Axis
Axis IOCL Credit Card
This is an invite only card
Apply and get ₹1750 Rewards
Top Benefits
Earn 4% Value Back on Fuel Transactions at IOCL
outlets by earning 20 EDGE REWARD points per ₹100 on settlement amounts of ₹400 to ₹4,000, up to ₹5,000 spends per calendar month
Get Welcome Rewards on the First Fuel Transaction
within 30 days of card issuance by earning 5 EDGE REWARD points per ₹1 spent, capped at 1,250 EDGE REWARD points on spends up to ₹250 and valid only once on the primary card
Best For
Fuel
Shopping
The Axis IOCL (IndianOil) Credit Card is a co-branded fuel card designed in partnership with IndianOil,...
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The Axis IOCL (IndianOil) Credit Card is a co-branded fuel card designed in partnership with IndianOil,...
The Axis IOCL (IndianOil) Credit Card is a co-branded fuel card designed in partnership with IndianOil, offering significant value back on fuel purchases at IndianOil outlets. The card earns 20 EDGE Reward Points per ₹100 spent on fuel at IndianOil stations — equivalent to a 4% value back — making it one of the highest fuel reward rates available on an Indian credit card.
With a ₹500 joining fee and ₹500 annual fee (waived on ₹3.5 lakh annual spend), and 1,250 EDGE Reward Points as a welcome gift on qualifying conditions, this card is built for regular IndianOil fuel users who spend ₹5,000 or more on fuel every month. The estimated annual saving is ₹4,800.
Available to both salaried and self-employed professionals aged 21-60 earning a minimum of ₹3 LPA (salaried) or ₹4 LPA (self-employed), with a CIBIL score of 725.
View FAQ
Commonly Asked Questions
What is the fuel reward rate on the Axis IOCL card?
You earn 20 EDGE Reward Points per ₹100 spent on fuel at IndianOil outlets. Each EDGE Reward Point is worth ₹0.20, giving you a 4% value back on IndianOil fuel purchases — one of the highest fuel reward rates in India.
Is the annual fee waivable?
Yes. The ₹500 annual fee is waived if you spend ₹3.5 lakh or more in a year on your card. That's approximately ₹29,167 per month in total card spend.
Expert Review
The Axis IOCL Credit Card is the right card for dedicated IndianOil users who fill up regularly at IndianOil stations. A 4% value back on fuel is genuinely strong — most fuel cards in India offer 2-3%. Combined with the 1% surcharge waiver and IndianOil's own loyalty program, the total value back can approach 5-6% for active XTRAREWARDS members.
The main limitation is the ₹3.5L annual spend waiver — much higher than the ₹50K threshold on competing fuel cards like HDFC Indian Oil. For lower spenders, the ₹500 annual fee must be justified purely by fuel reward earnings. At ₹3,000/month in IndianOil fuel spend (₹120 in reward value), you'd need to factor in the ₹500 fee over 12 months to assess net value.
Verdict: An excellent fuel card for high-spending IndianOil loyalists. For occasional drivers or those who split fuel purchases across different petrol companies, the HDFC Indian Oil card's lower fee waiver threshold makes more practical sense.
Joining / Annual Fee
Joining Fees
₹590 ( ₹500 + GST )
Annual Fees
₹590 ( ₹500 + GST )
Joining fee: ₹500. Annual fee: ₹500, waived on ₹3.5 lakh annual spend. Welcome benefit: 1,250 EDGE Rewa...
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Joining fee: ₹500. Annual fee: ₹500, waived on ₹3.5 lakh annual spend. Welcome benefit: 1,250 EDGE Rewa...
Joining fee: ₹500. Annual fee: ₹500, waived on ₹3.5 lakh annual spend. Welcome benefit: 1,250 EDGE Reward Points worth ₹250 (at ₹0.20/point). At ₹5,000/month in IndianOil fuel spend alone (earning ₹200/month = ₹2,400/year), the card's fuel rewards more than cover the ₹500 annual fee without needing the waiver.
View FAQ
Commonly Asked Questions
What is the monthly interest rate?
The monthly interest rate is 3.75%, which translates to 45% per annum. On a ₹10,000 outstanding balance, you'd pay ₹375 per month in interest. Always pay the full bill on time.
What is the ATM cash withdrawal fee?
Cash advances attract a 2.5% fee on the withdrawn amount. Interest starts accruing immediately.
What is the reward redemption fee?
A ₹99 plus GST handling fee applies per EDGE Reward Point redemption request. Accumulate a meaningful balance before redeeming to keep the fee proportional.
What are the late payment charges?
Late payment fees are: ₹0 for balances up to ₹100, ₹400 for ₹101-₹500, ₹500 for ₹501-₹5,000, ₹750 for ₹5,001-₹10,000, and ₹950 for balances above ₹10,000.
Eligibility
Age
Criteria*
21-60 years
Salary
Criteria*
3LPA
Credit
Rating*
725+
New to credit
allowed
Yes
Existing Bank
Customer Allowed
Yes
Minimum Age: 21 years
Maximum Age: 60 years
Minimum Income (Salaried): ₹3 LPA
Minimum Inco...
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Minimum Age: 21 years Maximum Age: 60 years Minimum Income (Salaried): ₹3 LPA Minimum Inco...
- Minimum Age: 21 years
- Maximum Age: 60 years
- Minimum Income (Salaried): ₹3 LPA
- Minimum Income (Self-Employed): ₹4 LPA
- Minimum CIBIL Score: 725
- Employment Type: Both salaried and self-employed
View FAQ
Commonly Asked Questions
What is the minimum income for Axis IOCL card?
Salaried applicants need ₹3 LPA and self-employed applicants need ₹4 LPA minimum annual income.
What CIBIL score is required?
A minimum CIBIL score of 725 is required for both salaried and self-employed applicants.
All Card Benefits
- 1 EDGE REWARD per ₹100 spent (1% value back)
- 4% value back on IOCL fuel spends (capped at ₹5000/month)
- 1% value back on online shopping (5 EDGE REWARD per ₹100, max ₹5000 spends/month)
- 10% off movie tickets (₹100/month cap)
- Up to 15% discount on travel bookings (Wednesday offers)
Welcome Benefits
Receive 1,250 EDGE Reward Points on card activation after meeting qualifying condit...
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Welcome Benefits Receive 1,250 EDGE Reward Points on card activation after meeting qualifying condit...
Welcome Benefits
Receive 1,250 EDGE Reward Points on card activation after meeting qualifying conditions. At ₹0.20 per point, that's ₹250 in reward value — partially offsetting the ₹500 joining fee. Make sure you meet the qualifying spend conditions specified by Axis Bank to trigger the welcome benefit.
4% Value Back on IndianOil Fuel
The card's headline benefit is 20 EDGE Reward Points per ₹100 at IndianOil fuel outlets. At ₹0.20 per point, this is a 4% value return on every rupee spent on fuel at IndianOil. For example, filling fuel worth ₹5,000 at an IndianOil station earns 1,000 EDGE Reward Points (₹200 in value). At ₹5,000/month in IndianOil fuel, that's ₹2,400 per year from fuel rewards alone — well above the annual fee even without the waiver.
1% Fuel Surcharge Waiver
Get a 1% fuel surcharge waiver at all fuel stations (not just IndianOil), capped at ₹400 per month on transactions between ₹400 and ₹5,000. This benefit stacks on top of the 4% reward earning at IndianOil outlets, making IndianOil fuel transactions doubly rewarding. At non-IndianOil stations, you at least save on the surcharge.
5% Value Back on IndianOil XTRAPOWER and XTRAREWARDS
In addition to the card reward earning, IndianOil's loyalty programs (XTRAPOWER for fleet customers and XTRAREWARDS for retail customers) can stack additional benefits at IndianOil outlets. The combined value back can exceed 5% for active IndianOil loyalty members using this card.
View FAQ
Commonly Asked Questions
When are the 1,250 welcome EDGE Reward Points credited?
The 1,250 EDGE Reward Points are credited after meeting the qualifying conditions post card setup. The specific qualifying spend or activity is defined by Axis Bank. Check with Axis Bank or the card terms for the exact trigger conditions.
Does the 4% fuel reward apply to all IndianOil stations?
The 20 EDGE Reward Points per ₹100 (4% value back) applies to eligible fuel transactions at IndianOil fuel outlets. Confirm with Axis Bank whether all IndianOil-branded stations are included or if specific outlet types apply.
What is 1 EDGE Reward Point worth on this card?
On the Axis IOCL Credit Card, 1 EDGE Reward Point is worth ₹0.20. This differs from some other Axis cards where 1 point = ₹0.25. At ₹0.20 per point, 1,000 EDGE points = ₹200 in redemption value.
Does the 1% surcharge waiver apply at all petrol pumps?
Yes. The 1% fuel surcharge waiver applies at all fuel stations in India on transactions between ₹400 and ₹5,000, with a monthly cap of ₹400. At IndianOil outlets, you additionally earn 20 EDGE Reward Points per ₹100.
How do I link the XTRAREWARDS program to my Axis IOCL card?
You can link your IndianOil XTRAREWARDS membership to your Axis IOCL Credit Card at any IndianOil outlet or through the XTRAREWARDS app. Linking ensures your transactions earn both XTRAREWARDS points and Axis EDGE Reward Points simultaneously.
How to Redeem Rewards & Cashback?
Rewards Conversion Rate
1 reward point = ₹0.20
Redemption Options
- EDGE REWARDS by Axis Bank
To check redemption catalogue
EDGE Reward Points are redeemed through the Axis EDGE Rewards platform. Each point is worth ₹0.20. With...
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EDGE Reward Points are redeemed through the Axis EDGE Rewards platform. Each point is worth ₹0.20. With...
EDGE Reward Points are redeemed through the Axis EDGE Rewards platform. Each point is worth ₹0.20. With 5,000 EDGE points, you have ₹1,000 in redemption value. Options include travel bookings, vouchers, and merchandise. A ₹99 plus GST redemption fee applies per request, so batch your redemptions for maximum net value.
View FAQ
Commonly Asked Questions
Can I redeem EDGE Reward Points for fuel?
EDGE Reward Points are redeemable through the Axis EDGE Rewards portal for travel, vouchers, and merchandise. Check whether fuel-specific redemption at IndianOil outlets is available as a redemption option on the platform.
Gift card - Key Terms
Once you apply, we will start tracking your application
Generally takes 2-72 hrs
Once the bank confirms us of your successful card activation, we will process your rewards
Generally takes 7-75 days
You can then withdraw your rewards via Amazon Pay Balance/Flipkart gift cards
Generally takes 7-75 days
Note: If you currently hold or have ever held an Axis Credit Card, you are not eligible for CashKaro Rewards.
Rewards Related
- If you currently hold or have ever held an Axis Credit Card, you are not eligible for Gift Card
- A minimum transaction of Rs.100 within 30 days is mandatory to activate your card; otherwise, you wont be eligible for the Rewards
- Please use Aadhaar linked mobile number to fill the application
- If the distance between your residence and office addresses is 150 km or more, please ensure that your residence is selected as the mailing address. Applications not adhering to this will be rejected
- VKYC done over 50km from your Aadhaar/communication address will result in application rejection and loss of Rewards
Also, Remember
- Resume your application only via Great.Cards to avoid losing Rewards
- If your Rewards do not track, raise a Missing Rewards Ticket within 30 Days from the application date
- Rewards can only be redeemed as Amazon Pay Balance and Flipkart Gift Card
Bank Exclusions
You will not earn points / cashback on spends in the following categories
For Points / Cashback Earnings
All Reversals
Cancelled Transactions
Cash Advances
ATM Cash Withdrawals
Quasi-Cash Transactions
Money Transfers
P2P Transfers
Wallet Loads
Gift Cards and Vouchers
EMI Spends
Bank Charges & Fees
Late Payment Fees
Processing Fees
Financial Charges
Interest Charges
Payment Returned Charges
Service/Interest Charges
Transaction Charges
Education Spends
Fuel Surcharge
Toll Payments
Gambling Transactions
Lottery
Online Skill-Based Gaming
Government-related Transactions
Utility Bill Payments
Telecom
Taxes
Insurance Payments
Jewellery Purchases
Forex Transactions
Cryptocurrency/Digital Asset Transactions
Rent Payment
Transportation
Business Services
Contracted Services
Collection Agencies
Security Broker Services
Charity
Donations
Load Money
Liquid Assets
Outstanding Payments
Voucher Purchases
Miscellaneous
Donations to Religious Organizations
Donations to Political Organizations
For Spends Waiver
All Reversals
Cancelled Transactions
Cash Advances
ATM Cash Withdrawals
Quasi-Cash Transactions
Money Transfers
P2P Transfers
Wallet Loads
Gift Cards and Vouchers
EMI Spends
Bank Charges & Fees
Late Payment Fees
Processing Fees
Financial Charges
Interest Charges
Payment Returned Charges
Service/Interest Charges
Transaction Charges
Education Spends
Fuel Surcharge
Toll Payments
Gambling Transactions
Lottery
Online Skill-Based Gaming
Government-related Transactions
Utility Bill Payments
Telecom
Taxes
Insurance Payments
Jewellery Purchases
Forex Transactions
Cryptocurrency/Digital Asset Transactions
Rent Payment
Transportation
Business Services
Contracted Services
Collection Agencies
Security Broker Services
Charity
Donations
Load Money
Liquid Assets
Outstanding Payments
Voucher Purchases
Miscellaneous
Donations to Religious Organizations
Donations to Political Organizations
The following categories are excluded from EDGE Reward Point earning:
All Reversals and Cancelled ...
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The following categories are excluded from EDGE Reward Point earning: All Reversals and Cancelled ...
The following categories are excluded from EDGE Reward Point earning:
- All Reversals and Cancelled Transactions
- Cash Advances and ATM Cash Withdrawals
- Quasi-Cash Transactions and Money Transfers
- P2P Transfers and Wallet Loads
- Gift Cards and Vouchers
- EMI Spends
- Bank Charges, Fees, and Processing Fees
- Financial and Interest Charges
- Government-related Transactions
- Insurance Payments
- Rental Transactions
- Utility Bill Payments
- Jewellery Purchases
Note: Fuel at IndianOil stations earns at the 20 points per ₹100 accelerated rate despite being generally excluded from reward earning on most other categories. Fuel at non-IndianOil stations does not earn the 20-point rate but benefits from the 1% surcharge waiver.
View FAQ
Commonly Asked Questions
Do utility bill payments earn EDGE Reward Points?
No. Utility bill payments are in the exclusion list and do not earn EDGE Reward Points on the Axis IOCL Credit Card.
Do government transactions earn reward points?
No. Government-related transactions are excluded from reward earning on this card.
Bank Fee Structure
| Structure | Details |
|---|---|
Forex Markups  3.5% forex markup is charged on transactions made in currencies other than INR. Applies to international POS payments and online purchases charged in foreign currency. | 3.50% |
APR Fees 3.75% monthly fee. Credit cards allow you for a interest free payment period of 20-55 days. However, if you fail to make payment for your statement in due time then bank starts charging interest. A simple way to avoid heavy interest rates over long time is to convert your large spends in EMIs. Normally bank charges 16% p.a interest on EMIs however if you fail to pay in time then annual interest can reach upto 55.55% | 3.75% |
ATM withdrawal 2.5% of the withdrawn amount is charged on cash advances using the credit card (minimum ₹500, if applicable). | 2.50% |
Reward Redemption Fees A reward redemption handling fee of ₹99 plus applicable GST is charged per redemption request. | ₹99 |
Link for all T&Cs | Click Here |
Railway Surcharge A railway booking surcharge of 1.80% for online transactions and 2.50% for other bookings is applied, with additional bank charges and taxes recovered at actuals. | 1.80% |
Rent Payment Fees 2% of the transaction amount is charged as a fee on rent payment transactions, subject to applicable GST and platform charges | 2% |
cheque Payment Fees No cheque payment fee is charged | ₹0 |
Cash Payment Fees ₹100 plus applicable GST may be charged for cash payments made at branches towards credit card dues, as per bank policy | ₹100 |
| Late Payment Fees | Amount Due |
|---|---|
| ₹0 - ₹500 | ₹0 |
| ₹501 - ₹5000 | ₹500 |
| ₹5001 - ₹10000 | ₹750 |
| ₹10001- and above | ₹1200 |
Fee Type
Amount
Details
Joining Fee
₹...
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Fee Type Amount Details Joining Fee ₹...
| Fee Type | Amount | Details |
|---|---|---|
| Joining Fee | ₹500 | Partially offset by 1,250 welcome EDGE points worth ₹250 |
| Annual Fee | ₹500 | Waived on ₹3.5 lakh or more in annual card spend |
| Forex Markup | 3.5% | On international transactions. ₹10,000 = ₹350 fee. |
| Monthly Interest | 3.75% per month (45% p.a.) | On revolving unpaid balances. |
| ATM Cash Withdrawal | 2.5% | Interest starts immediately on cash advances. |
| Reward Redemption Fee | ₹99 + GST | Per EDGE Reward Point redemption request. |
| Railway Surcharge | 2% | On railway ticket transactions. |
| Rent Payment Fee | 1% | On rent transactions plus GST. |
| Cheque Payment Fee | ₹100 | For bill payments via cheque. |
| Cash Payment Fee | ₹100 | For cash bill payments. |
| Late Payment (₹0-₹100) | ₹0 | |
| Late Payment (₹101-₹500) | ₹400 | |
| Late Payment (₹501-₹5,000) | ₹500 | |
| Late Payment (₹5,001-₹10,000) | ₹750 | |
| Late Payment (above ₹10,000) | ₹950 |
View FAQ
Commonly Asked Questions
What is the interest-free period?
The interest-free period is 20 to 55 days. Pay the full outstanding balance by the due date to avoid the 3.75% monthly interest charge.
Is the 2% railway surcharge higher than other cards?
Yes. The Axis IOCL card charges a 2% railway surcharge on rail ticket transactions, which is higher than the IRCTC-prescribed rates on most other cards. Use a different card for railway bookings if you book frequently.
Documents Required
- Identity Proof: PAN Card (mandatory), Aadhaar Card
- Address Proof: Aadhaar Card, Passport, Voter ID, or Driving License
- Income Proof (Salaried): Latest 3 months salary slips or Form 16
- Income Proof (Self-Employed): Last 2 years IT returns, 6 months business bank statements
- Photograph: Passport-size photo
View FAQ
Commonly Asked Questions
Is PAN card mandatory?
Yes. PAN card is mandatory for all credit card applications in India.
Who Should Get This Card?
Get this card if:
- You fill fuel exclusively or primarily at IndianOil outlets and spend ₹3,000+ per month on fuel.
- You're enrolled in or plan to enroll in the IndianOil XTRAREWARDS loyalty program for stacked benefits.
- You earn ₹3 LPA+ (salaried) or ₹4 LPA+ (self-employed) with a 725+ CIBIL score.
- You can hit the ₹3.5L annual spend threshold to waive the ₹500 annual fee.
Skip this card if:
- You fill up at BPCL or HPCL outlets. The 4% reward rate applies only at IndianOil.
- You can't hit the ₹3.5L annual spend waiver. The threshold is high compared to competitor fuel cards.
- You want general lifestyle benefits beyond fuel. This is a focused fuel rewards card.
Credit Limit and What to Expect
With a minimum income of ₹3 LPA for salaried applicants, initial credit limits on the Axis IOCL card typically range from ₹50,000 to ₹2,00,000. Higher-income applicants with strong CIBIL scores receive higher starting limits, which is particularly useful for those with large monthly fuel spends.
View FAQ
Commonly Asked Questions
What credit limit should I expect for a ₹5,000/month fuel spend?
Your credit limit is determined by your total income and credit profile, not by your fuel spend. At ₹3 LPA income, initial limits start around ₹50,000-₹75,000, comfortably covering ₹5,000 in monthly fuel charges.
How to Apply?
- Visit the BankKaro portal or Axis Bank website and select the Axis IOCL Credit Card.
- Fill in personal, income, and employment details.
- Upload KYC documents and complete Video KYC within 50 km of your Aadhaar address.
- Await approval and card dispatch within 7-10 business days.
- Make a minimum transaction of ₹100 within 30 days of card issuance to activate the card.
Documents Required: PAN Card, Aadhaar Card, latest 3 months salary slips (salaried) or 2 years IT returns (self-employed), 3-6 months bank statements, passport-size photograph.
View FAQ
Commonly Asked Questions
What is the minimum transaction required to activate the card?
A minimum transaction of ₹100 within 30 days of card issuance is required to activate the card and be eligible for rewards. Missing this makes you ineligible for rewards.
That’s the full story of this credit card
Like this card? Your apply button’s just there.
Top Benefits
Apply and get ₹1750 Rewards
Top Benefits
Earn 4% Value Back on Fuel Transactions at IOCL
outlets by earning 20 EDGE REWARD points per ₹100 on settlement amounts of ₹400 to ₹4,000, up to ₹5,000 spends per calendar month
Get Welcome Rewards on the First Fuel Transaction
within 30 days of card issuance by earning 5 EDGE REWARD points per ₹1 spent, capped at 1,250 EDGE REWARD points on spends up to ₹250 and valid only once on the primary card
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