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IndianOil RBL Bank Credit Cards: For up to 8.5% Co-branded Fuel Savings

Home RBL Bank IndianOil RBL Bank Credit Cards: For up to 8.5% Co-branded Fuel Savings
Updated: 11-11-2024 10:54:40 AM

IndianOil is among the first oil refineries to partner with banks to bring forth co-branded fuel credit cards. HDFC bank, Axis bank and Kotak Mahindra bank already offer IOCL fuel credit cards which makes RBL the 4th addition to the list of banks that have collaborated with IOCL. RBL Bank now offers 2 fuel cards named IndianOil RBL and IndianOil RBL Bank XTRA Credit Card. Cardholders can earn Fuel Points on every spend via these credit cards and use them for IndianOil fuel purchase to maximise their overall savings. Read further to know about the detailed rewards program and other card features of IndianOil RBL and IndianOil RBL XTRA credit cards.

IndianOil RBL Bank Credit Cards Rating
IndianOil RBL Bank Credit Cards
Parameters IndianOil RBL IndianOil RBL XTRA
Co-branded Benefits ★★★ (3.5/5) ★★★★ (4/5)
Rewards Program ★★★ (3.5/5) ★★★★ (4/5)
Other Benefits ★★★ (3/5) ★★★ (3.5/5)
Overall Rating ★★★  (3.5/5) ★★★★ (4/5)

Note: These cards are not available on Paisabazaar.com. The content on this page is for information only. To apply for these cards, please visit RBL Bank’s website.

These cards provide considerable fuel savings to the cardholders, where IndianOil RBL Bank Credit Card offers up to 6%, and IndianOil RBl XTRA comes with up to 8.5% value-back on IOCL fuel spends which according to the bank can amount to up to 250 litres of free IOCL fuel in a year. The fuel savings by the XTRA variant can be considered the highest among all the co-branded fuel cards, a position earlier claimed by BPCL SBI Card Octane that comes with up to 7.25% fuel savings.

However, besides the co-branded spends, all other spends only earn up to 1% value-back, which is quite low. Even when this rewards rate on non-fuel spends is compared with that offered by other co-branded fuel credit cards, it falls short. Most other fuel cards also offer accelerated rewards on a few other spending categories, for instance IndianOil HDFC offers 5% back on grocery and bill payments, while IndianOil Kotak offers 2% back on grocery and dining spends.

Let us find out what IndianOil RBL credit cards offer and how they fare against other co-branded fuel credit cards.

Video: Quick Review of IndianOil RBL Bank Credit Cards

Note: Details mentioned in the video have been sourced from the issuer’s website as of September 2024. For updated information, refer to this page.

On this page:
Features & Benefits of IndianOil RBL Bank Credit Cards
Value-back Comparison: IndianOil RBL XTRA Vs BPCL SBI Octane Vs IDFC FIRST Power+
Features Comparison of IndianOil Co-branded Credit Cards
Should You Get IndianOil RBL Bank Credit Cards?
Other Cards Similar to IndianOil RBL Bank Credit Cards
IndianOil RBL Bank Credit Cards: Fees & Charges
IndianOil RBL Bank Credit Cards: Eligibility Criteria

Features & Benefits of IndianOil RBL Bank Credit Cards

Rewards Program

The reward points earnings for every Rs. 100 spent on different spending categories are as follows:

RBL Credit Card Rewards on IOCL Spends Rewards on Other Spends
IndianOil RBL 10 points, up to 1,000 Fuel Points per month 1 point
IndianOil RBL XTRA 15 points, up to 2,000 Fuel Points per month 2 points

Exclusions: Utility, railways, rental, wallet loading, insurance, government services, and other miscellaneous payment spends will not accrue any reward points.

Note: Offline UPI transactions under Rs. 2,000 made at small merchants on RBL Bank RuPay credit card are not eligible for any reward points earnings, milestone bonus, voucher benefits, or any other product benefits, unless specified. Here, small merchants are those with a turnover of less than or up to Rs. 2 lakh during the previous financial year.

Rewards Redemption

You can redeem the accrued Fuel Points against XTRAREWARD POINTS (XRP) via netbanking. These XRPs are credited into your XTRAREWARDSTM account. These XRPs can later be used at any IndianOil XTRAREWARDS Program participating IOCL fuel stations via the POS machine.

The redemption value of Fuel Points is as follows:

  • 1 Fuel Point = Rs. 0.5 on IOCL petrol pump/petrol voucher
  • 1 Fuel Point = Rs. 0.1 everywhere else
  • 1 XTRAREWARDS Point = Rs. 0.30

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Other Card Benefits

Welcome Benefits: IndianOil RBL cardholders get 1,000 Fuel Points and IndianOil RBL XTRA cardholders get 3,000 Fuel Points on making the first card transaction of at least Rs. 500 within 30 days of card issuance.

Milestone Benefits: IndianOil RBL Bank XTRA Credit Card lets you earn 1,000 Fuel Points on reaching the spending milestone of Rs. 75,000 in a calendar quarter. Here, cash withdrawals, EMI transactions, fees, charges and GST spends are not going to be considered towards calculation of the spending milestone.

Annual Fee Waiver: IndianOil RBL credit card users can avail annual fee waiver on Rs. 1.75 lakh annual spends, while IndianOil RBL Bank XTRA credit card users can get their annual fee waived by spending Rs. 2.75 lakh in a year.

Fuel Surcharge Waiver: 1% fuel surcharge waiver on fuel transactions of Rs. 500 to Rs. 4,000, capped at Rs. 100 per month for IndianOil RBL cardholders and at Rs. 200 per month for IndianOil RBL XTRA credit card users.

Value-back Comparison: IndianOil RBL XTRA Vs BPCL SBI Octane Vs IDFC FIRST Power+

Spending Categories Monthly Spends IndianOil RBL XTRA BPCL SBI Octane IDFC FIRST Power+
Fuel Rs. 12,000 1,800 2,500 2,400 (+600 Happy Coins)
Grocery Rs. 5,000 100 500 400
Dining Rs. 4,000 80 400 78
Movies Rs. 800 16 80 15
Departmental Store Rs. 1,000 20 100 18
Other Online Purchases Rs. 4,000 80 40 78
Miscellaneous Offline Spends Rs. 3,200 64 32 63
Total  Rs. 45,000 2,160 Fuel Points 3,652 Reward Points 3,052 Reward Points (+600 Happy Coins)
Total Value-back Rs. 1,080 Rs. 913 Rs. 913

Here, according to the above calculation of the final value-back earned via rewards earned on eligible monthly spends, IndianOil RBL XTRA takes the lead with maximum savings. However, the number of reward points earned via the RBL variant fall behind, their redemption value (1 reward point = Rs. 0.5) which is double of that offered on the other 2 cards, not just makes up for the lower rewards earning, but also surpasses the final value-back that you can earn via the SBI and IDFC FIRST credit cards. Moreover, even though both SBI and IDFC FIRST cards had potential to earn even more reward points, the capping imposed on the rewards earned on certain category spends prevents the cardholders to maximise their savings.

Features Comparison of IndianOil Co-branded Credit Cards

Feature Categories IndianOil RBL IndianOil RBL XTRA IndianOil HDFC IndianOil Axis IndianOil Kotak
Annual Fee Rs. 500 Rs. 1,500 Rs. 500 Rs. 500 Rs. 449
Fee Waiver On Rs. 1.75 lakh spends in a year On Rs. 2.75 lakh spends in a year On spending Rs. 50,000 in the previous year On Rs. 3.5 lakh spends in a year On Rs. 50,000 spends in the previous year
Welcome Benefits 1,000 Fuel Points on the 1st card spend of min. Rs. 500 within 30 days of issuance 3,000 Fuel Points on the 1st card spend of min. Rs. 500 within 30 days of issuance Complimentary IndianOil XTRAREWARDSTM Program (IXRP) membership Up to 1,250 EDGE reward points worth Rs. 250 on the 1st fuel spend made within 30 days of card issuance 1,000 reward points on spending Rs. 500 within 30 days of card issuance
Rewards on IOCL Spends 10 Fuel Points, up to 1,000 Fuel Points in a month, per Rs. 100 spent 15 Fuel Points, up to 2,000 Fuel Points in a month, per Rs. 100 spent 5% back as Fuel Points, max. 250 per month in the 1st 6 months & max. 150 Fuel Points thereafter 4% back as 20 EDGE reward points per Rs. 100 spent at IOCL outlets on transactions worth Rs. 400 to Rs. 4,000, on max. Rs. 5,000 spends per month 4% back as 24 reward points, up to 1,200 per month, per Rs. 150 spent
Other Rewards Benefits 1 Fuel Point per Rs. 100 spent on other purchases 2 Fuel Points per Rs. 100 spent on other purchases 5% back as Fuel Points up to 100 per month on each category on grocery & bill payments (rewards on grocery capped at 100 points per month);
1 Fuel Point per Rs. 150 spent on other purchases		 1% back as 5 EDGE reward points per Rs. 100 spent on online shopping worth transactions of Rs. 100 to Rs. 5,000, on up to Rs. 5,000 spends per month;
1 EDGE reward point per Rs. 100 spent		 2% back as 12 reward points, up to Rs. 800 per month, per Rs. 150 spent on grocery & dining;
0.5% back as 3 reward points per Rs. 150 spent on all other purchases
Rewards Redemption Value 1 Fuel Point = Rs. 0.50 on IOCL fuel/voucher
1 XRP = Rs. 0.30
1 Fuel Point = Rs. 0.1 everywhere else		 1 Fuel Point = 3 XRPs = Rs. 0.96
1 XRP = Rs. 0.32
1 Fuel Point = Up to Rs. 0.20 on cashback & product catalogue		 1 EDGE reward point = Rs. 0.20 300 Reward Points = 250 XRPs = Rs. 75
1 XRP = Rs. 0.30
1 Reward Point = Rs. 25 for product catalogue
Fuel Surcharge Waiver 1% surcharge waiver, up to Rs. 100 per month, on fuel spends of Rs. 500 to Rs. 4,000 1% surcharge waiver, up to Rs. 200 per month, on fuel spends of Rs. 500 to Rs. 4,000 1% surcharge waiver, up to Rs. 250 per month, on fuel spends of Rs. 400 or above 1% surcharge waiver, up to Rs. 50 per month, on fuel spends of Rs. 400 to Rs. 4,000 1% surcharge waiver, up to Rs. 100 per month, on IOCL fuel spends of Rs. 100 to Rs. 5,059
Milestone Benefits NA 1,000 Fuel Points on spending min. Rs. 75,000 in a quarter NA NA NA
Movies NA NA NA Up to 15% off, max. Rs. 500 once a month, on dining bills worth min. Rs. 2,500 at partner restaurants via EazyDiner NA
Dining NA NA NA 10% off, up to Rs. 100 per month, on movie tickets via BookMyShow NA

Should You Get IndianOil RBL Bank Credit Cards?

IndianOil RBL Bank Credit Cards are good card options if you are an IOCL loyalist. Benefits like accrual of Fuel Points on all your card spends, their redemption against fuel, and fuel surcharge waiver – all add up to help you save a significant amount on your fuel spends. The XTRA variant even offers bonus Fuel Points as quarterly milestone bonus, thus further increasing the value-back on fuel.

Though the annual fee charged on both the card variants may add to your cost, you can easily waive this fee off by meeting the set annual spending requirements which are easily achievable for an average or even a low-spender.

Opt for this card if:

  • You commute using your own vehicle on regular basis and fuel spends make up a major portion of your monthly budget
  • You prefer IOCL over other fuel brands, like HPCL and BPCL
  • You can maximise your savings by redeeming the earned Fuel Points for future IOCL fuel purchases

Look for other card options if:

  • You do not have any fuel brand preference and do not want to be limited to any one brand
  • You want a card with direct cashback, instead of reward points
  • You want a card with better lifestyle-related benefits, including shopping discounts, travel benefits, dining offers, etc.

Other Cards Similar to IndianOil RBL Bank Credit Cards

BPCL SBI Card Octane

sbi-bpcl-credit-card-octane
4/5

Joining fee: ₹1499

Annual/Renewal Fee: ₹1499

7.25% value back on BPCL fuel expenses

10X rewards on dining, movies, groceries & departmental store spends

Co-branded
Fuel
Check Eligibility

Product Details

  • 25 reward points per Rs. 100 spent on BPCL fuel, lubricants & Bharat Gas; 1 reward point on others
  • 1% fuel surcharge waiver, up to Rs. 100 per month, on BPCL fuel spends of up to Rs. 4,000
  • 6,000 reward points as welcome bonus on fee payment, 1 RP = Rs. 0.25
  • 4 complimentary visits per year to domestic Visa lounges in India
  • Fee waived on Rs. 2 lakh annual spends & Rs. 2,000 e-gift voucher on Rs. 3 lakh annual spends
Know More

ICICI HPCL Super Saver Credit Card

hpcl-super-saver-credit-card
3.5/5

Joining fee: ₹500

Annual/Renewal Fee: ₹500

Up to 6.5% savings on HPCL fuel spends

5% back on grocery & utilities

Fuel
Check Eligibility

Product Details

  • 4% cashback, max. Rs. 200 per month, on HPCL spends & 1% on fuel surcharge
  • Save additional 1.5% as 6 reward points per Rs. 100 spent on HPCL fuel via the HP Pay app
  • 2 reward points per Rs. 100 spent on other retail purchases, 1 RP = Rs. 0.25
  • Rs. 100 cashback on recharge via HP Pay app & 2,000 reward points as joining bonus
  • 1 domestic airport lounge access per quarter on spending Rs. 35,000 in the previous quarter
Know More

IndianOil Axis Bank Credit Card

indianoil-credit-card
3/5

Joining fee: ₹500

Annual/Renewal Fee: ₹500

Save up to 5% on IOCL fuel spends

1% back as 5 EDGE reward points per Rs. 100 spent on online shopping

Co-branded
Fuel
Check Eligibility

Product Details

  • 4% back as 20 EDGE reward points per Rs. 100 spent on IOCL fuel
  • 1% fuel surcharge waiver of up to Rs. 50 per month on fuel spends of Rs. 400 to Rs. 4,000
  • 1 EDGE reward point per Rs. 100 spent on other spends, 1 EDGE reward point = Rs. 0.20
  • 100% cashback, up to Rs. 250, as EDGE rewards on the 1st fuel spend made within the 1st 30 days
  • Annual fee waived off on Rs. 3.5 lakh annual spends and up to 15% off on dining via EazyDiner
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IndianOil HDFC Credit Card

indianoil-hdfc-bank-credit-card
3/5

Joining fee: ₹500

Annual/Renewal Fee: ₹500

Up to 6% savings on IndianOil fuel spends

5% fuel points on groceries and bill payment spends

Co-branded
Fuel
Check Eligibility

Product Details

  • 5% fuel points on spends done at IndianOil outlets
  • 1% fuel surcharge waiver, up to Rs. 250 per month, for IOCL fuel spends of Rs. 400 and above
  • 1 fuel point per Rs. 150 spent on other purchases, including UPI, where 1 fuel point = Up to Rs. 0.96
  • Complimentary IndianOil XTRAREWARDS Program (IXRP) membership on joining
  • Annual fee waived off on spending Rs. 50,000 in a year
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IDFC FIRST Power+ Credit Card

hpcl-idfc-first-power-and-power-plus-credit-cards
3.5/5

Joining fee: ₹499

Annual/Renewal Fee: ₹499

Up to 6.5% value-back on HPCL fuel spends

30 rewards per Rs. 150 spent on grocery, utilities & IDFC FIRST FASTag

Co-branded
Reward Points
Fuel
Check Eligibility

Product Details

  • 5% savings as 30 rewards per Rs. 150 spent on HPCL fuel & LPG
  • 1.5% savings as 6 Happy Coins per Rs. 100 spent on HP Pay app
  • 3 rewards per Rs. 150 spent on UPI & other purchases, 1 RP = Rs. 0.25
  • 1 complimentary domestic airport lounge access per quarter on min. monthly spends of Rs. 20,000
  • 25% off, up to Rs. 100, on movie tickets once per month & annual fee waived on Rs. 1.5 lakh annual spends
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IndianOil Kotak Credit Card

indianoil-kotak-credit-card
3/5

Joining fee: ₹449

Annual/Renewal Fee: ₹449

Up to 5% savings on card spends made on IndianOil fuel

2% back as 12 reward points per Rs. 150 dining and grocery spend

Co-branded
Fuel
Check Eligibility

Product Details

  • Save 4% as 24 reward points per Rs. 150 IndianOil fuel spend
  • 1% fuel surcharge waiver of up to Rs. 100 per month on IOCL fuel spends between Rs. 100 to Rs. 5,000
  • 3 reward points per Rs. 150 spent on others; 1,000 reward points on making a spend of min. Rs. 500 in the 1st month
  • 300 Reward Points = 250 IndianOil XTRAREWARDS = Rs. 75 (1 RP = Rs. 0.25; 1 XTRAREWARDS = Rs. 0.30)
  • Annual fee waived off on Rs. 50,000 annual spends
Know More

IndianOil RBL Bank Credit Cards: Fees & Charges

Fees and Charges Amount
Joining / Annual Fee IndianOil RBL: Rs. 500
IndianOil RBL XTRA: Rs. 1,500
Finance Charges Up to 3.99% p.m. (47.88% p.a.)
Late Payment Charges 12.5% of the total outstanding amount (min. Rs. 5 and max. Rs. 1,300)

Click here for the most important terms and conditions related to RBL Bank credit card fees and charges.

IndianOil RBL Bank Credit Cards: Eligibility Criteria

Criteria Details
Age 18 years and above
Occupation Salaried or Self-Employed
Documents Required Click here to see the list of required documents
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