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HDFC IOCL Credit Card

Apply HDFC IOCL Credit Card

Annual Fee

nil*

Reward Type

NA

Joining Fee

Currently not available! Check Eligibility for similar products

Sorry! We couldn't find any offer matching this category.

About HDFC IOCL Credit Card

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.

Key Features

  • Users can earn 5% of expenditure as Fuel Points (FP) for fuel purchase at IndianOil Fuel outlets, grocery shopping, monthly bill payments & also utility payments.
  • The card also earns 1 FP per spend worth Rs. 150 on any other purchases.
  • Fuel surcharge waiver of 1% can be earned on all fuel transactions.
  • The annual fee waiver can be earned for annual spends more than Rs. 50,000 in the prior year.
  • Accumulated fuel points can be redeemed as IndianOil XTRA REWARDS.
  • A credit limit is assigned for IndianOil HDFC credit card as per the norms of the bank. HDFC Bank takes into consideration many factors for deciding on a specific credit limit for users. Some of these include credit score, credit report, yearly income, repayment history, ongoing debts, etc.

Fuel Benefits

  • The HDFC IOCL credit card can earn 5% of fuel spent as Fuel Points.
  • Maximum 250 Fuel Points per month can be earned at any IndianOil petrol pump for the first 6 months.
  • After 6 months, users can get 150 Fuel Points per month.
  • 1% fuel surcharge waiver is applied on all transactions of minimum Rs. 400 and above.
  • For every other category of spending worth Rs.150 made through this card, 1 Fuel Point can be earned.
  • For bill payments and grocery spends, users can earn 5% of spends as Fuel Points.

Other Benefits

  • A waiver on renewal fee of Rs.500 can be earned for annual spends exceeding Rs. 50,000 per year.
  • A waiver on the first-year fee can also be earned for expenses of Rs. 20,000.
  • PayZapp activation comes automatically for users who make 1 transaction of a minimum of Rs .500 in the initial 90 days from the card issuance date.
  • For users who register via SmartPay, the card is offered for free.

Eligibility Criteria

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 primary applicant should be an Indian citizen.
  • Applicant’s age should be between 18 and 70 years.
  • The age of the add-on applicant should be above 15 years.

Documentation

The HDFC IOCL credit card application requires several documents. Here are some them which are important:

Proof of Identity

  • Driving License
  • Aadhaar card
  • Passport

Address Proof

Income Proof

  • Salary Slip
  • Form 16
  • IT Returns

Fees and Charges

Category of Charge

Amount

Annual fee

Rs. 500 (Waiver can be earned for spends exceeding Rs. 50,000)

Joining fee

Rs. 500

Minimum repayment value

5% of the total outstanding. Minimum being Rs. 200

Cash advance limit

40% of the credit limit

Finance fees

3.49% per month

Interest-free credit timeline

Up to 50 days

Add-on card charges

Nil

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 fee

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.

Over-limit payment

2.5% of the over-limit value, minimum being Rs. 500.

Fuel surcharge

1% of the fuel purchase value is considered as a waiver

Reissuance of lost, damaged or stolen card

Rs.100

Cheque pickup charges

Nil

Rewards redemption charges

Rs. 99

Foreign currency transaction fees

3.5%

Railway ticket booking charges

1% of the transaction value + GST

Cash payment charges

Rs. 100

Applying for HDFC IOCL Credit Card

Application for this credit card can be made in a few simple steps:

  • For an online application, users must fill the basic details such as name, address, occupation, monthly/annual income, etc.
  • After submitting the form, the list of eligible credit cards can be seen. Users can select the card of choice. If a user is eligible for IndianOil HDFC Bank card then it can be seen as part of the list.
  • Users can click on ‘Check Eligibility’ and enter the needed information.
  • For eligible candidates required details will then have to be filled in and submitted.
  • After successfully submitting the form, a bank representative will reach out and collect documents from the applicant’s home or office.
  • The bank then scrutinizes all documents furnished and upon qualifying, he or she gets the card delivered at registered address within a timeframe of 15 days.
  • One can also apply directly by visiting the nearest HDFC branch.

About HDFC Bank

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.

FAQs

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%.

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