INDEPENDENT PUBLIC DIRECTORY: Eligo does not issue credit cards, collect customer applications, or earn affiliate referral commissions. All terms, fees, and interest charges below are sourced directly from the official kotak.com (Kotak Mahindra Bank) Most Important Terms and Conditions (MITC).

🏛️Kotak Mahindra Bank Ltd.Network: RuPayFuel CardsLast Verified: 2026-09-28

IndianOil Kotak Credit Card

इंडियनऑयल कोटक क्रेडिट कार्ड

Fuel co-brand RuPay card offering 4% back as points at IndianOil petrol pumps, 2% on dining & grocery, and UPI QR payment support.

Annual Fee₹449 + GST (Renewal: ₹449 + GST)

Reward Rate4% back as Reward Points (24 Reward Points per ₹150 spent) on fuel purchases at IndianOil petrol pumps across India (capped at 1,200 points per month). 2% back on grocery and dining (12 points per ₹150, capped at 800 points/mo). 3 Reward Points per ₹150 on other retail.

Airport LoungeNo complimentary airport lounge access is included on this fuel card.

Forex Markup3.50% + GST on foreign currency transactions.

What Is This Card

IndianOil Kotak Credit Card is a fuel savings RuPay card developed for two-wheeler commuters and car owners refuelling at IndianOil (IOCL) stations. It offers 4% value back in reward points on fuel, 2% back on groceries and dining, a 1% surcharge waiver, and UPI scan-and-pay support.

Key Benefits (Official MITC Sourced)

💳Annual Fee & Joining Fee

₹449 + GST (Renewal: ₹449 + GST)

Fee Waiver: Spend ₹50,000 or more in each preceding anniversary year to get the annual renewal fee of ₹449 waived.

🎁Welcome Benefit

1,000 Reward Points (worth ₹250) credited upon spending ₹500 within the first 30 days of card issuance.

⚡Reward Points Structure

4% back as Reward Points (24 Reward Points per ₹150 spent) on fuel purchases at IndianOil petrol pumps across India (capped at 1,200 points per month). 2% back on grocery and dining (12 points per ₹150, capped at 800 points/mo). 3 Reward Points per ₹150 on other retail.

Redemption Value: 1 Reward Point = ₹0.25 against fuel vouchers or statement credit.

🛫Airport & Railway Lounge Access

No complimentary airport lounge access is included on this fuel card.

🛡️Insurance & Fuel Surcharge Waiver

Insurance Cover: Personal accidental death cover of ₹2 Lakhs under RuPay insurance scheme.

Fuel Surcharge: 1% fuel surcharge waiver across all fuel stations in India on transaction amounts between ₹500 and ₹3,000 (maximum waiver of ₹100 per statement cycle).

🎯Milestone Spends & Grace Period

Milestones: Annual fee reversal on ₹50,000 annual spend. RuPay variant enables seamless QR code payment over UPI at petrol pumps.

Interest-Free Period: Up to 48 days of interest-free credit from transaction date.

What's Missing (Eligo's Honest Disclosures)

Fine-Print Exclusions & Realistic Costs

Fuel accelerated points are capped at 1,200 points per month (maximum spend ₹7,500/mo). Must be swiped on Kotak POS terminals at IOCL pumps. No airport lounge access.

Forex Markup Fee3.50% + GST on foreign currency transactions.

Cash Advance Fee₹300 flat per ATM cash withdrawal + 3.50% monthly finance charges.

Finance Charges (Interest)3.50% per month (42.00% per annum) on revolving balances.

Late Payment SlabsNil for outstanding up to ₹500; ₹500 for ₹501–₹1,000; ₹600 for ₹1,001–₹5,000; ₹700 for ₹5,001–₹10,000; ₹800 for ₹10,001–₹25,000; ₹1,000 for ₹25,001–₹50,000; ₹1,200 for above ₹50,000 (+ GST).

Reward Points ExpiryReward points expire 2 years (24 months) from the date of accrual.

Categories Earning ZERO Rewards (Standard MITC Exclusion):Fuel transactions at non-IOCL pumps, wallet top-ups, rent payments, educational institutional fees, and government tax payments.

Eligibility Criteria

Salaried Indian individuals aged 21 to 65 with monthly salary exceeding ₹20,000. Self-employed individuals aged 21 to 65 with annual ITR exceeding ₹3,00,000.

Age Requirement21 to 65 Years

Minimum Income₹20,000/month (Salaried) / ₹3,00,000/year ITR (Self-Employed)

CIBIL Score NoteA credit score of 720+ is standard.

SBI RelationshipNot mandatory. Open to all qualifying Indian citizens.

How to Apply (Official Procedure)

Online Digital Application Flow

1Visit kotak.com/cards or open Kotak Mobile app.

2Enter PAN and mobile number for instant eligibility check.

3Select IndianOil Kotak Credit Card (RuPay variant).

4Enter employer details and monthly salary.

5Complete online Video KYC session with bank official.

6Card is approved and dispatched via courier within 3 to 5 business days.

Branch Application for Offline Applicants

Apply at any Kotak Mahindra Bank branch by submitting self-attested copies of PAN, Aadhaar, salary slip, and a passport-size photo.

Visit Official Card Page (kotak.com)Download Official MITC (PDF)

Documents Required

1. PAN Card (statutory requirement)

2. Proof of Identity & Residence: Aadhaar Card, Passport, or Voter ID

3. Proof of Income: Last 3 months' salary slips with bank statement OR Latest ITR with Computation Sheet

4. Passport-size photograph.

Frequently Asked Questions (Official MITC)

What happens if I miss the minimum payment due on IndianOil Kotak Credit Card?

If you do not pay at least the Minimum Amount Due (MAD) on or before the due date, late payment penalties will be charged according to the issuer's tariff: Nil for outstanding up to ₹500; ₹500 for ₹501–₹1,000; ₹600 for ₹1,001–₹5,000; ₹700 for ₹5,001–₹10,000; ₹800 for ₹10,001–₹25,000; ₹1,000 for ₹25,001–₹50,000; ₹1,200 for above ₹50,000 (+ GST).. In addition, revolving finance charges at 3.50% per month (42.00% per annum) on revolving balances. will be calculated from the original transaction dates on all outstanding balances and fresh purchases. You will lose the interest-free grace window, and the overdue record will be transmitted to credit bureaus (CIBIL, Experian, CRIF High Mark), adversely impacting your credit score.

Can I convert transactions on IndianOil Kotak Credit Card into EMI?

Yes, Kotak Mahindra Bank Ltd. provides merchant EMI and post-purchase in-app EMI conversion options for eligible transactions (typically above ₹1,500 to ₹2,500). Cardholders can configure repayment schedules from 3 to 24 months via the bank's mobile application, net banking dashboard, or SMS prompt. Conversion is subject to a nominal one-time processing fee (usually 1% to 2% + 18% GST) and tenure-based interest charges.

How do I track and redeem reward points or cashback on IndianOil Kotak Credit Card?

You can monitor accrued reward points or cashback by accessing your monthly e-statements or logging into Kotak Mahindra Bank Ltd.'s official mobile banking application or web portal. 1 Reward Point = ₹0.25 against fuel vouchers or statement credit. Please note: Reward points expire 2 years (24 months) from the date of accrual.

What is the interest-free grace period on IndianOil Kotak Credit Card and how does it work?

The interest-free period on IndianOil Kotak Credit Card is Up to 48 days of interest-free credit from transaction date.. This benefit is applicable strictly when the full Total Amount Due from the previous billing cycle was cleared by the payment due date. If any residual balance is carried forward, all purchases immediately incur daily finance charges (3.50% per month (42.00% per annum) on revolving balances.) with zero grace period. ATM cash withdrawals never receive a grace period and incur interest and cash advance fees from the withdrawal timestamp.

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