IndianOil RBL Bank Credit Card – Benefits, Fees & Eligibility

IndianOil RBL Bank Credit Card

Introduction

The IndianOil RBL Bank Credit Card is a co-branded credit card offered by RBL Bank and IndianOil, tailored for individuals who frequently purchase fuel at IndianOil outlets. With a joining and annual fee of ₹500, this card provides a high reward rate of 5% on fuel spends at associated petrol pumps, earning 10 Fuel Points for every ₹100 spent. Each Fuel Point is valued at ₹0.50, and the card also offers a 1% fuel surcharge waiver, contributing to a total savings of 6% on fuel expenditure.

Welcome Benefits

• 1,000 Fuel Points

Fees

• Joining Fee: ₹500 + GST
• Renewal Fee: ₹500 + GST
• Spend-Based Waiver: Annual Fee waived on spends of ₹1.75 Lakh in a year.
• Rewards Redemption Fee: ₹99 + GST
• Foreign Currency Markup: 3.5%
• Interest Rates: 2.5% to 3.99% Per Month
• Fuel Surcharge: 1% waiver
• Cash Advance Charges: 2.5% or a Minimum of ₹500

Rewards

• Rewards Rate on Fuel:
  • Earn accelerated 10 Fuel Points for every ₹100 spent at IndianOil fuel stations.
  • A maximum of 1,000 Fuel Points can be earned each month at IndianOil outlets, offering savings of ₹500 per month.
• Rewards Rate on Other Spends:
  • Earn 1 Fuel Point for every ₹100 spent on other eligible purchases/categories like shopping.
• Reward Type: Reward Points
• Best Suited For: Fuel
• Movies & Dining: N/A
• Travel: N/A
• Domestic Lounge Access: N/A
• International Lounge Access: N/A
• Golf: N/A
• Insurance Benefits: N/A

Rewards Redemption Guide

• Fuel Point Value: 1 Fuel Point = ₹0.50.
• Redemption Location: Best form of redemption is at IndianOil fuel stations.
• Redemption Fee: A Rewards Redemption Fee of ₹99 + GST applies.

Card Review

• Pros:
  • Highly advantageous credit card for those who frequently purchase fuel at IndianOil stations.
  • Offers an excellent reward rate of 5% on fuel purchases.
  • Considered one of the best co-branded credit cards for fuel purchases at IndianOil Outlets.
  • Comes at an affordable fee of ₹500, making it suitable for those looking for their first fuel credit card.
  • Potential annual savings of up to ₹6,000 on fuel expenditure.
• Cons:
  • The card does not offer a high reward rate for spending on categories other than fuel.
• Overall Verdict: The IndianOil RBL Bank Credit Card is a dedicated fuel spends credit card that offers significant savings and high rewards specifically for fuel purchases at IndianOil outlets. It's a basic, affordable option for fuel-centric users.

Important Product Details

• This is a dedicated fuel spends credit card.
• Earn accelerated 10 Fuel Points/₹100 at IndianOil fuel stations.
• Get 1 Fuel Point/₹100 for other eligible spends.
• Annual fee can be waived on spending ₹1.75 Lakh in a year.
• Each Fuel Point is valued at ₹0.50 when redeemed at IndianOil stations.
• The card offers a high reward rate of 5% for fuel purchases.
• Includes a 1% fuel surcharge waiver, bringing total savings to 6%.
• Available on the RuPay network and can be easily linked to various UPI applications.

Other Details

• This card is one of two co-branded credit cards offered by RBL Bank and IndianOil; the other being the IndianOil RBL Bank XTRA Credit Card.
• The card is available on the RuPay network, allowing for easy linking to various UPI applications.
• The total savings with this card, including rewards and fuel surcharge waiver, can reach 6%.