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HDFC IOCL credit card is a collaboration between HDFC Bank and Indian Oil Corporation. This credit card ensures savings on fuel expenses by awarding fuel points. Fuel surcharge waiver is an added advantage of this card. The HDFC IOCL credit card is ideal for customers who frequently use private transport like cars, two-wheelers, etc. Works well for customers in non-metros as well. Besides fuel savings, the card offers multiple other benefits. Annual Fee Rs. 500+GST. Monthly interest rate: 3.49%. Check your eligibility and apply to start earning rewards of fuel expenses.
Indian Oil and HDFC Bank Ltd jointly launched a fuel credit card mainly targeting customers in non-metro places. It is designed to offer the lowest fuel price combined with many other benefits. This card can be sourced from Rupay and Visa platforms as well. With the help of the HDFC IOCL credit card, customers can earn reward points at more than 27000 IndianOil outlets. These are also known as fuel points. Users can earn fuel points on other expenses such as dining out, shopping, utility payments, etc. The accumulated points can be redeemed yearly for a maximum of 50 litres fuel.
Applicants who wish to apply for this card can visit the official HDFC website and click on the ‘Apply Now’ option. It is important to submit the primary details as required by the website. The bank will then check the eligibility of the applicant and get in touch.
Here are the eligibility criteria for this credit card:
The HDFC IOCL credit card application requires several documents. Here are some them which are important:
Proof of Identity
Category of Charge
Rs. 500 (Waiver can be earned for spends exceeding Rs. 50,000)
Minimum repayment value
5% of the total outstanding. Minimum being Rs. 200
Cash advance limit
40% of the credit limit
3.49% per month
Interest-free credit timeline
Up to 50 days
Add-on card charges
Cash advance charges at ATMs
2.5% of the transaction value with a minimum of Rs. 500
Cash advance charges at International ATMs
2.5% of the transaction value with a minimum of Rs. 500.
Cheque value of maximum Rs. 5,000 – Rs. 25
Cheque value higher than Rs. 5,000 – Rs. 50
Late payment fees
If the total amount due is less than Rs. 100 - Nil If between Rs. 100 and Rs. 500 - Rs. 100 If between Rs. 501 and Rs. 5,000 - Rs. 400 If between Rs. 5,001 and Rs. 10,000 – Rs. 500 If between Rs. 10,001 and RS. 25,000 – Rs. 7,500 Higher than Rs. 25,000 – Rs. 750
Payment return fees
2% of the payment amount, a minimum of Rs. 450.
Balance transfer fees
1% of the value of balance transfer or Rs. 250, whichever is higher.
2.5% of the over-limit value, minimum being Rs. 500.
1% of the fuel purchase value is considered as a waiver
Reissuance of lost, damaged or stolen card
Cheque pickup charges
Rewards redemption charges
Foreign currency transaction fees
Railway ticket booking charges
1% of the transaction value + GST
Cash payment charges
Application for this credit card can be made in a few simple steps:
HDFC Bank is one of the most premium private-sector banks in India. With a wide range of products and services, HDFC offers multiple credit cards options and other products such as mutual funds, investment programs, etc. HDFC bank caters to the different needs of a multitude of customers. Its credit cards are known to offer exciting features such as free airport lounge access, waivers on fuel-surcharge, etc. With its irresistible features, the Millenia credit card is one of its most preferred credit cards among customers.
1. Are there any exclusive fuel credit cards by HDFC Bank?
HDFC IOCL credit card is specifically meant for individuals who want to benefit from fuel expenses. Platinum Plus credit card is another card which offers 100% fuel surcharge waiver.
2. What all fuel benefits can I get from HDFC IOCL credit card?
Fuel points can be earned at all IndianOil outlets. A Minimum 5% of spends on grocery bills can earn fuel surcharge waiver. IndianOil XTRA REWARD points can also be earned and redeemed at IndianOil petrol stations across the country.
3. What are the additional offers on this credit card?
With Smartbuy, users can get 10x Reward Points or up to 5% cashback on shopping bills. These reward points can also be redeemed to book flight tickets or make hotel bookings. The offer is also applicable to online shopping places such as Amazon.in and Flipkart.
4. Does HDFC IOCL credit card have reward points?
No, the card does not have any reward points. Since this is a fuel credit card, it has only Fuel Points which can be accumulated and redeemed.
5. Is there any monthly interest rate on this credit card?
The card attracts 3.49% interest per month. Annually, this comes to 41.88%.
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.