BPCL SBI Octane Credit Card provides one of the highest reward rates on fuel purchases – 7.25% on BPCL fuel purchases. This card is a co-brand card , and was launched through a partnership between Bharat Petroleum Corporation Limited (BPCL) and the State Bank of India (SBI). This card is a premium fuel card – it has one of the highest annual fee amongst all fuel cards in the market , and provides the best reward rate on fuel purchases (only at BPCL petrol pumps).
It also provides other benefits like airport lounge access within India, and a special benefit rate of 2.50% on purchases at departmental stores, groceries, movies & dining.
Brief Summary
Our View :
Best for those who spend upto ₹10,000 on monthly fuel purchases, and are comfortable with being restricted only to BPCL (Bharat Petroleum) fuel pumps – they can get a very high 7.25% benefit rate on their fuel purchases. So if you are eligible for this premium card, then this is probably the best fuel card in the marketplace.
You get milestone related benefits – vouchers worth ₹ 2,000 on achieving annual card spends of ₹3 lakhs. You also get complimentary lounge access in India – upto 4 times a year (maximum 1 time per calendar quarter).
1st year annual fee is compensated by the welcome offer of ₹1500, but the annual spend target (of ₹2 lakhs) to get annual fee waived from the 2nd year onwards is high .
BPCL SBI Octane Credit Card
Reward Rate
0.25% – 7.25%
Other Important Benefits
2.50% on shopping & entertainment spends
Minimum Income
Not specified
Annual Fee
₹1499
Annual Fee Offers
Welcome Offer worth ₹1500
Renewal fee waiver at ₹2,00,000 annual card spend
BPCL SBI OCTANE Credit Card : Summary Table
| 7.25% earning on fuel purchases – 6.25% special benefit on BPCL fuel purchases – 1% fuel surcharge waiver | 6.25% special benefit on BPCL fuel purchases : You earn 25 reward points worth ₹6.25 , on every ₹100 you spend at BPCL pumps – only on purchases up to ₹10,000 per month. Since : – the maximum reward points you can earn at this special earning rate, is restricted to 2500 reward points per monthly card statement cycle – 1 reward point = ₹0.25 or 25 paise. 1% fuel surcharge waiver only at BPCL fuel pumps – – On fuel transactions upto ₹4,000 only , AND on upto total fuel purchases of ₹10,000 per month – Both the above conditions need to be met to avail fuel surcharge waiver |
| 2.50% special benefit on groceries, departmental stores, movies & dining spends | You earn 10 reward points worth ₹2.50 , on every ₹100 you spend on groceries, departmental stores, movies & dining – on combined total spending of up to ₹75,000 per month across these categories. Since : – the maximum reward points you can earn at this special earning rate, is restricted to 7500 reward points per monthly card statement cycle – 1 reward point = ₹0.25 or 25 paise. |
| 0.25% basic benefit on all other spends | You earn 1 reward point worth ₹0.25 (25 paise) , on every ₹100 you spend on all other purchases. Exceptions – no reward points are given on mobile wallet loads and non-BPCL fuel spends. |
| Milestone Privileges : Upto 0.66% additional benefit on achieving annual spend target of ₹3 lakhs | You receive e-Gift Vouchers worth ₹ 2,000 (from Aditya Birla Fashion, Yatra, or Bata/Hush Puppies) – upon reaching annual spend target of ₹ 3 lakhs. |
| Complimentary airport lounge access in India | You enjoy free visits to airport lounges in India – maximum once per calendar quarter (upto 4 times per year). For details on the list of applicable lounges, please click here. |
| ₹1499 annual fee | Annual fee offers – – Welcome offer : You get 6,000 reward points worth ₹1500 , on payment of the first year joining fee. – Renewal fee offer : Annual fee is not charged from the second year onwards , if you spend ₹2,00,000 or more in the previous year. |
Pros and Cons
Benefits of using SBI BPCL Credit Card
- Very attractive benefit rate of 7.25%, on monthly fuel spends at BPCL outlets – 6.25% on fuel purchases PLUS 1% fuel surcharge waiver
- 1st year annual fee is fully compensated by joining benefits of ₹1500. Annual fee from 2nd year onwards is waived off at ₹2 lakh annual spend.
Hence the card is virtually free if you spend ₹2 lakh or more per year. Since the card gives a good benefit rate of 2.50% on groceries, departmental Stores, movies & dining – one can use it for these categories as well (in addition to fuel) and achieve the ₹2 lakh spend target - You can earn upto 0.6% additional benefits through ‘Milestone Benefits’ program
- You get upto 4 complimentary visits per year – to domestic VISA lounges in India (maximum 1 visit per calendar quarter).
- You also get a complimentary Fraud Liability cover of ₹1 Lakh.
Limitations and drawbacks to consider
- Limited to BPCL pumps : Accelerated fuel rewards are only available at BPCL Outlets, so one needs to plan more and go to only BPCL petrol pumps to get fuel filled.
- High annual free waiver of ₹2,00,000. Though this is compensated by higher benefits on fuel purchases as well as a good benefit rate on some shopping and entertainment spends
Comparing with Competitor Fuel Credit Cards
| Features |
BPCL SBI Credit Card
Our Rating
APPLY NOW
|
HPCL BOB ENERGIE Credit Card
Our Rating
APPLY NOW
|
Standard Chartered Super Value Titanium
Our Rating
APPLY NOW
|
HDFC Indian Oil Credit Card
Our Rating
APPLY NOW
|
|---|---|---|---|---|
| Rewards Rate | 0.5% – 7.25% |
0.3% – 4% |
5% |
0.66% – 4.8% |
| Other benefits | Fuel Surcharge Waiver |
Fuel Surcharge Waiver |
Fuel Surcharge Waiver |
Fuel Surcharge Waiver |
| Annual Fee | ₹1499 + GST |
₹499 |
₹750 |
₹500 |
| Annual Fee Offers | Zero renewal fees – if minimum spending in the previous year is ₹50,000 |
Zero renewal fees – if minimum spending in the previous year is ₹50,000 |
Annual Fee Reversal on meeting ₹90,000 spends |
Zero renewal fees – if minimum spending in previous year is ₹50,000 |
| Minimum Income | Not Specified |
Over ₹3,60.000 for salaried individuals and ₹ 4,80,000 for self-employed individuals. |
₹55,000 |
Over ₹10,000 for salaried individuals & ₹6,00,000 for self-employed individual |
Full Review of the BPCL SBI Octane Credit Card
Features & Benefits of the BPCL SBI Octane Credit Card
7.25% special benefit on fuel transactions at BPCL petrol pumps
✔︎ 6.25% special benefit on fuel purchases at BPCL petrol pumps – only on purchases upto ₹10,000 per month
Earning special rewards : You earn 25 reward points, on every ₹100 you spend on fuel purchases at BPCL petrol pumps = ₹6.25 (6 rupees & 25 paise) on every ₹100 you spend. Since 1 reward point = ₹0.25 or 25 paise of fuel at BPCL fuel pumps.
Redeeming reward points : You can convert your reward points into BPCL vouchers – online, on your mobile app or by calling SBI Cards. Please click here → outlet list , to view list of BPCL outlets where these vouchers are accepted. These vouchers are valid for 6 months. 4 Reward Points = ₹1, or 1 reward points = ₹0.25 or 25 paise.
You can also redeem your reward points directly & instantly at 1200 select BPCL outlets – please click here → outlet list, to view the list of outlets where this Instant Redemption Program is applicable. 4 Reward Points = ₹1, or 1 reward points = ₹0.25 or 25 paise.
For example, if you spend ₹10000 on BPCL fuel, you shall earn 2500 reward points . These 2500 reward points are worth ₹625 and can be used to buy BPCL vouchers , OR BPCL fuel directly & instantly at select BPCL outlets
Cardholders can also redeem their reward points through SBI Card’s exclusive Reward Point Program – Shop n Smile for exclusive products in lifestyle, leisure, and travel categories. However one may get lower than ₹0.25 value for each reward point on Shop n Smile.
Limits on earning special rewards : The special benefit rate on BPCL fuel purchases is capped at fuel purchases upto ₹10,000 per month – since the maximum points you can earn at this special rate is capped at 2500 reward points per your monthly card statement cycle. After the first ₹10,000 spent on BPCL fuel purchases in the month, you earn basic benefit rate of 1 reward point for every ₹100 you spend on additional BPCL fuel purchases during the month.
Other important information : Reward points are valid for 2 years. You need a minimum of 1000 reward points , to convert your reward points to BPCL vouchers.
Fuel includes petrol, diesel, lubricants & Bharat Gas. On Bharat Gas , you get 6.25% special benefit rate only on purchases upto ₹2,000 per month, since the maximum number of special reward points are capped at 500 reward points per monthly card statement cycle.
✔︎ 1% fuel surcharge waiver
Applicable fuel stations and brands : fuel surcharge waiver applies only at BPCL fuel stations.
Limits on waiver benefits : There are 2 restrictions
– Waiver is given only on individual fuel transactions upto ₹4000 AND
– Waiver is given only on fuel purchases upto ₹10,000 per month (since the waiver amount is capped at ₹100 per monthly card statement cycle)
You need to meet BOTH the above conditions to qualify for surcharge waiver
2.50% special benefit on the following purchases – groceries, departmental stores, movies & dining
Earning reward points : You earn 10 reward points, on every ₹100 you spend in this category = ₹2.50 (2 rupees & 50 paise) on every ₹100 you spend. Since 1 reward point = ₹0.25 or 25 paise of fuel at BPCL fuel pumps.
Limits on earning rewards : The special benefit (described above) in this category is capped at ₹75,000 total combined spend per month – since the maximum points you can earn at this special earning rate is capped at 7500 reward points per monthly card statement cycle. After the first ₹75,000 spent in this category during the month, you earn basic benefit rate of 1 reward point (worth 25 paise) on every ₹100 you spend on additional purchases during the month.
For example, if you spend ₹50,000 across this category, you shall earn 5,000 reward points – these 5,000 reward points are worth ₹1250 and can be used to buy BPCL vouchers OR redeem directly for BPCL fuel at select BPCL outlets
Redeeming reward points & other important information : same as explained in the section above on BPCL fuel transactions.
0.25% basic benefit on all other spends
Earning reward points : You earn 1 reward point, on every ₹100 you spend on all other purchases = ₹0.25 (25 paise) on every ₹100 you spend. Since 1 reward point = ₹0.25 or 25 paise of fuel at BPCL fuel pumps.
Important exceptions – No reward points are given on mobile wallet loads and non-BPCL fuel spends.
Redeeming reward points & other important information : same as explained in the section above on BPCL fuel transactions.
Other Cardholder Benefits
| 24/7 customer support | Please click here for all the options to contact the bank, for various issues and escalations, including the below : – Lost and Stolen cards : you can block on your mobile app or internet banking OR through SMS option OR by calling customer care – Complaints and Grievances : including steps on how to escalate to higher levels in case your issue is not resolved – Raise and manage disputes – Contact information : Phone numbers , email option |
| Important security features | Chip and PIN technology – security for offline transactions : In the past, credit cards typically used a magnetic stripe located on the back of the card to store and transact data.However, the latest generation of credit cards includes a CHIP and PIN feature, which provides enhanced security. Only you know your PIN, so even your card is lost it is unlikely to be misused since BOTH the physical card and the PIN is required to spend on the card Two-factor authentication – security for online transactions : When making an online transaction, you approve your online transaction through using a One-time Password (OTP) which you get on your mobile phone .Since only you know the OTP, the card is unlikely to be misused unless someone has access to BOTH your card details AND your mobile phone.This ensures a safe online purchase experience. SMS alerts and notifications – for both offline and online transactions : For your peace of mind, you get free SMS alerts and notifications for all your credit card transactions. Hence you will know about all transactions on your card. In the unlikely scenario of your card being misused, you would still get these alerts and notifications – which will help you to immediately block your credit card. |
Card Fees and Charges
Annual fee
| Annual fee | Annual fee offers | |
|---|---|---|
| 1st year joining fee | ₹1499 | Welcome offer : You get 6000 reward points worth ₹1500 , within 30 days of annual fee payment. |
| Renewal fee from 2nd year onwards | ₹1499 | Renewal fee offer : Annual fee is not charged from the 2nd year onwards, if you spend ₹2 lakh or more in the previous year. Hence the card is virtually free if you spend ₹2,00,000 or more per year. |
Late payment fee
| Pending card statement amount | Late fee |
|---|---|
| Less than ₹500 | Nil |
| ₹501 to ₹1,000 | ₹400 |
| ₹1,001 to ₹10,000 | ₹750 |
| ₹10,001 to ₹25,000 | ₹950 |
| ₹25000 to ₹50000 | ₹1100 |
| Over ₹50000 | ₹1300 |
Foreign currency transaction fee
3.50% of the transaction value.
Finance charges
3.50% per month (42% p.a.)
Important note
– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – BPCL SBI Octane Credit CardFees & Charges
Eligibility Criteria
Although your credit card eligibility is based on multiple parameters which can be assessed once you apply for a BPCL SBI Octane Card, there are certain basic criteria that all applicants must fulfil.
| Minimum age | Salaried individuals – 21 years or above Retired pensioners – 40 years or above Self-employed individuals – 25 years or above |
| Maximum age | 70 years |
| Occupation | Salaried or self-employed |
| Other criteria | Regular source of income, good credit score preferably above 750, etc. |
Applying & Tracking Application Status
Step-by-step guide
| Online application process | The easiest way to apply is to click here – APPLY NOW , you shall be taken to the card application page on the SBI Card website. You can also visit official website of SBI Card and fill out the application form. Steps : – Fill out the Online Application form – personal details, mobile phone number, income, Aadhar / PAN number, along with some of the documents listed below. – Click ‘Submit’ and you will receive an instant decision on the application basis the information provided. – If your application is approved, you will receive a call from SBI Card team for verification. – Post necessary verification, the card is issued to you. – You will receive your physical credit card in approximately 15 working days post submission of all the requisite documents. – Virtual card : In addition to this, SBI Card team will send an SMS on your registered mobile number with a link to generate your e-card. With this e-card you can view your credit card details digitally, even before your physical card reaches you, and start shopping online instantly. |
| Offline (face to face) Application process | You can visit any of the nearest branches of the bank and talk to an executive regarding the process. |
Documents required
| List of documents | – PAN card copy – Copy of Aadhaar card or any valid government address proof – Income documents – Salary slip, income tax return etc., may be required depending upon the credit card eligibility & policy. In addition to these, you may be asked to provide additional documents. Please click here for full details https://www.sbicard.com/en/eapply.page |
Approval timeline & tracking your application status
| Tracking application status | You can track the status of your application in ‘Track Application’ section. You can see this section on : – the home page (at the top section of the page titled – ‘Track your application’) OR – on the e-apply page (at the bottom of the page titled – ‘Track Credit Card Application’). Steps : – Enter the application number/ reference number you would have received when applying for the card . Click on the Track button to check the status of your SBI Card application – If you do not remember your application number/ reference number, then you have another option of retrieving your application number – by entering your first name and mobile number, and then pressing the button ‘Retrieve’. |
Choosing the right card for your needs
As you have seen, the best fuel card depends on your personal circumstances. Some of the main points you should look at –
| Eligibility | While some banks do not disclose all of their approval criteria, we have given you a rough guide on how the process works. Your income, stability of income, credit scores (repayment history, length of repayment history, credit utilization), and past relationship with the bank are some critical factors that play a role |
| Your monthly fuel spend | Credit cards normally have certain promotion categories on which they give higher benefits, compared to their basic rewards rate. These higher benefits normally come with a monthly spend limit upto which these higher benefits are given SBI BPCL Octane Card has 2 promotion categories – a. 7.25% benefit on BPCL fuel purchases – the monthly spend limit is ₹10,000 b. 2.50% benefit on department stores, groceries, dining & movie tickets – the monthly spend limit is ₹75,000 Not only is the fuel purchase spend limit one of the best in the market, the fuel rewards rate is also best-in-class – so this is the maximum you can get on both counts and hence its ideally suited to the premium end fuel customers who have a comparatively higher monthly fuel consumption. |
| Are you comfortable having more than 1 card ? | Fuel cards normally do not offer very high benefits on non-fuel spending. But SBI BPCL Octane credit card gives a good benefit rate of 2.50% on purchases at department stores, groceries, dining & movie tickets. Hence it is a good option for those who want to hold fewer cards for most of their spending needs, especially for those who like shopping face to face, and not online. Some online shopping cards offer 5% benefit rate, hence those who are comfortable shopping online may consider having those cards as well, in addition to the SBI BPCL Octane Card |
| Annual fee | Credit cards often charge an annual fee for holding the credit card. But many also offer attractive incentives like welcome and renewal offers, which often make these cards virtually free SBI BPCL Octane Card has an attractive welcome offer wherein 1st year annual fee is compensated by welcome benefits worth ₹1,500. Though the annual card spend target (₹2,00,000) to get waiver of renewal fees is comparatively high, the best in class benefit rate on fuel, as well as attractive benefits on shopping & entertainment can help you achieve this spend target. |
Once you look at the above factors in detail, you should be able to decide if this is the right card for you. We have taken a deeper look at all of these factors on this page to help you decide.
Conclusion
As you can see, your personal circumstances would dictate the best card for you. BPCL SBI Octane Card is a great fuel card option for those who spend about ₹10000 per month on fuel, on these levels of fuel spends you can get a very high 7.25% benefit rate on their fuel purchases. So if you are eligible for this premium card, then this is probably the best fuel card in the marketplace.
Apply Nowon SBI Card website
Frequently Asked Questions
What are the benefits of using the BPCL SBI Octane Card?
BPCL SBI Octane Card offers a range of benefits – 7.25% benefit on fuel purchases at BPCL stations, and a 2.50% benefit rate on purchases at departmental stores, grocery, movies and dining. It also offers airport lounge access within India – upto 4 times per year (maximum 1 time per calendar quarter).
How can I redeem the reward points earned on my BPCL SBI Octane Card?
You can redeem the reward points earned on your BPCL SBI Octane Credit Card either for fuel (through instant redemption) at select BPCL fuel stations, OR you can buy BPCL vouchers, which you can use at BPCL pumps.
Is there an annual fee associated with the BPCL SBI Octane Card?
Yes, there is an annual fee of ₹1499 associated with the BPCL SBI Octane Card. However, the welcome offer of ₹1499 compensates for the first year fee. Renewal fee is also waived on spending ₹2 lakhs or more in the previous year.
Can I use my BPCL SBI Octane Card internationally?
Yes, you can use your BPCL SBI Octane Credit Card for international transactions. The card is accepted worldwide by all merchants that accept Visa, making it convenient for your international travel and purchases. However, please note that foreign currency transaction charges of 3.50% will apply.