M16S / Axis Bank / IndianOil Axis Bank Premium Credit Card
mid · fuel, rewards, cobrand
IndianOil Axis Bank Premium Credit Card
The IndianOil Axis Bank Premium Credit Card costs Rs 1,000 a year, waived if you spend Rs 30,000 in a year. Its base return is 0.67% (1 EDGE Mile per Rs 150, uncapped). Accelerated earn: 6 EDGE Miles per Rs 150 at IOCL fuel outlets; 2 per Rs 150 on grocery and supermarkets. The forex markup is 3.5%. Lounge visits in India: 2 per quarter at select domestic airports. Read from the issuer's documents and an aggregator on 12 Oct 2026.
- Annual fee
- Rs 1,000+ GST
- Fee waived at
- Rs 30,000annual spend
- Base return
- 0.67%
- Forex markup
- 3.5%
- Interest
- 3.75%a month
Apply on axis.bank.inOpens the bank’s own page.
Fees
| Joining fee | Rs 1,000 |
|---|---|
| Annual fee | Rs 1,000 |
| Annual spend that waives the fee | Rs 30,000 |
| Fee notes | Joining/annual fee Rs 1,000 + GST; annual fee waived on spend of Rs 30,000 and above in an anniversary year (issuer page). |
Rewards
| Welcome benefit | 500 EDGE Miles on first spend within 30 days of issuance (first year only) |
|---|---|
| Reward currency | EDGE Miles |
| Base earn | 1 EDGE Mile per Rs 150, uncapped |
| Base return | 0.67% |
| Point value | Re 1 per EDGE Mile on fuel and Pay by Rewards (min 500 miles); Rs 0.25 travel, Rs 0.30 utility/retail via SMS redemption. Transfers 2 EDGE Miles : 1 partner mile. |
| Accelerated earn | 6 EDGE Miles per Rs 150 at IOCL fuel outlets; 2 per Rs 150 on grocery and supermarkets |
| Caps | IOCL 6X on spend up to Rs 15,000 a month, then 1 per Rs 150; grocery 2X on spend up to Rs 5,000 a month, then 1 per Rs 150 |
| Spends that earn nothingunverified | Transportation and tolls, utilities, insurance, education, government, wallet, rent |
| Points expiry | 3 years from earning; all points also lapse after 365 days with no earn, redemption or login (EDGE Rewards T&C) |
| Reward notes | base_return_pct = 1 EDGE Mile per Rs 150 at Re 1 = 0.67%; IndianOil fuel 4% up to the cap. |
Transfers
| Partnersunverified | Accor Live Limitless, Air Canada Aeroplan, Air France-KLM Flying Blue, Air India Maharaja Club, British Airways Club, Cathay, Ethiopian Airlines ShebaMiles, Etihad Guest, Finnair Plus, JAL Mileage Bank, Qantas Frequent Flyer, Qatar Airways Privilege Club, Singapore Airlines KrisFlyer, Thai Royal Orchid Plus, Turkish Airlines Miles&Smiles, United MileagePlus, Vietnam Airlines Lotusmiles, Wyndham Rewards, AirAsia Rewards, Hilton Honors, IHG One Rewards, IndiGo BluChip, Lufthansa Miles & More, Orchid Rewards, The Postcard Sunshine Club, Radisson Rewards, SpiceJet SpiceClub |
|---|---|
| Ratiounverified | 2 EDGE Miles : 1 partner mile. Annual cap 1,00,000 Group A + 4,00,000 Group B. Also 3 EDGE Miles = 10 IOCL XtraRewards points. |
Travel and perks
| Domestic lounge | 2 per quarter at select domestic airports |
|---|---|
| International lounge | None |
| Lounge conditions | Needs Rs 50,000 eligible spend in previous 3 calendar months (from 1 May 2024); waived in issuance month + next 3 months; guests paid |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1% unlimited fuel surcharge waiver at IOCL fuel outlets only (issuer page) |
| Other freebies | Zomato 30% off up to Rs 150 per order on Rs 200+, twice a month (code AXISIOCL); Dining Delights; Wednesday offers |
Charges and eligibility
| Interest per month | 3.75% |
|---|---|
| Late payment fee | Nil up to Rs 500 due; Rs 500 (501-5,000); Rs 750 (5,001-10,000); Rs 1,200 (10,001-50,000); Rs 1,300 above 50,000; plus Rs 100 per cycle if minimum due is missed two cycles running |
| Cash advance fee | 2.5% of amount, min Rs 500 |
| Eligibility | Age 18-70; resident of India. No income figure published. |
| Fine-print notes | Successor to the Citi IndianOil card. Product page read 2026-10-12 confirms fees, waiver, earn rates and monthly caps, lounge, 3.5% forex and 3.75% interest. The page does not list reward exclusions (it only refers to 'excluded MCCs') or transfer terms. Conflicts resolved from issuer page read 2026-10-12: fee_waiver_spend: aggregator fee table said Rs 1 lakh -> issuer page says Rs 30,000 (matches MITC) | forex_markup_pct: was null because MITC text seemed to group the card at 2.5% while aggregator said 3.5% -> issuer page fee table says 3.50% | reward_caps: period of the 6X cap was unknown -> issuer page says per month (Rs 15,000 fuel, Rs 5,000 grocery) |
Questions
- What is the annual fee of the IndianOil Axis Bank Premium Credit Card?
- Rs 1,000 a year, before GST. It is waived if you spend Rs 30,000 in a year.
- Does the IndianOil Axis Bank Premium Credit Card give airport lounge access?
- Yes. In India: 2 per quarter at select domestic airports. Outside India: none listed. Conditions: Needs Rs 50,000 eligible spend in previous 3 calendar months (from 1 May 2024); waived in issuance month + next 3 months; guests paid
- What is the forex markup on the IndianOil Axis Bank Premium Credit Card?
- 3.5% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the IndianOil Axis Bank Premium Credit Card?
- Transportation and tolls, utilities, insurance, education, government, wallet, rent