Base reward rate: Up to 4% on IOCL fuel, 1% on online spends, 0.2% on other spends
Redemption options: vouchers
Redemption value: 1 Pt = ₹0.20
Fees & Charges
Joining fee: 500
Annual fee: 500
Pros
Offers an excellent 4% reward rate (20 points per ₹100) on spends at IndianOil (IOCL) fuel stations, a high value-back for a co-branded fuel card in this fee range.
Provides a competitive 1% return (5 points per ₹100) on all online spends, making it a versatile card beyond just fuel purchases.
The annual fee of ₹500 is waived on a reasonably achievable spend of ₹1,00,000 per year, making it easy to hold for free.
Includes tangible lifestyle benefits such as 30% off on Zomato twice a month and 10% off up to ₹100 on BookMyShow transactions.
Features a 1% fuel surcharge waiver on transactions between ₹100 and ₹5,000, providing direct savings on fuel bills.
Cons
The base reward rate for general offline spending is extremely poor at just 0.2% (1 point per ₹100), offering negligible value on most retail purchases.
The 4 complimentary domestic lounge visits are gated by a very high quarterly spend requirement of ₹50,000, making the perk inaccessible for many users in this card's segment.
Key spending categories like Utilities, Insurance, Rent, and Wallet loads are completely excluded from earning any reward points, diminishing its value for everyday household expenses.
The primary 4% reward on IOCL fuel is reportedly unreliable, as some outlets may not be correctly categorized by the bank, leading to users receiving the much lower 0.2% base rate instead.
Best Use Case
Consumers who frequently refuel at IndianOil pumps and make online purchases, seeking fuel benefits and lounge access.