Are rising petrol and diesel prices making you anxious? If so, there’s exciting news that could save you significantly on fuel costs. The newly introduced IndianOil RBL Bank Extra Credit Card promises to offer substantial savings on fuel purchases. With this credit card, you can enjoy an impressive 8.5% discount on every petrol and diesel refill. RBL Bank, a private sector bank, has collaborated with Indian Oil Corporation Limited (IOCL) to launch this co-branded RuPay contactless credit card. Let’s dive into the details of this card and how you can maximize your savings.
About the RBL Bank Extra Credit Card
This innovative fuel credit card was recently launched at the Global Fintech Fest 2024 in Mumbai. Based on the NPCI’s RuPay network, it can be used at numerous online platforms and merchant outlets that accept RuPay cards.
Advantages of UPI Payments
Because the RBL Bank Extra Credit Card operates on the RuPay Network, it enables you to take advantage of the Unified Payments Interface (UPI) as well. You can link this credit card with UPI apps and make payments at local shops by simply scanning the merchant’s UPI QR code. Additionally, you can also conduct online payments using this card at various merchants.
Why This Card Stands Out
- Enjoy a welcome benefit of 3,000 Fuel Points when you spend ₹1,500 within the first 30 days of receiving your RBL Bank Extra Credit Card.
- Earn 15 Fuel Points (reward rate of 7.5%) for every ₹100 spent at Indian Oil filling stations, with a monthly cap of 2,000 Fuel Points in this category.
- For purchases made in other categories, earn 2 Fuel Points (reward rate of 1%) on every ₹100 spent.
- Receive a milestone benefit of 1,000 Fuel Points when your quarterly spending reaches ₹75,000.
- When purchasing fuel between ₹500 to ₹4,000, you won’t incur a fuel surcharge. You could save up to ₹100 in fuel surcharges in one billing cycle.
- This card features contactless technology, enabling tap-and-pay convenience. You can make payments without swiping the card, simply by tapping it on the POS machine.
Membership Fees and Charges
- The annual membership fee for the RBL Bank Extra Credit Card is ₹1,500.
- However, if you spend ₹2.75 lakh or more in a year, the annual fee will be waived.
Maximize Your Benefits
To leverage the full potential of your RBL Bank Extra Credit Card, it’s essential to be aware of the different categories through which you can earn rewards. Regularly track your fuel expenses and take advantage of the promotional offers associated with the card. Additionally, consider linking your card to various UPI apps to facilitate seamless transactions, whether at filling stations or local retailers.
Table of Benefits Overview
| Benefit | Details |
|---|---|
| Welcome Bonus | 3,000 Fuel Points on spending ₹1,500 within 30 days |
| Fuel Points on Indian Oil | 15 Fuel Points on every ₹100 spent (Max 2,000 points/month) |
| General Spending | 2 Fuel Points on every ₹100 spent |
| Quarterly Spending Bonus | 1,000 Fuel Points for spending ₹75,000 |
| Fuel Surcharge Waiver | No surcharge on fuel purchases between ₹500-₹4,000 |
| Membership Fee | ₹1,500 (waived on spending ₹2.75 lakh/year) |
In conclusion, the RBL Bank Extra Credit Card offers an excellent opportunity for those looking to save on fuel expenditures while also enjoying the perks of a credit card. Be proactive in understanding the card’s benefits, and you will find it a valuable companion in your financial journey.
