Fuel prices might be going up, but that shouldn’t keep you from enjoying your travels. The Indian Oil Kotak Credit Card is here to enhance your experience, offering amazing rewards on fuel, dining, groceries, and more. Let’s explore the features, benefits, eligibility, and fees so you can see why this card is a fantastic choice for anyone looking to save money.
Key Features and Benefits of Indian Oil Kotak Credit Card
1. Fuel Savings
- Up to 5% Savings on IndianOil Fuel: Earn 4% back in Reward Points on fuel purchases and enjoy a 1% fuel surcharge waiver. You can earn 24 Reward Points for every ₹150 spent, capped at 1200 Reward Points per statement cycle.
2. Dining & Grocery Rewards
- 2% Savings on Dining and Groceries: Get 12 Reward Points for every ₹150 spent at select dining and grocery outlets, capped at 800 Reward Points per statement cycle.
3. Reward Points on Other Spends
- 0.5% Back on All Other Transactions: Earn 3 Reward Points for every ₹150 spent on other purchases.
4. Welcome Benefit
- Receive 1000 Reward Points when you spend ₹500 within the first 30 days of card issuance.
5. UPI Transactions
- All UPI transactions will accrue 0.5% Reward Points across all categories.
6. Contactless Transactions
- Rupay Contactless: Experience fast, safe, and secure payments by simply tapping your Indian Oil Kotak Credit Card. Make transactions up to ₹5000 without entering a PIN, ensuring that your card never leaves your hand and reducing the risk of loss or counterfeit. Multiple layers of security protect you from fraudulent transactions.
7. Annual Fee Waiver
- The annual fee of ₹449 can be waived if you spend ₹50,000 in the previous year.
8. Personal Accident Insurance
- Enjoy coverage of ₹2,00,000 against personal accidents.
9. Concierge Services
- Access services for gift delivery, restaurant bookings, car rentals, and more by calling 1800-26-78729.
10. Add-On Card
- Get a free add-on card with similar benefits. Set spending limits and track expenses separately.
Eligibility Criteria of Indian Oil Kotak Credit Card
| Category | Details |
|---|---|
| Primary Card Holder | Age: 18 to 65 years |
| Resident of India | |
| Add-On Card Holder | Age: 18 years and above |
Fees and Charges
| Fee/Charge | Amount |
|---|---|
| Joining Fee | ₹449/- |
| Annual Fees | ₹449/- |
| Condition for Waiver of Annual Fees | Spend ₹50,000 in the previous year |
| Interest Charges on Outstanding Balances | 3.5% (Annualized @ 42%) |
| Add-On Card Fees | NIL |
| Minimum Amount Due (MAD) | 5% or 10% of Total Amount Due (TAD) |
| ATM Cash Withdrawal / Fund Transfer | ₹300 per ₹10,000 or part thereof |
| Late Payment Charges (LPC) | Based on last statement |
| <₹100: 0.0 | |
| ₹100 – ₹500: ₹100.0 | |
| ₹501 – ₹5,000: ₹500.0 | |
| ₹5,001 – ₹10,000: ₹600.0 | |
| ₹10,001 – ₹25,000: ₹800.0 | |
| ₹25,001 – ₹50,000: ₹1000.0 | |
| >₹50,000: ₹1200.0 | |
| Over Limit Charge | ₹500 |
| Cheque Bounce Charges | ₹500 |
| Foreign Currency Mark-Up | 3.5% |
| Fee for Cash Payment at Bank | ₹100 |
| Reissue/Replacement Card (per issuance) | ₹100 |
| Railway Booking Surcharge | 1.8% / 2.5% on transaction amount |
- GST/Applicable Taxes: Charged as per rates approved in the Finance Act each year.
- Programme Eligibility: To get fee waivers for certain programmes, you need to meet the eligibility requirements.
(FAQ)
What is a Indian Oil Kotak Credit Card?
Indian Oil Kotak Credit Card is specifically designed to offer rewards and benefits for fuel purchases, such as cashback and Reward Points. It can also be used for dining and grocery expenses.
How to get the Indian Oil Kotak Credit Card?
You can easily apply for the card by visiting the official Kotak website.
Is it a good option to apply for Indian Oil Kotak Credit Card?
If you frequently fuel your vehicle, a fuel credit card can help you earn rewards and save money on fuel expenses.
Is it better to use a Indian Oil Kotak Credit Card? or a normal credit card?
It depends on your spending patterns. A fuel credit card usually offers higher rewards for fuel purchases compared to regular credit cards.
How can I avail of the Joining Benefit?
To receive the welcome benefit of 1000 Reward Points, complete a transaction of ₹500 or above within 30 days of card issuance. The benefit will be credited within 15 days.
Conclusion
Indian Oil Kotak Credit Card is designed to enhance your travel experience while offering valuable rewards and savings. With its diverse benefits, including the convenience of contactless transactions, it’s an ideal choice for anyone looking to make the most of their spending. Start your journey today and enjoy the road ahead!
