If you hold this card: Existing holders keep the card and its fuel earning exactly as before — only new applications are affected.
Axis stopped presenting this card in its application flow — it is simply no longer offered to new customers. There was no announcement, and the product page still carries an Apply button, which is why you will see this argued both ways: a stale product page is exactly what a quiet sourcing stop looks like.
The IndianOil co-brands Axis still sources are the IndianOil Axis Bank Credit Card and the IndianOil Easy Axis Bank Credit Card — both keep a live Apply button on Axis’s own lineup.
How we checked — last verified 17 July 2026
Axis publishes no closure notice for this card, so we checked its own credit-card lineup instead. Of the 40 cards Axis lists, 27 carry an “Apply Now” button and 13 don’t — and the 13 are its retired and paused cards, including the AURA, which Axis does openly mark “no longer available”. This card is in that group: Axis shows it a “Know More” button and no way to apply, while the cards it still sources keep theirs.
We re-check this and will lift the notice as soon as the card is open to new applicants again. If you find it back on the issuer's application flow before we do, tell us — a human reads everything.
In-depth review
IndianOil Axis Bank Premium Credit Card
The premium tier of the IndianOil Axis fuel card — the same effective ~4% on IOCL fuel as the base card, but with a ₹30,000 fee waiver (versus a steep ₹3.5 lakh), grocery rewards, up to 8 domestic lounge visits and a Zomato discount. A ₹1,000 card that, at roughly two tanks a month, effectively never charges its fee.
Read the full review →Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹500 in vouchers, points or cashback in year one — usually conditional on a first spend within 30–90 days
4 points/₹100 on Fuel (~4% value)
6 EDGE Miles per ₹150 (~4% value) on IndianOil fuel, up to 600 Miles (~₹15,000 fuel) a month; ~₹1 per Mile on IOCL fuel redemption
1.33% on Groceries
2 EDGE Miles per ₹150 (~1.3%) on grocery and supermarket spends, up to ₹5,000 a month
Airport Lounge Access
Up to 8 complimentary domestic lounge visits a year (2 per quarter), unlocked by ₹50,000 of spend in the previous quarter
Annual Fee Waiver
Fee of ₹1,000 + 18% GST (₹1,180 all-in)/yr fully waived when you spend ₹30,000/year
Fuel Surcharge Waiver
1% waiver on fuel transactions
⛽ FUEL BENEFITS
Co-branded card — maximum savings at IndianOil stations.
Up to 4%
Fuel reward rate
1%
Surcharge waiver
PARTNER FUEL STATIONS
- Co-branded card — maximum rewards at IndianOil fuel stations
- Up to 4% effective return on fuel purchases
- 1% fuel surcharge waiver at all fuel stations
✈️ TRAVEL BENEFITS
Lounge access, miles, forex rates and travel perks at a glance.
AIRPORT LOUNGE ACCESS
✓
Domestic lounges
₹4,000
Estimated annual value
3.5%
Forex markup
- Domestic airport lounge access (worth ~₹4,000/yr)
The IOCL loyalist who fills up regularly and wants the fuel card to actually clear its own fee. At ₹30,000 of annual spend the waiver is not a target you aim at — it is roughly two tanks a month, so the card is effectively free for anyone using it at all, and the domestic lounge access plus grocery rewards make it a more rounded everyday card than the bare-bones base IndianOil Axis.
Full reward structure
What you earn on every rupee, per spend category — as of 24 Oct 2026. Rates assume 1 pt = ₹1.00. How we value points →
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Fuelonly at Indian Oil (IOCL) | reward points | 4%4 pts/₹100 × ₹1.00 | ₹600 |
| Groceries | reward points | 1.33%1.33 pts/₹100 × ₹1.00 | ₹66 |
| Other | reward points | 0.67%0.67 pts/₹100 × ₹1.00 | — |
Fuel: 6 EDGE Miles per ₹150 (~4% value) on IndianOil fuel, up to 600 Miles (~₹15,000 fuel) a month; ~₹1 per Mile on IOCL fuel redemption · Indian Oil (IOCL)
Groceries: 2 EDGE Miles per ₹150 (~1.3%) on grocery and supermarket spends, up to ₹5,000 a month
Other: 1 EDGE Mile per ₹150 (~0.67%) on all other eligible spends
Earns nothing on: Rent · Wallet Loads · Fuel surcharge · EMI Conversions · Government & Tax · Tolls & Road Fees · Gift Cards & Vouchers
These spends earn no rewards at all — not a reduced rate, and not the base rate. They are also normally left out of any milestone or fee-waiver calculation.
Fees & charges
The numbers that matter beyond rewards — verify on the issuer site before applying. Fees below are shown inclusive of 18% GST, as of 24 Oct 2026.
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹1,180 |
| Joining fee (incl. 18% GST) | ₹1,180 |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1% |
Perks & benefits
Estimated annual value beyond rewards — ~₹4,600/yr in total.
Up to 8 complimentary domestic lounge visits a year (2 per quarter), unlocked by ₹50,000 of spend in the previous quarter
1% fuel surcharge waiver on IndianOil fuel transactions (₹400–4,000)
Should you get it?
- Best for: Drivers who refuel mainly at IndianOil pumps, Households routing grocery and everyday spends through one card, IOCL loyalists who want lounge access on a mid-fee fuel card
- Mid tier — a solid all-rounder for steady monthly spend.
- Strongest value if you spend heavily on Groceries (1.33% back; 4% only at Indian Oil (IOCL)).
- Frequent travellers benefit from the included airport lounge access.
Pros & cons
✓ Pros
- Effective ~4% value (6 EDGE Miles per ₹150) at IndianOil outlets
- ₹30,000 fee waiver — about ₹2,500 a month, against the base card's ₹3.5 lakh
- Up to 8 domestic lounge visits a year, grocery rewards and a Zomato discount
- 500 EDGE Miles welcome benefit on first spend within 30 days
✕ Cons
- Accelerated fuel rewards capped at 600 EDGE Miles (~₹15,000 fuel) a month
- Lounge access is spend-gated — needs ₹50,000 in the prior quarter to unlock
- HDFC's IndianOil card can earn more on the same IOCL pumps
Eligibility & documents
Documents required
- 📄PAN card
- 📄Aadhaar / valid address proof
- 📄Latest 3 months bank statement
- 📄Income proof — salary slips (salaried) or ITR (self-employed)
- 📄Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
- 🎁Redeem EDGE Miles against fuel at IndianOil outlets (~₹1 per Mile)
- 🎁Redeem on the Axis EDGE portal for vouchers and products
What your Axis EDGE Miles are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
≈₹1/mile, fixed, against any flight on the Axis Travel EDGE portal — no blackout
Floor — use only if miles are near expiry
Atlas: 1 EDGE Mile → 2 partner miles on most of the Axis partner list (Air India, KrisFlyer, Flying Blue, Aeroplan, Etihad, United, Turkish, Qantas, JAL and more) — 2:1 only to British Airways, Finnair, IndiGo BluChip, Qatar Privilege Club, Vietnam Lotusmiles, Cathay Asia Miles & Accor, and 1:1 to Orchid, Radisson & Miles & More. Olympus doubles that again at 1:4; Horizon 1:1; IOCL Premium 2:1. Group A cap ~30k/yr within a 1.5L ceiling (Atlas). Marriott removed Apr 2026; Qatar and Accor were cut then too but returned (Aug and Sep 2026) in that weak 2:1 band.
✈ Transfer partners
Direct transfers from this card only, ranked by what a point is worth in the destination programme — plus 19 more partners. Full calculator, every currency →
Away from IOCL fuel and grocery the earn rate is modest, and the lounge access is spend-gated (₹50,000 in the prior quarter) — so lighter spenders may never unlock it. HDFC's IndianOil card can still edge it on raw fuel value at the same pumps.
Frequently asked questions
What is the fuel earn rate?
Does the Premium card include lounge access?
How is the Premium different from the base IndianOil Axis card?
What is the annual fee waiver?
How will Axis apply my payment across the outstanding balance from 28 August 2026?
How has the IndianOil Axis Bank Premium Credit Card changed over time?
Has the IndianOil Axis Bank Premium Credit Card been devalued recently?
When did the IndianOil Axis Bank Premium Credit Card's fees last change?
How did the IndianOil Axis Bank Premium Credit Card change in 2026?
The bottom line
A more complete version of the base IndianOil Axis card: the same headline ~4% on IOCL fuel, but with a ₹30,000 fee waiver most holders clear on fuel alone, grocery rewards, lounge access and a Zomato perk that justify the higher ₹1,000 fee for anyone who spends beyond just petrol. If you only ever buy fuel, the base card is cheaper; if the card will carry your grocery and everyday spends too, the Premium earns its keep.
How this page was built
Counted from this card’s own record: 3 earn rules, 2 of them capped, 1 paid only at named merchants, the spends listed as earning nothing and 2 recorded perks. The renewal fee is conditional — it is waived on a published spend target, so the fee you pay depends on what you spend.
Last updated 24 Oct 2026.
Sources & verification
Fees, reward rates, and benefits for the IndianOil Axis Bank Premium Credit Card are taken from Axis Bank's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page. Last updated 24 Oct 2026. Reviewed by Devchandra Sah. Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for Axis Bank. All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
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Guides and reviews related to this card.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2024 · last change Sept 2026
2026
- ▲ TransferEffective 22 Sept 2026
Accor ALL returns as a transfer partner, in Group A
Accor ALL unavailable since 2 April 2026→Accor ALL back, in Group A
Accor Live Limitless is back in the EDGE transfer table, almost six months after Axis removed it on 2 April 2026. It returns in Group A, so it shares the smaller annual cap, and on several cards at a less generous ratio than the card gives its airline partners; the Atlas, for instance, moves 2 EDGE Miles into 1 Accor point where most of its airlines get 1 into 2. Check the card's own transfer table before planning a large transfer.
Verification: Axis Bank ↗ · Confidence: High
- ▲ TransferEffective 22 Sept 2026
Cathay Asia Miles, Lufthansa Miles & More and Hilton Honors added
None of the three available→Asia Miles in Group A; Miles & More and Hilton Honors in Group B
Three new programmes joined the EDGE transfer table in the same overnight change. Cathay Pacific Asia Miles sits in Group A with the smaller annual cap; Lufthansa Miles & More and Hilton Honors sit in Group B with the larger one. Ratios vary by card.
Verification: Axis Bank ↗ · Confidence: High
- ▼ TransferEffective 22 Sept 2026
Club ITC removed as a transfer partner
Club ITC available→Club ITC removed
Axis dropped Club ITC from its EDGE transfer table in the same overnight change. It had been one of the better-value hotel routes left after the April 2026 cut, since ITC points redeem against stays and dining at ITC hotels in India.
Verification: Axis Bank ↗ · Confidence: High
- ▼ TransferEffective 22 Sept 2026
Flying Blue, Air India and Qantas moved into the smaller Group A transfer cap
Group B (the larger annual transfer allowance)→Group A (a quarter of the Group B allowance); ratios unchanged
Axis moved Air France-KLM Flying Blue, Air India Maharaja Club and Qantas Frequent Flyer from Group B to Group A of its EDGE transfer partners, overnight and without notice. The conversion ratios did not change, but Group A carries a quarter of the Group B annual allowance, so far fewer points can reach these three programmes each year. On the Atlas, for example, the most that can go to Air India in a calendar year falls from 1,20,000 EDGE Miles to 30,000.
Verification: Axis Bank ↗ · Confidence: High
- ▼ FeeObserved 29 Jul 2026 · Effective 28 Aug 2026
Dynamic currency conversion markup more than doubles to 3.5%
1.5% + GST→3.5% + GST
Axis Bank raised the dynamic currency conversion mark-up from 1.5% to 3.5% plus GST. DCC applies when an overseas merchant offers to bill you in rupees instead of the local currency, and it stacks on top of the usual foreign-currency mark-up. Declining the rupee option at the terminal and paying in the local currency avoids the charge entirely.
Verification: Axis Bank ↗ · Confidence: High
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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