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Credit Cards · India

IndianOil Axis Bank Premium Credit Card

Updated 5 Jul 2026Source-linked

The IndianOil Axis Bank Premium Credit Card is a entry co-branded credit card from Axis Bank and IndianOil, with a joining fee of ₹1,000 + GST.

It earns up to 6 miles per ₹150 (≈4.0% value) on IndianOil spends in the form of edge miles (miles).

Cardholders get 2 quarterly domestic airport lounge access, plus 500 edge miles as a welcome benefit.

Axis Bank logo
IndianOil Axis Bank Premium Credit Card
RuPay logo
  • Joining Fee₹1,000
  • Annual Fee₹1,000
  • Best Suited ForFuel
  • Reward TypeEDGE Miles (miles)
Rewards Rate
  • 6 miles per ₹150 on indianoil fuel (cap 600 miles / monthly)
  • 2 miles per ₹150 on grocery supermarket (cap 66 miles / monthly)
  • Base 0.67% on other spends
Welcome Benefits
  • 500 EDGE Miles
Data verified 5 Jul 2026 — see our methodology
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Rewards and Benefits

Rewards Rate
6 miles per ₹150 on indianoil fuel (cap 600 miles / monthly)
2 miles per ₹150 on grocery supermarket (cap 66 miles / monthly)
Base 0.67% on other spends.
Reward Redemption
Axis EDGE Miles: Redeem at ₹1 per unit.
Welcome Benefits
500 EDGE Miles
Milestone Rewards
N/A
Domestic Lounge Access
2 visits each quarterly.
International Lounge Access
N/A
Travel
N/A
Movie & Dining
Up to 30% off via Zomato
Golf
N/A
Insurance Benefits
N/A
Other Benefits
N/A

See the math — accelerations & caps

What you'd realistically keep — caps applied, channel premiums cut when you don't route through them, realized redemption value.

  • Groceries₹86/mo

    You spend ₹8,000 · earns 1.3% = ₹107 uncapped → cap ₹66 clamps it, ₹41 lost to the cap · ₹20 earned at base beyond it

    • Cap ₹66/mo reached — extra spend earns base
    • Valued at realized redemption value

Base-rate spend

Non-accelerated spend, summarized at this card's base rate.

  • Online shopping₹15,000 · 0.7% = ₹100/mo
  • Dining & food delivery₹8,000 · 0.7% = ₹53/mo
  • Fuel₹4,000 · 0.7% = ₹27/mo

    Fuel — earns base; accelerated rate needs booking via iocl

  • Travel & hotels₹10,000 · 0.7% = ₹67/mo
  • Utilities & bills₹5,000 · 0.0% = ₹0/mo
Est.net rewards for this spend, realistic
₹3,996/yr

₹3,996 rewards − ₹0 annual fee. Estimate for the spend you entered.

Fees & Charges

Spend-Based Waiver
₹30,000 in the preceding year
Rewards Redemption Fee
N/A
Foreign Currency Markup
3.50%
Interest Rates
3.75% per month (45.0% annualised)
Fuel Surcharge Waiver
1.0% waiver on transactions between ₹200 and ₹5,000.
Cash Advance Charges
2.5% or ₹500 (whichever is higher)

Product Details

  • Co-branded entry card by Axis Bank and IndianOil.
  • Joining / annual fee of ₹1,000 + GST, waived on annual spends of ₹30,000.
  • Available on the RuPay network.
  • Complimentary airport lounge access: domestic (2/quarterly).

Pros & Cons

Pros
  • Annual fee waivable on ₹30,000 spend.
  • Complimentary domestic airport lounge access (2/quarterly).
  • Accelerated earn worth ≈4.0% on indianoil fuel.
Cons
  • Standard forex markup of 3.50% — suboptimal for international spend.
Pros & cons are heuristically derived from the card's fees, rewards and benefits. Not editorial opinion.

₹500 welcome benefit

  • 500 EDGE Miles
    First spend within 30 days of card issuance
    Window: 30 days from issuance.

Accelerated rewards

  • 6 miles per ₹150 on indianoil fuel (cap 600 miles / monthly)
    Merchants: indianoil-fuel-stations
    6X EDGE Miles (5X accelerated + 1X base) per ₹150 at registered IndianOil fuel pumps, up to ₹15,000 spend/statement month; capped at 600 EDGE Miles/month. Beyond ₹15,000, only 1X base earned.
  • 2 miles per ₹150 on grocery supermarket (cap 66 miles / monthly)
    2X EDGE Miles (1X accelerated + 1X base) per ₹150 on grocery & supermarket spends, up to ₹5,000 spend/statement month; capped at 66 EDGE Miles/month. Beyond ₹5,000, only 1X base earned.

Exclusions

The following spend categories earn no rewards on this card:

  • wallet loads
  • rent
  • insurance premiums
  • emi
  • utilities
  • education
  • government
  • jewellery
  • cash advance

Airport lounge access

Domestic
2 visit(s) / quarterly.

Fuel surcharge waiver

1.0% waiver on fuel transactions between ₹200 and ₹5,000.

Sources

Last verified 5 Jul 2026. Verify with the issuer before applying.

Eligibility

Age
18–70
Credit score
720+
Income (salaried)
₹3,00,000 p.a.
Income (self-employed)
₹3,00,000 p.a.
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