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  • IndianOil Premium Credit Card
    • Image of IndianOil Axis Bank Premium Credit Card
    Axis Bank

    IndianOil Axis Bank Premium Credit Card

    cat name Rewards
    cat name Fuel
    3.5/5.0

    Rewards3.0/5

    Fuel Benefits4.0/5

    Co-branded Benefits4.0/5

    Know More
    Paisabazaar Review

    1st Year Fee: ₹1,000* Plus Applicable Taxes

    Fuel

    Fuel

    5% value-back on Indian Oil fuel spends

    Lounge Access

    Lounge Access

    8 domestic airport lounge visits every year

    Rewards

    Rewards

    2X rewards on grocery & supermarket spends

    Updated on October 24, 2025 11:52 am

    Author: Shruti Sharma

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    About The CardRewards ProgramOther Features & BenefitsFees & ChargesThings to KnowCard ReviewFAQs

    About IndianOil Axis Bank Premium Credit Card

    IndianOil Axis Bank Premium Credit Card is a co-branded fuel credit card offering 5% value-back on Indian Oil fuel spends as 4% value back on IOCL fuel spends, along with a 1% fuel surcharge waiver. One of the key highlights of this card is its unique reward structure. Unlike other co-branded fuel cards that offer reward points, this card offers value-back in the form of EDGE Miles. Cardholders can redeem accumulated EDGE Miles not only for IOCL fuel spends but also for travel bookings across 15+ partner airlines and hotels, making it a good option for frequent travellers.

    Beyond fuel benefits, the card stands out by offering up to 8 complimentary domestic lounge visits every year, currently the highest among all co-branded fuel credit cards. Overall, IndianOil Axis Bank Premium Credit Card is an excellent choice for IOCL loyalists looking for a fuel credit card with flexible reward redemption options.

    Note: This Card is not available on Paisabazaar. The content on this page is for information only. To express interest in this card, please visit Axis Bank’s website.

    Rewards Program

    Reward Earning

    • 6 EDGE Miles per Rs. 150 spent on IOCL fuel outlets in India, up to Rs. 15,000 cumulative monthly fuel spends1
    • 2 EDGE Miles per Rs. 150 spent on grocery and supermarket, up to Rs. 5,000 monthly spends made in this category2
    • 1 EDGE Mile per Rs. 150 spent on other categories3

    Reward Points Redemption

    • 1 EDGE Mile = Rs. 1 for direct fuel purchases at IndianOil outlets
    • 2:1 conversion ratio across 15+ airlines and hotel partners
    • 3 EDGE Miles = 10 XTRAREWARDS for redemption against IOCL Loyalty Points

    You can also redeem reward points against vouchers and merchandise through Axis Bank’s Rewards Catalogue.

    View More
    Image of null
    Unlike most fuel credit cards that offer benefits in the form of reward points, IndianOil Axis Bank Premium Credit Card offers EDGE Miles with more redemption flexibility. EDGE Miles can be transferred to 15+ airlines and hotel partners in 2:1 ratio. So consumers who spend a significant amount on fuel, grocery and other accelerated spends can accumulate significant points and redeem them for travel value. However, card users should be mindful of the capping and use their cards smartly to make the most of the benefits.
    Image of null

    Other Features & Benefits

    Fuel Surcharge Waiver: 1% unlimited fuel surcharge waiver on fuel spends made at all IOCL outlets across India.

    Welcome Bonus: 500 EDGE Miles on making the first transaction within 30 days of card issuance.

    Zomato: 30% off, up to Rs. 150 per order, twice a month, on food delivery worth Rs. 200 or more via Zomato using the code ‘AXISIOCL’.

    Lounge Access: Up to 8 visits to select domestic airport lounges in India, maximum 2 visits per quarter on spending Rs. 50,000 in the previous 3 months6.

    Annual Fee Waiver: Annual fee waiver on spending Rs. 1 Lakh in a year.

    View More

    Fees & Charges

    Fee Type Amount
    Joining Fee Rs. 1,000 + Taxes
    Annual Fee Rs. 1,000 + Taxes
    Finance Charges 3.60% per month (52.86% p.a.)
    Late Payment Charges
    For Statement Balance:
    Up to Rs. 500 Nil
    From Rs. 501 to Rs. 5,000 Rs. 500
    From Rs. 5,001 to Rs. 10,000 Rs. 750
    Greater than Rs. 10,000 Rs. 1,200

    Things to Know Before you apply

    Get this card if

    You spend a significant amount on fuel every month

    You don’t want reward redemption to be limited to fuel only

    You travel several times in a year and miles conversion and lounge access are valuable features for you

    You can spend Rs. 1 Lakh or more in a year to get the annual fee waived off

    Other Fuel Credit Cards

    Paisabazaar Review

    Overall Rating

    3.5/5

    Rewards3.0/5

    Fuel Benefits4.0/5

    Co-branded Benefits4.0/5

    What do we like about this card?

    IndianOil Axis Bank Premium Credit Card is the only fuel credit card that offers value-back in the form of EDGE Miles instead of regular reward points. Cardholders can earn accelerated rewards not only on fuel expenses but also on everyday expenses, including grocery and supermarket purchases. What sets the card apart is its redemption flexibility, allowing EDGE Miles redemption in 1:1 ratio for IndianOil Fuel Spends and point-to-mile transfer across 15+ partner airlines and hotels in 2:1 ratio. This makes the card a compelling choice not only for commuters but also for frequent travellers. Additionally, benefits like up to a 30% discount on Zomato and exclusive dining offers through the Dining Delights program further enhance its overall value.

    Pros

    • Accelerated rewards on IOCL & other day-to-day spends
    • Redemption of rewards against IOCL fuel spends at a 1:1 ratio
    • Unlimited fuel surcharge waiver with no maximum capping
    • Up to 8 complimentary domestic lounge visits every year
    • Redemption of rewards against 15+ partner airlines

    Cons

    • Low redemption value against IOCL Loyalty Points
    • Capping on accelerated EDGE Miles earning categories
    • No international lounge access benefits

    Frequently Asked Questions

    Everything you need to know about this credit card

    IndianOil Axis Bank Premium Credit Card is a co-branded fuel credit card that offers up to 5% value back on fuel spends. Cardholders earn 6 EDGE Miles for every Rs. 150 spent at IOCL fuel outlets, along with a 1% unlimited fuel surcharge waiver.

    Yes, the card offers up to 8 complimentary domestic lounge visits per year, subject to a minimum spend of Rs. 50,000 in the previous quarter. Also, a maximum of 2 visits per quarter can be availed.

    No, IndianOil Axis Bank Premium Credit Card does not offer renewal benefits. However, cardholders can get an annual fee waiver by spending Rs. 1 Lakh in a year.

    The card offers up to 5% value back on IOCL fuel spends, which includes 4% through 6 EDGE Miles per Rs. 150 spent at IOCL fuel outlets and 1% through the fuel surcharge waiver.

    Yes, the card offers up to 25% dining discount at partner restaurants under the Dining Delights program. Additionally, cardholders can save up to Rs. 300 per month on Zomato food deliveries using this credit card.

    At the time of joining, the card offers 500 EDGE Miles (worth Rs. 500) upon making the first transaction within 30 days of card issuance.
    img

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    Footnotes

    1. For monthly spends above Rs. 15,000, cardholders will continue to earn the base reward rate of 1 EDGE Mile per Rs. 150 spent.
    2. For monthly spends above Rs. 5,000, cardholders will continue to earn the base reward rate of 1 EDGE Mile per Rs. 150 spent.
    3. Spends made on utilities, rent, insurance, transportation and tolls, government and educational institutions, and wallet are not going to accrue any EDGE Miles.
    4. For this, you must have at least 510 EDGE Miles to redeem.
    5. To avail these redemption options, you must have at least 500 EDGE Miles to redeem.
    6. The spending criteria is not applicable for a newly issued card for the issuance month and for the following 3 months.

    Click here to know More Terms and Conditions

    Shruti Sharma linkedIn icon

    Content Writer

    Shruti Sharma is a skilled content writer with a passion for simplifying personal finance for consumers. Specializing in credit cards and financial planning, she offers valuable insights that empower individuals to make informed financial choices. Through her writing, she shares practical tips and guides readers through the nuances of credit card usage.

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