How about getting a 7.25% value back on every fuel transaction? It includes 6.25% as reward points and 1% as a fuel surcharge waiver. The BPCL SBI Card Octane provides a 7.25% value back on fuel purchases and a lot more. In this article, we will understand the features and benefits of this card and whether you should take it.
Overview Table
| Feature | Details |
| Card type | Rewards card |
| Reward range | Up to 7.25% value back on fuel transactions |
| Joining fee | Rs. 1,499 + Taxes |
| Welcome bonus | 6,000 reward points |
| Renewal fee | Rs. 1,499 + Taxes |
| Renewal benefit | NA |
| Best for | Fuel purchases at authorised BPCL outlets |
| USP | Up to 7.25% value back on BPCL fuel purchases, complimentary domestic airport lounge access, milestone spend benefits, multiple redemption options for reward points |
Image: High-quality image
Fees & Benefits
The joining fees for the BPCL SBI Card Octane are Rs. 1,499 + Taxes
The cardholder gets a welcome benefit of 6,000 reward points equivalent to Rs. 1,500. The welcome benefit will be provided within 30 days of fee payment.
The annual renewal fees for the card are Rs. 1,499 + Taxes
There is no renewal benefit on the card. The renewal fee is waived on spending Rs. 2 lakhs in the previous year.
Rewards Structure
The SBI BPCL Octane Credit Card has the following rewards structure.
| Transaction details | Reward rate |
| Fuel and lubricant purchases at BPCL petrol pumps | 25 reward points for every Rs. 100 spent. Maximum reward points in a billing cycle: 2,500 |
| Gas cylinder booking on the Bharat Gas website/App | 25 reward points for every Rs. 100 spent. Maximum reward points in a billing cycle: 500 |
| Dining, departmental stores, grocery, and movies | 10 reward points for every Rs. 100 spent. Maximum reward points in a billing cycle: 7,500 |
| All other retail transactions, except for exclusions | 1 reward point for every Rs. 100 spent. |
Reward points can be earned for a maximum spend of Rs. 10,000 per month. The cardholder will get the 1% fuel surcharge waiver for every BPCL transaction of up to Rs. 4,000, exclusive of GST and other charges. The maximum fuel surcharge waiver is capped at Rs. 100 per billing cycle. Thus, it is a decent credit card with a fuel surcharge waiver.
Mobile wallet loading, rent payments, merchant EMIs, and non-BPCL fuel spends will not earn any reward points. The following transactions are also excluded: Accelerated reward points under Departmental Stores (MCC 5311), Grocery Stores (MCC 5411) for merchants – Metro Cash & Carry and Walmart, Dining (MCC 5812, MCC 5813, MCC 5814) and Movies/Entertainment (MCC 7832, MCC 7922).
Milestone benefit
The cardholder gets a Rs. 2,000 e-Gift Voucher on spending Rs. 3 lakhs in a card membership year. The cardholder can choose the voucher from Aditya Birla Fashion, Yatra, Bata, or Hush Puppies. On achieving the milestone, the cardholder will get an SMS to select the e-voucher brand within 20 days. Once the e-voucher brand is chosen, the cardholder will get the selected brand e-voucher within 5 working days.
Rewards Redemption
The value of each reward point is Rs. 0.25. The reward points can be redeemed against the following options.
- Instant redemption at authorised BPCL petrol pumps at POS machines for fuel purchases. Check the SBI Card website for the list of authorised BPCL petrol pumps for POS redemption.
- Redemption at the SBI Card Shop & Smile Rewards Catalogue. The cardholder can access the program through the SBI Card website or App.
- BPCL e-vouchers: The Cardholder will have to fill in a redemption request form and mail it to SBICPSL or call the nearest SBI Card Customer Service Centre or log onto sbicard.com to redeem points for BPCL e-vouchers. SBICPSL will send the redemption e-voucher through SMS on the primary cardholder’s registered mobile number. It will be sent in approximately 6 to 8 weeks after receiving the redemption request from the cardholder.
Additional features
The BPCL SBI Card Octane provides 4 complimentary domestic airport lounge access in a calendar year (1 per quarter).
Image Suggestion: Lounge photo
How to Apply
You can apply for the BPCL SBI Card Octane, one of the best fuel rewards cards, through the SBI Card website/App. The SBI Card doesn’t mention any specific eligibility criteria. Usually, the eligibility criteria include being an Indian resident, aged between 21 and 65 years, having a stable monthly income source, etc. For the specific eligibility criteria for this card, check with SBI Card before applying.
Image Suggestion: Application form screenshot or infographic
Optimal Use
The best use of the BPCL SBI Card Octane is for fuel and lubricant purchases at authorised BPCL petrol pumps, and booking cooking cylinders through the Bharat Gas website/App. Check the monthly limits on the maximum reward points that can be earned.
Expert Verdict/Conclusion
If you have higher monthly fuel spends and are a BPCL loyalist, consider taking the BPCL SBI Card Octane, one of the best fuel cards in India. It provides accelerated reward points on dining, departmental stores, grocery, and movies, along with BPCL fuel purchases. It provides 4 complimentary domestic airport lounge access annually and an e-Gift Voucher on achieving milestone spends. Overall, it provides good rewards on BPCL fuel purchases, and decent rewards on other categories.