All cards / Kotak Mahindra Bank
IndianOil Kotak Credit Card
A co-brand fuel card offering up to 5% effective value-back at IndianOil outlets (points plus surcharge waiver) with a RuPay/UPI option — useful for regular IndianOil customers but unremarkable outside fuel and a couple of everyday categories.
Annual fee
₹449
Joining fee
₹449
Reward type
cashback
Base reward rate
1%
Card network
RuPay
Card tier
Entry
Who this card fits
Best suited to applicants with a credit score of roughly 700+ whose spend is concentrated in fuel, groceries. Its annual fee waives if you can comfortably clear the spend threshold.
Rewards & benefits
- Rewards rate: 1% base rate
- Insurance benefits: Personal accident cover of up to ₹2 lakh
Benefits by category
- 🍽️ Dining & food delivery
2% reward rate
- 🛒 Groceries
2% reward rate
- 🛡️ Insurance
Personal accident cover of up to ₹2 lakh
- ⛽ Fuel
4% reward rate · 1% fuel surcharge waiver on transactions ₹100–₹5,000, capped at ₹100/statement cycle
- 🌍 Forex / international spend
3.5% forex markup on international transactions
Eligibility
- Minimum credit score: 700
- Minimum monthly income: ₹20,000
- Employment: salaried, self-employed
- Age: 21–60
Fees & charges
- Spend-based waiver: Waived on annual spend of ₹50,000
- Foreign currency markup: 3.5%
- Interest rate: 45% p.a.
- Fuel surcharge waiver: 1% fuel surcharge waiver on transactions ₹100–₹5,000, capped at ₹100/statement cycle
Benefits
- 1% fuel surcharge waiver on transactions ₹100–₹5,000, capped at ₹100/statement cycle
- 1,000 reward points on spending ₹500 within 30 days of issuance
- Personal accident cover of up to ₹2 lakh
- RuPay variant works on UPI, earning rewards on UPI-linked spends too
Pros
- + Up to 5% value-back on IndianOil fuel spend
- + RuPay variant usable via UPI
- + Low, easily-waived annual fee
Cons
- − Fuel surcharge waiver capped at ₹100/cycle
- − Narrow bonus categories beyond fuel