Is the IndianOil HDFC Bank Credit Card Worth It?
Enter what you spend where this card pays more, and the benefits you would use. See what it is worth to you in rupees, after its fee.
- 207Cards to check
- FreeCost
- Fuel card
- Needs ₹12,000 a month income
- ₹590 fee a year (with GST)
- Fee waived from ₹4,167 a month
- 0.64% base, up to 4.8% on groceries
- Pays in reward points
- groceries: 4.8% back, up to ₹96 a month
- fuel only at Indian Oil: 4.8% back, up to ₹144 a month
- spending ₹4,167 or more a month: the ₹590 fee is waived
- you spend less than ₹4,167 a month (₹50,000 a year, rent and wallet loads not counted): the ₹590 fee is then charged
- most of your spending is fuel, rent, insurance or wallet top-ups: those earn nothing on this card
- you rarely spend on groceries, Indian Oil or utility bills: the 4.8% rate applies only there, everything else earns 0.64%
- you often pay in foreign currency: 3.5% is added to every foreign spend
- you sometimes pay only the minimum due: interest of 3.75% a month (45% a year) outweighs any reward
Your spend a month, by kind
Terms on the normal rate: 1 Fuel Point per ₹150 (~0.64%) on other spends including UPI; min txn ₹150. Wallet, rent, government, tax, EMI, insurance, jewellery and non-IOCL fuel earn nothing.
Total on the card: ₹0 a month
Abroad and benefits
Every rate on this card, and what your spend earns
| Spend category | Rate | Monthly cap | Where it applies | Your spend earns |
|---|---|---|---|---|
| UPI payments (scan and pay) | 0.64% | No cap | The card's normal rate | - |
| Online shopping | 0.64% | No cap | The card's normal rate | - |
| Dining and food delivery | 0.64% | No cap | The card's normal rate | - |
| Groceries | 4.8% | ₹96 | All merchants in the categoryTerms: 5 Fuel Points per ₹100 (~4.8%) on groceries (MCC 5411/5499/5921/5462), capped 100 FP a month; min txn ₹150 | - |
| Travel: flights, hotels, trains | 0.64% | No cap | The card's normal rate | - |
| Fuel | Earns nothing | - | earns nothing on this card (base rate terms) | - |
| Fuel, only at listed merchants | 4.8% | ₹144 | Only at: Indian Oil (IOCL)Terms: 5 Fuel Points per ₹100 (~4.8% in rupees) at IndianOil outlets, capped 150 FP a month (250 FP for the first 6 months). Card swipe at IOCL POS only, paying at the pump by UPI earns the base rate, not 5%. | - |
| Bills and recharges | 4.8% | ₹96 | All merchants in the categoryTerms: 5 Fuel Points per ₹100 (~4.8%) on utility and telecom bills (MCC 4812/4814/4900), capped 100 FP a month; min txn ₹150 | - |
| Rent | Earns nothing | - | earns nothing on this card | - |
| Insurance premiums | Earns nothing | - | earns nothing on this card | - |
| School and college fees | 0.64% | No cap | The card's normal rate | - |
| Wallet top-ups | Earns nothing | - | earns nothing on this card | - |
| Taxes and government payments | Earns nothing | - | earns nothing on this card | - |
| Spend abroad or in a foreign currency | 0.64% | No cap | The card's normal rate | - |
| Everything else | 0.64% | No cap | The card's normal rate | - |
Card data sourced via CardAdvisor.in, India Credit Card Facts, CC BY 4.0, adapted by SkyloFin.
Common Questions
When is a credit card worth its annual fee?
When the rewards you actually earn in a year are more than the fee plus 18% GST, or when you spend enough for the bank to waive the fee. This calculator works out both from the card's own published terms.
Why is GST added to the fee?
Card fees carry 18% GST, so a ₹1,000 fee costs ₹1,180. Where the bank already quotes the fee with GST, it is not added twice.
What does 'capped' mean?
Many cards limit the reward you can earn in a month in a category. Spending above the cap earns nothing extra, so the calculator stops counting there.
Is a lifetime free card always better?
Not always. A paid card with higher rewards can leave you with more once you spend enough. The break-even line shows the monthly spend where that starts.
Guides in Plain Words
Short reads that explain how it works before you decide.
- GuidesBest Credit Cards Under ₹1,000 a Year in India (2026)Credit cards with an annual fee of ₹1,000 or less (before GST) in 2026, ranked by the reward rate each bank states, with fee waivers.Read the guide →
Credit CardsTata Neu HDFC Credit Card: Claim Your NeuCoins from 25 November 2026From 25 November 2026, NeuCoins earned on a Tata Neu HDFC Bank credit card no longer reach your Tata Neu account by themselves. You claim them in the Tata Neu App within 12 months, or they expire. Here is what changes, how to claim, and the dates that matter.Read the guide →- GuidesBest Credit Cards Under ₹500 a Year in India (2026)Credit cards with an annual fee of ₹500 or less (before GST) in 2026, ranked by the reward rate each bank states, with fee waivers.Read the guide →
