IndianOil Axis Bank Credit Card
This co-branded fuel card rewards IndianOil purchases at 20 EDGE points per ₹100 — a 4% effective return — on fuel transactions between ₹400 and ₹4,000, capped at ₹5,000 of eligible fuel spend each month. Online purchases return 1% (5 EDGE points per ₹100), while everything else settles for a token 1 point per ₹100. A 1% fuel surcharge waiver, capped at ₹50 a cycle, and a welcome bonus of up to 1,250 EDGE points sweeten the deal further. The ₹500 annual fee only disappears once you clear ₹3.5 lakh in yearly spend — a bar that's tough to reach on fuel purchases alone, so applicants shouldn't count on this becoming a free card in practice. Where it differs from a typical fuel co-brand is that its EDGE points aren't locked into petrol redemptions — they flow into Axis's broader rewards ecosystem, which adds flexibility, though HDFC's rival IndianOil card still out-earns it at the very same pumps.
Key features
The highlights that actually define what this card is for.
Welcome Benefit
~₹250 in vouchers, points or cashback on card activation
4% on Fuel
4% value back (20 EDGE points per ₹100) on IOCL fuel between ₹400–4,000, up to ₹5,000 eligible fuel spend a month
1% on Online Shopping
1% value back (5 EDGE points per ₹100) on online spends of ₹100–5,000 per transaction, up to ₹5,000 of eligible online spend a calendar month
Annual Fee Waiver
Fee of ₹500 + 18% GST (₹590 all-in)/yr fully waived when you spend ₹3,50,000/year
Fuel Surcharge Waiver
1% waiver on fuel transactions, capped at ₹50/month
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Fuel | reward points | 4% | ₹200 |
| Online Shopping | reward points | 1% | ₹50 |
| Other | reward points | 0.2% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹590 |
| Joining fee (incl. 18% GST) | ₹590 |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1%, cap ₹50 |
Should you get it?
Best for: Drivers who refuel mainly at IndianOil pumps, Anyone wanting a simple, low-fee fuel card
Entry tier — suited to first-time cardholders and lighter spenders.
Delivers the most value if fuel is a heavy part of your monthly spend ( 4% back).
✓ Pros
- Up to 4% value back (20 EDGE points per ₹100) at IndianOil outlets
- 1% fuel surcharge waiver
- Modest ₹500 fee — though clearing the ₹3.5 lakh waiver threshold on fuel spend alone is difficult
✕ Cons
- Accelerated fuel rewards top out at ₹5,000 of fuel spend a month
- No airport lounge access on the standard card
- Rewards away from IndianOil fuel purchases are unremarkable
Eligibility & documents
Age
18 –70 years
Min. income
₹15,000 /mo
How to redeem rewards
The paths available for turning earned points into real value.
🎁 Redeem EDGE Reward Points against fuel at IndianOil outlets
🎁 Redeem on the Axis EDGE portal for vouchers and products
What your Axis EDGE Reward Points are worth
What each redemption route is actually worth in practice — this is where most cardholders leave value on the table.
EDGE Rewards cashback BEST Standard EDGE Reward Points
EDGE Rewards vouchers BEST Gift-voucher catalogue
Travel EDGE portal BEST Flights & hotels
The concern HDFC's competing IndianOil card earns more at the very same pumps — this card only makes sense if being inside the Axis EDGE ecosystem carries real value for you.
The bottom line
A fuel card with a twist: its EDGE Reward Points can be spent across Axis's wider EDGE catalogue rather than being restricted to more petrol. For IOCL loyalists who already bank with Axis, that flexibility makes it a reasonable companion card.
Sources & verification
Fees, reward rates, and benefits for the IndianOil Axis Bank Credit Card are taken from Axis Bank 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 13 Aug 2026 . Reviewed by SarvCred Editorial Team . Always confirm current details on the issuer's site before applying. How we research →
Independence. SarvCred is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for Axis Bank . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Frequently asked questions
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