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Kotak IndianOil RuPay Credit Card Review

The IndianOil Kotak RuPay credit card is a leading fuel credit card that will help you save money on fuel every day. It saves up to 5% on IndianOil fuel transactions, 2% back as reward points on grocery and dining, and 0.5% back as reward points on other spends.

You can earn 24 reward points for every ₹150 spent on fuel, 12 reward points for every ₹150 spent on grocery and dining, and 3 reward points for every ₹150 spent on other expenses within 30 days of card activation. Such a multi-benefits credit card proves highly useful in a market where fuel prices keep rising.

Like most co-branded credit cards, the key advantage of Kotak IndianOil credit card also depends on how much and how frequently you spend on the partner brand outlets. In this case, they are IndianOil outlets. Therefore, the card is most beneficial for regular travellers who frequently refuel at IndianOil outlets. However, it does come with additional perks that could prove rewarding for all types of credit card users.

In this review, you can go through all those benefits, rates and charges, pros, and cons of the IndianOil Kotak credit card and decide whether it is suitable for your lifestyle.

IndianOil Kotak Rupay credit card

IndianOil Kotak Credit Card Highlights

The below points are the highlights of the IndianOil Kotak credit card’s top benefits.

Top perks of IndianOil Kotak Credit Card
IndianOil Fuel Benefits5% Savings
– 4% as reward points on IndianOil Fuel spends24 reward points on every ₹150 spent (1200 reward points per statement cycle)
– 1% fuel surcharge waiver (up to ₹100) on transactions between ₹100 to ₹5000
Grocery, Dining, and Other Rewards2% Savings
– 12 Reward Points on every ₹150 spent on Grocery and Dining (800 Reward Points per statement cycle)

0.5% Savings on other expenses
– 3 Reward Points for every ₹150 spent
Joining Fee₹449
Annual Fee Waiver (Rs. 449)If you spend 50,000 INR in a year
Welcome Benefits1000 Reward points if you spend ₹500 within 30 days of card issuance
Personal Accident InsuranceInsurance cover of ₹2,00,000
Concierge ServicesPersonal concierge and assistance for:
– Gift Delivery
– Flower Delivery
– Restaurant Referral and Bookings
– Car Rental and Limousine Referral and Reservation
– Golf Reservations
– Movie Ticket Booking and More
Add-on CardA free Add-on card:
– Customizable spending limit
– Separate spend tracking

Fees and Charges

Fees and Charges Applicable on IndianOil Kotak Credit Card
Joining Fee₹449
Annual/ Renewal Fee₹449
Late Payment ChargesFor pending amounts:
– Between ₹100 to ₹ 500: ₹100
– Between ₹501 to ₹5,000: ₹500
– Between ₹5,001 to ₹10,000: ₹500
– More than ₹10000: ₹700
Over Limit Charge₹500
ATM Cash Withdrawal/Fund Transfer/ Cash Advance per ₹10,000₹300
Interest Charges3.5% PM or 42% PA
Foreign Currency Mark Up3.5%
Reissue/ Replacement Card (per issuance)₹100
Add-on Card FeeNil
Read more rates and charges on Kotak Bank’s website.

Fuel Rewards

Using the IndianOil Kotak credit card, you can save up to 5% on fuel expenses.

  1. You save 4% as reward points on IndianOil Fuel, which is 24 reward points for every ₹150 you spend on fuel.
  2. You get a 1% fuel surcharge waiver (up to ₹100) on IndianOil fuel transactions between ₹100 to ₹5000.

Other Rewards Points

You can get multiple reward point benefits from this card depending on how often and where you use this card for payments.

  1. Get 2% savings with 12 reward points on every ₹150 you spend on Grocery and Dining.
  2. Get 0.5% savings on other expenses with 3 reward points on every ₹150 you spend.
  3. Get a welcome benefit of 1000 Reward points when you spend ₹500 within 30 days of card activation.

Read this information by Kotak Bank to know how to redeem all reward points.

Key 7 Benefits of IndianOil Kotak Credit Card

This credit card includes some highly rewarding and complimentary perks that can help improve your financial stability as a credit card user.

IndianOil Fuel Benefits

You save 5% on fuel transactions at IndianOIl fuel outlets.

Annual Fee Waiver

You get a waiver on the annual charge of ₹449 by spending ₹50,000 or more in a year.

Grocery and Dining Rewards

Despite it being a fuel-specific card, you can save 2% on grocery and dining with this credit card.

Personal Accident Insurance

You get a personal accident Insurance cover of ₹2,00,000 with the IndianOil Kotak credit card.

Concierge Services

You get a personal concierge and assistance for various premium requirements such as Gift Delivery, Flower Delivery, Restaurant Referral and Bookings, Car Rental and Limousine Reservation, Golf Reservations, and Movie Ticket Booking.

Add-on Card

You get a free Add-on card with a custom spending limit option and a feature to track the spending separately.

Welcome Benefit

As a welcome benefit for choosing this card, you get 1000 Reward points if you spend ₹500 within 30 days of card activation.

Is this the right card for you?

The IndianOil Kotak credit card is an ideal option for customers who frequently refuel their vehicles at IndianOil fuel outlets. For those preferring HPCL, a better choice would be recently launched IDFC First Power plus credit card that offers up to 5.5% savings on refuelling. But as mentioned above, it also includes some additional benefits that can prove highly advantageous for other types of cardholders as well.

Whether the card is the one for you or not depends on your lifestyle and expenses.

You can choose this card if you regularly-

  1. Refuel at IndianOil fuel outlets.
  2. Buy groceries and go out to eat.
  3. Need concierge services.
  4. Need an Add-on card.

However, frequently having to refuel your vehicle is the best and can be the only reason that you go for this card.

To know for certain, you need to evaluate your everyday spending requirements and see if the benefits of this card can be availed with those requirements.

Applying online for IndianOil Kotak Credit Card?

The fastest way to apply for the IndianOil Kotak credit card is by visiting the official website of Kotak Bank. However, make sure that you meet the eligibility criteria in order to avoid an unnecessary enquiry on your credit report.

Eligibility Criteria

  1. Must be an Indian citizen.
  2. Must be 18 years to 65 years old.
  3. The Add-on cardholder must be 18 years and above.

Required Documents for the Application

  1. PAN Card
  2. Income Proof – Latest 3 months bank statement or payslips
  3. Address Proof – Aadhar card, Passport, Voter ID, Electricity Bill, or Rent Agreement
  4. Passport-size Photograph

To apply online, you can click go on to Kotak bank’s official website – cards.kotak.com and apply online after selecting the ‘IndianOil Kotak RuPay credit card’.

Final Thoughts

The co-branded IndianOil Kotak Credit Card is all in all a great credit for all types of cardholders. The fuel rewards are its core benefits, but it has multiple additional ones that make it a multi-purpose credit card.

Additionally, it’s late payment and cash withdrawal charges are considerably low compared to other co-branded cards. They make this credit card a must-have tool for regular travellers with a lifestyle that involves frequent and high spending.

Nevertheless, you should consider your options, evaluate this card, compare it with others, and only choose if its benefits can prove helpful for your financial stability.

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