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Axis Bank · Visa

IndianOil Axis Bank Premium

6 EDGE Miles/₹150 at eligible IndianOil terminals up to ₹15,000 per statement month; ₹1,000 standard fee and conditional lounges.

IndianOil Axis Bank Premium Credit Card

IndianOil

6 EDGE Miles/₹150; ₹15K/month fuel cap

Groceries

2 Miles/₹150 up to ₹5K/month

Lounge

2/quarter after ₹50K in prior 3 months

Fee

₹1,000 + tax; waiver at ₹30K

IndianOil rewards

6 EDGE Miles/₹150 on eligible IndianOil purchases at authorised IOCL EDC terminals, up to ₹15,000 fuel spend/statement month; 1 Mile/₹150 above that limit.

Other eligible purchases

2 EDGE Miles/₹150 on eligible groceries/supermarkets up to ₹5,000/statement month; 1 Mile/₹150 base on other eligible spending. One Mile is listed as ₹1 on the bank’s specified redemption route, not a fixed value on every airline transfer.

Fees & programme conditions

2 domestic lounge visits/quarter after ₹50,000 eligible spend in the previous 3 calendar months. Annual fee ₹1,000 + tax, waived at ₹30,000 eligible annual spend.

IndianOil Axis Bank Premium: fees & key facts

IndianOil Axis Bank Premium credit card fees and key facts
Joining and annual fees₹1,000 + GST; renewal waived at ₹30,000 qualifying anniversary-year spending. Rent/wallet and general excluded transactions do not count; linked documents differ on insurance waiver eligibility, so confirm with Axis.
IndianOil earning6 EDGE Miles/₹150 at eligible IndianOil outlets with IOCL-authorised EDCs; up to ₹15,000 fuel spend/statement month. 1 Mile/₹150 thereafter under bank terms.
Groceries and base2 EDGE Miles/₹150 on eligible grocery/supermarket spend up to ₹5,000/statement month, then 1 Mile/₹150. Other eligible purchases earn 1 Mile/₹150.
RedemptionBank terms list 1 EDGE Mile = ₹1 on specified reward routes. Partner transfers have separate ratios, groups/caps and availability; check the live Travel EDGE table and account.
Welcome500 EDGE Miles on first purchase within 30 days of card issuance; migration/swap cases may not qualify.
Domestic lounges2 visits/quarter under Set B. Requires ₹50,000 eligible spending in the preceding 3 calendar months; qualifying new cards have the programme’s introductory exemption.
Fuel surcharge1% reversal on eligible IOCL-authorised outlets/EDC terminals; surcharge GST is not refundable. Non-IOCL fuel does not inherit the co-brand benefit.
ExclusionsUtilities/telecom, education, rent, wallet loads, government, insurance, gold/jewellery, financial institutions, cash and repayments excluded under the June 2025 update; relevant EMI/fee rules also apply.
AvailabilityCheck current Axis eligibility; existing migrated Citi cards and new applications can have different acquisition/welcome treatment.

Public issuer terms checked 15 October 2026.

Product, linked reward terms, June 2025 revision and lounge programme checked. Insurance treatment for fee-waiver spend conflicts between linked clauses; rent/wallet exclusions remain explicit.

Axis Premium productAxis Premium reward termsAxis June 2025 updateAxis lounge eligibility

Who should get it

Premium earns EDGE Miles rather than the regular card’s EDGE REWARD Points. Its authorised-terminal condition and separate fuel, grocery and base rates make the distinction important.

Evaluate net savings after any unwaived surcharge, taxes, redemption choice and category caps. Product headlines are not a guarantee for an ineligible merchant or transaction.

The bank publishes 2 lounge visits/quarter, subject to ₹50,000 eligible spending in the preceding 3 calendar months. New issuance availability must be checked; a live product page is not confirmation of an offered application.

Reward exclusions

Transactions that do not earn Rewards

Eligibility follows the merchant category code and transaction data received by the issuer, so the merchant name alone may not determine whether a transaction earns rewards.

  • Fuel outside the applicable co-brand reward benefit
  • Rent, wallets, cash, fees and excluded EMI transactions
  • Insurance, education, government, utilities and jewellery where excluded by the issued-card terms

Product, linked reward terms, June 2025 revision and lounge programme checked. Insurance treatment for fee-waiver spend conflicts between linked clauses; rent/wallet exclusions remain explicit.

Checked 15 October 2026Axis Premium productAxis Premium reward termsAxis June 2025 updateAxis lounge eligibility

IndianOil Axis Bank Premium FAQs

Do all IndianOil outlets and payment routes qualify?

The bank’s terms require eligible IOCL-authorised outlets and EDC terminals for the co-brand earning and surcharge reversal. Merchant identification matters.

Is reward value the same as cash?

EDGE Miles can have different values on different redemption/transfer routes. ₹1 is the stated value for the specified bank redemption route; partner transfers have separate ratios.

Does every fuel purchase get the surcharge refunded?

No. The applicable outlet, transaction range and issuer programme govern the waiver. GST on surcharge is not refunded.

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