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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 offers better rewards, it also carries a much higher annual fee of Rs. 1,499, whereas the other variant had a fee of only Rs. 499. BPCL SBI Card Octane gives you a 7.25% value back on fuel purchases at Bharat Petroleum fuel stations: 6.25% as reward points (25x reward rate), along with a 1% fuel surcharge waiver. In addition to the fuel benefits, you receive 10x reward points for spending on dining and movie tickets. As far as travel benefits are concerned, the card entitles you to 4 complimentary accesses to domestic airport lounges every year (a maximum of 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 a quite high reward rate of 6.5% (and a 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.

BPCL SBI Card Octane
(5/5)

Joining Fee

Rs. 1,499 + GST

Renewal Fee

Rs. 1,499 + GST

Best Suited For

Fuel |

Reward Type

Reward Points

Welcome Benefits

6,000 bonus reward points worth Rs. 1500

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

Domestic Lounge Access

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

International Lounge Access

N/A

Golf

N/A

Insurance Benefits

N/A

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 Charges

2.5% of the withdrawn amount (subject to a minimum charge of Rs. 500)

  • 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

Pros

  • Welcome benefit of 6,000 Reward Points worth Rs 1500
  • Enjoy 10 Reward Points on spend of Rs. 100 at dining, movies and departmental stores.

Cons

  • There is a reward redemption fee of Rs. 99.
  • No insurance benefits are included with this account.

BPCL SBI Credit Card Octane Features

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

Get 6,000 bonus RPs with the BPCL SBI credit card Octane as a welcome benefit. 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 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 dining, departmental stores, and movie ticket purchase expenditures. (Up to 7500 Reward Points per month)
  • You get 1 reward point for every Rs. 100 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:

  1. On Shop & Smile – SBI’s mobile app for purchasing gift vouchers.
  2. Against cash (i.e., against the statement bill of the card) by writing an email or calling SBI’s customer care.
  3. At BPCL fuel stations.
  4. 4 Reward Points are equivalent to Re. 1.
  5. 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 an SBI Card:

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

How to Apply for BPCL SBI Credit Card Octane?

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

  • Click ‘Apply Now’
  • Fill out the form with your details
  • Proceed further accordingly
  • Submit your application

BPCL SBI Card OCTANE Review

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, mainly 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). The BPCL SBI Octane card does not have any fixed eligibility criteria.

Drop your views on the BPCL SBI Card 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.

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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