Card Details
IndianOil Kotak Credit Card
Monzy Score
8/ 10
Very good for high fuel spenders.
Lifetime free, so no fee to earn back; strong ~6% back in its core category; thin rewards outside its core category.
Card Issuer
Kotak Mahindra Bank
Joining Fee
₹449
Annual Fee
₹449
Reward Type
Reward Points
Card Access
Standard
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Electronics Deals · till 30 Sep 2026
Earn Points
24 pts/₹150 (~4%)
on Indianoil Fuel (max ₹300/Mo)
12 pts/₹150 (~2%)
Dining & grocery spends (shared cap 800 RP ≈ ₹10,000/month)
3 pts/₹150 (~0.5%)
Other purchases
3 RP/₹150
All other spends (0.5% back as points)
Benefits
4% rewards on IndianOil fuel
- Best value on IndianOil fuel spends
- Earn 24 reward points on every ₹150 spent at IndianOil (≈4% back)
- Fuel rewards capped at 1,200 reward points per month
- 1% fuel surcharge waiver up to ₹100 per statement cycle
- Only valid at IndianOil pumps
- Accelerated rewards stop after the monthly cap
₹449 fee waived with ₹50k annual spends
- Easy spend-based fee waiver
- ₹449 + taxes joining and annual fee
- Fee reversed on ₹50,000 annual spends
- No waiver if you miss the spend target
Reward Calculator
NOTE: Enter your monthly spends to see
projected returns.
Estimated Returns
Fuel at IndianOil outlets
24 RP per Rs.150 at IndianOil; capped 1200 RP/statement cycle (=Rs.300 @0.25); ~4% via points + 1% fuel surcharge waiver = up to 5% value back
₹300
Groceries & Dining
12 RP per Rs.150; capped 800 RP/statement cycle (=Rs.200); ~2% value
₹200
All other spends
3 RP per Rs.150; ~0.5% value. 1 RP=Rs.0.25 via Kotak portal (Rs.0.20 as statement cashback)
₹63
Total Annual Return
₹6,750
1.88% Effective ROIWhat Users Are Saying
Community Feed
Mar 2026
“Kotak IOCL RuPay Credit Card – No Fuel Rewards via UPI”
by r/CreditCardsIndia, Mar 2026
“Kotak IndianOil Card transparency issue regarding eligible”
by r/CreditCardsIndia, May 2026
“💳 How to get LTF Kotak Credit Cards by Tweaking”
by r/CreditCardsIndia, Sep 2025
“Which indian oil credit card is most rewarding???”
by r/IndianCreditCards, Nov 2025
“Kotak IOC Credit Card rewards redemption?”
by r/CreditCardsIndia, Jul 2024
Frequently Asked Questions
The IndianOil Kotak Credit Card is a lifetime free card, so there is no joining fee and no renewal fee to recover. Everything you earn on it is net gain, which also means the only thing worth watching is the reward caps and the excluded categories. Check that the card still has no fee on your welcome letter, because Kotak Mahindra Bank prices some variants differently.
Things to Keep in Mind
Fuel rewards capped at 1,200 reward points per month; dining and grocery rewards capped at 800 reward points per month.
Maximum 200 reward points per month on grocery & dining spends.
Welcome benefit requires realization of joining fee and a single ₹500+ transaction within 30 days
Fuel surcharge waiver not applicable on UPI transactions
