IndianOil HDFC Bank Credit Card Review: 5% Fuel Points, Small Caps

The IndianOil HDFC Bank Credit Card returns 5% as Fuel Points at IndianOil pumps, on groceries and on utility bills, but once the card is six months old the caps hold those three buckets to 350 points a month. A Fuel Point is worth ₹0.96 only when you redeem it for fuel at IOCL, and the ₹500 plus GST fee is waived on ₹50,000 of yearly spends, so it suits a household that fills up at IndianOil and pays its bills on one card.

By Rashmi Mandana · Content Writer Updated 5 November 2026 Reviewed by BankCreds Financial Experts

Key facts

Joining fee: ₹500 + GST
Annual fee: ₹500 + GST. Renewal fee waived on annual spends of ₹50,000
Base reward: 1 Fuel Point for every ₹150 spent on other categories, including UPI...
Best category: IndianOil fuel pumps and outlets: about 5% value
Lounge: Domestic: None International: None
Forex markup: 3.5% of the amount
Network: RuPay

Apply on HDFC Bank's site

Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.

In short

A low-cost fuel card that is worth keeping if you fill up at IndianOil and redeem points as free fuel, though its caps keep the yearly value modest.

Best for

Drivers spending about ₹3,000 a month at IndianOil pumps
Households with ₹2,000 a month each of groceries and utility or phone bills
First-time applicants with gross monthly income above ₹12,000

Skip it if

You fill up at other fuel brands, where the 5% does not apply
You want lounge access or travel benefits, which the card does not offer
You would take points as cashback, worth only ₹0.20 each

Highlights

Joining and renewal fee ₹500 plus GST each
Renewal fee waived on ₹50,000 of spends in a year
5% as Fuel Points at IOCL, on groceries and on bills
1 Fuel Point is worth ₹0.96 as free fuel at IOCL
RuPay card that can be linked to UPI

IndianOil HDFC Bank card: a fuel card with three 5% buckets

This is HDFC Bank's co-brand card with IndianOil (IOCL), issued on RuPay, so it can be linked to UPI too. The name says fuel, but it actually pay 5% as Fuel Points in three places: IOCL pumps and outlets, grocery stores, and utility and telecom bills. Everything else, UPI payments included, earns 1 Fuel Point per ₹150. The card is active and HDFC is taking applications.

HDFC's headline talks of up to 50 litres of free fuel a year. We work in rupees instead, since the price of a litre keep changing.

The three things that decide its value

Caps that shrink. For the first 6 months the IOCL bucket allows 250 Fuel Points a month, after that only 150. Groceries and bills are held to 100 each. So the 5% buckets pay at most 450 points a month early on (250 plus 100 plus 100) and 350 later (150 plus 100 plus 100).
Where you redeem. A Fuel Point fetch ₹0.96 as free fuel at IOCL but only ₹0.20 as cashback, nearly five times less.
An easy waiver. The ₹500 plus GST fee goes away on ₹50,000 of spends in a year.

Changes between 2024 and 2026

From 1 August 2024 HDFC charges ₹50 on each cashback redemption and 1% on rent, which was then capped at ₹3,000 a transaction; on 1 July 2025 that cap rose to ₹4,999. The 15 May 2026 round left the IOCL earn rates untouched, but it did added a 1.75% markup on rupee payments abroad and a ₹199 reissue fee. HDFC don't confirm a Visa version or any insurance cover, so don't count on either.

What the IndianOil HDFC card costs

Joining and renewal fees are ₹500 each with GST on top, so ₹590 at 18% (₹500 plus ₹90). The first-year fee is billed on the 120th day after issue, which gives you about four months to see if the card earn its keep. Add-on cards are free.

The ₹50,000 waiver in monthly terms

The renewal fee is waived once a year's spends reach ₹50,000, roughly ₹4,167 a month (₹50,000 divided by 12), which the grocery and phone bills of one household can covers alone. The product page calls it a first-year condition while the MITC states it per annum. We follow the MITC, so the waiver should repeat each year you hit the number.

Interest, late fee and cash

Revolving costs 3.75% a month, 45% a year, plus GST. ₹10,000 left unpaid for 30 days runs up about ₹370 of interest (₹10,000 times 45% times 30, divided by 365). The late fee is ₹600 on a bill of ₹1,001 to ₹5,000 and ₹750 on ₹5,001 to ₹10,000, topping out at ₹1,300, GST extra, and it comes only after 3 grace days past the due date.

Cash advance: 2.5% or ₹500, whichever is higher, plus interest from the day of withdrawal.
Forex: 3.5% plus GST, and 1.75% on rupee payments to merchants abroad since 15 May 2026.
Fuel: the surcharge waiver refunds 1% on fills of ₹400 to ₹5,000, up to ₹250 a statement cycle, so a ₹3,000 fill gets ₹30 back. A single fill above ₹15,000 draws 1% on the whole amount, capped at ₹4,999.
Rent 1% a transaction, capped at ₹4,999, and rent earn no points. Utilities 1% once a month passes ₹50,000; wallet loads (not PayZapp) and online gaming 1% above ₹10,000 a month.
Railway tickets 1% plus GST, since only the IRCTC card skips that charge. Reissue ₹199.

IndianOil: fees and charges

Joining fee	₹500 + GST
Annual or renewal fee	₹500 + GST
Annual fee waiver	Renewal fee waived on annual spends of ₹50,000
Add-on card fee	Nil
GST	Charged on top of the fees and charges listed
In the bank’s words	Joining Fee: ₹500 plus Applicable Taxes; Renewal Fee: ₹500 plus Applicable Taxes
Interest on unpaid balances	Up to 3.75% a month (45% a year)
Late payment fee	Late payment charges (excl. GST), basis the bill amount, w.e.f. 1 Aug 2024: nil up to ₹100; ₹100 for ₹101 to ₹500; ₹500 for ₹501 to ₹1,000; ₹600 for ₹1,001 to ₹5,000; ₹750 for ₹5,001 to ₹10,000; ₹900 for ₹10,001 to ₹25,000; ₹1,100 for ₹25,001 to ₹50,000; ₹1,300 above ₹50,000. Charged when the Minimum Amount Due is not paid; account is reported past due and late fee levied only after 3 grace days from the due date.
Cash withdrawal	2.5% of the amount withdrawn or ₹500, whichever is higher, plus finance charges at the revolving rate from the date of withdrawal until full payment.
Over-limit fee	2.5% of the over-limit amount, minimum ₹550, only with the cardholder's explicit consent.
Forex markup	3.5% of the amount
Other fees	Rent payments: 1% of the transaction amount on any applicable merchant, capped at ₹4,999 per transaction (w.e.f. 1 Jul 2025). Fuel: 1% on the whole amount of a fuel transaction above ₹15,000 (consumer cards), capped at ₹4,999 per transaction. Utilities: 1% on total utility spends when they exceed ₹50,000 in a calendar month, capped at ₹4,999 per month (insurance is not treated as utility). Education: 1% on payments through third-party apps such as CRED, NoBroker, Cheq, capped at ₹4,999 per transaction; direct payments to the school or college website or POS and international education are not charged. Wallet loading (excluding PayZapp): 1% on total wallet loads when they exceed ₹10,000 in a calendar month, capped at ₹4,999 per month (w.e.f. 1 Jul 2025). Online skill-based gaming: 1% on total gaming spends when they exceed ₹10,000 in a calendar month, capped at ₹4,999 per month (w.e.f. 1 Jul 2025). Railway ticket purchases: 1% of the transaction amount + GST (all cards other than IRCTC). Dynamic currency conversion markup: 1.75% on transactions in Indian rupees at an international location or with merchants located in India but registered overseas (w.e.f. 15 May 2026). Card reissue (lost, stolen, damaged or network change): ₹199 for non-metal cards; ₹3,500 for metal cards (w.e.f. 15 May 2026). Payment return: 2% of the payment amount, minimum ₹450. Cash processing fee: ₹100 for card payments deposited in cash at HDFC Bank branches or ATMs. Balance transfer processing: 1% of the amount or ₹250, whichever is higher. EasyEMI processing fee at merchants: up to ₹299 (w.e.f. 1 Aug 2024).

How Fuel Points are earned and what they are worth

Each bucket pays 5% as Fuel Points on transactions of ₹150 or more. The IOCL cap is 250 points a month for the first 6 months, then 150, filled by ₹3,000 of fuel (150 divided by 5%). Groceries and utility or telecom bills are capped at 100 points each, filled at ₹2,000 (100 divided by 5%). Wallet loads, rent, government payments, tax, insurance, EMI and cash advances gets nothing, and fuel above the cap doesn't drop to the base rate, because fuel is excluded from it.

As free fuel at IOCL through XTRAREWARDS a point is ₹0.96, redeemed in lots of 500. As statement cashback it is ₹0.20, with a 12,500-point minimum and a ₹50 plus GST fee; the catalogue and SmartBuy flights or hotels also give ₹0.20, and air miles are listed as a option with no rupee value. So 5,000 points are ₹4,800 as fuel (5,000 times ₹0.96) and ₹1,000 as cashback, which you couldn't even claim. Points last 2 years. Welcome gifts are an XTRAREWARDS membership and a ₹250 voucher for one transaction within 37 days, and there is no milestone apart of the fee waiver.

Three spenders, worked out

All three are past month six, so the IOCL cap is 150. Every point goes on fuel at ₹0.96, and grocery or bill spend above its cap counts as zero, because HDFC's terms don't say it falls back to the base rate.

Per month	Light	Typical	Heavy
IOCL fuel	₹2,000: 100 points	₹3,000: 150 points	₹7,000: 150 points (capped)
Groceries	₹1,500: 75 points	₹4,000: 100 points (capped)	₹8,000: 100 points (capped)
Utility and phone bills	₹1,500: 75 points	₹2,500: 100 points (capped)	₹5,000: 100 points (capped)
Other spends and UPI	₹3,000: 20 points	₹10,500: 70 points	₹30,000: 200 points
Fuel Points a year	3,240	5,040	6,600
Value as IOCL fuel	₹3,110.40	₹4,838.40	₹6,336
Renewal fee	Waived	Waived	Waived

Light, ₹8,000 a month. ₹3,000 of other spends at 1 point per ₹150 is 20 points, so the month makes 270 (100 plus 75 plus 75 plus 20) and the year 3,240 (270 times 12), worth ₹3,110.40 (3,240 times ₹0.96). ₹96,000 of yearly spend (₹8,000 times 12) clears the waiver. In two years this person collect 6,480 points (3,240 times 2), never enough for cashback, so fuel is the only sensible exit.

Typical, ₹20,000 a month. Groceries would earn 200 and bills 125 (5% of ₹4,000 and of ₹2,500), but both stops at 100. 150 plus 100 plus 100 plus 70 (₹10,500 divided by 150) is 420 a month and 5,040 a year (420 times 12), or ₹4,838.40 (5,040 times ₹0.96), about 2% of ₹2,40,000 (₹20,000 times 12).

Heavy, ₹50,000 a month. The caps bites hard here: ₹4,000 of the fuel earns nothing (₹7,000 minus ₹3,000). 150 plus 100 plus 100 plus 200 is 550 a month and 6,600 a year (550 times 12), worth ₹6,336 (6,600 times ₹0.96), just 1.06% of ₹6,00,000 a year (₹6,336 divided by ₹6,00,000, that is ₹50,000 times 12). In year one the higher fuel cap add 600 points (100 times 6), or ₹576 (600 times ₹0.96).

IndianOil: higher-reward categories

Category	Rate	Cap
IndianOil fuel pumps and outlets (IOCL POS terminals)	5% of spends as Fuel Points, about 5% value	Max 250 Fuel Points per month in first 6 months, Max 150 Fuel Points post 6 months from card issuance, month
Groceries (MCC 5411, 5499, 5921, 5462)	5% Fuel Points, about 5% value	Max 100 Fuel Points per month, month
Bill payments (utility and telecom, MCC 4812, 4814, 4900)	5% Fuel Points, about 5% value	Max 100 Fuel Points per month, month

IndianOil: how rewards work

Earned as	Fuel Points (1 Fuel Point = 1 Reward Point)
Base rate	1 Fuel Point for every ₹150 spent on other categories, including UPI transactions
Minimum spend rules	Minimum transaction ₹150 per category
No rewards on	Wallet Rent Government related transactions Supermarkets Tax EMI (all types) Vending machines (miscellaneous foods) Package stores, beer, wine, liquor Bakeries Cash advances and travellers' cheques Insurance Jewellery and fuel excluded from the 1 FP per ₹150 category
Lower rewards on	None published
Value of a point	Free fuel at IOCL pumps (via XTRAREWARDS): 1 Fuel Point (FP) = 3 XTRAREWARD points (XRP); 1 FP = Rs. 0.96; minimum 500 FP, in multiples of 500 Cashback against statement balance: 1 Fuel Point = ₹0.2; minimum 12,500 Fuel Points; ₹50 fee Product catalogue: Upto Rs. 0.2 Airmiles: 0.25 SmartBuy flights and hotels: 0.2; up to 50% of booking
Redemption fee	₹50 per cashback redemption (w.e.f. 1 Aug 2024); ₹99 + taxes per catalogue redemption
Expiry	Reward points valid for 2 years
Welcome benefits	Complimentary IndianOil XTRAREWARDS Program membership ₹250 voucher on at least one transaction within 37 days of card issuance
Milestone benefits	Renewal fee waived on ₹50,000 annual spends
Lounge access	Domestic: None International: None
Fuel surcharge waiver	1% fuel surcharge waiver on transactions of ₹400 to ₹5,000; maximum waiver ₹250 per statement cycle
Insurance cover	Not published by the bank

Who can apply for the IndianOil HDFC card

Salaried applicants should be 21 to 60 years old with gross monthly income above ₹12,000, one of the lowest bars in HDFC's range. Self-employed applicants need an income tax return above ₹6 lakh a year, and their age limit is given in two way: 21 to 60 in the eligibility section, below 65 in the FAQ. If you are self-employed and older than 60 but under 65, confirm with the bank first. The card is for Indian nationals.

HDFC's general document list is identity, address and income proof, which existing customers may not need to submit again. Apply online from the card page or at a branch, and the FAQ says a branch visit isn't mandatory. RBI rules make the bank to give you a one-page Key Fact Statement with the form.

What HDFC weighs

Your own means to repay, and the credit lines you already hold with other lenders, which the RBI's 2025 card Directions require the bank to assess.
Your bureau record. CRIF treats a score above 700 as generally good and Experian uses 750, both on a 300 to 900 scale.
Its own policy, RBI fixes no minimum age or income. A rejection must come with the specific reasons in writing.

This isn't a FD-backed card, so normal income proof applies. Once issued, HDFC have to seek your OTP consent if you don't activate the card within 30 days.

IndianOil: eligibility and documents

Age (salaried)	21 to 60 years
Age (self-employed)	21 to 60 years (eligibility section) or below 65 (FAQ)
Income (salaried)	Gross monthly income greater than ₹12,000
Income (self-employed)	Income Tax Return (ITR) greater than ₹6 lakh per annum
Other conditions	Indian nationals
Documents	Identity proof, address proof and income proof (HDFC Bank general guidance; the card page's document list could not be read) Existing HDFC Bank customers may not need to submit them again
How to apply	Online at applyonline.hdfc.bank.in (Apply Now on each card page), or at an HDFC Bank branch; FD-backed Pixel cards can be applied for in the PayZapp app. HDFC's FAQ says a branch visit is not mandatory.
Card customer care	1800 1600 / 1800 2600 (toll-free in India); +91 22 6160 6161 from outside India

These are the bank's published conditions. Meeting them does not guarantee a card: approval and the credit limit are the bank's decision.

IndianOil HDFC against three other fuel cards

IndianOil Axis Bank Credit Card

The IndianOil Axis Bank card also costs ₹500 plus GST and runs on RuPay. It gives 20 EDGE REWARD Points per ₹100 at IOCL on up to ₹5,000 of fuel a month, at most 1,000 points worth ₹0.20 each, so ₹200 a month (1,000 times ₹0.20) against HDFC's ₹144 after six months (150 times ₹0.96). Its waiver need ₹3,50,000 a year, seven times HDFC's; Axis's card terms and Key Fact Sheet state it, though its MITC fee table leaves it out. See IndianOil HDFC vs IndianOil Axis.

ICICI Bank HPCL Super Saver Credit Card

For HPCL pumps, the ICICI HPCL Super Saver card pays 4% cashback up to ₹200 a month plus the 1% surcharge waiver, and 1.5% more through the HP Pay app. The ₹500 plus GST fee is waived on ₹1,50,000 a year, and ₹75,000 of spend in the previous quarter brings one domestic lounge visit. ICICI asks a monthly income of ₹20,000.

BPCL SBI Card

The BPCL SBI Card costs ₹499 plus GST and gives 13 points per ₹100 at BPCL pumps, up to 1,300 points a statement cycle, with 4 points worth ₹1. That's ₹325 at the cap (1,300 divided by 4), reached at ₹10,000 of fuel, the biggest fuel allowance of the four. Since 1 May 2026 its fee is reversed only on ₹1 lakh a year.

Which one to pick

IndianOil HDFC if you fill under ₹3,000 a month at IOCL and want 5% on groceries and bills too, with the easiest waiver here.
IndianOil Axis if your IOCL fuel runs nearer ₹5,000 a month and you don't mind paying the fee most years.
HPCL Super Saver if an HP pump is closest and you wants cashback rather than points.
BPCL SBI if you burn up to ₹10,000 of fuel a month at Bharat Petroleum.

More options are in our best fuel credit cards list and the fuel cards explainer. You can also see every HDFC Bank credit card, reach HDFC Bank customer care or go back to all credit cards.

IndianOil against similar cards

Term	IndianOil HDFC Bank Credit Card This card	IndianOil Axis Bank Credit Card	ICICI Bank HPCL Super Saver Credit Card	BPCL SBI Card
Bank	HDFC Bank	Axis Bank	ICICI Bank	SBI Card
Joining fee	₹500 + GST	₹500 + GST	₹500 + GST	₹499 + GST
Annual fee and waiver	₹500 + GST. Renewal fee waived on annual spends of ₹50,000	₹500 + GST. Annual fee waived for an anniversary year with eligible spends of INR 3,50,000 or more (rent, wallet loads, EMI, cash, fees, insurance and disputed transactions excluded).	₹500 + GST. Annual fee waived from the 2nd anniversary year if total spends are ₹1,50,000 or more in the previous anniversary year (fee for the subsequent year reversed)	₹499 + GST. W.e.f. 1 May 2026, Annual Fee of Rs.499 for BPCL SBI Credit Card will be reversed upon reaching annual spends of Rs.1 Lakh, revised from existing spends of Rs.50,000.
Base reward	1 Fuel Point for every ₹150 spent on other categories, including UPI...	1 EDGE REWARD Point per INR 100 on other eligible retail spends (about 0.2% value)	2 ICICI Bank reward points per ₹100 on other retail spends...	1 Reward point per Rs (about 0.25% value)
Best category	IndianOil fuel pumps and outlets: about 5% value	Fuel at IndianOil outlets: about 4% value	Utilities and departmental stores: about 5% value	BPCL fuel at BPCL petrol pumps: about 3.25% value
Lounges	Domestic: None International: None	Domestic: None stated International: None stated	Domestic: 1 domestic airport lounge access per quarter (primary) on ₹75,000 spend in the preceding quarter International: None	Domestic: None listed International: None listed
Forex markup	3.5% of the amount	3.5% of the amount	3.5% of the amount	3.5% of the amount
Network	RuPay	RuPay	RuPay	Visa, RuPay
Published minimum income	₹12,000 a month	Not stated on the card page	₹20,000 a month	Stable income; SBI Card says the specific minimum varies by card and does not...
Status	Taking applications	Taking applications	Taking applications	Taking applications

Frequently asked questions

What is the IndianOil HDFC Bank card fee and how is it waived?

The joining fee and the renewal fee are ₹500 each, plus GST, so ₹590 at 18%. HDFC waives the renewal fee when you spend ₹50,000 or more in a year, which is about ₹4,167 a month. The product page ties the waiver to the first year, but HDFC's MITC states it per year, and the MITC is the document we follow.

How much is one IndianOil HDFC Fuel Point worth?

One Fuel Point is worth ₹0.96 when redeemed for free fuel at IndianOil pumps through XTRAREWARDS, in lots of 500 points. As cashback against the statement it is worth only ₹0.20, with a 12,500-point minimum and a ₹50 fee, and SmartBuy flights or hotels also value it at ₹0.20. Fuel Points stay valid for 2 years.

What income do I need for the IndianOil HDFC Bank credit card?

Salaried applicants need gross monthly income above ₹12,000 and an age of 21 to 60. Self-employed applicants need an income tax return above ₹6 lakh a year, and HDFC gives their age limit as 21 to 60 in one place and below 65 in its FAQ. You must be an Indian national, and HDFC decides each application on its own assessment.

Does the IndianOil HDFC card give lounge access or low forex?

No. The card has no domestic or international airport lounge benefit, and foreign currency spends carry a 3.5% markup plus GST. Since 15 May 2026, rupee payments made abroad or to merchants registered overseas also attract a 1.75% conversion markup. It is a card for fuel and household bills in India, not for travel.

Did HDFC's 15 May 2026 changes cut IndianOil card rewards?

No. HDFC kept the IndianOil earn rates unchanged when it moved most of its points cards to earning per ₹200. The same date added a 1.75% markup on rupee payments abroad and a ₹199 fee for reissuing a lost or damaged card. Earlier, from 1 August 2024, HDFC began charging ₹50 for each cashback redemption.

Can I use the IndianOil HDFC Bank card on UPI?

Yes. It is issued on RuPay, and HDFC's terms say UPI transactions earn 1 Fuel Point for every ₹150, the same as other everyday spends. HDFC's MITC limits points on card purchases made through UPI to 500 a calendar month. For fuel, the 5% rate is described for IOCL POS terminals, so check with HDFC before paying at the pump by UPI.

Sources

HDFC Bank: Part I Key Fact Statement cum Most Important Terms and Conditions (MITC), English, Version 4.18; Terms & Conditions – Indian Oil HDFC Bank Credit Card; IndianOil HDFC Bank Credit Card Fees & Charges; Credit Card Fee Waiver Condition (Pricing MID for Oct 2026); IndianOil HDFC Bank Credit Card (product page); IndianOil HDFC Bank Credit Card Fees & Charges (FAQ); IndianOil HDFC Bank Credit Card Eligibility; How to Get a Credit Card in 3 Easy Steps (HDFC Bank blog); Credit Card Customer Care Number & Support

Last verified: 5 November 2026

Written by Rashmi Mandana, reviewed by BankCreds Financial Experts

BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.