IndianOil Kotak Credit Card

Indian Oil and Kotak Mahindra Bank have recently teamed up to introduce their co-branded fuel credit card. The IndianOil Kotak credit card is an excellent choice for newcomers to the credit world, offering attractive fuel-based perks and additional rewards. With over 34,000 Indian Oil outlets nationwide, cardholders earn rewards every time they refuel. The card also provides reward points for grocery, dining, and various expenses, which can be redeemed for free fuel, cashback, or other products through kotakrewards.com.

Key Highlights of IndianOil Kotak Credit Card

The key highlights of the IndianOil Kotak Credit Card are:

  1. Welcome Benefits: Earn 1,000 reward points for every Rs. 500 spent within the first 30 days of card issuance.
  2. Rewards on Spending: Get 12 reward points for every Rs. 150 spent on grocery and dining, 24 reward points for every Rs. 150 spent on fuel at Indian Oil fuel stations, and three reward points for every Rs. 150 on other transactions.
  3. Annual Fee Waiver: Enjoy an annual fee waiver by making transactions of at least Rs. 50,000 in the previous financial year.
  4. Contactless Payment: Use RuPay contactless payment for transactions of up to Rs. 5,000 for added convenience.
  5. Fuel Surcharge Waiver: Benefit from a fuel surcharge waiver of up to 1%, with a maximum of Rs. 100 each month.

These features make the IndianOil Kotak Credit Card a valuable choice for those who frequently use fuel stations and dine out, with the added advantage of rewards and cost-saving benefits.

Features and Benefits of IndianOil Kotak Credit Card

Here are the features and benefits of the IndianOil Kotak Credit Card, rephrased:

  1. Enjoy a welcome offer of 1,000 reward points for every Rs. 500 spent within 30 days.
  2. Earn 12 reward points for every Rs. 150 spent on grocery and dining.
  3. Receive 24 reward points for every Rs. 150 spent on fuel at Indian Oil fuel stations.
  4. Earn three reward points for every Rs. 150 on other transactions.
  5. Benefit from an annual fee waiver by making transactions of at least Rs. 50,000 in the previous financial year.
  6. Convenient RuPay contactless payment for transactions up to Rs. 5,000.
  7. Enjoy a fuel surcharge waiver of up to 1% with a maximum of Rs. 100 each month.

IndianOil Kotak Credit Card Fees and Charges

Here’s the information on fees and charges in a different format:

1. Annual Fee: Rs. 449
2. Joining Fee: Rs. 449
3. Interest on Outstanding Balances: 3.5%
4. Annual Fee Waiver Condition: Spend Rs. 50,000 in the previous financial year
5. Add-on Card Fee: None
6. Minimum Amount Due (MAD): 5% of MAD or 10% of Total Amount Due (TAD), as determined by the bank
7. ATM Cash Withdrawal/Fund Transfer/Call a Draft/Cash Advance (per Rs. 10,000): Rs. 300
8. Over Limit Fee: Rs. 500
9. Late Payment Fee:

  • Rs. 100 for statement balance up to Rs. 500
  • Rs. 500 for balance between Rs. 500.01 and Rs. 5,000
  • Rs. 500 for balance between Rs. 5,000.01 and Rs. 10,000
  • Rs. 700 for balance over Rs. 10,000

10. Cheque Bounce Charges: Rs. 500
11. Fee for Cash Payment at Bank: Rs. 100
12. Foreign Currency Mark Up: 3.5%
13. Card Replacement/Reissue: Rs. 100
14. Surcharge on Railway Ticket Booking: 1.8% or 2.5% based on the transaction amount.

IndianOil Kotak Credit Card Eligibility

To be eligible for the IndianOil Kotak Credit Card, you must meet these criteria:

  1. You must be a resident of India.
  2. Your age should be between 18 and 65 years.
  3. You need to demonstrate a stable source of income.

Documents Required for IndianOil Kotak Credit Card

When applying for the IndianOil Kotak Bank Credit Card, you should provide the following documents:

  1. Identity Proof: This can include your Permanent Account Number (PAN) Card, Aadhar card, driver’s license, Voter ID, and more.
  2. Income Proof: You should submit documents such as Form 16, your latest three salary slips, Income Tax Return (ITR) file, and recent bank statements.
  3. Address Proof: Documents like a ration card, utility bills, rent agreement, passport, and others serve as acceptable address proofs.

How to apply for IndianOil Kotak Credit Card

1. Eligibility Check: Before applying, make sure you meet the eligibility criteria, which typically include factors like age, income, and credit score.

2. Documents Preparation: Gather the necessary documents, which may include proof of identity, proof of address, proof of income, and other documents as required.

3. Online Application:

  • Visit the official Kotak Mahindra Bank website.
  • Navigate to the “Credit Cards” section.
  • Locate the “IndianOil Kotak Credit Card” and click on it.
  • Click on the “Apply Now” or “Apply Online” button.

4. Application Form: You’ll be directed to an online application form. Fill in the required details, including personal information, contact details, employment details, and financial information. Ensure that all information is accurate.

5. Document Submission: You may need to upload scanned copies of your documents as part of the application process. Make sure the documents are clear and meet the bank’s requirements.

6. Review and Submission: Carefully review the information you’ve provided and the terms and conditions. Once you’re satisfied, submit the application.

7. Application Tracking: After submission, you may receive an application reference number. You can use this number to track the status of your application.

8. Bank’s Verification: The bank will review your application and documents. They may contact you for further verification if needed.

9. Credit Card Approval: If your application is approved, you will receive the IndianOil Kotak Credit Card.

10. Card Activation: Once you receive the card, follow the instructions provided to activate it. Typically, this involves contacting the bank or visiting their website.

Frequently Asked Questions (FAQs)

1. What is the IndianOil Kotak Credit Card?
The IndianOil Kotak Credit Card is a co-branded credit card offered by Kotak Mahindra Bank in partnership with Indian Oil Corporation. It is designed to provide benefits and rewards specifically tailored for fuel purchases at Indian Oil outlets.

2. How can I apply for the IndianOil Kotak Credit Card?
You can apply for the IndianOil Kotak Credit Card online through the Kotak Mahindra Bank website. The application process typically involves filling out an online form and submitting necessary documents.

3. What are the key features of the IndianOil Kotak Credit Card?
The key features include accelerated rewards on fuel spends, discounts on fuel purchases at Indian Oil outlets, reward points on other retail spends, and various lifestyle benefits.

4. What benefits does the card offer for fuel purchases?
The card provides accelerated rewards and discounts on fuel transactions at Indian Oil outlets. Users can earn reward points for every fuel purchase and enjoy savings through fuel surcharge waivers.

5. Can I use the IndianOil Kotak Credit Card for transactions other than fuel purchases?
Yes, the card can be used for all types of retail transactions. Apart from fuel spends, you earn reward points on other retail purchases as well.

6. How can I redeem the reward points earned on the IndianOil Kotak Credit Card?
You can redeem your reward points for fuel purchases at Indian Oil outlets or choose from a variety of options offered by the Kotak Rewards Catalog, including merchandise, vouchers, and more.

7. Is there an annual fee for the IndianOil Kotak Credit Card?
The annual fee and other associated charges may vary. It is recommended to check the latest fee structure on the Kotak Mahindra Bank website or contact customer support for accurate and up-to-date information.

8. How can I check my IndianOil Kotak Credit Card statement?
You can check your credit card statement online through the Kotak Mahindra Bank’s internet banking portal. Statements are also sent to the registered email address every billing cycle.

9. What should I do if my IndianOil Kotak Credit Card is lost or stolen?
In case of loss or theft, immediately contact Kotak Mahindra Bank’s customer care to report the incident. The bank will guide you through the process of blocking the card and issuing a replacement.

10. How can I contact customer support for the IndianOil Kotak Credit Card?
You can reach Kotak Mahindra Bank’s customer support through their helpline number or by visiting their official website for online assistance and chat support. The contact details are usually provided on the back of the credit card or on the bank’s website.