BPCL SBI Card OCTANE(2023) Review-A great choice for frequent fuel buyers!

SBI Card and BPCL launch BPCL SBI Card OCTANE. This card promises a whopping 7.25% value back (including a 1% surcharge waiver) on fuel and lubricant spends at BPCL Fuel Stations and a 6.25% value back on Bharatgas online payments on the website and mobile app.

SBI Card is the second-largest credit card issuer in India after HDFC Bank and has the first position in the Co-branded credit card segment. SBI Card and BPCL already have BPCL SBI cards, and this time they have come together to offers ts premium cards to their loyal customers. Here is everything you need to know.

Table of Contents

  1. Fees
  2. Welcome Gift
  3. Reward Benefits
  4. Lounge Access Benefit
  5. Pros & Cons
  6. Other Benefits
BPCL SBI Card OCTANE
BPCL SBI Card OCTANE

BPCL SBI Card OCTANE Fees

  • Joining Fees : Rs.1,499 + GST
  • Annual Fees : Rs.1,499 + GST
  • Add On Card: Nil
  • Finance Charges : 3.35%
  • Foreign currency Markup: 3.5%

Annual/Renewal Fees is waived off if you spend Rs.2,00,000/- or more in the previous year. SBI Card Normally charges the fee & then refund it back after a week. It would be great if SBI Card does not levy charges, so no need to refund it back.

Foreign currency Markup is the same 3.5 % like any other normal credit card, so we can not utilize it for International transactions.

Welcome Gift

  • Rewards Points: 6,000 rewards Points
  • Rewards Value : Rs.1,500
  • Condition: Rewards Points will be credited after payment of Rs. 1499+ GST as Joining Fees.
  • Rewards Points Fulfillment: Within 30 days after payment of Fees

Its evident that SBI card compensate to the cardholder Joining fees from welcome benefits. The Welcome Benefits is equal to Joining Fees Rs. 1499, however you may lose GST on joining fees.

Reward Benefits

.BPCL SBI Card OCTANE comes with different types of rewards: Regular, Accelerated (Value Back Benefits) & Milestone, here’s everything about it below,

Regular rewards

  • All Spends: 1 rewards Points per Rs.100 spends on Retail Purchases
  •  BPCL Fuel, Lubricants & Bharat Gas: 25 Reward Points on every Rs.100 spends
  • Dining, Departmental Stores, Grocery & Movies: 10 Reward Points on every Rs.100 spends
  • 1 Reward Point Value: Rs.0.25 (Can be adjusted as a statement credit)

To redeem points for statement credit, call SBI Card Customer Care. However, note that a redemption fee of Rs.99 per request is applicable. So plan accordingly.

Accelerated (Value Back Benefits)

  •  7.25% Value back:  25X Reward Points on fuel purchases at BPCL petrol pumps.
  • Including 1% Fuel surcharge waiver: On Transaction Up to Rs.4,000/-

BPCL SBI Card OCTANE offer’s you 25X rewards points on fuel purchases at BPCL petrol pumps. That is excellent rewards for Fuel users. The 7.25% value back is great. The Value back benefits accelerate the rewards structure of BPCL SBI Card OCTANE.

The 7.5% value back is limited to Maximum of 2500 Reward Points per billing cycle.

Milestone Privileges

  • Spends Rs.3,00,000/-: Voucher Rs.2000 from Aditya Birla Fashion Or Yatra Or Urban Ladder Or Hush Puppies or Bata.

For me Aditya Birla Fashion would be a good redeem options. More details visit here

Lounge Access Benefit

BPCL SBI Card OCTANE offers complimentary lounge access benefits that are hosted on the VISA platform.

  • International Visit : No Lounge access Benefits
  • Domestic Benefits : 4 complimentary visits per calendar year to Domestic VISA lounges in India ( Max 1 Visit in Quarter).

The Lounge Visit offers is not in good shape. SBI card should offer at least 4 Complimentary International Lounge access benefits. Even on a Debit card, you can get Free 4 Domestic Lounge access benefits. You can check Best Debit card for Free Lounge access benefits.

Pros & Cons of BPCL SBI Card OCTANE

Pros

  • 7.5% value back at BPCL Fuel.
  • Milestone benefits of Rs.2000
  • 4 complimentary domestic benefits

Cons

  • No International Lounge benefits

Other Benefits

Insurance

  • Complimentary Fraud Liability cover of 1 Lakh

Contactless Advantage

  • Wave your card to a secure reader to transact at BPCL and another swipe machine. RBI has also increased contactless and Without PIN limit from Rs.2000 to Rs.5000/-.
  • As per RBI Guidelines, all international transactions are now disabled by default. You need to authorise for international transactions.
  • No need to hand over your card or look for cash /coins for everyday small ticket purchases.

Worldwide Acceptance

  • Just Like any other credit card, Your BPCL SBI Card OCTANE is an international credit card and can be used at over 24 million outlets worldwide, including 3,25,000 outlets in India.
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BPCL SBI Card OCTANE Credit Card Review
BPCL SBI Card OCTANE

BPCL SBI Card OCTANE is truly made for BPCL users. 25X rewards points on even Bharat Gas makes this card awesome. The 7.5% Value back at BPCL spends and 0.67% rewards as Milestone Privileges, So if you spend Rs. 3,00,000 or more previous year, then total rewards would be 8.16%, which is wonderful.

Editor's Rating:
4.7

What is you take on BPCL SBI Card OCTANE credit card, Please share your thought in comment box below.

u003cstrongu003eIs the SBI BPCL octane card good?u003c/strongu003eu003cbru003e

Yes, SBI BPCL Octane Credit Card is a good choice if you frequently purchase fuel from Bharat Petroleum. It offers 5% cashback on fuel purchases and accelerated rewards in other categories. The annual fee of Rs. 1,499 is also reasonable considering the benefits offered.u003cbru003e

u003cstrongu003eWhat is the use of the BPCL SBI Card octane?u003c/strongu003eu003cbru003e

The BPCL SBI Card octane is a credit card that offers accelerated rewards in other categories and 5% cashback on fuel purchases. It also comes with an annual fee of Rs. 1,499. This card is good for individuals who frequently purchase fuel from Bharat Petroleum and want to receive value-back on their purchases.u003cbru003e

u003cstrongu003eWhat is the credit limit for the BPCL SBI card?u003c/strongu003eu003cbru003e

The minimum credit limit for the BPCL SBI card is Rs. 10,000 and the maximum credit limit is Rs. 10 lakh, however, the credit limit will be decided by SBI based on your credit history and repayment capacity.u003cbru003e

u003cstrongu003eWhat is the value back benefits of the BPCL SBI card?u003c/strongu003eu003cbru003e

The BPCL SBI card offers a value back of 7.25% on fuel purchases at BPCL petrol pumps. You can also enjoy up to 25x reward points on fuel purchases at BPCL petrol pumps. This card also comes with an annual fee of Rs. 1,499.u003cbru003e

About Author

Dhiraj Jha
Dhiraj Jha
As a personal finance and credit cards expert, I provide valuable insights and advice on budgeting, saving, investing, and debt management. I am also an expert on credit card rewards programs and help readers make informed decisions about which cards are right for them. My goal is to help people improve their financial literacy and make better financial choices.