For many of us, fuel expenses take up a large part of our monthly budget. With rising petrol and diesel prices, saving even a small percentage can make a big difference over the year. The Indian Oil HDFC Bank Credit Card has been designed exactly for this purpose. It helps customers earn reward points on fuel purchases and also gives savings on groceries, bill payments, and dining. In this detailed guide, we will cover everything you need to know about this credit card in simple words.
What is Indian Oil HDFC Bank Credit Card?
The Indian Oil HDFC Bank Credit Card is a co-branded fuel card launched by HDFC Bank and Indian Oil Corporation Limited (IOCL). The card is mainly targeted at people who spend regularly on fuel. Each time you use the card to pay at Indian Oil outlets, you earn Fuel Points which can later be redeemed for free fuel. Along with fuel savings, it also offers benefits on groceries, utility bill payments, and dining.
Key Features of the Card
- Fuel Savings – Earn 5% Fuel Points on transactions made at Indian Oil petrol pumps using HDFC Bank swipe machines.
- Fuel Surcharge Waiver – Save 1% on fuel surcharge for transactions between ₹400 and ₹5,000 (maximum waiver ₹250 per month).
- Reward Points – Earn 5% Fuel Points on fuel, groceries, and bill payments. On all other spending, you get 1 Fuel Point for every ₹150 spent.
- Welcome Bonus – Get 250 Fuel Points on the first transaction done within 45 days of receiving the card.
- Dining Offers – Enjoy up to 20% discount at partner restaurants across India under HDFC’s Good Food Trail program.
- Contactless Payments – Pay quickly and securely by tapping your card on POS machines for purchases up to ₹5,000.
Fees and Charges
Joining Fee: ₹500 + GST (waived if you spend ₹20,000 within the first 90 days).
Annual Fee: ₹500 + GST (waived if annual spending crosses ₹50,000).
Interest Rate: 3.6% per month on outstanding balances.
Fuel Surcharge Waiver: 1% (maximum ₹250 per month).
If you use the card actively, the annual fee can be easily waived, making it very affordable.
Eligibility Criteria
To apply for the Indian Oil HDFC Bank Credit Card, you should meet the following:
Age:
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
Income:
Salaried: Minimum monthly income of ₹10,000
Self-employed: Minimum annual income of ₹6 lakh
Credit Score: Preferably above 700
Documents Required
PAN Card
Identity proof (Aadhar, Passport, Driving License, Voter ID)
Address proof (Aadhar, Passport, Utility Bill)
Income proof (Salary slips, ITR, or Bank statements)
Benefits in Detail
- Fuel Expense Savings – If you spend around ₹5,000 a month on fuel, you can save ₹4,000 to ₹5,000 a year through Fuel Points and surcharge waivers.
- Grocery and Utility Bills – The 5% Fuel Points also apply to groceries and bill payments, which means you save even on daily needs.
- Dining Offers – With up to 20% off at selected restaurants, it’s a good card for people who enjoy eating out.
- Easy Redemption – Redeem your Fuel Points instantly at Indian Oil pumps, making the process simple and quick.
How to Redeem Fuel Points?
Visit any Indian Oil petrol pump with an HDFC Bank POS machine.
Tell the cashier you want to redeem Fuel Points.
Swipe your card, select the redemption option, and the points will be adjusted against your fuel purchase immediately.
Who Should Get This Card?
People who spend regularly on fuel (bike/car owners, cab drivers, office commuters).
Families with regular spending on groceries and utility bills.
Anyone looking for a low-cost credit card that offers practical benefits.
Pros and Cons
Pros
High savings on fuel, groceries, and bills.
Low annual fee with waiver option.
Easy redemption process.
Dining discounts.
Cons
Rewards capped per month.
Benefits limited to Indian Oil pumps only.
Not ideal for heavy online shoppers.
Final Verdict
The Indian Oil HDFC Bank Credit Card is a perfect entry-level card for people who want to save on fuel and daily household expenses. With a low joining fee, easy waiver conditions, and instant redemption options, it is one of the most practical fuel cards in India. If you drive regularly or have a family that spends on groceries and utility bills, this card can help you cut down your expenses in a simple way.
Frequently Asked Questions (FAQs)
- What is the joining fee for Indian Oil HDFC Bank Credit Card?
The joining fee is ₹500 + GST, but it can be waived if you spend ₹20,000 within the first 90 days. - What is the annual fee for this card?
The annual fee is ₹500 + GST, waived if you spend more than ₹50,000 in a year. - What are Fuel Points?
Fuel Points are reward points that you earn on fuel, groceries, and bill payments. They can be redeemed for free fuel at Indian Oil outlets. - How much is 1 Fuel Point worth?
1 Fuel Point is equal to ₹0.96 when redeemed for fuel. - Can I use Fuel Points for other things apart from fuel?
Primarily, Fuel Points are for fuel redemption, but in some cases, they can also be used for catalog redemption via HDFC NetBanking. - Where can I redeem my Fuel Points?
At Indian Oil petrol pumps that have HDFC Bank swipe machines. - Do I get a fuel surcharge waiver?
Yes, you get a 1% fuel surcharge waiver on transactions between ₹400 and ₹5,000, capped at ₹250 per month. - Do I get welcome benefits?
Yes, you get 250 Fuel Points on your first transaction within 45 days. - Is this card contactless?
Yes, you can tap and pay up to ₹5,000 without entering a PIN. - Do I get rewards on all spends?
Yes, you get 5% Fuel Points on fuel, groceries, and bill payments, and 1 point per ₹150 spent on other categories. - Can I apply if I don’t have a high income?
Yes, salaried individuals with a minimum income of ₹10,000 per month are eligible. - Can I apply online?
Yes, you can apply through the HDFC Bank website or by visiting a branch. - How long does it take to get the card?
Usually, it takes 2–3 weeks after approval. - What is the interest rate on this card?
The interest rate is 3.6% per month (43.2% annually). - Who should apply for this card?
Anyone who spends regularly on fuel and wants to save money through rewards and surcharge waivers.
