ICICI Bank
HPCL Coral
The HPCL Coral is a high-efficiency fuel card offering a 4% total value-back (2.5% cashback + 1% surcharge waiver + 0.
Direct link to the issuer's website. Terms apply — verify current offer with the bank.
Data last updated 31 May 2026.
At a Glance
Annual Fee
₹199
Joining Fee
₹199
Fee Waiver
Spend ₹50,000 annually
Lounge Access
See details
Forex Markup
3.5%
Effective Yield
0.5% – 3.5%
Our Take
The HPCL Coral is a high-efficiency fuel card offering a 4% total value-back (2.5% cashback + 1% surcharge waiver + 0.5% loyalty points) at HPCL stations. With a low ₹199 annual fee and its availability on the RuPay network, it’s the most practical "pocket-friendly" choice for daily commuters looking to monetize their fuel spends and UPI payments.In 2026, the HPCL Coral remains a staple for moderate drivers, though it has adopted ICICI’s stricter lifestyle criteria. Effective April 2026, the 1 complimentary domestic lounge visit per quarter now requires a ₹35,000 spend in the previous quarter, though railway lounge access remains unconditional. An unbiased review must highlight the ₹200 monthly cap on accelerated fuel rewards, which covers roughly ₹8,000 in monthly fuel spending—sufficient for most car owners but tight for heavy travelers. While its 0.5% base reward rate is modest, the 25% movie discount (up to ₹100) via BookMyShow and the ₹50,000 fee-waiver threshold keep it highly maintainable for entry-level users.
Pros
- Elite 4.5% Fuel Value-Back: Earns 2.5% cashback (capped at ₹100/month) plus a 1.5% reward rate (6 points per ₹100) and 0.5% in HP Pay app points. For a daily city commuter, this 4.5% total yield is a best-in-class return for a sub-₹200 fee card.
- Integrated 1% Fuel Surcharge Waiver: Provides a 1% waiver at all HPCL pumps for transactions up to ₹4,000. Unlike 'unbranded' cards that have slashed waivers in 2026, this co-branded card ensures your 'surcharge-free' fuel budget remains intact.
- The 2026 'UPI-Native' Advantage: Available on the RuPay network, it allows your readers to link the card to UPI apps. You earn the base reward rate (0.5%) on every 'Scan & Pay' transaction, which is ideal for small local merchant spends where you usually get nothing.
- Ultra-Low Fee Waiver Hurdle: The ₹199 annual fee is waived on an annual spend of just ₹50,000. For anyone spending ~₹4,200 a month on petrol and basic groceries, this card effectively becomes Lifetime Free (LTF) without even trying.
- Movie 'Bite-Sized' Benefits: Offers a 25% discount (up to ₹100) twice a month on BookMyShow and INOX. While not a 'Buy 1 Get 1' deal, it still provides ₹2,400 in potential annual movie savings for a card that costs less than ₹200.
Cons
- The 2026 'Lounge Desert': As of the latest 2026 policy, the HPCL Coral has **zero** domestic and international airport lounge access. If your readers want a lounge, they must now 'step up' to the HPCL Super Saver or the standard Coral (which now requires a ₹75k quarterly spend).
- Punitive 'Cashback Cap': The 2.5% fuel cashback is strictly capped at ₹100 per month. This means you only get the maximum cashback on your first ₹4,000 of fuel. For heavy commuters or SUV owners, the reward rate 'falls off a cliff' after the first two tank-ups.
- The 2026 'Utility' Zero-Zone: In line with ICICI’s 2026 unified policy, reward points on Utilities, Insurance, and Education are capped at very low monthly thresholds (typically 1,000 points). For 'big-ticket' bill payments, this card is no longer a top choice.
- New 2026 'Redemption Friction': ICICI now charges a flat ₹99 + GST fee for all point-to-statement-credit redemptions. For a card that earns points slowly (0.5% base), your readers will have to wait a long time to 'break even' on this redemption fee.
- Strict 'ICICI Swipe' Requirement: To get the 2.5% cashback and 1% waiver, the card *must* be swiped on an ICICI Merchant Services (IMSL) machine. If the petrol pump uses a HDFC or Axis POS machine, you will only earn base rewards and pay the full surcharge.
Earning & Redemption
How You Earn
| Category | Reward rate | Yield % | Cap |
|---|---|---|---|
| HPCL Fuel & Lubricants | 2.5% Cashback + 1% Surcharge Waiver | 3.50% | Cashback capped at ₹100 per billing cycle |
| All Other Retail Spends | 2 Reward Points (RP) per ₹100 | 0.50% | No Upper Cap |
| Utilities & Insurance | 1 RP per ₹100 | 0.25% | Insurance points capped at ₹40,000 monthly spend |
| Excluded Categories (2026 Update) | No Points Earned | 0.0% | — |
Milestone Rewards
| Spend | Benefit | Value | Summary |
|---|---|---|---|
| ₹0.5 Lakh | Fee Waiver0 pts | ₹199 + GST Savings | Annual renewal fee is waived upon hitting ₹50,000 annual retail spend. |
Redemption Value
| Channel | Value per point | Verdict |
|---|---|---|
| HPCL Fuel (Instant) | ₹0.25 per point4:1 Ratio | Best Value (Redeem points for fuel at HPCL pumps via the HP Pay App or physical swipe) |
| ICICI Rewards Catalogue (Vouchers) | ₹0.25 per point4:1 Ratio | Alternative (Good for Amazon/Flipkart vouchers; ₹99 redemption fee applies) |
What You Need to Know
The 'Zero Lounge' Reality
Unlike the regular ICICI Coral, the HPCL Coral variant offers ZERO airport lounge access.
Impact: Users traveling by air must hold a secondary card for lounge benefits.
Fuel Reward Cap
The 2.5% cashback is capped at a very low ₹100 per month.
Impact: This means your 2.5% yield stops after spending just ₹4,000/month on fuel.
Essential Fine Print
Reward Exclusions
Excluded Categories: Fuel (earns accelerated points only), Cash advances, EMI transactions, and Wallet load.
Milestone Benefits
Annual Fee Waiver
Renewal fee of ₹199 waived on annual spends exceeding ₹50,000.
Additional Features
Movie Discounts
25% discount up to ₹100 per transaction on BookMyShow and Inox; can be availed twice a month.
Embedded Microchip
Comes with a contactless chip for enhanced security and faster payments.
Fees & Charges
| Fee Type | Amount / Details |
|---|---|
| Joining Fee | ₹199 |
| Annual / Renewal Fee | ₹199 |
| Fee Waiver Threshold | Spend ₹50,000 annually |
| Forex Markup | 3.5% |
| Reward Redemption Fee | ₹99 per redemption |
| Fuel Surcharge Waiver | 1% surcharge |
Eligibility Criteria
Age
Primary applicant must be between 21 and 65 years of age.
Employment
Salaried individual with a monthly income of ₹20,000; Self-employed individual with an annual income of ₹2,40,000
Citizenship
An Indian citizen.
Ready to apply for HPCL Coral?
Annual fee: ₹199 · Waived on ₹50,000 spend
Annual fee
₹199
0.5% – 3.5% yield