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Axis Bank

IndianOil Axis Bank Credit Card

A low-fee IOCL fuel co-brand — unusually for this portfolio, fuel spend itself earns an issuer-stated 4% value back, on top of a ₹50/statement-cycle fuel surcharge waiver, with no lounge access of any kind.

Joining fee
₹500
Annual fee
₹500
Status
Open
Verified
30 August 2026
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IndianOil Axis Bank Credit Card

Fees

Joining fee
₹500
Annual fee
₹500
Fee waiver
Waived above ₹3,50,000 annual spend
Forex markup
3.5%

Rewards

reward points

  • fuel: 4%IOCL fuel outlets in India, settlement amount ₹400-₹4,000, capped at ₹5,000 of eligible spend per calendar month
  • other-online: 1%Online shopping, ₹100-₹5,000 per transaction, capped at ₹5,000 of eligible spend per calendar month
  • everything-else, international: 0.2%All other eligible spend

Milestone rewards

  • ₹0 spend: Up to 1,250 EDGE Reward Points

Points redeem at ₹0.20 each. A ₹99 redemption fee applies per transaction on the EDGE Rewards platform.

Important Exclusions

  • insurance, utilities, rent: Also excludes gold/jewellery, wallet loads, government institutions, and education.

Eligibility

Minimum age
18 years

Why this card may suit you

  • The annual fee is waived once you spend 3,50,000 in a year.

Source & Verification

Verified from official issuer sources. Last verified 30 August 2026

View issuer page ↗

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An entry-level card whose real value is the lounge and cinema benefits, not the rewards. The reward points earn into a goods catalogue with no published rupee value, so treat the rate as unknown rather than as cashback.

Joining
₹500
Annual
₹500
Base reward
0.8% everything else
Forex
3.5%
Lounge
1/qtr domestic lounge
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