← Part of Axis Credit Cards in India
The IndianOil Axis Bank Premium Credit Card offers up to 5% value-back on IndianOil fuel spends, combining 4% value back with a 1% fuel surcharge waiver. Cardholders also receive 2 complimentary domestic lounge accesses per quarter, totaling up to 8 annually, as of 2026.
| Parameter | Details |
|---|---|
| Card Type | Co-branded fuel credit card |
| Issuing Bank | Axis Bank (established 1994, third largest private sector bank in India) |
| Partner | IndianOil Corporation Limited (IOCL) |
| Primary Focus | Fuel-related perks and savings at IndianOil outlets |
| Reward Structure | EDGE Miles (instead of regular reward points) |
| Welcome Benefit | Up to 1250 EDGE Reward points on first fuel transaction within 30 days of issuance (2026) |
| Value-back on IOCL Fuel Spends | 5% (4% value back as EDGE Miles + 1% fuel surcharge waiver) |
| EDGE Miles Earning Rate (IOCL Fuel) | 6 EDGE Miles per ₹150 spent at IOCL fuel outlets (up to ₹15,000/month) |
| Fuel Surcharge Waiver | 1% waiver on transactions between ₹400 and ₹4,000, capped at ₹250 per statement cycle (2026) |
| Complimentary Lounge Access | 2 complimentary domestic lounge accesses per quarter (up to 8 annually) |
| Zomato Discount | 30% off (up to ₹150) on food delivery, twice monthly, for minimum ₹200 transaction (2026) |
| Movie Ticket Discount | 10% off on movie tickets via BookMyShow (2026) |
| Travel & Shopping Offers (Wednesdays) | Up to 15% off on Goibibo/MakeMyTrip; 10% off on Swiggy; 10% off (up to ₹1000) on Tira (2026) |
| EDGE Miles Transfer Ratio | 2:1 to 15+ airlines and hotel partners |
| EDGE Miles to IOCL Rewards Conversion | 3 EDGE Miles : 10 IOCL Rewards |
| Minimum Age to Apply | 18 years (as of 2026) |
| EDGE Miles Validity | 2 years from accumulation date |
This card is ideal for individuals seeking substantial savings on fuel expenses at IndianOil outlets, coupled with flexible reward redemption options for travel and everyday spending.
Key Features & Benefits of the Premium Card
The IndianOil Axis Bank Premium Credit Card offers 5% value-back on Indian Oil fuel spends, comprising 4% value back on IOCL fuel spends and a 1% fuel surcharge waiver. Cardholders also receive 2 complimentary lounge accesses per quarter at select domestic airports, travel comfort.
| Type/Category | Details | Key Feature |
|---|---|---|
| Fuel Benefits | 5% value-back on Indian Oil fuel spends (4% value back on IOCL fuel spends + 1% fuel surcharge waiver) | Accelerated Rewards on Fuel |
| Fuel Benefits | 6 EDGE Miles per ₹150 spent at IOCL fuel outlets in India | EDGE Miles Earning |
| Fuel Surcharge Waiver | 1% unlimited fuel surcharge waiver on fuel purchases at all IOCL fuel outlets across India | Fuel Savings |
| Reward Structure | Offers EDGE Miles instead of regular reward points, providing more redemption flexibility | Unique Reward System |
| Reward Redemption | EDGE Miles can be transferred to 15+ airlines and hotel partners in a 2:1 ratio | Flexible Travel Redemption |
| Reward Redemption | EDGE Miles can be converted to IOCL Rewards at a 3:10 ratio | d IOCL Rewards |
| Welcome Benefit | 500 EDGE MILES as a welcome benefit on the first spend within 30 days of card issuance | Instant Rewards |
| Accelerated Rewards | Earn accelerated rewards on everyday expenses, including grocery and supermarket purchases | Broadened Earning Categories |
| Base Earning | 1 EDGE MILE on every ₹150 spent on all other categories (uncapped base earn) | Consistent Rewards |
| Lounge Access | 2 complimentary lounge access per quarter at select domestic airports (up to 8 complimentary domestic lounge visits every year) | Travel Comfort |
| Dining Benefits | Enjoy exceptional dining experiences at top restaurants across India with the Axis Bank Dining Delights Program | Dining Discounts |
| Food Delivery Discount | Get an instant 30% off on food delivery at Zomato (valid twice monthly on a minimum transaction of ₹200, maximum discount capped at ₹150) | Zomato Offer |
| Annual Fee Waiver | Annual fee waiver on spending ₹30,000 and above in an anniversary year (or transactions up to ₹1 lakh in an annual year) | Cost Savings |
| Card Type | RuPay Credit Card, supporting linkage with Unified Payments Interface (UPI) | Digital Payment Convenience |
| Card Type | Mid-level, co-branded fuel credit card in partnership with IndianOil | Targeted Benefits |
The card’s EDGE Miles program provides significant value, especially for frequent travelers, allowing conversion to over 15 airline and hotel partners.
Rewards & Value Back: EDGE Miles & Fuel Savings
The IndianOil Axis Bank Premium Credit Card offers a 5% value-back on Indian Oil fuel spends, comprising 4% value back on IOCL fuel spends and a 1% fuel surcharge waiver. Cardholders earn EDGE Miles, which provide greater redemption flexibility compared to standard reward points, including transfers to over 15 airline and hotel partners.
| Reward Metric | Value / Earn Rate | Details / Conditions |
|---|---|---|
| Value-back on Indian Oil Fuel Spends | 5% | Includes 4% value back on IOCL fuel spends + 1% fuel surcharge waiver |
| EDGE Miles on IOCL Fuel Outlets | 6 EDGE Miles per ₹150 spent | Applicable at any IOCL fuel outlet in India |
| EDGE Miles on Grocery & Supermarket Spends | 2 EDGE Miles per ₹150 spent | Accelerated rewards on everyday expenses |
| Base EDGE Miles Earn Rate | 1 EDGE Mile per ₹150 spent | Uncapped earning on all other spends |
| Welcome Benefit (Premium Card) | 500 EDGE Miles | On first spend within 30 days of card issuance |
| Welcome Benefit (Standard Card) | Up to 1250 EDGE REWARD Points | On first fuel transaction within 30 days of card issuance |
| EDGE Miles Transfer Ratio | 2:1 | To 15+ airline and hotel partners |
| EDGE Miles to IOCL Rewards Conversion | 3:10 ratio | One of the most rewarding conversion options |
| Fuel Surcharge Waiver | 1% (unlimited) | On fuel purchases at all IOCL fuel outlets across India |
| Zomato Food Delivery Discount | 30% off (max ₹150) | Valid twice monthly on minimum transaction of ₹200, using coupon code AXISIOCL |
| Axis Bank Dining Delights Program | 25% off (max ₹800) | Through EazyDinner, valid twice a month |
| Complimentary Domestic Lounge Access | 2 per quarter | At select domestic airports |
| Wednesday Offers (Goibibo/MakeMyTrip) | Up to 15% discount | On flights or hotels every Wednesday |
| Wednesday Offers (Swiggy) | 10% off | On Swiggy orders every Wednesday |
| Wednesday Offers (Tira) | 10% off up to ₹1000 | On shopping at Tira every Wednesday |
The card’s EDGE Miles program allows for significant savings, especially for frequent fuel users and those who use accelerated rewards on grocery and supermarket purchases. This flexibility makes IT a strong option for maximizing value from everyday spending.
How to Apply for the IndianOil Premium Card
Applying for the IndianOil Axis Bank Premium Credit Card is a straightforward process, primarily conducted online through Axis Bank’s official channels. Applicants must be at least 18 years old to be eligible for the card.
The application typically involves submitting necessary documents and meeting the bank’s internal eligibility criteria, which are assessed after the application is submitted.
- Online Application: Visit the official Axis Bank website to initiate the application for the IndianOil Axis Bank Premium Credit Card. This is the primary method, as the card is not available through third-party platforms like Paisabazaar.
- Eligibility Check: Ensure you meet the minimum age requirement of 18 years. Axis Bank will conduct an internal assessment of your creditworthiness and other eligibility factors upon receiving your application.
- Document Submission: Prepare documents such as identity proof (Aadhaar, PAN card), address proof (utility bills, passport), and income proof (salary slips, bank statements, ITR).
- Application Form: Complete the online application form with accurate personal, financial, and employment details. Double-check all entries to avoid delays in processing.
- Welcome Benefit: Upon approval, make your first spend within 30 days of card issuance to receive 500 EDGE MILES as a welcome benefit.
- Terms and Conditions: Review the updated terms and conditions for the IndianOil Axis Bank Premium Credit Card, which were last updated effective June 20, 2025.
- Card Issuance: Once approved, the physical card will be dispatched to your registered address. The IndianOil Axis Bank Premium Credit Card was made available on or after July 1, 2024.
Following these steps ensures a smooth application process for the IndianOil Axis Bank Premium Credit Card, allowing you to access its fuel and lifestyle benefits.
Fees, Charges & Eligibility Criteria 2026
The IndianOil Axis Bank Premium Credit Card carries an annual fee of ₹500, which can be waived based on annual spending. To be eligible for this card, applicants must be at least 18 years old.
- Annual Fee: The card has an annual fee of ₹500. This fee is applicable from the second year onwards.
- Annual Fee Waiver: You can get an annual fee waiver by spending ₹30,000 or more in an anniversary year. This waiver applies if transactions up to ₹1 lakh are made annually.
- Joining Fee: The IndianOil Axis Bank Premium Credit Card typically has a joining fee of ₹500, often waived as part of introductory offers.
- Interest Rate: As of 2026, the monthly interest rate on outstanding balances is approximately 3.49%, translating to an annual interest rate of 41.88%.
- Fuel Surcharge Waiver: Cardholders receive a 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 at IndianOil outlets. This waiver is unlimited.
- Late Payment Charges: Charges for late payments vary based on the outstanding amount, typically ranging from ₹100 to ₹1,200.
- Cash Advance Fee: A fee of 2.5% of the cash advance amount (minimum ₹250) is charged for ATM withdrawals.
- Foreign Currency Transaction Fee: A markup of 3.5% is applied to all international transactions.
- Eligibility Age: Applicants must be at least 18 years old to apply for the IndianOil Axis Bank Premium Credit Card.
- Income Requirement: While not explicitly stated, most Axis Bank credit cards require a minimum monthly income, typically ₹25,000 to ₹30,000, for premium variants.
Understanding these fees and eligibility requirements helps in managing the card effectively and maximizing its benefits.
IndianOil Axis Bank Premium vs Other Fuel Cards
The IndianOil Axis Bank Premium Credit Card offers 5% value-back on IndianOil fuel spends and 2 complimentary domestic lounge accesses per quarter, distinguishing IT from basic fuel cards. IT provides EDGE Miles, which are transferable to 15+ airline and hotel partners at a 2:1 ratio, unlike standard reward points from other cards.
| Feature | IndianOil Axis Bank Premium | IndianOil Axis Bank (Basic) | IndianOil Kotak Credit Card |
|---|---|---|---|
| Fuel Value-back on IOCL Spends | 5% (4% value back + 1% surcharge waiver) | 4% value back (20 reward points per ₹100 spent) | Similar fuel savings |
| Reward Type | EDGE Miles | EDGE REWARD Points | Reward points |
| Reward Redemption Flexibility | Transferable to 15+ airlines/hotel partners (2:1 ratio), redeemable at IOCL fuel pumps, Axis Bank Travel Edge portal | Redeemable for free fuel, movie tickets, merchandise, cash back | Better rewards on non-fuel spending categories |
| Lounge Access | 2 complimentary domestic lounge access per quarter (up to 8 annually) | Not explicitly mentioned | Not explicitly mentioned |
| Dining Benefits | Axis Bank Dining Delights Program, 30% off on Zomato (twice monthly, max ₹150 on ₹200+) | Axis Bank Dining Delights Program | Not explicitly mentioned |
| Annual Fee | ₹1,000 + GST | ₹500 | Significantly lower annual fee waiver requirement |
| Welcome Benefit | 500 EDGE MILES on first spend within 30 days | Up to 1250 EDGE REWARD Points on first fuel transaction within 30 days | Not explicitly mentioned |
| Non-Fuel Rewards | 1 EDGE MILE on every ₹150 spent (uncapped base earn), accelerated rewards on grocery/supermarket | 2X reward points on all other spending | Better rewards on non-fuel spending categories |
The Premium card’s EDGE Miles offer greater flexibility for travel redemption, while the basic IndianOil Axis Bank card focuses on direct fuel savings and general spending rewards.
Common Misconceptions About the Premium Card
The IndianOil Axis Bank Premium Credit Card is a mid-level, co-branded fuel card, often misunderstood regarding its reward structure and benefits. Many users confuse its EDGE Miles with standard reward points, impacting their redemption strategy.
- Misconception 1: IT offers standard reward points. The card actually offers EDGE Miles, which provide greater flexibility than typical reward points. These can be transferred to over 15 airline and hotel partners at a 2:1 ratio, or converted to IOCL Rewards at a 3:10 ratio.
- Misconception 2: Benefits are only for fuel. While fuel benefits are primary, the card also offers accelerated rewards on everyday expenses like grocery and supermarket purchases. This expands its utility beyond just fuel savings.
- Misconception 3: IT has no lifestyle benefits. The Premium card includes 2 complimentary domestic lounge accesses per quarter at select airports. IT also provides dining discounts through the Axis Bank Dining Delights Program and 30% off on Zomato food delivery (up to ₹150, twice monthly).
- Misconception 4: IT is identical to the entry-level IndianOil Axis Bank Credit Card. The Premium variant is a more advanced offering with additional features and flexible reward redemption options, unlike the basic IndianOil Axis Bank Credit Card which has a simpler reward structure and a lower annual fee waiver requirement of ₹3.5 lakh.
- Misconception 5: The card is available on all platforms. As of 2026, the IndianOil Axis Bank Premium Credit Card is not available on platforms like Paisabazaar; interested applicants must apply directly via the Axis Bank website.
Understanding these distinctions helps cardholders maximize the value from their IndianOil Axis Bank Premium Credit Card, especially given the terms and conditions update effective June 20, 2025.
Terms & Conditions for IndianOil Premium Card
The terms and conditions for the IndianOil Axis Bank Premium Credit Card will be updated effective June 20, 2025. Cardholders should review these updates for any changes to benefits, rewards, or fees.
This card is a replacement for the erstwhile IndianOil Citibank Credit Card, launched on or after July 1, 2024, for existing Citi India customers.
- Eligibility Criteria: Applicants must be at least 18 years old to apply for the IndianOil Axis Bank Premium Credit Card.
- Annual Fee Waiver: The annual fee for the Premium card is waived if transactions of ₹30,000 or more are made within an anniversary year, or if total transactions reach ₹1 lakh in an annual year.
- Fuel Surcharge Waiver: A 1% unlimited fuel surcharge waiver applies to fuel purchases at all IOCL fuel outlets across India. This waiver is applicable for transactions between ₹400 and ₹4,000.
- Zomato Discount: Cardholders receive a 30% discount on Zomato food delivery, valid twice monthly. A minimum transaction of ₹200 is required, with a maximum discount capped at ₹150 per order.
- Lounge Access: The card provides 2 complimentary lounge accesses per quarter at select domestic airports in India.
- EDGE Miles Transfer: EDGE Miles earned on the Premium card can be transferred to over 15 airline and hotel partners at a 2:1 ratio.
Key Takeaways
- The IndianOil Axis Bank Premium Credit Card’s terms and conditions are scheduled for an update on June 20, 2025.
- Cardholders can achieve an annual fee waiver by spending ₹30,000 or more, or up to ₹1 lakh, in an anniversary year.
- The card offers a 1% unlimited fuel surcharge waiver at IOCL outlets for transactions between ₹400 and ₹4,000.
For detailed terms and conditions, visit the official Axis Bank website before applying.
Frequently Asked Questions (FAQs)
What are the main benefits of the IndianOil Axis Bank Premium Credit Card in 2026?
The IndianOil Axis Bank Premium Credit Card offers 5% value-back on IndianOil fuel spends, including a 1% fuel surcharge waiver, as EDGE Miles. Cardholders also receive 2 complimentary domestic airport lounge accesses per quarter and dining discounts via Axis Bank Dining Delights. You earn accelerated EDGE Miles on grocery and supermarket purchases as well.
How do I earn EDGE Miles with the IndianOil Axis Bank Premium Credit Card?
You earn 6 EDGE Miles per ₹150 spent at IndianOil fuel outlets in India, up to a specified limit. Accelerated rewards are also available on grocery and supermarket purchases. These EDGE Miles offer more flexible redemption options compared to standard reward points.
Can I get lounge access with the IndianOil Axis Bank Premium Credit Card?
Yes, the IndianOil Axis Bank Premium Credit Card provides 2 complimentary lounge accesses per quarter at select domestic airports in India. You can find the list of associated airports and terms on the Axis Bank website. This benefit your travel experience.
What is the fuel surcharge waiver limit on the IndianOil Axis Bank Premium Credit Card?
The IndianOil Axis Bank Premium Credit Card offers a 1% fuel surcharge waiver on transactions at IndianOil outlets. To avail this offer, the settlement amount for fuel transactions must be between ₹400 and ₹4,000. This waiver helps reduce your overall fuel expenses.
What are the annual fees for the IndianOil Axis Bank Premium Credit Card?
The IndianOil Axis Bank Premium Credit Card typically has an annual fee, though specific amounts can vary. As of early 2026, Axis Bank may offer waivers on the annual fee based on spending thresholds or as part of promotional offers. Always verify the current fee structure with Axis Bank directly.
How can I redeem EDGE Miles earned from the IndianOil Axis Bank Premium Credit Card?
EDGE Miles from the IndianOil Axis Bank Premium Credit Card can be transferred to over 15 airline and hotel partners at a 2:1 ratio. This flexibility allows you to convert your fuel and everyday spending rewards into travel benefits. You can manage redemptions through the Axis Bank EDGE Rewards portal.
What are the eligibility criteria for the IndianOil Axis Bank Premium Credit Card?
Eligibility for the IndianOil Axis Bank Premium Credit Card generally requires applicants to be Indian residents, aged 18 years or above, with a stable income. Axis Bank assesses your CIBIL score and income details to determine approval. A CIBIL score of 750 or higher typically improves your chances of approval.
Disclaimer: This article is general information, not financial advice. Interest rates, fees, and eligibility change frequently. Verify current details with the lender or regulator (RBI / SEBI / IRDAI) before deciding.