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Federal BankIndianOil HDFC credit card is a co-branded credit card issued by the HDFC Bank in collaboration with IndianOil. This card rewards you in the form of fuel points, which can be used for purchasing fuel at Indian Oil Petrol pumps. Axis Bank also offers a similar credit card named ‘IndianOil Axis Bank Credit Card‘ in partnership with the Indian Oil Corporation Limited, which can be considered a strong competitor to this card. You can get up to 50 liters of free fuel annually by purchasing the fuel with the fuel points you earn. Not only this you can also link this credit card to UPI as it is on the RuPay network.
You also get a complimentary membership to the IndianOil XTRAREWARDS Program (IXRP), which enables you to redeem the fuel points at a rate of 1 FP = Re. 0.96, which is a very good rate. You cannot only earn fuel points but also redeem your earned fuel points against products/vouchers and several other categories. This card comes with a nominal joining fee of Rs 500, which can be waived if you spend Rs 20,000 in the first 90 days of card issuance. Read below to know more about the IndianOil HDFC credit card.
IndianOil HDFC Bank Credit Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Fuel |
Reward Type
Reward Points
Welcome Benefits
Movie & Dining
N/A
Rewards Rate
5% of spends as Fuel Points at IndianOil outlets, groceries, and bill payments, 1 Fuel Point on every Rs. 150 spent on all other purchases, reward rate of up to 4.8%
Reward Redemption
Fuel Points redeemable for Free Fuel using the complimentary IndianOil XTRAREWARDS Program (IXRP) membership at IndianOil outlets (1 FP = 96 Paise), through net-banking towards catalog products (1 FP = 20 Paise) and as cashback on the credit card (1 FP = 20 Paise)
Travel
N/A
Golf
N/A
Domestic Lounge Access
N/A
International Lounge Access
N/A
Insurance Benefits
N/A
Zero Liability Protection
Zero liability of credit cardholders against any unauthorized transaction if the loss or theft is reported to the bank within 24 hours post-loss or theft.
Spend Based Waiver
The renewal fee will be waived on spends of Rs. 50,000
Rewards Redemption Fee
Rs 99 per redemption request
Rewards Redemption Fee
Rs 99 per redemption request
Foreign Currency Markup
3.5% of the amount transacted
Interest Rates
3.6% per month (or 43.2% per annum)
Fuel Surcharge
On a minimum fuel transaction of Rs. 400, you will get a fuel surcharge waiver of 1%.
Cash Advance Charges
2.5% of the amount withdrawn subject to a minimum charge of Rs 500.
Add-on Card Fee
Nil
- Complimentary IndianOil XTRAREWARDS Program membership.
- Renewal fee waiver on annual spends of Rs 50,000 and above in the previous year.
- 5% of spends as Fuel Points at IndianOil outlets, groceries, and bill payments.
- 1 Fuel Point on every Rs 150 spent on all other purchases.
- Up to 50 liters of free fuel annually using an IndianOil HDFC Bank credit card.
- A fuel surcharge of 1% is waived on all fuel transactions at all fuel stations across India.
IndianOil HDFC Credit Card Features and Benefits
The IndianOil HDFC Bank Credit Card is a fuel credit card issued by the bank in partnership with Indian Oil Corporation Limited. Other than fuel advantages, this card comes with an array of additional features and benefits, which are as mentioned below:
UPI
You can easily link your HDFC IndianOil Credit Card to a UPI application of your choice and make payments from your mobile phone.
Spend-Based Waiver
Get a renewal fee waiver on annual spends of Rs 50,000 or above in the previous year.
Fuel Surcharge Waiver
A 1% fuel surcharge is waived on all fuel transactions exceeding Rs. 400 at all fuel stations across India. You can get a maximum cashback of Rs 250/- per statement cycle.
IndianOil HDFC Bank Credit Card Reward Points
- The card earns you Reward Points as Fuel Points.
- You get up to 5% of your purchases as Fuel Points at IndianOil outlets, groceries, and bill payments (In the first 6 months, you can get a maximum of 250 Fuel Points per month and a maximum of 150 Fuel Points post 6 months from card issuance).
- Cardholders shall also earn 5% Fuel Points on grocery and utility bill payments. This is capped at 100 Fuel Points in each category.
- You get 1 Fuel Point on every Rs. 150/- spent on all other purchases.
- The fuel points last over a period of 2 years and expires thereafter.
- No Fuel Points shall be earned for wallet reloading, government transactions, EMI transactions, rental payments and gold purchases.
Reward Redemption
You can use the Reward Points accumulated against a host of redemption options under the IndianOil XTRAREWARDS Program (rate of redemption as per the table below)-
| Redemption Method | Value |
| IndianOil XTRAREWARDS Program (IXRP) | 1 Fuel Points = Rs 0.96 |
| Through Product Catalogue | 1 Fuel Point = Rs 0.20 |
| Against Statement Cash | 1 Fuel Points = Rs 0.20 |
Redemption against cashback and travel categories is capped at 50,000 Fuel Points per month.
IndianOil HDFC Bank Credit Card Eligibility Criteria
Credit card applicants have to meet the below-mentioned eligibility criteria in order to apply for the IndianOil HDFC Bank Credit Card:
| Salaried Employees | Self-Employed Individuals | |
| Age | 21 – 60 Years | 21 – 65 Years |
| Income | Minimum Rs. 1,20,000 Per Annum | Minimum Rs. 6,00,000 Per Annum (as per ITR) |
How to Apply for IndianOil HDFC Bank Credit Card?
To apply through offline mode, you have to visit the nearest bank branch, fill in the application form present in the branch, and attach the required documents. To apply online, you can follow the below-mentioned steps:
- Click on “Apply Now”
- Fill in your details such as name, PAN Card, etc.
- Submit your application.
- Wait for the approval of your application.
IndianOil HDFC Bank RuPay Credit Card
IndianOil HDFC Bank credit card is the best suited for individuals with high fuel spending. This card offers you accelerated 5% Fuel Points on spends at IndianOil outlets, utility bill payments, and grocery shopping. It provides you with multiple redemption options, including fuel purchases, shopping, and many more. With XTRAREWARDS Program (IXRP), you can get a reward rate of Rs 0.96 on your fuel spending, which is a really significant reward rate. Moreover, you can make this card absolutely free by getting the joining and renewal fee waived by spending Rs. 50,000 in a card anniversary year. What do you think about this credit card? Do let us know your comments.
1 Comment
I forgot my credit card pin number and how to recover it? Indian oil