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Kotak Mahindra BankIndianOil
RuPay

Kotak Mahindra Bank · RuPay

IndianOil

Joining ₹449 · Annual ₹449 · Waived on ₹50,000 annual retail spend

Fee break-even: ≈₹89,800/yr through this card at its base rate. Below that, the fee eats the rewards.

Earns Kotak Reward Points · assumed 0.25 ₹/point. Kotak Rewards portal at ₹0.25/point (vouchers/recharge/travel). Cashback route pays only ₹0.20 with a 2,000-point minimum. Points also convert to IOCL XTRAREWARDS for free fuel

Verified 7 Aug 2026
Forex markup3.5%
GolfNone
ConciergeNone
Domestic loungeNone
International loungeNone
EMI₹249 per conversion at a merchant, up to 3.5% of the amount converting a billed balance processing fee · A converted purchase stops earning rewards · Kotak's own two pages disagree here. The Instant EMI terms state a one time fee of ₹249 per conversion while the product page claims no processing fee at all, so expect ₹249 and check the charge slip. Converting a bill afterwards costs up to 3.5% of the amount. Gold cannot be converted.
Fuel surcharge1% on IndianOil transactions of ₹100 to ₹5,000, capped ₹100/statement cycle (IOCL outlets only)

Return by category

CategoryReturnNotes
Online spend0.5%Base rate
Amazon0.5%Base rate
Flipkart0.5%Base rate
Subscriptions & OTT0.5%Base rate
Offline spend0.5%Base rate
UPI spending0.5%The RuPay variant is UPI-enabled. UPI spends earn the same ~0.5% as other non-fuel spends.
Dining2%800 RP/cycle (₹200), cap shared across dining + groceries · 12 RP per ₹150
Swiggy2%Uses its dining rate
Zomato2%Uses its dining rate
Groceries2%800 RP/cycle (₹200), shared with dining · 12 RP per ₹150
Quick commerce2%Uses its groceries rate
Swiggy Instamart0.5%Base rate
Blinkit0.5%Base rate
BigBasket2%Uses its groceries rate
Movies & shows0.5%Base rate
BookMyShow0.5%Base rate
PVR INOX0.5%Base rate
Fuel4%1,200 RP/statement cycle (₹300). Full 4% only on the first ~₹7,500 fuel/month · 24 RP per ₹150 ONLY at IndianOil outlets. +1% surcharge waiver takes total value to ~5% on IOCL fuel
Travel (general)0.5%Base rate
Flights0.5%Base rate
Hotels0.5%Base rate
MakeMyTrip0.5%Base rate
IRCTC rail0.5%Base rate
International−3%0.5% reward − 3.5% forex markup
Utilities & bills0.5%Base rate
Rent0.5%Base rate
Education fees0.5%Base rate
Insurance premiums0.5%Base rate
Government & tax0.5%Base rate
Wallet loads0.5%Base rate
Anything else0.5%Base rate
Jewellery0.5%Base rate

Rates are the card's own published rates, before any spend profile. Add this card inMy cards to rank it against the rest of your wallet.

Also worth knowing

  • Welcome: 1,000 reward points on spending ₹500+ within 30 days
  • Points convertible to IndianOil XTRAREWARDS (XRP) for free fuel
  • RuPay variant is UPI-enabled
  • Kotak publishes no clear MCC exclusion list. Rent/wallet earn rates unverified

Sources

Every figure above comes from the issuer's own pages and documents. Last verified 7 Aug 2026.

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