Axis Bank
IndianOil Axis Bank Premium Credit Card
Annual Fee
₹1,180₹1,000 + GSTBase Reward
1% points
Foreign Markup
3.5%
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.
Category Rewards
fuel
6 EDGE MILES
6X
grocery
2 EDGE MILES
2X
Fee Waiver
Annual fee waived off on spends of ₹30,000 and above
Merchant-Specific Rewards
1 pt ≈ ₹0.25–₹0.50
registered IndianOil fuel pumps
★ 6X EDGE Miles at IndianOil (IOCL) outlets
Reward Calculator
Earns ₹1,060/year (net)
Modest gain. Solid hold if you like the perks.
₹13K
across all your buckets
2.2K
Axis EDGE Miles
₹2.2K
via standard
Effective rate
1.44%
Annual fee
₹1,180
Year 1 net
+₹1,060
Year 2+ net
+₹1,060
ongoing
Adjust your spend by reward bucket
2 bucketsSurcharges & Exclusions
Watch-outs that quietly erode your effective rewards. Categories listed as “excluded” earn 0% even if the merchant looks normal.
Rent payment surcharge
1%Charged on every rent transaction via CRED / NoBroker / Magicbricks / etc.
Wallet load surcharge
1%Kicks in after ₹10,000 cumulative wallet loads/cycle (Paytm, PhonePe, Mobikwik)
Utility payment surcharge
1%Kicks in after ₹25,000 cumulative utility spends/cycle
Foreign exchange markup
3.5%Charged on every international (non-INR) transaction
Excluded from rewards
transportation, utility, insurance, education, government, wallet, rent, emi, cash advance
Fuel surcharge waiver (good news)
1%Surcharges are typically charged 1 cycle after the transaction and may include GST. Always confirm with the bank's most recent T&C.
Rewards Details
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.
- EDGE Miles can be redeemed for fuel (1 EDGE Mile = ₹1).
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.
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
Partner Merchants
Ready to apply?
Apply directly on the bank's official website. Quick approval, no hidden steps.
Apply NowOfficial bank website · Secure
Fees & Charges
Eligibility
Min Age
18 yrs
Networks
Fee Waiver
Annual fee waived off on spends of ₹30,000 and above