The Indian Oil Axis Premium has a ₹1,000 annual fee (waived on ₹1 lakh annual spend), earns 2 EDGE Miles On Every ₹150 Spent On Grocery & Supermarket (1 Edge Mile on Every ₹150), includes 2 airport lounge visits a quarter and charges a 3.5% forex markup.
| Annual fee | ₹1,000 |
|---|---|
| Joining fee | ₹1,000 |
| Annual fee waived | On ₹1 lakh annual spend |
| Top reward rate | 2 EDGE Miles On Every ₹150 Spent On Grocery & Supermarket |
| Base rewards | 1 Edge Mile on Every ₹150 |
| Lounge access | 2 airport lounge visits a quarter |
| Forex markup | 3.5% |
From issuer benefit data, checked 24 Oct 2026. Top reward rate is the card's best partner or category rate; base rewards is the general earn rate. Caps and exclusions are under Key Benefits.
Key Benefits
Live offers on this card
123 online offers across 73 brands right now, each valid for at least another 7 days. Checked 23 Oct.
- Yatra: Upto Rs.7000 off · till 30 Nov
- Paytm: Flat Rs.750 off · till 31 Dec
- AJIO: Flat 20% off · till 31 Dec
- Croma: Upto 20% Add Cashback · till 31 Oct
- MakeMyTrip: Upto 20% off + Extra 5% discount · till 31 Oct
These are Axis Bank's own offers and Mastercard network offers, so they apply to every Axis Bank Mastercard card, not just this one. All Axis Bank offers by category.
More about the Indian Oil Axis Bank Premium Credit Card
Is the Indian Oil Axis Bank Premium Credit Card worth it in 2026?
The card offers 6 EDGE Miles on every Rs.150 spent at IOCL, plus 2 complimentary airport lounge accesses per quarter. With a reasonable annual fee of Rs.1000, which is waived on spending Rs.1 lakh annually, it provides good value for frequent fuel and grocery spenders.
Who should get the Indian Oil Axis Bank Premium Credit Card?
Ideal users are frequent IOCL fuel buyers and grocery shoppers who spend regularly above Rs.15,000 on fuel and Rs.5,000 on groceries monthly. They benefit from accelerated EDGE Miles and lounge access, making it suitable for travelers and daily commuters.
How to maximise rewards on the Indian Oil Axis Bank Premium Credit Card?
Maximise rewards by spending at least Rs.15,000 monthly at IOCL to earn 6 EDGE Miles per Rs.150, and over Rs.5,000 on groceries to get 2 EDGE Miles per Rs.150. Additionally, use the card for all other spends to earn 1 EDGE Mile per Rs.150.
Is the Indian Oil Axis Bank Premium Credit Card better than a top competing premium card?
This card excels in fuel and grocery rewards with up to 6 EDGE Miles per Rs.150 spent at IOCL, which may surpass general premium cards. However, its benefits are niche-focused, so it may not match broader premium cards offering diverse lifestyle rewards.