IndianOil Axis Bank Premium Credit Card
Axis Bank
Annual Fee
₹1,000
Joining Fee
₹1,000 + GST
Base Reward
1% points
Foreign Markup
3.5%
Fee Waiver
Annual fee waived off on spends of ₹30,000 and above
Interest Rate
3.75% per month (55.55% annually)
Welcome Benefits
500 EDGE MILES on your first spend within 30 days of card issuance
Product Highlights
- Earn 6 EDGE MILES for every ₹150 spent at IndianOil outlets.
- 2 EDGE MILES for every ₹150 spent on groceries and supermarkets.
- Free airport lounge access with spending criteria.
Rewards
Earn 6 EDGE MILES on every ₹150 spent at any IOCL fuel outlet in India. Earn 2 EDGE MILES on every ₹150 spent on Grocery & Supermarket spends. Uncapped base earn of 1 EDGE MILE on every ₹150 spent.
Redemption
EDGE Miles can be redeemed for fuel (1 EDGE Mile = ₹1).
Category Rewards
| Category | Reward Rate | Monthly Cap |
|---|---|---|
fuel | 6%(6 EDGE MILES) | No cap |
grocery | 2%(2 EDGE MILES) | No cap |
Merchant-Specific Rewards
| Merchant | Reward | Context |
|---|---|---|
| IndianOil | 6 EDGE MILES(Uncapped) | offline |
| Grocery & Supermarkets | 2 EDGE MILES(Uncapped) | offline |
| Zomato | 30% Discount(Max ₹150 discount per order) | online |
Benefits & Features
Domestic: 2 complimentary visits each quarter (Spend ₹50,000 or more in the previous three months required for activation) Complimentary lounge access on ₹50,000+ spend in the previous three months. Without spend criteria, lounge access is not available.
Fees & Charges
Eligibility
Min Age
18 years
Max Age
70 years
Available Networks
Pros & Cons
Pros
- High 6 EDGE MILES on fuel purchases at IndianOil outlets.
- 30% discount on Zomato orders.
- Annual fee waiver on ₹30,000 spend.
Cons
- Complimentary lounge access requires ₹50,000 spend in the previous three months.
- Limited to specific categories for accelerated rewards.
Additional Info
Important: EDGE MILES expire after 2 years from earning date.
Transactions for rent, wallet, and insurance payments do not count towards the spend threshold for the annual fee waiver.
Complimentary lounge access is limited to 2 visits per quarter and requires a minimum spend.
Excluded Categories