Maximise fuel savings and earn miles on every spend
Up to 4% value back on IOCL fuel purchases + 1% fuel surcharge waiver
500 EDGE Miles on first transaction within 30 days
8 domestic lounge visits per year (2 per quarter)
Enter your details to get started
| Benefit | Details |
|---|---|
| Accelerated Fuel Rewards | Earn 6 EDGE Miles per ₹150 spent at IndianOil fuel outlets (equivalent to 4% value back) on fuel purchases up to ₹15,000 per month. Beyond this limit, continue earning at the base rate of 1 EDGE Mile per ₹150. This makes it one of the highest fuel reward rates amongst co-branded fuel credit cards in India. |
| Unlimited Fuel Surcharge Waiver | Enjoy 1% unlimited fuel surcharge waiver on all fuel transactions at IndianOil outlets across India. Unlike many fuel cards with capped waivers, this benefit has no upper transaction limit or monthly cap, ensuring maximum savings on every fuel fill. GST charged on fuel surcharge is non-refundable. |
| Grocery & Supermarket Rewards | Earn 2 EDGE Miles per ₹150 spent at grocery stores and supermarkets (equivalent to 1.3% value back) on purchases up to ₹5,000 per month. This accelerated earning on daily essentials complements the fuel benefits, making this card valuable for everyday spending beyond just petrol pumps. |
| Complimentary Domestic Lounge Access | Access select domestic airport lounges 8 times annually (maximum 2 visits per quarter) by maintaining a minimum quarterly spend of ₹50,000 over the previous 3 calendar months. This rolling spend requirement ensures regular cardholders enjoy comfortable pre-flight relaxation without additional costs. |
| Welcome Benefit | Receive 500 EDGE Miles (worth ₹500) upon making your first transaction within 30 days of card issuance. No minimum spend requirement makes this straightforward welcome bonus accessible to all new cardholders, providing immediate value from day one. |
| Zomato Food Delivery Discount | Save 30% on Zomato food delivery orders with a maximum discount of ₹150 per order, available twice monthly on minimum order values of ₹200. Potential annual savings of up to ₹3,600 (₹150 × 24 orders) make dining in more affordable and rewarding. |
| Dining Delights Programme | Enjoy up to 25% discount at premium restaurants nationwide through Axis Bank's Dining Delights programme in partnership with EazyDiner. Access exclusive member rates, priority reservations, and chef's special experiences at select fine dining establishments across major Indian cities. |
| Wednesday Delights Offers | Beat mid-week blues with exclusive Wednesday offers across dining, entertainment, shopping, and lifestyle categories. These rotating weekly deals provide additional value throughout the month, complementing the card's core fuel and food delivery benefits. |
| Flexible EDGE Miles Redemption | Redeem EDGE Miles at 1:1 ratio for fuel at IndianOil outlets, transfer to 15+ airline and hotel partners at 2:1 ratio, book flights and hotels through Travel EDGE portal, or redeem against catalogue merchandise and vouchers. Additionally, use the unique 3:10 conversion to IOCL XTRA Rewards for even more fuel savings. |
| Annual Fee Waiver | Waive the annual renewal fee of ₹1,000 + GST by spending just ₹30,000 or more in the card anniversary year. This exceptionally low threshold makes the card virtually free for moderate spenders, significantly improving the value proposition. |
| Base Earning on All Spends | Earn uncapped 1 EDGE Mile on every ₹150 spent across all other eligible categories including shopping, utilities, entertainment, and more. This ensures you're rewarded on every purchase, not just fuel and groceries, making it a well-rounded everyday credit card. |
| UPI Credit Card | Link your IndianOil Axis Bank Premium Credit Card to UPI applications for seamless contactless payments whilst continuing to earn EDGE Miles. Access your virtual card immediately through the Axis Mobile app upon approval, enabling instant UPI linkage and PIN setup before the physical card arrives. |
| Attribute | Classification |
|---|---|
| Issuer / Provider | Axis Bank in partnership with Indian Oil Corporation Limited (IOCL) |
| Bank / Non-bank | Bank-affiliated |
| Category | Fuel Rewards / Co-branded |
| Type of Card | Co-branded Fuel Credit Card |
| Free or Paid | ₹1,000 + GST Annually (Waived on ₹30,000 annual spend) |
The IndianOil Axis Bank Premium Credit Card is the ideal choice for moderate to high fuel spenders who primarily refuel at IndianOil outlets and want to maximise savings through accelerated rewards and unlimited fuel surcharge waivers. This co-branded card, offered in partnership with India's largest oil marketing company IndianOil Corporation, is particularly valuable for those spending ₹10,000-₹15,000 monthly on fuel, as it offers industry-leading 4% value back on IOCL fuel purchases.
As the premium variant of Axis Bank's IndianOil credit card family, this card represents an upgrade from the basic IndianOil Axis Bank Credit Card with enhanced earning rates, lounge access, and broader reward redemption options through EDGE Miles. Whether you're a daily commuter, ride-sharing driver, or business professional with regular fuel expenses, this card ensures every litre of petrol or diesel translates into tangible savings and travel rewards.
IndianOil Partnership: The card is co-branded with Indian Oil Corporation Limited (IOCL), India's largest commercial enterprise and petroleum products marketer with over 29,000 fuel retail outlets nationwide. Every eligible fuel transaction at IOCL outlets earns accelerated EDGE Miles that can be redeemed for fuel, transferred to airline frequent flyer programmes, or converted to hotel loyalty points, giving you extensive flexibility beyond just cashback.
EDGE Miles Currency: This premium variant earns EDGE Miles — Axis Bank's premium rewards currency designed for travel enthusiasts. One EDGE Mile equals ₹1 when redeemed for fuel at IndianOil outlets or when booking through Travel EDGE portal. The 2:1 transfer ratio to airline partners (including Air India, Vistara, Singapore Airlines, Emirates, Qatar Airways, Etihad, and more) makes accumulating miles for flight bookings significantly more rewarding than traditional cashback cards.
Tiered Fuel Rewards Structure: The card features a monthly tiered earning structure on IOCL fuel purchases. Spend up to ₹15,000 monthly on fuel to earn the accelerated rate of 6 EDGE Miles per ₹150 (equivalent to 4% return), translating to 600 EDGE Miles (₹600 value) at the ₹15,000 threshold. Beyond ₹15,000 in the same statement month, continue earning at the base rate of 1 EDGE Mile per ₹150.
Grocery Rewards: Beyond fuel, earn 2 EDGE Miles per ₹150 spent at grocery stores and supermarkets (1.3% value back) on purchases up to ₹5,000 monthly. Once you cross ₹5,000 in grocery spending within a statement month, revert to the base rate of 1 EDGE Mile per ₹150. This accelerated earning on daily essentials makes the card valuable for household expenses.
Unlimited Fuel Surcharge Waiver: Enjoy 1% unlimited fuel surcharge waiver at all IndianOil outlets without any transaction limits or monthly caps. Most fuel credit cards limit surcharge waivers to ₹4,000 monthly or cap benefits at ₹500 per month, but this card provides unrestricted savings. Combined with the 4% rewards on fuel, you effectively earn 5% total value back on IOCL fuel purchases up to ₹15,000 monthly. GST charged on fuel surcharge is non-refundable.
Domestic Airport Lounge Access: Access select domestic airport lounges 8 times annually (maximum 2 visits per quarter) after spending ₹50,000 or more in the previous 3 calendar months. This rolling quarterly spend requirement provides flexibility. Each complimentary visit typically valued at ₹1,500-₹2,000 translates to annual benefits worth ₹12,000-₹16,000 for eligible cardholders.
Zomato Food Delivery Discount: The card offers 30% instant discount on Zomato food delivery orders, capped at ₹150 per order, available twice monthly on minimum order values of ₹200. This benefit works out to effective savings on orders between ₹200-₹500. Maximise annual value by ordering close to the ₹500 threshold twice monthly for potential ₹3,600 annual savings.
Annual Fee Waiver: The card's annual fee of ₹1,000 + GST (approximately ₹1,180) is completely waived upon spending ₹30,000 or more in the card anniversary year. This exceptionally low threshold makes the card practically free for moderate users. Spending just ₹2,500 monthly easily meets the waiver requirement.
Base Earning on All Categories: Earn uncapped 1 EDGE Mile on every ₹150 spent across all other eligible categories including shopping, entertainment, dining, travel, utilities, and more. This ensures you're rewarded on every purchase beyond fuel and groceries. There's no annual cap on base earning.
UPI Integration: Link the card to UPI applications for contactless payments whilst earning EDGE Miles on UPI transactions. Access your virtual card immediately through Axis Mobile app upon approval, enabling instant UPI linkage and PIN setup before your physical card arrives.
Excluded Merchant Categories: The following transaction categories do not earn EDGE Miles: Transportation/tolls, Utilities, Insurance, Educational institutions, Government institutions, Wallet loading (MCC 6540), Rent payments (MCC 6513). Additionally, EMIs, balance conversions, balance transfers, cash withdrawals, fees, and charges do not earn EDGE Miles.
6 EDGE Miles per ₹150 on IOCL Fuel (up to ₹15,000/month)
Earn 6 EDGE Miles on every ₹150 spent at registered IndianOil fuel outlets
Accelerated earning capped at ₹15,000 fuel spends per statement month
Maximum 600 EDGE Miles monthly from accelerated fuel category
6X earning comprises 5X accelerated + 1X base rewards
Beyond ₹15,000 monthly, earn base rate of 1 EDGE Mile per ₹150
Value: 4% back when redeemed for fuel
Example: ₹12,000 fuel spend = 480 EDGE Miles worth ₹480
2 EDGE Miles per ₹150 on Grocery & Supermarkets (up to ₹5,000/month)
Earn 2 EDGE Miles on every ₹150 spent at grocery stores
Accelerated earning capped at ₹5,000 per statement month
Maximum 33 EDGE Miles monthly from grocery category
2X earning comprises 1X accelerated + 1X base
Identified by MCC 5411 as allotted by Mastercard/Visa
Example: ₹4,500 grocery spend = 60 EDGE Miles
1 EDGE Mile per ₹150 on All Other Spends
Uncapped base rate on all other eligible categories
No monthly or annual cap on base earning
Value: 0.66% back when redeemed for fuel
Comprehensive Monthly Example (₹50,000 spend)
Date | Category | Amount | Rate | Base | Accelerated | Total |
11-Nov | IOCL Fuel | ₹15,000 | 6X | 100 | 500 | 600 |
12-Nov | IOCL Fuel | ₹10,000 | 1X | 67 | 0 | 67 |
13-Nov | Grocery | ₹5,000 | 2X | 33 | 33 | 66 |
14-Nov | Grocery | ₹1,000 | 1X | 7 | 0 | 7 |
20-Nov | Shopping | ₹19,000 | 1X | 127 | 0 | 127 |
Total |
| ₹50,000 |
| 334 | 533 | 867 |
Fuel Redemption at IndianOil (1:1 ratio)
1 EDGE Mile = ₹1 fuel value
Minimum: 500 EDGE Miles
Highest-value redemption option
Example: 5,000 EDGE Miles = ₹5,000 fuel
IOCL XTRA Rewards Conversion (3:10 ratio)
3 EDGE Miles = 10 XTRA Rewards points
3.33X multiplier for IOCL ecosystem benefits
Example: 3,000 EDGE Miles = 10,000 XTRA Rewards
Partner Miles Transfer (2:1 ratio)
Airlines: Air France-KLM, Ethiopian, Etihad, Qatar, Singapore, Turkish, United, Vistara, SpiceJet, AirAsia
Hotels: IHG Rewards, Marriott Bonvoy, ITC Fortune
2 EDGE Miles = 1 Partner Mile/Point
Minimum: 510 EDGE Miles
Irreversible transfer
Example: 10,000 EDGE Miles = 5,000 airline miles
Travel EDGE Portal
Book flights, hotels, packages at https://traveledge.axisbank.co.in
Flexible value, generally 0.8-1.2X
Combine miles with cash
Catalogue Redemption
Products, vouchers, electronics
Minimum: 500 EDGE Miles
Value: ₹0.20-₹0.50 per mile
₹99 redemption fee
Miles Validity
3 years from credit date
Check at https://edgerewards.axis.bank.in
Redeem within 45 days of card closure
500 EDGE Miles on First Transaction
Worth ₹500 for fuel redemption
Credited within T+12 days
No minimum spend required
First transaction within 30 days of issuance
Not for existing cardholders or pre-July 2024 migrations
Domestic Airport Lounge Access
8 visits annually (max 2 per quarter)
Requires ₹50,000 spend in previous 3 calendar months
Rolling 3-month period (not calendar quarters)
Example: For March access, spend ₹50,000 Dec-Feb
Value: ₹12,000-₹16,000 annually
How to Access
Present card and boarding pass
₹1-₹2 charge auto-reversed
Access subject to capacity
No international lounge access provided
30% Discount (Max ₹150)
Twice per calendar month
Minimum order: ₹200
Promo code: AXISIOCL
Optimal Usage
₹500 order = ₹150 discount (30%)
₹700 order = ₹150 discount (21.4%)
Maximum monthly: ₹300 (2 orders)
Maximum annual: ₹3,600
Up to 25% Restaurant Discount
Premium restaurants via EazyDiner partnership
Priority reservations
Chef's specials
Complimentary beverages at select locations
Major cities: Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune
Weekly Wednesday Offers
Dining, entertainment, shopping, lifestyle
Rotating promotions
Check Axis Bank offers portal weekly
1% Unlimited Waiver
All IOCL fuel transactions
No monthly cap or transaction limit
GST on surcharge non-refundable
Combined with 4% rewards = 5% total value on fuel up to ₹15,000/month
| Fee Type | Amount | Details |
|---|---|---|
| Joining Fee | ₹1,000 + GST (~₹1,180) | One-time charge when issued. |
| Annual Fee | ₹1,000 + GST (~₹1,180) | Waived on ₹30,000 annual spend (excludes wallet, rent, insurance). |
| Add-on Card Fee | ₹250 + GST (~₹295) | Per add-on card annually. |
| Interest Rate (APR) | 3.49% per month (41.88% annually) | On unpaid balances. |
| Cash Advance Fee | 2.5% (min ₹500) | On ATM withdrawals. |
| Cash Advance Interest | 3.49% per month | From transaction date, no grace period. |
| Overlimit Penalty | 2.5% (min ₹600) | When exceeding credit limit. |
| Late Payment Charges | ₹500 - ₹1,300 | Based on outstanding amount. |
| Payment Return Charges | 2% (min ₹450, max ₹1,500) | For dishonoured payments. |
| GST on Fees | 18% | Applicable on all fees and charges. |
| Criteria | Details |
|---|---|
Age | 18-70 years |
Citizenship | Resident of India |
Employment | Salaried or self-employed |
Income | Minimum ₹3 lakhs per annum (indicative) |
Credit Score | Good CIBIL score (ideally 750+) required |
Banking Relationship | Available to new and existing Axis Bank customers |
| Document Type | Details |
|---|---|
| Identity Proof | Aadhaar Card, PAN Card, Passport, Driving Licence, or Voter ID Card |
| Address Proof | Aadhaar Card, Passport, Driving Licence, Voter ID Card, or Utility Bill (not older than 3 months) |
| Income Proof (Salaried) | Latest 3 months' salary slips, Bank statements (6 months), or Form 16 |
| Income Proof (Self-Employed) | Income Tax Returns (last 2 years), Bank statements (6 months), Business registration documents, or Financial statements |
| Mandatory | PAN Card (mandatory as per RBI guidelines) and Recent passport-size photographs (2-3 copies) |
Step 1: Click on Apply Now Hit the "Apply Now" button to start your application.
Step 2: Fill in Your Details Enter your personal information, including name, date of birth, contact details, employment information, and financial details in the application form.
Step 3: Upload Required Documents Upload scanned copies of your PAN Card, Aadhaar/Address Proof, Income Proof, and a recent photograph.
Step 4: Submit Your Application Carefully review all the details you've entered for accuracy and click the Submit button.
Step 5: Approval & Card Delivery Once your application is approved after verification, your IndianOil Axis Bank Premium Credit Card will be dispatched to your registered address within 7-10 working days.
| Usage Tips | Details |
|---|---|
Maximise IOCL Fuel Purchases | Always refuel at IndianOil outlets to earn 6 EDGE Miles per ₹150 (4% back) on up to ₹15,000 monthly. Avoid non-IOCL stations as they earn only 1 EDGE Mile per ₹150. |
Monitor Monthly Caps | Track fuel spending to stay within ₹15,000/month accelerated cap and grocery spending within ₹5,000/month cap for maximum rewards. |
Combine Fuel Waiver + Rewards | Enjoy 1% unlimited fuel surcharge waiver plus 4% rewards = 5% total value back on IOCL fuel up to ₹15,000 monthly. |
Qualify for Lounge Access | Ensure ₹50,000 spend in any rolling 3-month period to unlock 2 quarterly domestic lounge visits (8 annually). |
Utilise Zomato Offers | Order food twice monthly at ~₹500 per order to maximise the ₹150 discount, saving ₹3,600 annually. |
Strategic Grocery Shopping | Spend up to ₹5,000 monthly at supermarkets to earn accelerated 2X EDGE Miles. Beyond ₹5,000 reverts to 1X. |
Redeem for Maximum Value | For highest value, redeem EDGE Miles directly for fuel (1:1) or transfer to airlines during bonus promotions (2:1 base, sometimes better). |
Meet Fee Waiver Threshold | Spend just ₹30,000 annually (₹2,500/month) to waive the ₹1,180 annual fee completely. |
Link to UPI | Add card to UPI apps for contactless payments whilst earning EDGE Miles on all UPI transactions. |
Avoid Excluded Categories | Don't use for wallet loading, rent, insurance, utilities as these earn 0 EDGE Miles. Use alternative cards for these. |
Wednesday Delights | Check Axis offers portal every Wednesday for exclusive rotating deals on dining, shopping, entertainment. |
Pay in Full | Always pay full outstanding by due date to enjoy 48-50 days interest-free and avoid 41.88% APR. |
Set Up Auto-Pay | Enable auto-debit for at least minimum amount due to avoid ₹500-₹1,300 late payment charges. |
Track EDGE Miles | Monitor your EDGE account at https://edgerewards.axis.bank.in to check balance and expiry dates (3-year validity). |
Add-on Cards Strategy | Issue add-on cards (₹295 each) to family members. Their spends earn EDGE Miles in your primary account. |
The IndianOil Axis Bank Premium Credit Card is designed for users who want to maximize their credit card benefits effectively.
Disclaimer: The information provided on this page has been gathered from various reliable sources and is intended solely for general informational purposes. As details may change over time, we do not guarantee the accuracy or completeness of the content. Users are advised to verify the information with official or relevant sources before making any decisions or taking action.
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