IndianOil HDFC Bank Credit Card

The IndianOil HDFC Bank Credit Card is a fantastic collaboration between HDFC Bank and Indian Oil Corporation. This co-branded credit card is tailored for frequent travelers who use their own vehicles to get around the city. It offers a variety of benefits, especially in the fuel category, making it ideal for those who frequently fill up at Indian Oil Petrol pumps. With this card, you earn fuel points with every fuel purchase, which can be redeemed for up to 50 liters of free fuel annually. It’s a convenient and rewarding way to save on fuel expenses and enjoy the perks of being an IndianOil HDFC Bank Credit Cardholder.

Key Highlights of IndianOil HDFC Credit Card

  • Get reward points on every transaction and convert them as fuel points.
  • Complimentary membership of IndianOil XTRAREWARDSTM Program (IXRP).
  • Get up to 50 days of interest free period on your HDFC Bank Indian Oil credit card from the date of purchase.
  • Annual fee waiver on spending minimum Rs. 50,000 in the first year.
  • Enjoy revolving credit on your HDFC IOCL credit card at nominal rate of interest.

Features and Benefits of IndianOil HDFC Bank Credit Card

  • Earn 5% Fuel Points on spends at IndianOil outlets (Maximum 250 Fuel Points per month for the first 6 months, and 150 Fuel Points per month after 6 months from card issuance).
  • Get 5% Fuel Points on Grocery and Bill Payments (Maximum 100 Fuel Points per month for each category).
  • Earn 1 Fuel Point for every ₹150 spent on other purchases.
  • Enjoy Revolving Credit at a nominal interest rate.
  • Zero liability for fraudulent transactions on lost cards.
  • Get a 1% fuel surcharge waiver on transactions of ₹400 or more at all fuel stations across India (Maximum Cashback of ₹250 per statement cycle).
  • Spend ₹50,000 or more in the first year to get a renewal fee waiver.
  • Convert big spends into EMI after purchase.
  • Enable contactless payments for fast, secure transactions at retail outlets (Up to ₹5000 without entering PIN, above ₹5000 requires PIN for security).

IndianOil HDFC Bank Credit Card Fees and Charges

  1. Joining Fee: Rs. 500 (plus taxes)
  2. Renewal Fee: Rs. 500 (plus taxes)
  3. Spend based Waiver: The renewal fee can be waived off if you spend a certain amount using the credit card.
  4. Rewards Redemption Fee: Rs. 99 per redemption request.
  5. Foreign Currency Markup: 3.5% of the transaction amount for foreign currency transactions.
  6. Interest Rates: 3.6% per month (or 43.2% per year) for outstanding balances.
  7. Cash Advance Charge: 2.5% of the amount withdrawn, with a minimum charge of Rs. 500.

IndianOil HDFC Bank Credit Card Eligibility

For Salaried Indian Nationals:

  • Age should be between 21 years to 60 years.
  • Net Monthly Income should be more than Rs 10,000.

For Self Employed Indian Nationals:

  • Age should be between 21 years to 65 years.
  • Annual Income as per Income Tax Return (ITR) should be more than Rs 6 Lakhs per annum.

Documents Required for IndianOil HDFC Bank Credit Card

To apply for the IndianOil HDFC Bank Credit Card, you’ll need the following documents:

  1. Identity Proof: You can use your PAN Card, Ration Card, Aadhaar card, Voter’s ID, and more.
  2. Address Proof: Acceptable proofs include your Passport, Driving License, Utility Bills, Aadhaar card, Ration card, and others.
  3. Income Proof: Provide your latest bank statements or salary slips, as well as your latest Income Tax Return (ITR) document.

How to apply for IndianOil HDFC Bank Credit Card?

Here are the steps to apply for the IndianOil HDFC Bank Credit Card:

To Apply Online:

  1. Go to the official HDFC Bank website.
  2. Click on ‘Credit Cards’ under the ‘Borrow’ section.
  3. Find the category ‘Fuel’ and select the IndianOil HDFC Bank Credit Card.
  4. Click on ‘Apply Online.’
  5. Fill out the online application form and follow the instructions.

To Apply Offline:

  1. Visit the nearest HDFC Bank branch.
  2. Ask for the IndianOil HDFC Bank Credit Card application form.
  3. Fill out the form and attach the required documents.

After submitting the application and required documents, the bank will review your application, conduct verification checks, and assess your creditworthiness. If your application is approved, you will receive your IndianOil HDFC Bank Credit Card at the registered address.

Frequently Asked Questions (FAQs)

1. What is the IndianOil HDFC Bank Credit Card?

The IndianOil HDFC Bank Credit Card is a co-branded credit card that offers benefits and rewards specifically tailored for fuel purchases at IndianOil outlets. It is a collaboration between HDFC Bank and Indian Oil Corporation Limited.

2. How can I apply for the IndianOil HDFC Bank Credit Card?

You can apply for the IndianOil HDFC Bank Credit Card through the official HDFC Bank website or by visiting the nearest HDFC Bank branch. The application process usually involves submitting necessary documents and meeting eligibility criteria.

3. What are the key features of the IndianOil HDFC Bank Credit Card?

The key features include accelerated rewards on fuel transactions at IndianOil outlets, reward points on other retail spends, fuel surcharge waiver, and access to a range of exclusive privileges and offers.

4. How does the fuel rewards program work?

Cardholders earn accelerated reward points on fuel transactions at IndianOil outlets using the IndianOil HDFC Bank Credit Card. These reward points can be redeemed for fuel discounts or other merchandise.

5. Is there a fuel surcharge waiver on the IndianOil HDFC Bank Credit Card?

Yes, the card offers a fuel surcharge waiver at all fuel stations for transactions within a specified limit. The waiver amount and conditions may vary, so it’s advisable to check the terms and conditions.

6. Can I use the IndianOil HDFC Bank Credit Card for non-fuel transactions?

Yes, the card can be used for all types of transactions, not just fuel purchases. Cardholders earn reward points on all retail spends, and these points can be redeemed for various benefits.

7. How can I check my reward points balance?

You can check your reward points balance through HDFC Bank’s online banking portal, mobile app, or by contacting the customer service helpline.

8. Are there any annual fees associated with the IndianOil HDFC Bank Credit Card?

The card may have an annual fee, and the specific details can be found in the terms and conditions provided by HDFC Bank. Some cards may offer a waiver of the annual fee based on spending criteria.

9. How do I redeem my reward points?

Reward points can be redeemed through the HDFC Bank rewards portal. The redemption options include fuel vouchers, merchandise, travel bookings, and more.

10. What are the eligibility criteria for the IndianOil HDFC Bank Credit Card?
The eligibility criteria typically include age, income, and credit score requirements. It is advisable to check with HDFC Bank for the most up-to-date eligibility criteria.