By Rajat Gaur
Updated On August 9, 2022

SBI Card launched 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 carries a much higher annual fee of Rs. 1,499 whereas the other variant had a fee of Rs. 499 only. 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) along with a 1% as fuel surcharge waiver.

You also get 10x reward points for spends on dining and movie tickets apart from the fuel benefits. As far as travel benefits are concerned, the card entitles you with 4 complimentary access to domestic airport lounges every year (max 1 per quarter).

If you travel a lot by car or motorbike, this is probably one of the best offerings in the market right now as you get quite a high reward rate of 6.5% (and 1% surcharge waiver) on fuel spends at all BPCL stations across the country (the 1% surcharge waiver is applicable even at non-BPCL stations). Keep reading to know more about the Octane card.

(5/5)

Best Suited For

Fuel |

Joining Fee

Rs. 1,499 (plus applicable taxes)

Reward Type

Fuel Points |

Product Details

  • Get 6,000 Bonus RPs on the realization of the annual membership fee as a welcome benefit.
  • 25 reward points on spending Rs. 100 for fuel purchases at BPCL refill stations (maximum 2,500 reward points per month).
  • 10 reward points per Rs. 100 spent on groceries, departmental stores and movie ticket purchases (maximum 7,500 reward points per month).
  • 1 reward point per Rs. 100 you spend on other retail purchases, except mobile wallet uploads and expenditures on non-BPCL fuel stations.
  • 1% fuel surcharge waived on all petrol transactions up to Rs. 4,000.
  • 4 complimentary access to domestic lounges annualy (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 last year.
  • Complimentary Fraud Liability cover of Rs. 1 Lakh

Rewards and Benefits

Welcome Benefits

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

Movie & Dining

10x reward points for every Rs. 100 you spend on dining and movie tickets.

Rewards Rate

25 reward points for every Rs. 100 spends at BPCL fuel stations (reward rate = 6.25%), 10 RPs for every Rs. 100 spends on groceries, departmental stores, and movie ticket purchases (reward rate = 2.5%), and 1 reward point for every Rs. 100 spent for all other expenditures (reward rate = 0.25%) except mobile wallet uploads and fuel purchases at non-BPCL stations.

Reward Redemption

Redeem reward points for gift vouchers on sbicard.com or on SBI mobile app, for transactions at BPCL petrol stations, and against card’s statement balance. 4 reward points = Re. 1.

Travel

Complimentary domestic airport lounge visits

Golf

N/A

Domestic Lounge Access

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

International Lounge Access

N/A

Insurance Benefits

N/A

Zero Liability Protection

No liability to the cardholder if the loss of the card is reported to the bank within stipulated time.

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) per redemption request.

Rewards Redemption Fee

Rs. 99 (plus applicable taxes) per redemption request.

Foreign Currency Markup

3.5% of the transaction amount

Interest Rates

3.5% per month (42% per annum)

Fuel Surcharge

1% fuel surcharge waiver on transactions up to Rs. 4,000 (max waiver of Rs. 100 in a month)

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 Features and Benefits

The BPCL SBI Card Octane is a great fuel credit card offering a good reward program and several other exciting advantages. The following are the detailed features of the card:

Welcome Benefits:

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

Milestone Benefits:

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

Travel Benefits:

You get 4 complimentary domestic airport lounge visits 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 a 10x rate (10 reward points for every Rs. 100 spent) on dining bills at select restaurants. (Up to 7500 Reward Points every month)

Fuel Surcharge:

Get a 1% waiver on the fuel surcharge for fuel transactions made up to Rs. 4,000 at all petrol pumps across India. Note that the maximum waiver of Rs. 100 can be availed in a month.

BPCL SBI Credit Card Octane Rewards:

  • 25X reward points (25 reward points every time you spend Rs. 100) on fuel transactions at BPCL fuel stations using the BPCL SBI Card Octane. (Maximum 2500 Reward Points per billing cycle)
  • 10x reward points (10 points/Rs. 100) on expenditures on dining, departmental stores, and movie ticket purchases. (Up to 7500 Reward Points per month)
  • 1 reward point for every Rs. 100 you spend 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 bill 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.

BPCL SBI Credit Card Octane Eligibility Criteria

The BPCL SBI Octane card does not have any fixed eligibility criteria. However, the bank has a portal – Simplyfier to review which SBI credit card suits your needs. The following are the basic criteria that one needs to fulfill to get a SBI Card:

  • The applicant should be above 18 years of age.
  • The applicant should be having a stable income.
  • The applicant should be having a good credit history/score.

Documents Required

The following table specifies the documents that are required to get <

Document Proof Documents acceptable
Identity Proof PAN Card, Ration Card, Aadhaar card, Voter’s ID, etc.
Address Proof Passport, Driving License, Utility Bills, Aadhaar card, Ration card, etc.
Income Proof Latest bank statements or salary slips, Latest ITR.

How to apply for BPCL SBI Credit Card Octane?

The applicants can apply for the Octane credit card offline by visiting the branch nearest to them and fill in the application thereby. Also, there is an option to apply for the card online, by using the chatbot ELA on the website or by the following way:

  • Visit the official website of SBI Card.
  • You will see a page where all the SBI Credit Cards are shown under different categories.
  • Under the travel and fuel category, find the BPCL SBI Card Octane.
  • Click ‘Apply now’ and proceed further accordingly.

Customer Care:

For any queries or to report loss of the card, SBI offers 24×7 customer care support for every cardholder. Simply dial any of these toll-free numbers- 1800 180 1290or 1860 180 1290. Also, you can also contact the bank at 39020202 (prefix STD code). To block the card, SMS – BLOCK to 5676791.

Conclusion:

The BPCL Credit Card Octane by SBI is no doubt one of the great 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 visits every year). Drop your views on the Octane card down in the comments below also if you already hold the card let us share your experience with us as well as others.

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.

4 Comments

  1. Hey
    I was wondering if redeeming the reward points at BPCL petrol stations will also attract the reward redemption fee.

    If so, doesn’t it defeat the purpose of 6.25% reward rate?

  2. Are you certain of 6000 bonus RPs are awarded every year? I don’t see that information clearly mentioned on the SBI Cards website.

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