Kotak IndianOil Platinum Credit Card

About Kotak IndianOil Platinum Credit Card

Are you tired of watching fuel prices eat into your monthly budget every time you visit the petrol pump? The Kotak IndianOil Platinum Credit Card is designed to put some of that money back into your pocket.

This card offers a straightforward way to save on your daily commute and household expenses. By using this card at IndianOil outlets, you can effectively save up to 5 percent on your fuel bills. For a professional spending ₹5,000 on fuel and ₹10,000 on groceries monthly, this card can generate significant annual savings without any complex procedures. It is a practical tool for anyone who drives daily and wants their regular spends to work harder for them.

Built specifically for commuters and budget-conscious households earning around ₹25,000 per month, this card bridges the gap between fuel savings and daily utility. Because it runs on the RuPay network, you get the added advantage of linking it to your favorite UPI apps for quick merchant payments.

What sets it apart:

• Fuel Savings: You get a 5 percent value back on IndianOil fuel, which is significantly higher than most entry-level cards that offer a flat 1 percent.
• UPI Integration: Unlike many Visa or Mastercard alternatives, this RuPay card lets you earn rewards even on small UPI scans at local shops.
• Broad Utility: It doesn't stop at fuel; you earn accelerated rewards on dining and groceries, which are the two biggest expense categories for most Indian families.

Quick check: To qualify for this card, you should ideally be between 18 and 60 years old with a CRIF score of 720 or higher. A steady monthly income of approximately ₹25,000 is recommended by the bank for the Platinum variant.

Here is why this card might be the right fit for your wallet:

Key Benefits and Features of the Kotak IndianOil Platinum Credit Card

The Kotak IndianOil Platinum Credit Card is packed with features that target your most frequent spending habits. From the moment you activate the card, the savings begin.

Welcome Bonus to Kickstart Your Savings

When you get your new card, Kotak welcomes you with 1,000 Reward Points. To get this, you just need to make a single transaction of ₹500 or more within the first 30 days of the card being issued. Since 1,000 points are worth ₹200, this practically covers nearly half of your first-year joining fee immediately.

Deep Savings at the Petrol Pump

The primary reason to own this card is the fuel benefit. You get a total of 5 percent savings on fuel purchases made at IndianOil outlets. This is broken down as follows:

• 4% Reward Points: You earn 24 Reward Points for every ₹150 spent on fuel. You can earn up to 1,200 Reward Points every statement cycle through this category.
• 1% Surcharge Waiver: On transactions between ₹100 and ₹5,000, the bank waives the standard 1 percent fuel surcharge.

If you spend ₹7,500 on fuel in a month, you maximize your points and save roughly ₹375 monthly, which adds up to ₹4,500 in yearly fuel savings alone.

Accelerated Rewards on Dining and Groceries

Kotak recognizes that food and household essentials are major expenses. You earn 2 percent back as Reward Points in these categories. Specifically, you get 12 Reward Points for every ₹150 spent on dining and grocery shopping. The cap for this benefit is 800 Reward Points per statement cycle for each category. This is a great way to subsidize your weekend dinners or weekly supermarket runs.

The UPI Advantage

Since this is a RuPay card, you can link it to apps like BHIM, PhonePe, or Google Pay. For every ₹150 you spend via UPI, you earn 3 Reward Points (0.5 percent back). While it sounds small, these points add up quickly on the dozens of small transactions we make daily at pharmacies, small vendors, or tea stalls where cards aren't usually accepted.

Fees and Annual Fee Waiver

The card comes with a joining fee of ₹449 and an annual fee of ₹449. However, you don't have to pay the annual fee if you use the card regularly. If you spend at least ₹50,000 in a year, the bank waives the renewal fee for the next year. Given the fuel and grocery benefits, most users will hit this ₹4,200 monthly spending target quite easily.

Reward Redemption Simplified

Every Reward Point you earn is worth ₹0.20. You have multiple ways to use these points through the Kotak Rewards portal:

• Convert them into IndianOil XTRAREWARDS for more fuel.
• Redeem for cashback to settle your credit card bill.
• Buy vouchers or merchandise from the catalog.
• Use them for mobile recharges.

How to Apply for the Kotak IndianOil Platinum Credit Card?

Applying for this card is a straightforward digital process. Follow these steps to complete your application:

1. Visit the official Kotak Mahindra Bank website or use the mobile banking app.
2. Navigate to the Credit Cards section and select the IndianOil Platinum Credit Card.
3. Check your eligibility by entering your age (must be between 18-60 for salaried) and your monthly income.
4. Fill in your professional details. Ensure you meet the suggested monthly income of ₹25,000 for a smooth approval.
5. Upload the digital copies of your Aadhaar and PAN card for the Video KYC process.
6. Submit your application and note down the reference number to track your status.
7. Complete the Video KYC as prompted by the bank executive.

Pro Tip: Ensure you make a transaction of at least ₹100 within the first 30 days of receiving the card. If you don't do this, you will lose out on the 1,000-point welcome reward.

Credit Limit: What to Expect?

Credit limits for the Kotak IndianOil Platinum Credit Card are assigned based on your unique financial profile. The bank looks at several factors before deciding your limit:

• Your Income: Higher monthly earnings result in a higher credit limit.
• CIBIL or CRIF Score: A score of 720 or above is required for this Platinum variant.
• Existing Relationships: If you already have a savings account or loan with Kotak, you might receive a more generous limit.

If you find your initial limit is low, don't worry. Kotak reviews accounts every 6 to 12 months. By paying your bills in full and on time, you can request a limit increase later. Credit limits generally range from ₹25,000 to ₹3,00,000 depending on your income profile and existing credit history.

Comparison: Kotak IndianOil vs. Competitors

Before committing, it is vital to see how this card stacks up against other fuel-focused credit cards in the Indian market.

The Kotak IndianOil Platinum card is the clear winner if you want an easy path to fee waivers. While Axis requires a high spend of ₹3.5 lakh to skip the annual fee, Kotak gives it to you for just ₹50,000. It is the most accessible card for a middle-income user who wants to maximize fuel savings without huge annual spends.

Documents Required for Kotak IndianOil Platinum Credit Card Application

To ensure your application process is quick and hassle-free, keep these documents ready:

For Salaried Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, or Voter ID.
• Address Proof: Aadhaar Card, Passport, or Utility Bills (electricity/water) not older than 2 months.
• Income Proof: Latest 3 months' salary slips and 6 months' bank statements showing salary credits.
• Employment Proof: Office ID card or an official appointment letter.

For Self-Employed Applicants

• Identity Proof: PAN Card (mandatory) and Aadhaar Card.
• Address Proof: Business registration documents or property tax receipts.
• Income Proof: Latest 2 years' ITR (Income Tax Returns) with a detailed computation of income.
• Business Proof: GST registration certificate or Shop Act License.

Note: The bank prefers digital copies for the online application, but keep the originals handy for verification during the Video KYC process.

Who Should Get This Card?

Should you get this card? Here is who benefits most from the Kotak IndianOil Platinum Credit Card:

The Daily City Commuter
If you drive 30-40 kilometers daily for work and your monthly fuel bill is around ₹6,000 to ₹8,000, this card is a no-brainer. By consistently fueling at IndianOil, you can save enough to cover your annual maintenance costs just through reward points. You are getting a 5 percent discount on a commodity that rarely goes on sale.

The Savvy Household Manager
If you handle the grocery shopping and dining out for your family, spending around ₹15,000 monthly in these categories, you can earn up to 1,200 points every month. Combined with the fuel benefits, you could be looking at over ₹15,000 in total value back annually. This is perfect for someone who wants one card to handle all "routine" life expenses.

The UPI Power User
If you've moved away from carrying a physical wallet and prefer scanning QR codes at the local dairy or pharmacy, this RuPay card is for you. Most credit cards give zero rewards for UPI, but this one ensures every small ₹200 scan contributes to your next free tank of fuel.

You might want to skip this card if...
You don't have an IndianOil outlet on your regular route. The 5 percent benefit is specific to IndianOil; using it at BPCL or HPCL won't give you the same rewards. Also, if you are looking for travel perks like free airport lounge access, this card will disappoint as it focuses purely on fuel and lifestyle savings.

BankKaro Expert Review

In my experience reviewing dozens of co-branded fuel cards, the Kotak IndianOil Platinum Credit Card stands out for its simplicity and low barrier to entry. While high-end cards offer more bells and whistles, they often come with high annual fees that negate the savings for an average user.

The biggest strength of this card is the synergy between the 5 percent fuel benefit and the RuPay UPI functionality. It effectively turns your everyday "chillar" spends into fuel points. I particularly like the ₹50,000 annual fee waiver limit. In today's economy, spending ₹4,200 a month on fuel and groceries is almost guaranteed for a nuclear family, making this card "Free for Life" for most active users.

However, the biggest limitation is the reward capping. With a limit of 1,200 points on fuel and 800 on groceries, high-spenders might find themselves hitting a ceiling quickly. If you spend more than ₹10,000 on fuel monthly, you might want to look at premium fuel cards. Additionally, the lack of any travel or movie benefits makes this a "utilitarian" card rather than an "entertainment" card.

Our verdict: Choose this card if you are looking for a dedicated "utility" card to manage your car and kitchen expenses. It is an excellent secondary card to pair with a travel or cashback card.

Terms and Conditions

Before you apply, please keep these specific terms in mind as provided by Kotak Mahindra Bank:

• The bank may offer a different card variant based on your eligibility. Please carefully read the features of the card offered before submitting your application.
• A minimum transaction of ₹100 within 30 days is required to activate the card, otherwise, you won't be eligible for the Welcome Reward points.
• Reward points are not earned on certain categories including rent payments, insurance, EMI transactions, school and educational services, and government-related transactions.
• Wallet loading and cash withdrawals are also excluded from earning reward points.
• For any queries regarding your application or rewards, call Kotak Customer Care at 1860 266 2666.