Key Takeaways

The IndianOil Citi Credit Card (now under Axis Bank) offers 4% value back on fuel purchases at IndianOil outlets, capped at ₹5,000 per month.
Cardholders also get welcome benefits up to 1,250 reward points, 1% value back on online shopping, and fuel surcharge waivers.
The card carries a ₹500 annual fee (waived in the first year) and charges high interest at 3.75% per month, with late payment penalties up to ₹1,200.

The IndianOil Citi Credit Card is beneficiary for people who use cars or any other vehicle frequently. It gives rewards for fuel spending. This way, you can save a little on every refill. Also, please note that this Citi credit card business has now been officially acquired by Axis Bank.

For example, Rahul spends ₹5,000 per month on fuel at IndianOil outlets. With the card’s 4% fuel benefit, he saves ₹200 monthly, or ₹2,400 annually.

Monthly Fuel Spend	Reward Rate	Monthly Savings	Annual Savings
₹5,000	4%	₹200	₹2,400

For people commuting to the offices or colleges using their own vehicle, the IndianOil Citi Credit Card is best for them. Let’s know more about it in this blog.

What is an IndianOil Citi Credit Card?

The IndianOil credit card is for those who regularly buy petrol/diesel at IndianOil (IOCL) outlets. The card is now issued and managed by Axis Bank after Citigroup sold its India consumer business to Axis Bank.

Do you know that after the transaction was completed on March 1, 2023, the credit card name changed to IndianOil Credit Card?

Benefits of the IndianOil Citi Credit Card

IndianOil Citi Credit Card is not a premium card; with it, you can save on fuel and on a few other commodities. Main advantages are a high value-back rate for IOCL fuel and small rewards for online shopping and entertainment. The table given below gives details on the benefits:

Benefit	What it means
Welcome benefit	Get up to 1,250 EDGE reward points on your first fuel transactions within 30 days of issuance.
Fuel value-back	4% value back at IOCL outlets (shown as 20 reward points per ₹100). Monthly eligible cap applies (maximum eligible fuel spends ₹5,000 / month).
Online shopping reward	1% value back on online spends (5 reward points per ₹100), with a monthly cap on eligible online spends.
Fuel surcharge waiver	Fuel surcharge waiver of 1%. Spend on any fuel outlet from ₹400 to ₹4,000. Maximum ₹50 can be waived.
Fees & waiver	Joining Fee: ₹500; Annual Fee: ₹500
Other perks	Edge Rewards redemption platform, movie offers and small lifestyle discounts

So, you not only save on fuel, but also on online shopping and entertainment with the IndianOil Citi Bank Credit Card.

IndianOil Citi Credit Card Cashback & Rewards

Rewards are expressed as “value back” via the EDGE REWARDS scheme. Here, points earned convert to value when redeemed. The strongest return is on fuel at IOCL outlets. This table will give you details on cashback and rewards:

Category	How you earn (points / ₹100)	Approx. value-back	Limits/transaction rules
Fuel at IOCL	20 points / ₹100	4% value back	Eligible transactions ₹400-₹4,000; maximum eligible fuel ₹5,000 / month.
Welcome / Activation	Up to 1,250 EDGE points	One-time value shown in the chart	Use first fuel transactions within 30 days of card issuance
Online shopping	5 points / ₹100	1% value back	Eligible transactions ₹100-₹5,000. Maximum eligible online ₹5,000 / month
Base / Other spends	1 point / ₹100 (token earn)	Very small value	Many categories excluded (govt, education, insurance, rent, gold/jewellery)

Check the EDGE offers and the site’s value-chart with your actual spends to see the exact BookMyShow / movie benefit you’ll get.

IndianOil Citi Credit Card Fees & Other Charges

Below are the standard fees listed for the IndianOil Citi credit card.

Item	Charge / Rule
Joining fee	₹500
Annual fee	₹0 (1st year); ₹500 (2nd year onwards)
Add-on card fees	Joining: Nil, Annual: Nil
Finance charges (interest on outstanding)	3.75% per month (≈55.55% p.a.)
Cash withdrawal fee	2.5% of the amount (Minimum ₹500)
Reward redemption fee	₹99 per redemption on EDGE REWARDS
Foreign currency transaction fee	3.5% of transaction value
Rent transaction fee	1% + taxes
Other administrative fees	Card replacement: Nil; Duplicate statement: Waived; Charge slip retrieval: Waived
GST	As applicable

The IndianOil Citi card has normal joining/annual fees but higher finance/withdrawal charges. Also, the redemption fees are high.

Late Payment Fee Applicable on IndianOil Citi Credit Card

Late payment fee depends on how large the Total Payment Due is on your statement. Below are the exact slabs and rules.

When	Late / Overdue Charge	What it means
If Total Payment Due < ₹500	Nil	No late fee if your total due is under ₹500 for that statement.
If Total Payment Due is between ₹501-₹5,000	₹500	Missed full payment in this band = ₹500 penalty.
If Total Payment Due is between ₹5,001-₹10,000	₹750	Higher penalty for larger unpaid dues.
If Total Payment Due > ₹10,000	₹1,200	The maximum slab is shown for big unpaid dues.
Repeated MAD non-payment	Additional ₹100 if the Minimum Amount Due is not paid for two consecutive cycles (applies until MAD is cleared)	Extra recurring ₹100 penalty on top of the slab if you miss the minimum due for two billing cycles in a row.
Over-limit penalty	2.5% of over-limit amount (Minimum ₹500)	If you exceed your card limit, an extra penalty applies.

Avoid paying the late fee and pay all the fees on time.

IndianOil Citi Credit Card Pros & Cons

Before making any decision, weigh both sides of the coin. Here are the pros and cons of the IndianOil Citibank Credit Card:

Pros	Cons
Earns 4% value back on fuel spent at IndianOil petrol pumps (up to ₹5,000 per month).	Cashback on fuel is capped at ₹5,000 per month, and online shopping cashback is also capped at ₹5,000 per month.
Provides 1% value back on online shopping transactions.	Every cashback redemption has a ₹99 charge, which reduces the actual benefit.
Offers benefits on movie ticket bookings through BookMyShow.	Interest charges are very high at 3.75% per month (≈ 55% annually).
Gives 1% fuel surcharge waiver limited to ₹50 per monthly statement cycle.	Late payment fee can go as high as ₹1,200, with an additional penalty if dues are missed repeatedly.
Provides a welcome bonus of 1,250 reward points worth about ₹250.	Foreign currency transactions attract a charge of 3.5%, which cancels out any reward benefit.
Annual fee of ₹500 is waived if yearly spending is more than ₹3,50,000.	Several categories are excluded from earning rewards, such as rent payments, insurance premiums, wallet loads, education fees, and jewellery purchases.
Offers free add-on cards without any administrative charges.	Cash withdrawals are expensive with a 2.5% fee (minimum ₹500) and interest charged from the first day.

This card is best if you use it for regular fuel and online spending. However, it won’t be of much use if your major concern is caps and high charges.

Documents Needed for the IndianOil Citi Credit Card Application

To apply for the IndianOil Citi Credit Card, you must provide the following:

Identity Proof: A copy of your PAN card or Form 60.
Income Proof: Recent salary slips, IT return, or Form 16.
Address Proof: One of the following - Driving Licence, Passport, Ration Card, or Electricity Bill.

Keeping these documents handy will make the application process faster and easier.

Steps to Apply for the IndianOil Citi Credit Card

You can apply for the IndianOil Citi Credit card online or visit the branch too. Below, we have explained both ways:

1. Offline Method

It includes visiting the branch. The steps are:

Visit your nearest Axis Bank branch.
Request the IndianOil Citi Credit Card application form from the bank representative.
Fill in the required details and attach photocopies of ID, address, and income documents.
Submit the form to the representative and wait for verification and approval.

After approval and verification, you will get your credit via mail. So keep your registered number active.

2. Online Method

You don’t need to visit any branch. Make sure you have a stable internet connection and a good device. The steps are:

Go to the official Axis Bank website.
Under the "Helping you meet your life goals" section, select "Credit Card."
Click on the "How to Apply" option and then choose "Apply for Credit Card."
Select "Yes" if you are an existing Axis Bank customer; otherwise select "No."
Enter the necessary details and choose the IndianOil Citi Credit Card.
Complete the online form and submit it.

With the online method, you can apply directly without visiting the branch.

Conclusion

The IndianOil Citi Credit Card is best suited for regular commuters who use their own vehicles and have high fuel consumption. It surely offers good rewards on fuel purchase, online shopping, booking tickets and basic lifestyle needs. However, the charges are really high. Because of it, you won’t feel like using it everywhere.

FAQs

Can the IndianOil Citi Credit Card be linked to UPI for payments?
Currently, most credit cards are being integrated with UPI. Users should check Axis Bank updates to confirm if IndianOil Citi is enabled.

Does the IndianOil Citi credit card offer lounge access or travel-related perks?
No lounge access or travel rewards are listed for this card. It is focused on fuel and basic lifestyle benefits only

Can add-on cardholders earn the same reward benefits?
Yes, add-on card usage contributes to the primary account’s reward accumulation. The same caps and limits apply across both cards combined.

Do reward points expire, and what’s their validity?
In Axis Bank’s EDGE Rewards, points expire after 3 years from the date they are earned.

Is the card accepted overseas, and does it support contactless/tap-to-pay?
Most cards with international network branding (Visa/Mastercard) work abroad. Contactless capability depends on your specific card variant. See Axis Bank’s Contactless FAQs.

How do I raise a disputed transaction or request a chargeback?
You must report disputes to the bank immediately, submit transaction details and supporting evidence, and the bank will investigate under their dispute resolution policy.

Can I get business/GST-ready consolidated statements or CSV exports?
Axis Bank allows downloading e-statements / CSVs for reconciliation. Request a GST-friendly or consolidated statement through your relationship manager or card helpline.