IndianOil HDFC Bank Credit Card Review
At a Glance
| Joining Fee | ₹500 + GST (₹590 all-in) |
| Annual Fee | ₹500 + GST (₹590 all-in), waived on ₹50,000 of spends a year |
| Best Suited For | Two-wheeler and car owners who fill up at IndianOil pumps every month |
| Reward Type | Fuel Points, best redeemed as free fuel at IndianOil outlets |
The IndianOil HDFC Bank Credit Card is HDFC’s fuel co-brand with Indian Oil Corporation (IOCL). It pays 5% back as Fuel Points at IndianOil pumps, on groceries and on bill payments, and 1 Fuel Point per ₹150 elsewhere.
HDFC advertises up to 50 litres of free fuel a year. That figure is real, but only if you use all three 5% categories, hit their monthly caps and redeem points for fuel rather than cashback.
Get the redemption wrong and the same points are worth a fifth as much. Here is how the numbers actually work.
Rewards & Benefits
Reward rate and earn structure
| Spend category | Fuel Points | Monthly cap |
|---|---|---|
| IndianOil pumps and outlets (card swipe on IOCL machines) | 5% | 250 FP in the first 6 months, 150 FP after that |
| Groceries | 5% | 100 FP |
| Bill payments (utility and telecom) | 5% | 100 FP |
| Other spends, including UPI on the RuPay variant | 1 FP per ₹150 | No cap stated |
The fuel cap is the one to watch. After six months, 5% at IndianOil stops at 150 Fuel Points a month, which you reach on ₹3,000 of fuel. Groceries and bills each stop at 100 points, reached on ₹2,000 of spends.
Grocery and bill transactions must be at least ₹150 each, and HDFC counts them by Merchant Category Code (MCC), the code your payment carries.
Only fuel swiped on IOCL’s own terminals earns 5%, so fuel paid by UPI or at another brand’s pump does not.
Rent, government payments, tax, insurance, wallet loads, EMI, jewellery and cash advances earn nothing.
Redemption and point value
| Redeem for | Value of 1 Fuel Point | Rules |
|---|---|---|
| Free fuel via IndianOil XTRAREWARDS | ₹0.96 | Minimum 500 FP, in multiples of 500 |
| Product catalogue | Up to ₹0.20 | ₹99 + GST handling fee |
| Statement cashback | ₹0.20 | Minimum 12,500 FP, ₹50 fee |
Each Fuel Point converts to 3 XTRAREWARDS Points (XRP) worth ₹0.32 each, so 1 FP = ₹0.96 in fuel. Redeeming 500 Fuel Points gives ₹480 of fuel.
That makes the 5% categories worth about 4.8% in fuel, but only 1% as statement cashback. The base rate of 1 FP per ₹150 works out to 0.64% in fuel. Points expire two years after you earn them.
Welcome, activation and fuel benefits
| Welcome benefit | Complimentary IndianOil XTRAREWARDS Program (IXRP) membership |
| Activation benefit | ₹250 voucher after at least one transaction within 37 days of issue |
| Fuel surcharge waiver | 1% on ₹400 to ₹5,000 transactions, up to ₹250 per statement cycle |
| PayZapp | Extra cashback on bills and recharges when the card is linked (rate not published) |
HDFC’s own value chart shows the 50-litre claim: ₹5,000 of IOCL fuel, ₹3,000 of groceries, ₹3,000 of bills and ₹12,000 of other spends a month earn 430 Fuel Points, or 5,160 a year.
Redeemed as fuel, that is ₹4,954, which is 50 litres at ₹100 a litre. There is no lounge access or milestone benefit on this card.
Fees & Charges
| Item | Charge |
|---|---|
| Joining fee | ₹500 + GST |
| Annual fee | ₹500 + GST |
| Renewal waiver | Spend ₹50,000 in the previous year |
| Foreign currency markup | 3.5% |
| Interest (finance charge) | 3.75% a month, 45% a year (MITC) |
| Cash advance | 2.5% of the amount, minimum ₹500 |
| Late payment | Nil up to ₹100 due, then ₹100 to ₹1,300 by balance slab |
| Minimum amount due | 5% of the outstanding or ₹200, whichever is higher |
| Fuel transactions | 1% fee on a transaction above ₹15,000 |
| Rent payments | 1% fee, capped at ₹4,999 per transaction |
| Wallet loads | 1% fee on the total above ₹10,000 a month |
| GST | 18% on all fees, interest and charges |
The ₹50,000 waiver works out to about ₹4,170 a month. HDFC’s value-chart spender puts ₹23,000 a month on the card, so most regular users clear it without trying.
The catch is the fuel cap after six months. In the first half year you can earn 250 points at IndianOil, but from month seven it drops to 150. A household spending ₹6,000 a month on fuel earns 5% on only half of it.
Eligibility & Documents Required
| Applicant | Age | Income |
|---|---|---|
| Salaried | 21 to 60 years | Net monthly income above ₹12,000 |
| Self-employed | 21 to 65 years | ITR above ₹6 lakh a year |
You must be an Indian national. Keep PAN, Aadhaar or passport as identity and address proof, plus recent salary slips, Form 16 or ITR as income proof.
Pros & Cons
| Pros | Cons |
|---|---|
| 5% back at IndianOil, groceries and bills | IndianOil cap falls to 150 FP a month after 6 months |
| 1 FP = ₹0.96 when redeemed as fuel | Only ₹0.20 a point as statement cashback |
| Low ₹500 fee, waived on ₹50,000 a year | Rent, tax, insurance and wallets earn nothing |
| Low income bar of ₹12,000 a month | No lounge access or milestone rewards |
IndianOil HDFC Card vs Competitors
The obvious rivals are other fuel co-brands, such as BPCL SBI Card and Axis Bank’s IndianOil card. Each is tied to one fuel brand, so the right choice is mostly the brand of pump nearest your home or office.
Within HDFC, MoneyBack+ carries the same ₹500 fee and ₹50,000 waiver, and suits you better if you rarely fill up at IndianOil. Compare current rates on each issuer’s site before deciding.
How to Apply
Apply online from HDFC’s IndianOil card page. Enter and validate your mobile number with your date of birth or PAN, confirm your details, select the card and submit.
In some cases HDFC asks you to upload documents or complete video KYC. Once issued, link the card to IndianOil XTRAREWARDS using the mobile number registered with HDFC.
Frequently Asked Questions
Is the IndianOil HDFC card annual fee waived?
Yes, if you spend ₹50,000 or more in the previous year. Otherwise the renewal fee is ₹500 + GST, or ₹590 all-in.
How much free fuel can I get a year?
Up to about 50 litres, according to HDFC’s value chart. That needs roughly ₹23,000 of monthly spends across fuel, groceries, bills and other purchases, redeemed as fuel at ₹0.96 a point.
What is the value of one Fuel Point?
₹0.96 when converted to free fuel at IndianOil, and ₹0.20 as statement cashback. Fuel redemption starts at 500 points.
Do I earn Fuel Points on UPI payments?
Yes, on the RuPay variant, at 1 Fuel Point per ₹150 for eligible categories. Fuel paid by UPI does not get the 5% rate, which needs a swipe on an IOCL terminal.
What is the minimum salary for the IndianOil HDFC card?
A net monthly income above ₹12,000 for salaried applicants. Self-employed applicants need an ITR above ₹6 lakh a year.
Do Fuel Points expire?
Yes, two years after they are earned. Convert them to fuel in blocks of 500 well before then.
Bottom Line
Get the IndianOil HDFC Bank Credit Card if you fill up at IndianOil every month, also put groceries and bills on the card, and will redeem points as fuel.
Spend around ₹4,000 or more a month and the fee is waived while you earn close to 5% back in the capped categories.
Skip it if your nearest pump is another brand, if your fuel bill is far above ₹3,000 a month, since the cap ignores the rest, or if you want plain cashback, because statement redemption is worth only 1%.
