Cardholders can get 7.5% value-back on their IOCL fuel spends in the form of Fuel Points which can later be redeemed at 2:1 ratio for IOCL purchases. This value-back rate is the best offered on fuel spends so far. However, besides the co-branded spends, all other spends only earn up to 1% value-back. When this rewards rate on non-fuel spends is compared with that offered by other co-branded fuel cards, it falls short. Most other fuel credit 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.
RBL
IndianOil RBL Bank XTRA Credit Card
Co-branded
Reward Points
Fuel
1st Year Fee: ₹1,500* Plus Applicable Taxes
Fuel
Up to 8.5% savings on fuel spends
Co-branded
Accelerated value-back on IndianOil fuel
Rewards
Up to 15 rewards on every Rs. 100 spent
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About IndianOil RBL XTRA Credit Card
IndianOil XTRA Credit Card is one of the two fuel cards that RBL offers in collaboration with IndianOil. With this collaboration, RBL has become the 4th addition to the list of banks that have fuel credit cards co-branded with IOCL, including HDFC bank, Axis bank, and Kotak Mahindra bank. IndianOil XTRA cardholders can save up to 8.5% on their fuel spends which according to the bank can amount to up to 250 litres of free IOCL fuel in a year. These fuel savings 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% value-back on fuel.
Rewards Benefits
Cardholders can earn rewards on every Rs. 100 spent via this card, as follows:
- 15 Fuel Points1: On spends made at IndianOil fuel stations
- 2 Fuel Points: On all other purchases
- Fuel Points Redemption Value:
- 1 Fuel Point = Rs. 0.5 on IOCL Petrol Pump/ Petrol voucher
- 1 XTRAREWARDS Point (XRP) = Rs. 0.30
- 3 Fuel Points = 5 XRPs
- 1 Fuel Point = Rs. 0.1 on redemption against RBL bank rewards portal
Other Features and Benefits
- Welcome Benefits: 3,000 Fuel Points on making the first card transaction of at least Rs. 500 within 30 days of card issuance.
- Milestone Benefits: 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.
- Fee Waiver: Annual fee waived on spending Rs. 2.75 lakh or more in a year
- Fuel Surcharge Waiver: 1% fuel surcharge waiver of up to Rs. 200 per month on fuel transactions worth Rs. 500 to Rs. 4,000
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IndianOil RBL Bank XTRA Credit Card: Fees & Charges
| Particulars | Amount |
|---|---|
| Joining/Annual Fee | Rs. 1,500 + applicable taxes |
| Finance Charges | Up to 3.99% p.m. (Up to 47.88% p.a.) |
| Late Payment Charges | 12.5% of the total outstanding amount (Min. Rs. 5 and Max. Rs. 1,300) |
Comparison: IndianOil RBL XTRA vs. BPCL SBI Octane vs. IDFC FIRST Power+
Let us find out what IndianOil RBL bank XTRA credit card offers and how it fares against other top co-branded fuel credit cards:
| 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 |
As per the above calculation of the final value-back earned via rewards, 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 from maximising their savings.
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Things to Know Before you apply
Get 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 can maximise your savings by redeeming the earned Fuel Points for future IOCL fuel purchases
You prefer IndianOil (IOCL) over other fuel brands, like HPCL and BPCL
Other Similar Cards:
BPCL SBI Card Octane
IndianOil RBL Bank Credit Card
IDFC FIRST HPCL Power+ Credit Card
IndianOil HDFC Bank Credit Card
Paisabazaar Review
What do we like about this card?
IndianOil RBL XTRA credit card is a good card option if you are an IOCL loyalist. Benefits like Fuel Points accrual on all your card spends, their redemption against fuel with 7.5% value-back, and 1% fuel surcharge waiver – all add up to help you save a significant amount on your fuel spends. Moreover, bonus Fuel Points as quarterly milestone bonus further increase the overall value-back that the cardholders can earn. Even the annual fee charged that adds to the total cost, can be waived off by meeting the set annual spending requirement which is easily achievable for an average or a low-spender.
Pros
- Up to 8.5% savings on IOCL fuel
- Decent rewards redemption ratio of 2:1
- Up to 4,000 Fuel Points as milestone bonus
- Easily achievable annual fee waiver condition
Cons
- No accelerated rewards on spending categories other than IndianOil fuel
- No complimentary lounge benefits
- No benefits on other lifestyle-related spends
Frequently Asked Questions
Everything you need to know about this credit card
To redeem the accrued XTRA Rewards, first go to one of the participating IndianOil XTRAREWARDS Programme outlets. Then press ‘#’ on the POS machine and choose the ‘Instant Redeem’ option. Next select ‘XTRAREWARDS’ under the ‘Select Program’ section. Click on ‘OK’ and enter the registered mobile number and the desired redemption amount.
IndianOil RBL XTRA credit card is available in Mastercard and RuPay network variants.
IndianOil RBL XTRA cardholders can track their XRP balance on https://www.xtrarewards.com or at the participating IOCL Retail outlets from the POS terminal. Card users can also send an SMS query about XRPs to 9223177998 or check the XRP balance on IndianOil ONE app.
NCMC functionality is only available with the Rupay variant of IndianOil RBL XTRA credit card.
Footnotes
- Fuel Points earnings on IOCL fuel spends are capped at 2,000 Fuel Points for every month.
Click here to know More Terms and Conditions
Lepakshi Phogat
Lepakshi is a content writer specialising in personal finance and credit cards. She translates complex financial concepts into practical advice, helping readers make informed financial decisions. Whether it is helping them choose the right credit card or offering strategies to build their credit score, she writes to make personal finance less intimidating and more empowering.
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