SBI BPCL Octane Credit Card is one of the most popular fuel credit cards in India. You can save up to 8.15% on your fuel spending at BPCL fuel stations using this credit card.
In this SBI BPCL Octane credit card review I will share benefits, pros & cons, the reward rate of this card, and how you can maximize your value back, so read this blog post completely. I am using this credit card for the last 2 years and I am going to share my real-life experience with the SBI BPCL Octane credit card. SBI BPCL Octane is an international credit card and can be used at over 24 million outlets worldwide
Should you apply for an SBI BPCL Octane credit card in 2023? To find out you have to read this blog post completely.
Overview
| Annual fee | ₹1499 |
| Suitable for | Fuel, Departmental store |
| Reward type | Reward point |
| Reward rate | up to 8.15% |
| Cashback limit | Unlimited |
| Welcome benefit | Get 6000 bonus reward points equivalent to INR 1500 on payment of annual fees. |
| Milestone | Get e Gift Vouchers worth Rs 2,000 from Aditya Birla Fashion Or Yatra Or Bata/Hush Puppies on annual spends of INR 3 Lakhs. |
| Partner bank | SBI |
Reward Points will be credited to the card holders account within 30 days of the annual fee payment.
Also Read: Best Fuel Credit Cards in India 2023
Fees & Charges
| Joining fee | ₹1499 |
| Renewal fee | ₹1499 |
| Addon card | Nil |
| Replacement fee | ₹100+taxes |
| Forex charge | 3.5% of the transaction amount plus tax |
| Interest | 3.5% p.m (42% p.a) |
| Reward redemption fee | 99+taxes on gift card purchases unless no fees |
| Annual fee waiver | Spend Based fee reversal benefit – Next year Fee waiver on annual spending of ₹2L. |
| Fuel Surcharge Waiver | 1% fuel surcharge waiver at all fuel stations in India |
These are the fees & charges of SBI BPCL Octane credit card. The joining fee is Rs.1499 and the renewal fee is also Rs.1499, Annual fee will be waived off on spending of 2 lakh rupees in the previous year.
Also Read: ICICI HPCL Super Saver Credit Card Review 2023
Cashback & Rewards
| Spends Area | Reward Rate | Capping |
|---|---|---|
| BPCL Fuel & Lubricants(at Pumps) | 25 Reward Points/ ₹100 | 2500 Reward Points per billing cycle |
| Bharat Gas spends (Website and app only) | 25 Reward Points/ ₹100 | 500 Reward Points per billing cycle |
| Dining, Departmental Stores, Grocery & Movies | 10 Reward Points/ ₹100 | 7500 Reward Points per billing cycle |
| *Other Retail Purchases | 1 Reward Point/ ₹100 | NA |
BPCL SBI credit card gives you a 6.25% reward on fuel spending at BPCL pumps plus a 1% fuel surcharge waiver for transactions up to ₹4000. The maximum fuel surcharge waiver per statement cycle is ₹100, which is equivalent to an Annual Savings of ₹1200.
Also read: Myntra Kotak Credit Card Review
Reward redemption
| Spends Area | Reward Rate | Rewarding Spend Limit |
|---|---|---|
| BPCL Fuel & Lubricants(at Pumps) | 6.25% | ₹10,000 |
| Bharat Gas spends (Website and app only) | 6.25% | ₹2000 |
| Dining, Departmental Stores, Grocery & Movies | 2.5% | ₹75000 |
| *Other Retail Purchases | 0.25% | NA |
The value of each reward point is 25Paise and 4 points are equivalent to ₹1 if redeemed for fuel. The redemption can be done instantly at select BPCL petrol pumps or you can purchase BPCL vouchers using Shop & Smile Rewards Catalog given in the SBI Cards application.
Remember that these vouchers also can also be redeemed at selected BPCL fuel pumps only. And a proper reliable list of such pumps is not available. The redemption of reward points against fuel may be problematic for some users, If you don’t find a fuel pump that accepts vouchers then you can ask SBI customer care about this.
Pros
- Cyber fraud protection
- Easy card approval
- Good reward rate
Cons
- No annual fee waiver
- Reward redemption fee
Milestone Benefits
Get e Gift Vouchers worth Rs 2,000 from Aditya Birla Fashion Or Yatra Or Bata/Hush Puppies on annual spends of INR 3 Lakhs. You will receive an SMS to choose from e-voucher options within 20 days of eligible spending. The e-voucher will be sent to your registered mobile number/e-mail ID within 5 working days of choosing the option. Aditya Birla Fashion vouchers can be redeemed at these brand stores only – Louis Philippe, Van Heusen, Allen Solly, Peter England, Planet Fashion, and Simon Carter.
I would highly suggest you not hit the ₹3Lakh spending milestone to earn gift vouchers if you are having better credit cards with yourself since the milestone voucher value is not justifying the spending requirements.
Also Read: Uni NX Wave Credit Card Review
KeneFi Maximum
For maximizing rewards on this card fuel or cylinder refills of a maximum of ₹10,000 per statement cycle will give you ₹7500 worth of free fuel every year. But the problem is you need to spend more ₹80,000 to achieve the fee waiver for next year. If you pay can’t waive off annual fee then technically you will earn low reward. I would suggest you either cross the threshold via dining and grocery spending in which reward rates are better than average or use it extensively in online SBI Cards promotional offers which SBI Cards is very aggressive with, especially during festive seasons.
The reward rate on fuel spending can further be jacked up by 0.9% easily by using the Fuel Loyalty Program of Bharat Petroleum which will take the total reward rate to 8.15%.
Lounge Access
Get 4 complimentary visits per calendar year to Domestic VISA lounges in India (Max. 1 visit per quarter). For list of lounges, Click here
Fraud Liability Cover
Get complimentary Fraud Liability cover of 1 Lakh
How To Apply
To apply for BPCL SBI Octane card you can approach an SBI Card agent or apply online through the SBI card website. Click here to apply now.
Eligibility Criteria
- Indian citizen
- Good credit score
- Salaried & Self-employed
FAQs
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Will I get a 10% discount during the festive seasons using SBI BPCL Octane credit card?
Yes, you will get a 10% discount during festive seasons using SBI BPCL octane credit card. This BPCL SBI Octane credit card works like other normal SBI credit card.
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Do I get a fuel surcharge waiver with SBI BPCL Octane Credit Card?
The SBI BPCL Octane Credit Card offers a 1% fuel surcharge waiver on transactions made at all BPCL fuel stations, the transaction amount is up to Rs. 4,000. It’s important to note that there is a maximum surcharge waiver limit of Rs. 100 within a statement cycle.
Conclusion
I have tried my best to share each & every informations about SBI BPCL Octane credit card in this BPCL SBI Octane card review blog post. You can maximize your savings by up to 8.15% on your fuel spending using this SBI Octane credit card. If you use this credit card for fuel spends only, then it may not be useful for you as this card has high annual fee of Rs.1499 and a capping limit on reward points per billing cycle.
You can use this card at dining and departmental stores to earn more rewards which is a good feature of this card. You will also get discount offers during festive seasons. I have been using this SBI BPCL Octane card for the past two years, and it has proven to be quite rewarding, especially considering my monthly fuel consumption, which nearly reaches the card’s maximum rewarding limit of this card. I would highly recommend this card to anyone who spends around ₹10,000 per month on fuel.
Are you using a BPCL SBI Octane credit card? Share your experience in the comment section.
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