IndianOil HDFC Bank Credit Card: The IndianOil HDFC Bank Credit Card a co-branded credit card launched in collaboration with the Indian Oil Corporation and HDFC Bank, which can be used for purchasing fuel at Indian Oil Petrol pumps. This credit card is designed for the people who prefer their own transport for travelling around the city.
This card offers a huge range of features and benefits, especially in the fuel category along with others as well. Along with generous ‘Fuel Points’ earning every month, you can get up to 50 liters of free fuel annually. The IndianOil HDFC Bank credit card comes with an annual fee of Rs.500 and a monthly interest rate of 3.49%.
Also, there is one more bank which offers similar credit card named as ‘IndianOil Axis Bank Credit Card’ by Axis Bank in partnership with the Indian Oil Corporation Limited, which can be considered a strong competitor to IndianOil HDFC Bank Credit Card.
Contents
IndianOil HDFC Bank Credit Card
1. Features and Benefits:
The IndianOil HDFC Bank Credit Card other than fuel advantages, provides some exclusive benefits to the cardholders on other categories as well.
Here we have mentioned the features and benefits offered by the IndianOil HDFC Bank Credit Card:
Fuel Benefits: Through this credit card, you can earn up to 50 litres of free fuel every year.
- At IndianOil outlets as Fuel Points, you can earn 5% of your spends i.e., max. 250 Fuel Points per month, in first 6 months and max. 150 Fuel Points post 6 months from card issuance.
- And on groceries, and bill payments, you can get 5% of your spends as Fuel Points i.e., Max. 100 Fuel Points per month on each category.
- On all other purchases, 1 Fuel Point for every Rs. 150 spent.
- On all fuel transactions exceeding Rs. 400 at all fuel stations across India, 1% fuel surcharge is waived.
Reward Redemption: You can use the Fuel Points accumulated against a host of redemption options under the IndianOil XTRAREWARDS Program.
The Redemption Method you can use with the value of each fuel points is:
- IndianOil XTRAREWARDS Program (IXRP)- 1 Fuel Points = Rs 0.96
- Through Product Catalogue- 1 Fuel Point = Rs 0.20
- Against Statement Cash- 1 Fuel Point = Rs 0.20
Other Benefits:You can also avail below benefits via HDFC IOCL Credit Card, Along with fuel benefits:
- Validity of Fuel Points: The fuel points earned with this credit card are valid for two years from the date of accrual.
- Fuel Surcharge Waiver: On your fuel transactions (Max. of Rs. 250 per statement cycle), cardholders will get a fuel surcharge waiver of 1%, at fuel pumps all over India. This is applicable on a minimum transaction value of Rs. 400.
- Renewal Offer: If your annual spends exceed Rs. 50,000 in a year, renewal fee of Rs.500 will be waived.
- Interest-free Credit Period: From the date of purchase, you get up to 50 days of interest-free period on your IndianOil HDFC Bank Credit Card.
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2. Fees and Charges:
- The joining fee for the IndianOil HDFC Bank Credit Card- Rs. 500.
- The Annual fee or Renewal fee charges are- Rs. 500 (waived off on spending Rs. 50,000 in the previous year).
- The Minimum repayment amount on the credit card is, 5% of the total outstanding amount subjected to a minimum of Rs.200.
- For Reissue of lost, stolen or damaged card- Rs.100.
- On all the Foreign currency transaction, you have to pay 3.5% of the amount transacted.
- Late Payment Charges are- For Statement Balance: Less than Rs. 100: Nil, Between Rs. 100 to Rs. 500: Rs. 100, Between Rs. 501 to Rs. 5,000: Rs. 500, Between Rs. 5,001 to Rs. 10,000: Rs. 600, Between Rs. 10,001 to Rs. 25,000: Rs 800, Between Rs. 25,001 to Rs. 50,000: Rs. 1,100, and for Above Rs. 50,000: Rs. 1,300.
- As the cash advance fee at HDFC Bank ATMs or other ATMs, the card charges 2.5% of the transaction amount or Rs. 500 and also, for Cash advance fee at international ATMs.
3. Eligibility Criteria to Apply:
The common eligibility criteria and the documents required to apply for IndianOil HDFC Bank Credit Card are as follows:
- The age limit for applying for this card is 21-60 years of age for salaried employees and 18-65 years of age for Self-Employed Individuals.
- The cardholder should be an Indian resident.
- The cardholder should have a stable source of income either through salary i.e., should earn a minimum of Rs. 1,20,000 annually or if self-employment i.e., should be filling an ITR of a minimum of Rs. 6,00,000 annually.
- For Identity Proof documents you need are Aadhar Card, Voters Id, PAN Card, Passport, Driving License.
- For Address Proof, Utility bills of the latest months, Aadhar Card, Passport, and Ration card are the needed documents.
- For Income Proof, you need to submit the latest bank statement as a salaried person, and can also, submit your company ID card, if you are salaried, and if you are self-employed, you should submit your latest ITR.
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4. How to Apply for IndianOil HDFC Bank Credit Card :
For IndianOil HDFC Bank Credit Card you can apply either online or offline. For offline mode, you can visit your nearest HDFC Bank branch with all the required documents and fill out the physical application form.
Here are the steps to be followed to apply for your IndianOil HDFC Bank Credit Card:
- Step 1: Visit Official website of the HDFC Bank- www.hdfcbank.com
- Step 2: Click on ‘Credit Cards’ option, under the section ‘Borrow’.
- Step 3: Next, you will be redirected to a new page where all the HDFC Bank credit cards have been categorized.
- Step 4: You have to choose the ‘IndianOil HDFC Bank Credit Card’ option, under the category ‘Fuel’ and then click on ‘Apply online’.
- Step 5: Enter all the requested details and providing the required documents.
This the way in which you can apply for IndianOil HDFC Bank Credit Card online.
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