HDFC Bank has launched another co-branded card in partnership with Indian Oil Corporation Ltd. and Visa. This card is designed to give you exclusive returns on fuel spend. Let us have a look at what is offered on the card.
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* Renewal fee waiver on spending Rs.20,000 in a year.
- Salaried: Age must be between 21-60 years
- Monthly income should be greater than Rs.10,000
- Self-employed: Age must be between 21-65 years
- ITR is required to be more than Rs.6,00,000
- 5% return on your fuel spends at all Indian Oil outlets.
- 5% return in the form of fuel points on spending using cards at grocery stores and bill payments
- 1 fuel point on spending every Rs.150 on all other retail spends.
5% return on almost all spending is good, but the monthly limits of fuel points capper are very low, 150 points per month.
Features & Benefits
- Fuel Surcharge Waiver: 1% fuel surcharge waiver on spending between Rs.400-Rs.4000
- Fuel points validity: Points will remain valid for 2 years from the date of accumulation.
- Lounge access: Nil
- Interest rate: 2.45%
How To Apply?
You can apply for the card in the following manner:
- You have to visit the get HDFC Bank website to apply for the card.
- Fill up all the information to apply for the card
- Submit all the necessary documents required for the credit card
5% return on almost all spend, however low. maximum cap is time-consuming stuff. But if you spend strategically, then you will earn a good amount of return.
This card is best for those who use their vehicle to travel or for a travel service provider. The travel service providers can earn good rewards by using this card to purchase fuel from Indian Oil.
- Identity Proof:
- PAN Card,
- Aadhar Card,
- Voter’s ID Card,
- Driving License,
- Ration Card
- Address Proof:
- Aadhar card,
- Voter’s ID,
- Ration Card,
- Electricity Bill,
- Lease/Rent Agreement,
- Utility Bills
- Income Proof: Salary Slip of last 6 months
- Bank Statement of last 6 months
- ITR of an annual year
|5% cashback||Low maximum cap|
|Low joining fees|
That is a sound card with a decent reward rate of 5% on fuel spends. Not only this card gives cashback, but it also gives reward points on fuel spends.
Although returns on online shopping are quite low, it is good as compared to other beginner cards. Also, it gives a basic reward for all other spends.
Hence we can say it is a nice beginner card and you can apply for it if you spend more on fuel.
What is HDFC Bank India Oil Credit Card?
Indian Oil HDFC Bank is a fuel credit card that gives a 4% return on fuel transactions.
What is the fees of Indian Oil credit card?
The joining fee for Indian Oil credit card is Rs.500+taxes
How much could be the foreign currency markup on an Indian Oil card?
Foreign currency markup should be 3.50%