fees: 4.3
- Customer Service: 4.4
Pros and Cons
| Pros | Cons |
|---|---|
| High rewards on fuel purchases. | Limited airport lounge access. |
| Annual fee waiver on meeting spend criteria. | High foreign transaction fee. |
| Fuel surcharge waiver. | Lower rewards on non-fuel transactions. |
Similar Cards to Indian Oil HDFC Bank Credit Card
| Feature | Indian Oil HDFC Bank Credit Card | HPCL BoB ENERGIE Credit Card | BPCL SBI Card Octane |
|---|---|---|---|
| Annual Fee | ₹500 + GST | ₹499 + GST | ₹1,499 + GST |
| Lounge Access | Limited domestic access | Not available | Limited domestic access |
| Reward Rate | 5% cashback on fuel | Up to 24 points per ₹150 spent | 25 points per ₹100 spent at BPCL |
| Reward Value | 1 point ≈ ₹0.20 | 1 point ≈ ₹0.25 | 1 point ≈ ₹0.25 |
| Special Benefits | High rewards on fuel, fuel surcharge waiver | High rewards on fuel, dining, groceries | High rewards on fuel, milestone benefits |
Relevant Links
To help our readers navigate our website and find additional relevant content, here are some internal links you might find useful:
For more detailed information about HDFC Bank credit cards and other financial products, you can visit the official HDFC Bank website.
FAQ
What is the annual fee for the Indian Oil HDFC Bank Credit Card?
The annual fee is ₹500 + GST, which is waived upon spending ₹50,000 annually.
How can I earn reward points with the Indian Oil HDFC Bank Credit Card?
You can earn 5% cashback on fuel purchases at Indian Oil fuel stations.
How can I redeem the reward points earned with the Indian Oil HDFC Bank Credit Card?
Reward points can be redeemed for fuel, gift vouchers, or cashback.
Does the Indian Oil HDFC Bank Credit Card offer any fuel benefits?
Yes, the card offers a 1% fuel surcharge waiver on transactions between ₹400 to ₹5,000 at Indian Oil outlets.
What are the milestone benefits of the Indian Oil HDFC Bank Credit Card?
The card offers an annual fee waiver upon spending ₹50,000 in a year.
Is the Indian Oil HDFC Bank Credit Card worth it for frequent fuel buyers?
Absolutely. With high cashback rates, a fuel surcharge waiver, and low fees, this card provides excellent value for those who regularly spend on fuel.
