Regular Indian Oil consumers may take advantage of a number of incentives specifically designed to offset their fuel-related expenses with the Indian Oil Kotak Credit Card. Customers may save a lot of money on their purchases of petroleum products and diesel by using this card to take advantage of enticing fuel rebates and reward opportunities.
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Joining Fee
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₹449
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Annual Fee
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₹449
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Joining Benefits
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1,000 bonus reward points
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Pros
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- Offers regular drivers savings with enticing discounts and rebates on fuel bought at Indian Oil locations.
- Every transaction earns reward points that may be used for items, fuel coupons, or statement credits.
- Offers members a better eating experience by providing discounts at partner restaurants.
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Cons
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- It might not be widely accepted outside of Indian Oil stores and affiliated businesses because it is a co-branded card.
- There could be an annual cost for this, which, if not used wisely, could outweigh some of the advantages.
- It’s critical to control expenditures and payments because standard interest rates on outstanding debt can be somewhat high.
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Key Features
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- 3 reward points per ₹150 spent
- 1,000 reward points on making a transaction of minimum ₹500 in the 1st month
- Personal accident insurance cover of ₹2 lakh
- 1% fuel surcharge waiver of up to ₹100 per month on IOCL fuel spends between ₹100 to ₹5,000
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Eligibility
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- Age: 18 to 65 years
- Occupation: Salaried or Self-employed
- Documents Required: Proof of Identity (Available to both Salaried and Self-employed), Proof of Address (Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 month’s old, Ration Card, Property Registration Document), Proof of Income (Latest one or 2 salary slip (not more than 3 months old), Latest Form16, Last 3 months’ bank statement)
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Opinion: The Indian Oil Kotak Credit Card presents attractive benefits for frequent drivers, including fuel discounts and reward points. However, its limited acceptance outside of Indian Oil outlets and the potential annual fee may deter some users. Despite this, its rewards structure and joining benefits make it appealing for those primarily focused on fuel savings.