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In short: Kotak Royale has the lower annual fee (₹999 vs ₹1,000); both include 2 airport lounge visits a quarter; both charge a 3.5% forex markup.
| Key facts | Indian Oil Axis Premium | Kotak Royale |
|---|---|---|
| Annual fee | ₹1,000 | ₹999 |
| Joining fee | ₹1,000 | None |
| Annual fee waived | On ₹1 lakh annual spend | On ₹1 lakh annual spend |
| Top reward rate | 2 EDGE Miles On Every ₹150 Spent On Grocery & Supermarket | 4 Reward Points on Every ₹150 Spent on Hotels |
| Base rewards | 1 Edge Mile on Every ₹150 | 2 Reward Points on Every ₹150 |
| Lounge access | 2 airport lounge visits a quarter | 2 airport lounge visits a quarter |
| Forex markup | 3.5% | 3.5% |
From issuer benefit data, checked 6 Nov 2026. Milestones, welcome benefits and caps are in the full table below.
The Indian Oil Axis Bank Premium Credit Card and the Kotak Royale Visa Signature Credit Card both offer complimentary domestic lounge access and fuel surcharge waivers, but they differ in rewards focus and fee structure. Indian Oil Axis Bank card is tailored for fuel and grocery spenders with Edge Miles rewards, while Kotak Royale Visa Signature emphasizes travel and dining rewards with higher points on hotels and airlines. Both cards have similar forex markup fees and fee waiver conditions based on annual spending.
Comparison notes and quick badges use AI, grounded in the benefit data shown in the table. Confirm details on each issuer’s site.
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| Feature | Indian Oil Axis Bank Premium Credit Card | Kotak Royale Visa Signature Credit Card |
|---|---|---|
| Bank | Axis Bank | Kotak Mahindra Bank |
| Network | MasterCard | Visa |
| Joining fee | Joining Fee of Rs.1000 | Joining Fees - Nil |
| Annual / renewal fee | Annual Fee - Rs.1000 | Annual Fee of Rs.999 |
| Annual fee waiver | Spend Rs.1 Lakhs For Annual Fee Waiver | Second Year Fee Waived Upon Spending Rs.1 Lakhs |
| Top reward rate | Earn 2 EDGE Miles On Every Rs.150 Spent On Grocery & Supermarket | Earn 4 Reward Points on Every Rs.150 Spent on Hotels |
| Base rate (other spends) | Earn 1 Edge Mile on Every Rs.150 | Earn 2 Reward Points on Every Rs.150 |
| Lounge — domestic | 2 Complimentary Airport Lounge Access Per Quarter | Enjoy 2 Complimentary Airport Lounge Access Per Quarter |
| Fuel surcharge waiver | 1% Fuel Surcharge Waiver on IOCL Outlets | 1% Fuel Surcharge Waiver |
| Welcome benefit | Welcome Benefits - 500 Edge Miles | — |
| Milestone benefit | — | Earn 10000 Rewards Points on Spend of Rs.4 Lakhs; Earn 30000 Rewards Points on Spend of Rs.8 Lakhs |
| Foreign currency markup | 3.50% - Foreign Currency Transactions | 3.5% - Foreign Currency Transactions |
For rewards, the Kotak Royale Visa Signature Credit Card provides a stronger value proposition for frequent travelers and diners, offering 4 reward points per Rs.150 spent on hotels, airlines, restaurants, and travel, compared to the Indian Oil Axis Bank Premium Credit Card's maximum of 6 Edge Miles per Rs.150 spent only at IOCL fuel stations and 2 Edge Miles on groceries. The Kotak card also features milestone rewards of 10,000 and 30,000 points on spends of Rs.4 lakhs and Rs.8 lakhs respectively, adding to its rewards appeal. The Indian Oil card focuses more on fuel and grocery spends with tiered Edge Miles accrual. Overall, Kotak Royale is better suited for travel and lifestyle rewards.
In terms of travel benefits, both cards offer 2 complimentary airport lounge accesses per quarter domestically and have the same forex markup fee of 3.5%. The Kotak Royale Visa Signature card stands out with accelerated rewards on travel-related spends including airlines, hotels, and general travel categories, whereas the Indian Oil Axis Bank card's rewards are concentrated on fuel and groceries. Neither card lists international lounge access in our data. Thus, Kotak Royale provides more travel-centric rewards, making it more attractive for frequent travelers.
The Kotak Royale Visa Signature Credit Card has no joining fee and an annual fee of Rs.999, with the second-year fee waived upon spending Rs.1 lakh. The Indian Oil Axis Bank Premium Credit Card charges a joining and renewal fee of Rs.1000 each, with an annual fee waiver also on Rs.1 lakh spend. Both cards have similar forex markup fees of 3.5% and offer a 1% fuel surcharge waiver. Considering the slightly lower fees and waiver conditions, Kotak Royale is more cost-effective, especially for new cardholders.
Kotak Royale Visa Signature Credit Card offers milestone rewards of 10,000 points on Rs.4 lakh spend and 30,000 points on Rs.8 lakh spend annually, which can significantly boost rewards for high spenders. The Indian Oil Axis Bank Premium Credit Card does not list milestone benefits in our data.
Indian Oil Axis Bank Premium Credit Card focuses on fuel and grocery spends with Edge Miles rewards, including accelerated miles at IOCL outlets. Kotak Royale Visa Signature Credit Card targets travel and dining categories with higher reward points on hotels, airlines, restaurants, and general travel, providing a broader lifestyle rewards approach.
While both cards have similar annual fee waiver conditions based on Rs.1 lakh spend, Kotak Royale Visa Signature has no joining fee and a slightly lower annual fee of Rs.999, compared to Rs.1000 joining and renewal fees for the Indian Oil Axis Bank Premium Credit Card. This may make Kotak Royale more attractive for cost-conscious users.
Consider Indian Oil Axis Bank Premium Credit Card if your spending is concentrated on fuel purchases at IOCL outlets and groceries. This card rewards fuel spends heavily with up to 6 Edge Miles per Rs.150 spent at IOCL and offers a welcome benefit of 500 Edge Miles. It also provides a straightforward annual fee waiver on Rs.1 lakh spend, making it suitable for those looking for fuel-focused rewards and basic travel perks like domestic lounge access.
Consider Kotak Royale Visa Signature Credit Card if you prioritize travel and dining rewards with accelerated points on hotels, airlines, restaurants, and travel spends. Its milestone rewards on higher spends add extra value for big spenders. The card also has no joining fee and a slightly lower annual fee with a waiver on Rs.1 lakh spend, making it a good choice for frequent travelers and lifestyle spenders seeking versatile rewards and lounge access.
The Indian Oil Axis Bank Premium Credit Card charges a joining fee and annual fee of Rs.1000 each, with fee waiver on Rs.1 lakh spend. Kotak Royale Visa Signature Credit Card has no joining fee and an annual fee of Rs.999, waived in the second year upon Rs.1 lakh spend.
Yes, both cards provide 2 complimentary domestic airport lounge accesses per quarter. Neither card lists international lounge access in our data.
Both cards have a forex markup fee of 3.5% on foreign currency transactions.
The Indian Oil Axis Bank Premium Credit Card is better for fuel purchases, offering up to 6 Edge Miles per Rs.150 spent at IOCL outlets and a 1% fuel surcharge waiver specifically on IOCL fuel. Kotak Royale also offers a 1% fuel surcharge waiver but rewards fuel spends less aggressively.
Kotak Royale Visa Signature Credit Card offers milestone rewards of 10,000 points on Rs.4 lakh spend and 30,000 points on Rs.8 lakh spend annually. The Indian Oil Axis Bank Premium Credit Card does not list milestone benefits in our data.
Indian Oil Axis Bank Premium Credit Card offers up to 6 Edge Miles per Rs.150 spent at IOCL and 2 Edge Miles on groceries. Kotak Royale Visa Signature Credit Card offers 4 reward points per Rs.150 spent on hotels, airlines, restaurants, and travel, with a base rate of 2 points per Rs.150.