Credit Partners are typically Banks or NBFCs with whom IndianOil has already tied up for providing credit facility to you for fuel purchases. Please note that the credit facility is subject to the terms and conditions of our Credit Partner, which may be revised, from time to time without notice or may even be withdrawn.
IndianOil at present has tie ups with Sundaram Finance, Amex, HDFC Bank, Shriram Transport Finance, Tata Motors Finance, Mahindra Finance, Hinduja Leyland Finance for providing credit facility for buying fuel. IndianOil is also trying to add more numbers to this list to help you choose from a wider option.
Based on the overall credit limit approved by a credit partner to a card member, each of the Card is given a Daily Credit Limit, which can be used for making purchases of fuel/lubes. The Daily Credit Limit on the Card automatically gets reset at midnight (00:00 hours). You also have the option of using the credit limit to recharge your pre-paid account.
You can utilize the credit facility in two ways – either use the daily credit limit on the card directly for purchase of fuel at Indian Oil outlets or use the credit limit to recharge your pre-paid account.
Yes, you can combine the two facilities in a single card. In fact, this helps you to seamlessly purchase fuel depending on your cash flow and financial needs.
Yes, you can still apply for prepaid XTRAPOWER cards, if the credit partner rejects your application for credit facility.
The credit variant of the Card has two options: Interest bearing credit and Interest free credit. In case of interest free credit no interest charges would be payable by the card member for credit utilization for a specific period. In case of interest bearing credit, finance charges (as decided by the credit partner) would be payable by the card member for the utilized credit. Reward points would not be given on card usage under interest free credit option whereas rewards points would be offered under interest bearing credit option.
The credit partner shall periodically raise bills towards credit utilization/ charges. You shall settle all such payments directly with the credit partner.
You can apply for credit at any stage to any of the credit partners.
Yes. You will get loyalty points for some variants offered by Credit Partner where interest is not borne / subsidized by us.