HDFC

HDFC Bank IndianOil Credit Card

Good fit for everyday spend that earns rewards — ₹500 annual fee.

Top reasons to choose this card

  • ₹50K fee waiver

What you'd do with it

  • Works when a ₹500 annual fee is acceptable for the accelerated earn rates.
  • Pay utility bills and recharges through the eligible app or channel to capture the top rewards tier.
  • Competitive for day-to-day rewards with an estimated base return around 0.6%.
Suggested comparison Similar tier comparison Compare with Axis Bank IndiGo →
Choose another card to compare →
Annual fee ₹500 per year
Forex markup 3.5% high
Lounge access 0 no lounge
Rewards / ₹100 5% up to · on Grocery

The catch Forex markup is 3.5%, so this can get expensive for frequent international spends.

  • Fee waiver available
  • Annual fee known
  • Forex markup known
  • No lounge access
  • Monthly interest known

At a glance

Snapshot · usage · fit

Fast facts

Annual fee
₹500 lower than 62 of 112 cards
Joining fee
₹500
Forex markup
3.5% the standard rate (matches 66 cards)
Lounge access
— domestic lounge
Reward rate
Up to 5% on Grocery

Fit data not yet captured for this card.

Still worth it?

Evidence-backed snapshot

Good fit if

  • Annual fee is relatively low at ₹500.
  • Fee waiver applies at ₹50,000 annual spend.

Verify before applying

  • Annual fee known
  • Fee waiver available
  • Forex markup known
  • No lounge access
  • Monthly interest known
  • Welcome benefit timing and claim process.
  • Lounge spend criteria, guest rules, and visit caps.
  • Annual fee waiver terms and eligible spend exclusions.
  • Issuer fees, GST, finance charges, and late-payment terms.
  • Reward limits
  • 5% on IndianOil up to ₹3,000/month
  • 5% on Grocery up to ₹2,000/month
  • 5% on Utilities up to ₹2,000/month

Next best move

Open the ranking that matches your constraint, or compare this card with the closest alternative.

Compare with Axis Bank IndiGo Similar tier comparison Best HDFC credit cards See how this card compares within HDFC. Forex ranking (verified) Compared on verified forex markup, then annual fee. Cards under ₹1,000 annual fee Lower-fee options in the current snapshot.

Is this good for lounge access?

Lounge access is not fully verified. Check issuer terms before relying on this card for lounge access.

Is this good for international spends?

Forex markup is 3.5%, so frequent international spends may be costly.

Is the annual fee easy to recover?

Fee waiver applies at ₹50,000 annual spend. Verify eligible spend exclusions before counting on it.

When do welcome benefits arrive?

No welcome benefit is listed. Check the issuer welcome email, MITC, and current offer page if this benefit matters.

Fees confidence: High Forex confidence: High Rewards confidence: High · issuer terms Lounge confidence: Unknown Waiver confidence: High

Card facts refreshed 11 July 2026.

Spending requirements

Spend gates · caps · milestone thresholds
RequirementAmountPeriodUnlocksRealismStrength
Annual fee waiver₹50,000yearAnnual fee waivertrivialstrong

Watch outs

Before choosing this card
  • Forex markup is 3.5%, so frequent international spends may be costly.

Reward reality

Point value · limits · exclusions
Verified value₹0.96 per pointFuel
Best verified laneGrocery (domestic)5%
Limits/capsGrocery (domestic): up to ₹2,000 per month; excess not counted unless source allows fallback; Utilities (domestic): up to ₹2,000 per month; excess not counted unless source allows fallback; IndianOil (domestic): up to ₹3,000 per month; excess not counted unless source allows fallback
Exclusions/no-earnThese spends do not earn reward points: Rent.

Reward rules

Structured earn rates · eligibility · caps when they bind
ScopeRateEligibilityLimit
Grocery (domestic)5%Min transaction INR 150 per category. MCCs 5411, 5499, 5921, 5462.up to ₹2,000 per month; excess not counted unless source allows fallback
Utilities (domestic)5%Min transaction INR 150. Utility & Telecom MCCs 4812, 4814, 4900.up to ₹2,000 per month; excess not counted unless source allows fallback
IndianOil (domestic)5%Fuel points accrued on IOCL authorised POS machines only; TID/MID must be in …up to ₹3,000 per month; excess not counted unless source allows fallback
General spend1 pt / ₹150Includes UPI transactions. Excludes fuel, rent, jewellery, govt spends, EMI, …—

Estimated usage

Example usage at this monthly spend

₹
  • At this monthly spend, you'd earn: Estimated using base earn (1 pt / ₹150). ~330 pts/month. Partner/category bonuses not included.
  • Fee waiver achievable at this spend
  • Forex cost ~₹1,750 per ₹50k international spend

Illustrative only, using current base rates and snapshot data.

Benefits & charges

Side-by-side facts
Benefits

Lounge Access

Domestic (cardholder)
—
International (cardholder)
Not included

Rewards

Base earn
1 pt / ₹150 value depends on redemption
Headline point value
₹0.96 per Fuel Point · verified 6 Jul 2026 Operator-verified headline rate — full channel grid in Redemption value.
Point validity
Points expire 2 years after earning · verified 7 Jul 2026

Redemption value

You earn
Fuel Points
Fuel
₹0.96 per Fuel Point · verified 6 Jul 2026
Cashback
₹0.20 per Fuel Point · verified 6 Jul 2026
Catalogue
₹0.20 per Fuel Point · verified 6 Jul 2026
Highest documented value
Fuel · ₹0.96 per Fuel Point
Conservative floor
Cashback · ₹0.20 per Fuel Point
Fees & charges

Fees

Monthly interest rate
3.6% / month
Annual fee
₹500
Joining fee
₹500 · verified 6 Jul 2026
Fee waiver spend
₹50,000 · verified 6 Jul 2026 Below catalog median waiver (₹2,00,000 vs ₹50,000).
Interest-free period
Up to 50 days · verified 7 Jul 2026

International Use

Forex markup
3.5%

3 sources agree · verify issuer terms before applying

Where to verify
Product tier
Mid-tier

Fuel Benefits

At the pump
  • 1% fuel surcharge waived on transactions ₹400–₹5,000.
  • Maximum waiver ₹250 per statement cycle.
  • Fuel transactions do not earn reward points.

Annual fee break-even math

When does this card pay for itself
₹79K Break-even using base rewards to offset ₹500 fee

Base rewards only: at base earn rates, you need roughly ₹79K in yearly spend to offset the ₹500 annual fee.

Compare with similar cards

Similar tier · similar benefits
SIDE BY SIDE
HDFC Bank IndianOil
vs
Axis Bank IndiGo
SIDE BY SIDE
HDFC Bank IndianOil
vs
Axis Bank My Zone
SIDE BY SIDE
HDFC Bank IndianOil
vs
HSBC India Live+
SIDE BY SIDE
HDFC Bank IndianOil
vs
ICICI Bank Coral RuPay

The fine print

Caps · exclusions · sources · last refresh
  • Category cap: 10,000 RP per month · insurance transactions
  • Category cap: 2000 Reward Points per calendar month · Utility transactions
  • Statement cycle cap: 2,00,000 RP per statement cycle · Maximum earn limit
  • Category cap: 150 RP per month · IndianOil
  • Category cap: 100 RP per month · Grocery
  • Category cap: 100 RP per month · Utilities

These spends do not earn reward points.

Payments

  • Rent

Expiry: 3 years, and Easy EMI cards/ PhonePe HDFC Bank Ultimo Credit Card/ PhonePe HDFC Bank Uno Credit Card on which reward points/ cash points are valid for 1 year

  • Travel redemption: ₹99 redemption fee per redemption
  • Annual fee: ₹500.
  • Forex markup currently listed at 3.5%.
  • — domestic lounge.

Learn more

Important

Data compiled from issuer and public information. Details may change — verify with issuer. Reference data, not financial advice.

Information updated 11 Jul 2026. moneymatters.cards Theme preferences are saved in this browser only.