By Rajat Gaur
Updated On September 10, 2021

The State Bank of India, which is the second most popular card issuer in the country after HDFC, launched the BPCL SBI Card Octane in December 2020. It is an upgraded version of the BPCL SBI credit card. While the Octane variant does offer better rewards and offers, it also comes with a much higher annual fee (Rs. 1499 compared to just Rs. 499 for the non-Octane variant). The BPCL SBI Card Octane gives you 7.25% value back on fuel purchases at Bharat Petroleum fuel stations: 6.25% as reward points (25x reward rate) and 1% as fuel surcharge waiver. You also get 10x reward points for spends on dining and movie tickets. If you travel a lot by car or motorbike, this is probably one the best credit cards in the market right now. Like most other credit cards, this card also supports contactless payments, and you need not even enter the PIN for transactions up to Rs. 5000.

Best Suited For

Fuel |

Joining Fee

Rs. 1,499 (plus applicable taxes)

Reward Type

Fuel Points |

Product Details

  • 6000 Bonus reward points as a welcome benefit.
  • 25 reward points per Rs. 100 on fuel purchases at BPCL refill stations (maximum 2500 reward points per month) and on lubricants and Bharat gas spends (app and website only).
  • 10 reward points on every Rs. 100 spent on groceries, departmental stores and movie ticket purchases (maximum 7500 reward points per month).
  • 1 reward point for every Rs. 100 spent on all other retail purchases, except mobile wallet uploads and expenditures on non-BPCL fuel stations.
  • 1% fuel surcharge waived on all petrol stations across India (on transactions up to Rs. 4000, with maximum amount waived capped at Rs. 100 per statement cycle).
  • 4 complimentary domestic lounge access every year (1 per quarter).
  • Gift Vouchers worth Rs 2,000 from Aditya Birla Fashion or Yatra or Urban Ladder or Hush Puppies or Bata on annual expenditure of Rs. 3,00,000 or above.
  • Renewal fee waived off if Rs. 2,00,000 were spent in the previous year.

Rewards and Benefits

Welcome Benefits

6,000 bonus reward points as a joining benefit, and every year the membership is renewed (provided the annual fee is paid).

Movie & Dining

10x reward points on every Rs. 100 spent on dining and movie tickets.

Rewards Rate

25 reward points per Rs. 100 spent at BPCL fuel stations and on lubricants and Bharat Gas purchases (on BPCL website or app), 10 reward points per Rs. 100 spent on groceries, departmental stores and movie ticket purchases, and 1 reward point per Rs. 100 for all other expenditures except mobile wallet uploads and fuel purchases at non-BPCL stations.

Reward Redemption

Reward points redeemable against gift vouchers on sbicard.com or on SBI mobile app, for purchases at BPCL petrol stations and against cash (card’s statement balance). 4 reward points = Re. 1.

Travel

Complimentary domestic airport lounge access

Golf

N/A

Domestic Lounge

4 complimentary domestic lounge access every year (1 per quarter).

International Lounge

N/A

Insurance Benefits

N/A

Zero Liability Protection

Cardholder not liable for any fraudulent transaction post the time of reporting the loss of card to the bank.

Fees & Charges

Joining Fee

Rs. 1,499 (plus applicable taxes)

Renewal Fee

Rs. 1,499 (plus applicable taxes)

Spend based Waiver

Next year’s renewal fee waived on annual expenditure of Rs. 2 lakh.

Rewards Redemption Fee

Rs. 99 (plus applicable taxes) for each reward redemption request.

Rewards Redemption Fee

Rs. 99 (plus applicable taxes) for each reward redemption request.

Foreign Currency Markup

3.5% of the transaction amount

Interest Rates

3.65% per month (43.8% per annum)

Fuel Surcharge

1% fuel surcharge waived at all fuel stations across India on transactions up to Rs. 4,000

Cash Advance Charge

2.5% of the withdrawn amount (subject to a minimum charge of Rs. 500)

Add-on Card Fee

Nil

BPCL SBI Credit Card Octane Welcome Benefits:

You get 6,000 bonus reward points as a welcome benefit with the BPCL SBI credit card Octane. You will also get 6,000 points every time the card membership is renewed, provided that the membership fee is paid (not waived off).

BPCL SBI Credit Card Octane Rewards:

  • You earn accelerated reward points (25 reward points for every Rs. 100 spent) on fuel purchases at BPCL fuel stations using the BPCL SBI Card Octane.
  • 10x reward points (10 points/Rs. 100) on expenditures on dining, departmental stores and movie ticket purchases.
  • 1 reward point per Rs. 100 spent on all other expenditures.
  • Reward points not earned on fuel purchases at non-BPCL stations and mobile wallet uploads.

Rewards Redemption:

Reward points can be redeemed in the following ways:

  • On sbicard.com or on SBI’s mobile app for purchasing gift vouchers.
  • Against cash (i.e. against the statement balance of the card) by writing an email or calling SBI’s customer care.
  • At BPCL fuel stations.
  • 4 Reward Points are equivalent to Re. 1.
  • The reward points earned expire after 2 years (24 months) from the date of accumulation.

Milestone Benefits:

The annual renewal fee for the next year is waived off on an annual expenditure of Rs. 2,00,000 in the previous year.

Travel Benefits:

You get 4 domestic lounge access every year (1 per quarter) as a travel benefit with the BPCL SBI card Octane.

Dining and Movie Benefits:

You earn accelerated reward points at 10x rate on dining bills at select restaurants.

Foreign Currency Markup:

A markup of 3.5% (exclusive of taxes) is applicable on transactions made in a foreign currency.

Fuel Surcharge:

1% fuel surcharge is waived off at all petrol stations across India (on transaction up to Rs. 4,000). The maximum surcharge waived is capped at Rs. 100 per payment cycle (per month).

BPCL SBI Credit Card Octane Eligibility:

SBI has not explicitly stipulated any eligibility criteria for the card. However, they have a portal called Simplyfier to check which SBI credit card best suits your needs.

How to apply for BPCL SBI Credit Card Octane:

You can apply for the credit card online on sbi.com or using their chatbot ELA. Alternatively, you can also dial their helpline at 39020202 (prefix STD code) or visit your nearest SBI branch and submit the required documents.

Customer Care:

SBI offers 24×7 customer care support to its credit cardholders. To report loss of card or for any queries, you can dial their toll-free helpline number 1860 180 1290 or 1800 180 1290. Alternatively, you can also dial 39020202 (prefix STD code). You can also block your SBI credit card just by sending an SMS – BLOCK to 5676791.

Conclusion:

The BPCL Credit Card Octane by SBI is certainly one of the best options available in the market as far as fuel credit cards are concerned. If you are already using the BPCL SBI credit card, it’s a good idea to consider an upgrade, particularly if you are someone who prefers road trips over air travel (nevertheless, this card also does offer air travel benefits like 4 complimentary domestic lounge access every year). Do let us know your opinion of the card in the comments section. Also, if you’re an existing cardholder, feel free to share your experience.

FAQs:

4 reward points = Re. 1.

The reward points are valid for a period of 24 months (2 years) from the date of accumulation.

No. You get reward points only at BPCL (Bharat Petroleum) fuel stations. However, the 1% fuel surcharge waiver is applicable at all fuel stations across India.

Yes, but only if the membership fee is paid, and not waived off (i.e. you spent less than Rs. 2 lakh in the previous year).

Yes, the reward points can be redeemed for paying the card bills. For this, you need to contact the bank’s customer care.

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