IndianOil Axis Bank cashback rate, cap and annual fee
IndianOil Axis Bank pays 4% at IndianOil outlets — on the first INR 5,000 you spend on it each month, which is where the INR 200 cap stops it. The card costs INR 500 a year.
Axis Bank · India · catalogue v101
Read from Axis Bank's own published terms on 20 Sep 2026.
INR 500Annual fee
4%Best rate
What it pays, by category
| Spending | Rate | Monthly cap |
|---|---|---|
| IndianOil outletsfuel | 4.00% | INR 200reached at INR 5,000 of spendIndianOil outlets, on transactions settling between ₹400 and ₹4,000. 1,000 points a month, reached at ₹5,000 of fuel. |
| online and delivery | 1.00% | INR 50reached at INR 5,000 of spendOnline merchants, on transactions between ₹100 and ₹5,000. 250 points a month, reached at ₹5,000 of online spend. |
| fuel | 0.20% | —Fuel anywhere else earns the base one point per ₹100. |
| everything else | 0.20% | —One EDGE REWARD Point per ₹100 on everything else, which is 0.2% once the point is priced. |
| rent and property | None | —Rent earns no points. |
| government | None | —Utilities and government institutions earn no points. |
| education | None | —Education earns no points. |
A fuel card that is honest about being one. The 4% at IndianOil is real — 20 points per ₹100, and Axis calls it 4% itself, which is the third place on its own site where the ₹0.20 point value checks out. It runs out at ₹5,000 of fuel a month, and only on transactions settling between ₹400 and ₹4,000, settlement meaning the pump price plus the surcharge plus GST on the surcharge. Fuel at any other brand drops to the base rate, so the card is recorded with two fuel rules and the app takes the lower of them unless you name the station. Online shopping earns 1% up to ₹5,000 a month; past that ceiling Axis pays the 0.2% base, which this entry cannot express, so the card is slightly understated for heavy online months. Rent, utilities, government, education, insurance, jewellery and wallet loads earn nothing. Fee ₹500 to join and ₹500 a year, waived above ₹3,50,000 of annual spend. Redeeming costs ₹99 a transaction, which is worth knowing before chasing a 1,000-point balance. Source: axisbank.com product page, checked 20 Sep 2026.
Questions people ask
What cashback does the IndianOil Axis Bank pay?
4% at IndianOil outlets, 1% on online and delivery, 0.2% on fuel and 0.2% on everything else. The top rate is capped at INR 200 a month.
Is there a cap on the IndianOil Axis Bank?
Yes. indianoil outlets is capped at INR 200 a month; online and delivery is capped at INR 50 a month.
What is the annual fee on the IndianOil Axis Bank?
INR 500 a year.
Knowing the rate is not the same as remembering it
PayperWIZ holds the cards you actually own and names the right one at the till — after the cap you have already used this month, and after the foreign-currency fee. It works offline and never connects to a bank.
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