Mumbai: With an aim to provide cardholders with attractive rewards and benefits, the Indian Oil Corporation Limited (IOCL) and RBL Bank have launched a co-branded credit card at the Global Fintech Fest in Mumbai. This strategic partnership will enable customers to earn up to 250 liters of petrol annually and provide them with a single platform to manage their fuel purchases and earn valuable reward points on every transaction.
The key features of the co-brand card include:
- It will offer 8.5% savings on fuel purchases.
- Users will receive 3000 fuel points as a welcome benefit if they spend Rs 1500 within 30 days of issuance of the card.
- By using the card at Indian Oil pumps, customers can earn 15 fuel points for every Rs 100 spent, with a maximum of 2000 points per month.
- For all other kinds of purchases, the card will give 2 fuel points per Rs 100 spent.
- Users who reach the quarterly spending milestone of Rs. 75,000 will receive 1000 fuel points.
The card has contactless technology that will allow for easy tap-and-pay transactions. It will also support UPI payments, enabling the cardholders to link the card with UPI apps for payments using merchant UPI QR codes. The credit card will be accepted at all online websites and merchant outlets that support RuPay cards.
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