IndianOil Axis Bank Premium Credit Card
- Updated On: 2 April, 2026
The IndianOil Axis Premium Credit Card is the second card offered by the bank in partnership with IndianOil, the first being the less premium IndianOil Axis RuPay Credit Card. The IndianOil Axis Premium Credit Card provides a wide range of rewards and benefits, with a primary focus on fuel-related perks. Whether you’re seeking travel privileges or savings on daily expenses, this card has it all. Cardholders will earn accelerated 6X EDGE Miles on all fuel purchases at IndianOil outlets. Additionally, the card rewards grocery spending by offering 2X EDGE Miles on grocery and supermarket purchases of up to ₹5,000.
This card has a joining fee of ₹1,000, which can be easily waived by spending ₹30,000 a year. In addition to the fuel benefits, the card offers free airport lounge access, making travel more comfortable. Cardholders also receive discounts on food delivery through Zomato. All of these features make it a must-have, particularly for those who do not yet have a dedicated fuel credit card.
IndianOil Axis Bank Premium Credit Card
( 4.5 / 5 )
- Joining Fee
- Annual Fee
- Best Suited For
- Reward Type
Rewards Rate
6X EDGE Miles/₹150 at IndianOil Outlets. 2X EDGE Miles/₹150 on Grocery Spends. 1X EDGE Miles on All Other Eligible Spends
Welcome Benefits
500 EDGE Miles on the First Transaction Within 30 Days of Card Issuance
Rewards and Benefits
Movie & Dining
30% Instant Discount on Zomato. 25% Discount on Dining Via Eazydiner (Upto ₹800)
Rewards Rate
6X EDGE Miles/₹150 at IndianOil Outlets. 2X EDGE Miles/₹150 on Grocery Spends. 1X EDGE Miles on All Other Eligible Spends
Reward Redemption
EDGE Miles Can Be Redeemed for Fuel (1 EDGE Mile = ₹1). These Can Also Be Converted to Partner Points (1:1)
Travel
N/A
Domestic Lounge Access
2 Free Lounge Visits Each Quarter
International Lounge Access
N/A
Golf
N/A
Insurance Benefits
N/A
Fees & Charges
Spend-Based Waiver
Annual Fee Waiver on Spends of ₹1 Lakh or More
Rewards Redemption Fee
N/A
Foreign Currency Markup
3.5%
Interest Rates
3.75% Monthly (55.55% Annually)
Fuel Surcharge Waiver
1% Waiver on Fuel Transactions
Cash Advance Charges
2.5% (Minimum ₹500)
Product Details
- The IndianOil Axis Premium Credit Card is most suited for fuel expenses.
- This card offers spend-based airport lounge access.
- You can avail of a 30% discount on food orders with Zomato.
- Apart from fuel, this card also offers accelerated 2X EDGE Miles for grocery spends.
Pros/Cons
Pros
Even though this credit card is fuel-based, it offers numerous other benefits, such as free airport lounge access and discounts on food.
Cons
Although this card offers free airport lounge visits, it is bound by spend-based criteria. Those unable to spend ₹50,000 in the previous three months will not be eligible for complimentary airport lounge visits.
EDGE Miles Earning
- Earn 6X EDGE Miles for every ₹150 spent at IndianOil outlets across the country, with a maximum cap of 600 EDGE Miles. Once you spend ₹15,000 on fuel, you will earn EDGE Miles at the base rate of 1X.
- Get 2X EDGE Miles for every ₹150 spent on groceries and supermarkets, with a maximum of 33 EDGE Miles earned at this rate for spending up to ₹5,000.
- For all other eligible spends, earn 1 EDGE Mile for every ₹150 spent.
No EDGE Miles shall be earned for the following transactions: transportation and tolls, utilities, insurance, educational institutions, government institutions, wallets, and rent.
Axis EDGE Miles Redemption
IndianOil Axis Premium Cardholders shall earn rewards as EDGE Miles. These EDGE Miles can be easily converted to other partner hotels and airlines, redeemed at Axis Banks Travel Edge portal, or simply redeemed at IndianOil fuel hotels. One of the most rewarding conversions is offered when you convert EDGE Miles to IOCL Rewards, which provides a ratio of 3:10. All the other conversions and reward point value is given below.
| Category | Value |
| For Fuel at IndianOil Outlets | 1 EDGE Mile = ₹1 |
| Miles Transfer |
2 EDGE Mile = 1 Partner Point (Air France-KLM, Ethiopian Airlines, Etihad Airways, IHG Hotels & Resorts, Singapore Airlines, Turkish Airlines, United Airlines, Air India, ITC, SpiceJet, and AirAsia) 3 EDGE Miles = 10 XRPs (IOCL Rewards) |
|
Bookings on Travel Edge |
1 EDGE Mile = ₹0.20 |
Instant Discount on Zomato
Get an instant 30% discount on Zomato when paying with IndianOil Axis Bank Premium Credit Card. This offer is valid twice monthly on a minimum transaction of ₹200. The maximum discount one can get with this offer is capped at ₹150. This would allow cardholders to avail of a benefit worth ₹3,600 annually.
Complimentary Airport Lounge Access
Cardholders are eligible for up to 2 complimentary domestic airport lounge visits each quarter (8 visits annually). They can be eligible for this benefit by spending ₹50,000 or more in the previous three months.
Fuel Surcharge Waiver
The IndianOil Axis Bank Premium Credit Card offers an unlimited 1% fuel surcharge waiver for transactions made with Indian Oil outlets. Please remember that the GST charged along with the fuel surcharge, is non-refundable.
Comparison of Axis IndianOil Credit Cards
IndianOil recently introduced two variants of its credit card: the entry-level IndianOil card and the mid-level IndianOil Axis Premium Credit Card. For those interested in additional features and willing to pay a slightly higher fee, the IndianOil Premium Credit Card is a good option, while others can opt for the basic card. Both cards offer nice features, and the choice depends on individual needs.
Brief Review of IndianOil Axis Premium Credit Card
The IndianOil Axis Premium Credit Card is a fantastic option for those who frequently spend on fuel or those looking for their first fuel credit card. With a generous reward rate of 6X EDGE Miles per ₹150 spent at IndianOil outlets, it makes fueling up both economical and rewarding. The card also offers 2X EDGE Miles on grocery spending and 1X EDGE Miles on other eligible expenses, providing a well-rounded rewards program for everyday spending.
One of the standout features of this card is its complimentary airport lounge access. Cardholders can enjoy up to two free domestic lounge visits each quarter, making travel more comfortable. However, this benefit is tied to a spending criterion of ₹50,000 in the previous three months, which may be challenging for some users to meet since this card is primarily useful for fuel spending.
The 30% discount on Zomato twice a month adds significant value, making it easier to enjoy savings on food deliveries.
The IndianOil Axis Premium Credit Card is a great option for people who frequently purchase fuel and groceries and want to earn rewards and benefits. However, it’s important to be mindful of the limits on accelerated EDGE Miles earning with this card and keep track of your spending in order to maximize the benefits.
FAQs:
Is the IndianOil Axis Bank Premium Credit Card lifetime free?
No, the IndianOil Axis Premium Credit Card is not a lifetime-free card. But, the annual charges for this card from the second year can be waived by spending ₹1 lakh on a card anniversary year.
Do I get any welcome benefit with this card?
Yes, you get 500 EDGE Miles on making the first transaction within 30 days of card issuance.
To which partners can I convert my EDGE Miles?
You can convert your EDGE Miles earned with the IndianOil Axis Premium Credit Card to Air France-KLM, Ethiopian Airlines, Etihad Airways, IHGR Hotels & Resorts, Qatar Airways, Singapore Airlines, Turkish Airlines, United Airlines, Marriott International, Vistara, ITC, SpiceJet, and AirAsia in a 2:1 ratio. These are some of the most popular Axis Bank partners.
Are all transactions made with this card valid for the annual fee waiver calculation?
No, transactions made for rent, wallet, and insurance payments will not count towards the spend threshold for the annual fee waiver.
3 comments
Mohit
You will not get accelerated rewards for every Indian Oil fuel transaction but for the ones where fuel station is in AXIS BANK RULE MERCHANT BOOK. Now what all fuel station are there in Rule merchant book of Axis bank is the missing link here and it is available no where.
Kartik Kanwar
This is simply not true. It is clearly stated in the terms at any IOCL fuel station in India.
Shiva Raikod
Yes it is stated, but i might have fueled my vehicle at 4 different IOCL outlets and no where i received 6X edge miles and surcharge wavier was also not honored. Had complained to customer care and the revert was simple- “you had refueled at non IOCL fuel outlet” . I went ahead and complained to their nodal officer where this time i had even put the slips the transactions done at IOCL . Even then they didn’t nudge and now i have filed a case with RBI where they came down on their knees and then rewarded 6x edge miles and fuel surcharge was also reversed (I’m fighting for compensation for all neglecting my complaint at different levels and honoring only when I reached RBI). Do check before you apply as customer would not know which IOCL fuel outlet would give him 6x edge miles and surcharge wavier (there is even no list of IOCL outlets on their website and i think bank expects customer to check for Axis machine before swiping our card ) . Whatever as mentioned on their website as any IOCL outlet doesn’t hold true. Only thing i can say is safeguard yourself from people who impersonate themselves as Axis bank employees and lure you with higher reward points but here Axis bank itself lures with higher reward points by mentioning the same as the card’s USP on their website as customer can fuel up at any IOCL fuel outlet upto INR15,000 in a month to get 6X edge miles.