Key takeaways
- BPCL SBI Card (₹499) returns about 4.25% at BPCL pumps. IndianOil HDFC (₹500) about 5% at IndianOil, both with monthly caps.
- IndianOil HDFC waives its fee at ₹50,000 a year. BPCL SBI's renewal fee is reversed at ₹1 lakh.
- At ₹5,000+ a month on BPCL fuel, the ₹1,499 BPCL SBI OCTANE usually pays more despite its fee.
- Fuel rewards only work at the partner oil company's pumps.
Most credit cards earn nothing on fuel. The best they offer is a 1% surcharge waiver. If petrol or diesel is a big monthly expense, a co-branded fuel card can save you 4–5% instead. The good news is that you don't need a premium card. Two solid fuel cards cost ₹500 a year or less, and both waive the fee if you spend enough.
The two best fuel cards under ₹500
BPCL SBI Card
₹499 + GST · Waived on ₹1,00,000 yearly spend · Forex 3.5%
- 4.25% value back on fuel at BPCL pumps
- 5X reward points on groceries, department stores, movies and dining
- 2,000 bonus points on paying the joining fee
Watch out: Fuel rewards only at BPCL
IndianOil HDFC Bank
₹500 + GST · Waived on ₹50,000 yearly spend · Forex 3.5%
- 5% back as Fuel Points at IndianOil pumps
- 5% on groceries and bill payments
- Fee waived at just ₹50,000 yearly spend
Watch out: Low monthly caps on Fuel Points
How much will you actually save?
Here's the estimated yearly value for three fuel budgets, including other everyday spends, after caps and fees (with GST). The ₹1,499 BPCL SBI Card OCTANE is included for reference:
| Spending pattern | BPCL SBI | IndianOil HDFC | BPCL SBI Octane |
|---|---|---|---|
| ₹3,000 fuel / month ₹14,500/month | ₹2,535 | ₹4,382 ★ | ₹2,671 |
| ₹6,000 fuel / month ₹21,000/month | ₹4,350 | ₹4,843 | ₹7,560 ★ |
| ₹10,000 fuel / month ₹28,000/month | ₹6,600 | ₹4,924 | ₹8,820 ★ |
Which one should you pick?
- Your nearest pump is BPCL: BPCL SBI Card returns about 4.25% on BPCL fuel, and 5X points on groceries and dining help it earn outside fuel too.
- Your nearest pump is IndianOil: IndianOil HDFC Bank returns about 5% as Fuel Points, and it has the easiest fee waiver of the two at ₹50,000 a year.
- You spend ₹5,000+ a month on BPCL fuel: it's worth stepping up to the ₹1,499 BPCL SBI Card OCTANE (about 7.25% at BPCL). Its extra rewards cover the higher fee, as the table above shows. Below that, stick with a ₹500 card.
Fuel card tips
- The 1% surcharge waiver usually applies only to transactions within a range (for example up to ₹4,000) and up to a monthly limit. Very large single fill-ups may not qualify.
- Fuel rewards only apply at the partner oil company's pumps. Make sure one is on your daily route.
- Pair your fuel card with a cashback card like SBI Card Cashback or Amazon Pay ICICI Bank for non-fuel spends.
See all options in our best fuel credit cards ranking.
Understanding the fuel caps
- IndianOil HDFC Bank: 5% as Fuel Points at IndianOil, capped at 250 points a month for the first 6 months and 150 a month after that. Groceries and bill payments each earn 5%, capped at 100 points a month.
- BPCL SBI Card: 13 reward points per ₹100 at BPCL (3.25%) plus a 1% surcharge waiver, with fuel points capped at 1,300 a month. The waiver applies to transactions up to ₹4,000, capped at ₹100 a month.
- BPCL SBI Card OCTANE: about 7.25% at BPCL, with accelerated rewards on up to about ₹7,000 of fuel a month since May 2026.
Because of these caps, the IndianOil card's value flattens after about ₹3,000 of fuel a month. That's why it leads at low fuel spend but falls behind at higher spend in the table above.
Fuel surcharge waiver explained
Pumps add a 1% surcharge on card payments. Cards that waive it usually do so only within a transaction range (for example, ₹400–₹4,000) and up to a monthly cap. GST on the surcharge may not be waived. Very large fill-ups may fall outside the range, so split them if needed.
Using fuel points
Fuel Points and reward points are redeemed for fuel at the partner's outlets or through the bank's catalogue. Redeem regularly. Points can expire, and our expiry tracker helps you keep an eye on them.
FAQs
Which fuel credit card has the lowest fee?
BPCL SBI Card (₹499) and IndianOil HDFC Bank (₹500) are the best fuel cards at ₹500 or less a year. Both waive the renewal fee on ₹1 lakh and ₹50,000 yearly spend respectively.
Is a fuel credit card worth it?
If you spend ₹3,000 or more a month on fuel at one oil company's pumps, a fuel card typically saves ₹1,500–₹4,000 a year more than a regular card.
Do fuel cards work at all petrol pumps?
The 1% surcharge waiver often works at any pump, but accelerated fuel rewards only apply at the partner brand (BPCL for SBI cards, IndianOil for the IndianOil HDFC card).
Which is better: BPCL SBI or IndianOil HDFC?
It depends mainly on which pump you use and how much. IndianOil HDFC leads at low fuel spend thanks to its easy waiver, and BPCL SBI pulls ahead at higher spend at BPCL pumps.
Can I use a fuel card for other spends?
Yes, but most fuel cards earn little outside fuel (around 0.25–0.67% on our estimates), so pair one with a good everyday card.
