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Last updated: 17 October 2026
Free to apply via CardsGuruji · subject to issuer approval
What you earn on every spend, and the ways you can cash it in.
You earn
Up to 6X EDGE Miles on fuel
Earn 6X EDGE Miles for every ₹150 spent at IndianOil outlets (capped at 600 EDGE Miles per month). Earn 2X EDGE Miles per ₹150 spent on groceries and supermarkets (capped at 33 EDGE Miles per month). Earn 1 EDGE Mile per ₹150 on all other eligible retail spends. Base redemption value is 1 EDGE Mile = ₹1.
Redeem for
The privileges that come bundled in, beyond the reward points.
1% unlimited fuel surcharge waiver on all fuel purchases made exclusively at IndianOil outlets
Annual fee of ₹1,000 is waived upon spending ₹1,00,000 or more in the previous anniversary year
2 complimentary domestic airport lounge visits per quarter (subject to spending ₹50,000 in the previous 3 months)
30% instant discount on Zomato food delivery (up to ₹150 off, valid twice a month)
Up to 25% off at partner restaurants via Axis Bank Dining Delights (EazyDiner)
An honest read on where this card earns its keep — and where it doesn't.
Excellent value of 1 EDGE Mile = ₹1, giving an effective 4% return on IndianOil fuel
Unlimited 1% fuel surcharge waiver at IOCL pumps
Easily achievable annual fee waiver milestone of just ₹1 Lakh
Solid dining benefits with up to ₹3,600 annual savings via Zomato discounts
Strict monthly caps on accelerated rewards (maximum 600 miles/month for fuel
33 miles/month for groceries)
Lounge access requires a prior quarter spend of ₹50,000, making it inaccessible for low spenders
Relatively high APR of 55.55% compared to other premium cards
Accelerated rewards and surcharge waivers apply strictly to IndianOil outlets only
Everything the issuer can bill you for, in one place.
Applied only when the situation arises
Charged on any balance you carry forward
Fee waiver: most issuers waive the renewal fee once your yearly spends cross a set threshold. Confirm the exact criteria with Axis Bank before you apply.
Issuer-stated requirements and CardsGuruji guidance are shown separately.
Note: A displayed score is editorial guidance only unless separately identified as an issuer-stated requirement.
See how IndianOil Axis Bank Premium Credit Card stacks up against competing cards on reward rates, annual charges, and milestone perks.
Use our customizable comparison tool to benchmark fees, lounge access, and rewards.
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Everything you need to know about IndianOil Axis Bank Premium Credit Card fees, reward conversion, lounge access, and application eligibility.
IndianOil Axis Bank Premium Credit Card has an annual fee of ₹1,000 plus 18% GST. Most cardholders can get subsequent annual renewal fees waived by reaching the bank's annual milestone spend threshold. Additionally, the initial fee is often offset by welcome privileges like "500 EDGE Miles on the first transaction within 30 days of card issuance".
IndianOil Axis Bank Premium Credit Card earns EDGE Miles at a primary rate of Up to 6X EDGE Miles on fuel. Specifically, Earn 6X EDGE Miles for every ₹150 spent at IndianOil outlets (capped at 600 EDGE Miles per month). Earn 2X EDGE Miles per ₹150 spent on groceries and supermarkets (capped at 33 EDGE Miles per month). Earn 1 EDGE Mile per ₹150 on all other eligible retail spends. Base redemption value is 1 EDGE Mile = ₹1.. Spends in Fuel, Dining, Premium, Shopping, Lifestyle categories provide the maximum valueback per transaction on this card.
Rewards earned on IndianOil Axis Bank Premium Credit Card can be redeemed for Fuel Purchases at IndianOil Outlets, Air Miles / Hotel Loyalty Transfers (1:1 Ratio), IndianOil XtraRewards (1 EDGE Mile = 10 XRPs) via Axis Bank's official rewards portal or mobile banking app. Points earned remain valid for 36 months from the transaction date before expiring.
Yes, IndianOil Axis Bank Premium Credit Card features complimentary airport lounge privileges. Privileges include: "2 complimentary domestic airport lounge visits per quarter (subject to spending ₹50". Note that banks frequently require a minimum spend (typically ₹35,000 to ₹50,000) in the previous calendar quarter to unlock complimentary lounge access.
A CIBIL credit score of 720 or above is strongly recommended for approval of IndianOil Axis Bank Premium Credit Card. Applicants should be Indian residents aged 21 to 65 years with a stable monthly income (salaried or self-employed with ITR) and no recent payment defaults or high credit utilization over 30%.
IndianOil Axis Bank Premium Credit Card is issued on the Visa or MasterCard network with worldwide acceptance at over 30 million merchant establishments and online portals. International transactions, contactless tap-to-pay (up to ₹5,000 without PIN), and tokenized payments are supported once enabled in your banking app.
IndianOil Axis Bank Premium Credit Card levies a forex markup fee of 3.5% + GST on transactions processed in foreign currencies. For cross-border shopping and overseas travel, remember that standard 18% GST applies on the markup charge.
IndianOil Axis Bank Premium Credit Card currently features a welcome offer: "500 EDGE Miles on the first transaction within 30 days of card issuance". To claim this joining perk, cardholders typically need to activate the card and complete a qualifying initial transaction within 30 to 60 days of card issuance.
Key highlights include Excellent value of 1 EDGE Mile = ₹1 and giving an effective 4% return on IndianOil fuel. However, keep in mind that Strict monthly caps on accelerated rewards (maximum 600 miles/month for fuel and 33 miles/month for groceries). Overall, IndianOil Axis Bank Premium Credit Card delivers strong value if your regular spending aligns with Fuel, Dining, Premium, Shopping, Lifestyle.
Yes, IndianOil Axis Bank Premium Credit Card includes a 1% fuel surcharge waiver for fuel spends typically between ₹400 and ₹4,000 at all government and private fuel stations in India. (1% unlimited fuel surcharge waiver on all fuel purchases made exclusively at IndianOil outlets). The monthly waiver is subject to a cap, and GST charged on the surcharge is non-refundable.
