The IndianOil HDFC Bank card is a co-branded credit card by HDFC Bank and the Indian Oil Corporation. This credit card is specially curated for the people who use their own transport often to travel around the city. The card offers a wide range of features and benefits, especially in the fuel category along with others. The IndianOil HDFC Bank credit card comes with an annual fee of Rs.500 and a monthly interest rate of 3.49%.
Fuel Point Benefits
The credit limit for your IndianOil HDFC Bank card will be assigned at the discretion of the bank. HDFC Bank considers several factors before adding the credit limit to your credit card. Some of these factors are the credit score of the primary applicant, the credit report, the annual income, as well as, the repayment habits of past and ongoing debts.
You will not be receiving any reward points with the transactions made with this card as the other credit cards offered by the bank. However, you will be receiving Fuel Points for each transaction made since it is co-branded by Indian Oil Corporation. The Fuel Points which is given to you can be redeemed as CashBack on your card. You can also redeem the Fuel Points to purchase products from the HDFC Rewards Catalogue.
Apart from this, the Fuel Points can also be redeemed for free fuel using the complimentary membership given to you for the IndianOil XTRAREWARDS Program.
|Type of Charge||Amount|
|Annual fee||Rs.500 (Reversible if annual spends exceed Rs.50,000)|
|Minimum repayment amount||5% of the total outstanding amount subjected to a minimum of Rs.200|
|Cash advance limit||40% of the credit limit|
|Finance charges||3.49% per month|
|Interest-free credit period||Up to 50 days|
|Add-on card fee||Nil|
|Cash advance fee at HDFC Bank ATMs or other ATMs||2.5% of the transaction amount subject to a minimum of Rs.500|
|Cash advance fee at international ATMs||2.5% of the transaction amount subjected to a minimum of Rs.500.|
|Cheque fee||Cheque value of up to Rs.5,000 – Rs.25 Cheque value of more than Rs.5,000 – Rs.50|
|Late payment charges||
For a total amount due less than Rs.100 - Nil
Between Rs.100 and Rs.500 - Rs.100
Between Rs.501 and Rs.5,000 - Rs.400
Between Rs.5,001 and Rs.10,000 – Rs.500
Between Rs.10,001 and RS.25,000 – Rs.7500
More than Rs.25,000 – Rs.750
|Payment return charges||2% of the payment amount subjected to a minimum of Rs.450.|
|Balance transfer processing charges||1% of the balance transfer amount or Rs.250. The higher amount will be taken.|
|Over-limit payment||2.5% of the over-limit amount subjected to a minimum of Rs.500.|
|Fuel surcharge||1% of the fuel purchase amount will be waived|
|Reissue of lost, stolen or damaged card||Rs.100|
|Cheque pickup fee||Nil|
|Rewards redemption fee||Rs.99|
|Foreign currency transaction||3.5%|
|Railway ticket fee||1% of the transaction amount + GST|
|Cash payment fee||Rs.100|
When you click the ‘Apply Now’ option on the website of HDFC Bank, you will have to submit a few primary details. Once done, the bank will check if you are eligible for a credit card and will get in contact with you.
The ideal eligibility criteria for the credit card is:
You will need to submit several documents during the application procedure. Here are some of the documents which are required:
The list of documents mentioned above is indicative. The bank may ask you to submit any other document during the application procedure or after depending on the requirement.
No, there are no reward points like other credit cards issued by the bank. Since this is a fuel centric card, you will receive Fuel Points which can be redeemed.
HDFC Bank will charge you 3.49% per month as the interest rate. Annually, it calculates up to 41.88%.
The 1% fuel surcharge will be waived off on all fuel transactions with the credit card. The minimum purchase amount must be Rs.400, however, there is no upper limit.
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