Indian Oil

The Indian Oil HDFC Bank Credit Card is a co-branded fuel card built for those who regularly fill up at IndianOil pumps. Through its Fuel Points reward system, the card can effectively deliver up to 50 litres of free fuel annually. That said, monthly earning caps apply: in the first six months, cardholders can earn up to 250 Fuel Points per month (worth ₹240 when redeemed as IOCL fuel), after which the cap drops to 150 Fuel Points per month, reducing the monthly value to ₹144.
Redeeming points against IOCL fuel offers the best value at ₹0.96 per Fuel Point. Redemption through cashback or product catalogues yields significantly lower returns (around ₹0.20 per point), so sticking to fuel redemption is the smarter move.
Beyond fuel, the card also rewards grocery and bill payment spends with 5% Fuel Points, capped at 100 Fuel Points per month per category — translating to up to ₹96 in value per category.

Here's how the HDFC variant compares with other IndianOil co-branded cards on non-fuel accelerated rewards:
Indian Oil Axis: 1% value-back on online shopping, on monthly spends up to ₹5,000 — monthly savings of ₹50
Indian Oil Kotak: 2% back on grocery & dining (12 reward points per ₹150, capped at 800 points) — monthly savings of ₹200

And on base reward rates across non-accelerated categories:
Indian Oil HDFC: 1 Fuel Point per ₹150 — reward rate of 0.64%
Indian Oil Kotak: 3 reward points per ₹150 — reward rate of 0.5%
Indian Oil Axis: 1 reward point per ₹100 — reward rate of 0.2%
Indian Oil RBL: 1 Fuel Point per ₹100 — reward rate of 0.5%

Overall, the Indian Oil HDFC Credit Card holds its own as a well-rounded fuel card. While its fuel savings are slightly lower than some competitors, it compensates with a comparatively higher base reward rate and rewards on two often-excluded categories — fuel and bill payments — making it a practical everyday companion for regular drivers.