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.
SBI BPCL OCTANE Credit Card
- Welcome Benefit:
Get 6000 bonus reward points equivalent to INR 1500 on payment of annual fees.
Reward Points will be credited to the card holders account within 30 days of annual fee payment. - Renewal Benefits:
Get 6000 bonus reward points equivalent to INR 1500 on payment of annual fees.
Reward Points will be credited to the card holders account within 30 days of annual fee payment. - Usps:
Enjoy 7.25% Value back ~ 25X Reward Points on fuel purchases at BPCL petrol pumps. Maximum 2500 Reward Points per billing cycle
6.25% + 1% Fuel surcharge waiver on every BPCL transaction upto ₹ 4000 (exclusive of GST and other charges)
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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 |
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.
Sample Savings Calculation: BPCL Fuel Spend
Let’s assume your monthly fuel expense at a BPCL outlet is Rs. 10,000.
| Benefit | Calculation | Monthly Value (Rs.) | Annual Value (Rs.) |
|---|---|---|---|
| Reward Points (6.25% VB) | (Rs. 10,000 / 100) x 25 RP = 2,500 RP. 2,500 RP / 4 = Rs. 625 | Rs. 625 | Rs. 7,500 |
| Fuel Surcharge Waiver (1%)* | 1% of Rs. 10,000 = Rs. 100. (Capped at Rs. 100) | Rs. 100 | Rs. 1,200 |
| Total Value Back | Rs. 625 + Rs. 100 = Rs. 725 | Rs. 725 | Rs. 8,700 |
The total value back is 7.25% on the maximum capped spend of Rs. 10,000/month in the fuel category.
Comparison vs. Regular Credit Card:
- A standard rewards card usually offers a 0.25% return. On Rs. 10,000 fuel spend, this is just Rs. 25.
- A regular card would also charge a 1% fuel surcharge (plus GST). This would cost you approximately Rs. 118 (Rs. 100 surcharge + Rs. 18 GST).
Net Savings with SBI BPCL Octane: Rs. 725 (Value Back) – Rs. 25 (Standard Rewards Lost) + Rs. 100 (Surcharge Waived) = Rs. 800 per month (approximately, excluding GST on the surcharge).
Major Fuel Station Networks, Caps, and Exclusions for Fuel Benefits
The accelerated rewards and surcharge waiver on the SBI BPCL Octane Credit Card are highly specific.
| Feature | Applicability & Details | Cap/Exclusion |
|---|---|---|
| Accelerated Reward Points (25 RP per Rs. 100 / 6.25% Value Back) | Exclusively at authorised BPCL (Bharat Petroleum) outlets across India for fuel and lubricant purchases. | Maximum 2,500 Reward Points per billing cycle (on max spend of Rs. 10,000/month). |
| Fuel Surcharge Waiver (1% Waiver) | Applicable only on BPCL transactions. Applies to transactions between Re. 1 and Rs. 4,000 (exclusive of GST). | Maximum waiver of Rs. 100 per billing cycle. Transactions above Rs. 4,000 in a single swipe will not receive the waiver. |
| Non-BPCL Fuel Spends | Fuel spends at other major networks (e.g., IndianOil, HPCL, Reliance) will not earn accelerated 25X reward points. | No reward points are earned on non-BPCL fuel transactions. |
The core benefit of the card is its loyalty to the BPCL network. You must fill up at a BPCL pump to receive the 7.25% combined value back. Using the card at any other fuel station will not earn rewards and you will be charged the standard 1% to 2.5% fuel surcharge plus GST.
Additional features
The BPCL SBI Card Octane provides 4 complimentary domestic airport lounge access in a calendar year (1 per quarter).
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.
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.
Eligibility & Documents
To address searchers looking for the specific requirements, here are the general criteria set by SBI Card for credit card applicants:
| Eligibility Criteria | Details |
|---|---|
| Age | Primary Cardholder: 21 to 65 years. Add-on Cardholder: Above 18 years. |
| Residency | Indian Resident |
| Income | A stable source of monthly income (Salaried or Self-Employed). The minimum income requirement is typically assessed by SBI Card’s internal policy and good credit history. |
| Credit Score | A good credit score is generally required for approval. |
Documents Required (KYC):
- Proof of Identity: PAN Card (Mandatory), Aadhaar Card, Passport, Voter’s ID.
- Proof of Address: Aadhaar Card, Passport, Utility Bill (latest 3 months), Ration Card.
- Proof of Income:
- Salaried: Latest 2–3 months salary slips, Bank statement, Form 16.
- Self-Employed: Latest Income Tax Returns (ITR), Audited Financials, Bank statements showing income.
Tips to Maximise Rewards:
Hit the Fuel Cap: Try to spend exactly Rs. 10,000 per month on BPCL fuel to extract the maximum 2,500 Reward Points. Avoid large transactions above Rs. 4,000 in a single swipe to ensure the 1% surcharge waiver applies.
Aim for the Renewal Waiver: Ensure your total annual spend crosses Rs. 2 Lakhs to get the renewal fee of Rs. 1,499 waived.
Unlock the Milestone: Plan your spending to hit the Rs. 3 Lakhs annual mark to receive the additional Rs. 2,000 e-Gift Voucher.
Utilize Lounge Access: Take advantage of the 4 complimentary domestic lounge visits, especially the “1 per quarter” cap, to ensure you don’t miss out.
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.
FAQ
Q1. Is the annual renewal fee of the BPCL SBI Octane Credit Card waived?
A. Yes, the renewal fee of Rs. 1,499 + Taxes is waived if your total annual spending in the preceding year is Rs. 2,00,000 or more.
Q2. Where is the fuel surcharge waiver applicable, and what are the limits?
A. The 1% fuel surcharge waiver is applicable only on BPCL transactions between Re. 1 and Rs. 4,000 (exclusive of GST). The maximum waiver is capped at Rs. 100 per billing cycle.
Q3. What is the value of 1 Reward Point on the BPCL SBI Octane Credit Card?
A. The value of each reward point is Rs. 0.25. The best redemption value is achieved when redeeming instantly for fuel at an authorized BPCL outlet.
Q4. Can I get this card if I am self-employed?
A. Yes, the card is available for both salaried and self-employed individuals who meet the age and income eligibility criteria set by SBI Card.
Q5. How can I apply for the SBI BPCL Octane Credit Card?
A. You can apply online through the official SBI Card website or via their mobile application. You will need to fill out the application form and provide the necessary KYC and income documents.