IndianOil Kotak Credit Card: rewards, caps and exclusions
The IndianOil Kotak Credit Card pays about 3.2% on IndianOil fuel spends (in store / online), on the first ₹7,500 of spend a cycle, and 0.4% on everything else. Below is every rate, cap and exclusion in Kotak Mahindra Bank's published terms, as we last checked them on 9 October 2026.
What it earns
≈ marks a rate paid in points, valued at ₹0.2 a point. That is Zenidhi's conservative valuation, the same one the audit uses: the cheap end of what the points can be redeemed for, never the best transfer. Redeemed well, they can be worth more.
What earns nothing
Spend in these categories earns no rewards on this card, however it is paid for:
- Utility bills (since 1 June 2025)
- Telecom bills (since 1 June 2025)
- Insurance premiums (since 1 June 2025)
- Wallet loads (since 1 June 2025)
- Rent (since 1 June 2025)
- Government payments (since 1 June 2025)
- Education fees (since 1 June 2025)
- Gaming (since 1 June 2025)
- Railway bookings (since 1 June 2025)
- Tolls (since 1 June 2025)
- EMI conversions
- Cash withdrawals and fees
What costs extra
Worse than earning nothing: Kotak Mahindra Bank charges a fee for these.
- 1% on Fee on Utility Spends, plus GST
- 1% on Fee on Wallet Loading, plus GST
- 1% on Fee on Online Skill-Based Gaming, plus GST
- 1% on Fee on Rent Payments, plus GST
- 1% on Fee on Education Payment, plus GST
Fees
- Annual fee: ₹449, plus 18% GST
- Joining fee: ₹449
- Annual fee waived on ₹50,000 of spend in a card year
Welcome benefit: 1,000 Reward Points on paying the joining fee and spending ₹500 within 30 days.
Where this comes from
Transcribed from Kotak Mahindra Bank's own documents and checked against them on 9 October 2026:
- product page, kotak.bank.in
- FAQ, kotak.bank.in
- KFS, kotak.bank.in (PDF)
- MITC, kotak.bank.in (PDF)
- bank-wide restricted-MCC list, kotak.bank.in (PDF)
Banks change these terms, sometimes with a month's notice. If a figure here disagrees with Kotak Mahindra Bank's current document, the bank's document is right. Tell us at support@zenidhi.com and we'll fix the rule, here and in the app.
Hold this card?
We know this card's rules, but we don't read Kotak Mahindra Bank's mail yet, so the audit can't check your swipes on it. Which banks we read
Other Kotak Mahindra Bank cards
≈5% on Kotak Unbox: Flight & Flight Add-ons Booking, Hotel & Hotel Add-ons Booking
Kotak Cashback+ Credit Card5% on Food, Groceries (online), Entertainment, Subscriptions (online)
Kotak Solitaire Credit Card≈5% on Kotak Unbox: Flight & Flight Add-ons Booking, Hotel & Hotel Add-ons Booking