BPCL SBI Card Octane Review

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The BPCL SBI Octane Credit Card is a premium offering designed for individuals who frequently spend on fuel, travel, and dining. It provides exceptional rewards and benefits, making it one of the best fuel credit cards in India. With a high reward rate of 7.25% on fuel purchases, this card is ideal for those who want to save significantly on petrol and diesel expenses.
In this article, we will explore all the key aspects of the BPCL SBI Octane Credit Card, including features, benefits, fees, charges, eligibility criteria, reward structure, and redemption options.

BPCL SBI Card Octane

Joining Benefits of BPCL SBI Card OCTANE

  1. Welcome Bonus:

6,000 reward points on payment of the joining fee.

  1. Fuel Savings:

7.25% value back (including 1% fuel surcharge waiver) on fuel purchases at BPCL petrol pumps.

25x reward points for every โ‚น100 spent on fuel at BPCL petrol pumps.

  1. Reward Points:

10x reward points for every โ‚น100 spent on dining, movies, and grocery purchases.

1 reward point for every โ‚น100 spent on all other retail purchases.

  1. Fuel Surcharge Waiver:

1% waiver on fuel surcharge at all petrol pumps across India.

  1. Annual Fee Waiver:

Annual fee waived on spending โ‚น3 lakh in a year.

  1. Airport Lounge Access:

4 complimentary domestic airport lounge visits per year.

  1. Dining Discounts:

Up to 10% off at select premium restaurants through the SBI Card Culinary Treats program.

  1. Exclusive Offers:

Special discounts and offers on shopping, travel, and lifestyle through SBI Cardโ€™s exclusive partnerships.

  1. Interest-Free Period:

Up to 50 days of interest-free credit.

  1. Comprehensive Insurance:

Complimentary personal accident insurance cover.

  1. Security Features:

EMV chip-enabled card for enhanced security against counterfeiting and skimming.

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Product Details

 

Card Type Credit Card
Issuer SBI
Best Suited For Fuel, Travel, Dining, and Entertainment
Joining Fee โ‚น1,499 + GST
Annual Fee โ‚น1,499 + GST
Interest Rate 3.5% Per Month
Welcome Benefits 6000 Reward Points

 

Key Features of BPCL SBI Octane Credit Card

  • Best suited for: Fuel, travel, and dining expenses
  • Joining Fee: โ‚น1,499 + GST
  • Renewal Fee: โ‚น1,499 + GST (waived if annual spending exceeds โ‚น2 lakh)
  • Interest Rate: 3.5% per month (42% per annum)
  • Foreign Currency Markup: 3.5% foreign currency markup on international transactions. An additional 18% GST is applicable on the markup fee.
  • Fuel Surcharge Waiver: 1% waiver on petrol purchases (up to โ‚น100 per statement cycle)
  • Reward Rate: 7.25% on fuel purchases
  • Reward Points Expiry: 2 years from the date of accumulation
  • Reward Redemption Fee: โ‚น99 per redemption request. This fee applies when converting accumulated reward points into statement credits, fuel, travel bookings, or vouchers.

BPCL SBI Octane Credit Card Benefits

The BPCL SBI Octane Credit Card is a premium fuel and travel credit card designed for individuals who frequently spend on fuel, travel, and lifestyle expenses. Hereโ€™s a complete breakdown of its features and benefits:

1. Welcome Benefits

  • Get 2,500 reward points as a welcome gift on card activation.
  • Reward points can be redeemed for fuel, vouchers, travel, and more.

2. Milestone Benefits

  • Annual fee waiver if you spend โ‚น2 lakh or more in a year.
  • Additional rewards on achieving spending milestones.

3. Airport Lounge Access

  • Enjoy 4 complimentary domestic airport lounge visits per year (1 per quarter).
  • Relax in premium lounges before your flight.

4. Fuel Surcharge Waiver

  • 1% fuel surcharge waiver on fuel transactions between โ‚น500 โ€“ โ‚น4,000 at BPCL outlets.
  • Maximum waiver of โ‚น100 per statement cycle helping users save on fuel expenses.

5. Travel Benefits

  • Earn accelerated reward points on travel bookings.
  • Redeem points for flights, hotels, and holiday packages.

6. Golf Benefits

  • Special discounts on golf sessions and memberships at select courses.

7. Insurance Benefits

  • Complimentary accidental death and travel insurance for added security.

8. Liability Protection

  • Zero liability cover on fraudulent transactions if lost/stolen card is reported immediately.

10. Fees & Charges

  • Joining Fee: โ‚น1,499 + GST
  • Annual Fee: โ‚น1,499 + GST (waived on โ‚น2 lakh annual spend)
  • Reward Redemption Fee: โ‚น99 per request

11. Foreign Markup Charges

  • 3.5% foreign currency markup on international transactions.

12. Interest Rate

  • 3.5% per month (42% per annum) on outstanding dues.

BPCL SBI Octane Credit Card Reward & Redemption

The BPCL SBI Octane Credit Card is designed for individuals who frequently spend on fuel, dining, travel, and lifestyle expenses. It offers high reward points on eligible transactions, allowing users to maximize their savings. Below is a detailed breakdown of its reward structure and redemption options.

Reward Points Structure

1. Maximum Rewards on Fuel Purchases

  • Earn 25 Reward Points per โ‚น100 spent at BPCL fuel stations.
  • This translates to a 7.25% value-back on fuel spending.
  • Reward points are capped at โ‚น250 per billing cycle on fuel transactions.

2. Accelerated Rewards on Dining, Movies & Grocery

  • Earn 10 Reward Points per โ‚น100 spent on dining, groceries, and movie tickets.
  • This provides extra benefits for everyday lifestyle expenses.

3. Base Rewards on Other Categories

  • Earn 1 Reward Point per โ‚น100 spent on all other retail purchases.

Reward Points Redemption

Cardholders can redeem their accumulated reward points for multiple options, including:

1. Fuel Redemption

  • Redeem points for free fuel at BPCL petrol pumps.
  • 4 Reward Points = โ‚น1 worth of fuel.

2. Travel & Lifestyle Redemption

  • Use reward points to book flights, hotels, and travel packages.
  • Redeem points for dining, shopping, and entertainment vouchers.

3. Statement Credit

  • Convert reward points into statement credit to adjust the outstanding balance.

4. Merchandise & Gift Vouchers

  • Redeem points for a variety of products, gadgets, and e-vouchers through the SBI Card Rewards Portal.

Reward Redemption Charges

  • Redemption Fee: โ‚น99 per redemption request.
  • Reward Points Expiry: 2 years from the date of accumulation.

BPCL SBI Credit Card Fees

1. Joining Fee

  • โ‚น1,499 + GST (one-time payment at card issuance).

2. Annual Fee (Renewal Fee)

  • โ‚น1,499 + GST (charged yearly).
  • Annual fee waiver if total annual spending exceeds โ‚น2 lakh.

3. Finance Charges (Interest Rate)

  • 3.5% per month (42% per annum) on outstanding amounts.

4. Foreign Currency Markup Fee

  • 3.5% on international transactions (converted to INR).

5. Cash Advance Fee

  • 2.5% of the withdrawal amount (minimum โ‚น500 per transaction).
  • Finance charges of 3.5% per month from the date of withdrawal.

6. Late Payment Charges

  • โ‚น0 for outstanding amounts up to โ‚น500.
  • โ‚น400 for โ‚น501 โ€“ โ‚น1,000.
  • โ‚น750 for โ‚น1,001 โ€“ โ‚น10,000.
  • โ‚น950 for โ‚น10,001 โ€“ โ‚น25,000.
  • โ‚น1,100 for โ‚น25,001 โ€“ โ‚น50,000.
  • โ‚น1,300 for amounts above โ‚น50,000.

7. Reward Redemption Fee

  • โ‚น99 per redemption request.

8. Overlimit Fee

  • 2.5% of the over-limit amount (minimum โ‚น600).

9. Card Replacement Fee

  • โ‚น100 per replacement card request.

10. EMI Conversion Charges

  • 1.5% of the transaction amount (minimum โ‚น199 processing fee).

How Can We Apply for BPCL SBI Octane Credit Card?

You can apply for the BPCL SBI Octane Credit Card online by following these steps:

  • Visit www.sbicard.com and click "Apply Now".
  • Fill in personal, employment, and income details.
  • Upload KYC documents (ID, address, and income proof).

BPCL SBI Octane Credit Card Eligibility

To be eligible for this credit card, applicants must meet the following criteria:

  • Age: Between 21 to 60 years
  • Occupation: should be salaried or self employed
  • Income Requirement: โ‚น25,000 per month (indicative, subject to SBI Card's discretion)
  • Credit Score: it should be 750+ is considered good credit score

Who can buy this BPCL SBI Octane Credit Card?

This card is best suited for:

โœ” Frequent drivers and commuters who spend a lot on petrol or diesel
โœ” Individuals who frequently dine out or travel
โœ” People looking for a fuel card with additional lifestyle benefits
โœ” Existing SBI Card users looking to upgrade to a premium fuel credit card

If fuel savings and reward points are your priority

Final Verdict: Is BPCL SBI Octane Credit Card Worth It?

If you are frequently traveller then BPCL SBI Octane Credit Card is the best fuel credit card for you. With 7.25% savings on fuel, accelerated rewards on dining and travel, and complimentary lounge access, it provides a great mix of rewards and privileges.

However, the reward redemption fee and foreign currency markup may be a downside for some users. If you spend heavily on fuel and dining, this card can help you save significantly over time.

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