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SBI BPCL Octane Credit Card
Annual Fees
1499
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Percentage Savings range
6.25%
Use this card for fuel spends upto 10,000 per month.
Reward Type
Fuel
Welcome Benefits
*
Minimum Income
4,00,000 ITR
Lounge Access
1 Per Quarter
Rewards
Core Rewards :
- 1% 1 Reward Point per Rs. 100 on online and offline transactions
- 10% 10X Reward Points on groceries, departmental stores, movies, and dining
- 2.5% 25X Reward Points on BPCL Fuel, Lubricants & Bharat Gas (Website and app only) spends
- Capping: 2500 RPs/month for fuel, 750 RPs/month for gas cylinder and 7500 RPs/month on dining, departmental stores, grocery, and movies
Milestone Rewards :
- Monthly : N/A
- Quaterly : N/A
- Annual : Spend 3Lakhs & get Voucher Worth Rs. 2000
No rewards on spends : Wallet, EMI
Rewards Redemption
How to Redeem :
- Redeem reward point for fuel, gift vouchers and merchandise
- 1RP = Rs. 0.25
Redemption options : Fuel, Gift Voucher, Merchandise
Redemption fee : NIL
Transfer partners : N/A
Complementary Benefits
Lounge access :
- Domestic Lounge : 1 Per Quarter
- International Lounge : N/A
- Railway Lounge : N/A
Insurance Benefits :
- Lost card liability : Upto Credit Limit
- Personal accidental insurance : N/A
- Air accidental insurance : N/A
Other Benefits :
- Lounge Membership : N/A
- Memberships Available With Cards : N/A
- Spa Benefits : N/A
Golf Benefits :
- Lessons : N/A
- Games : N/A
Fees
Joining fees : 1499
Annual fees : 1499
Welcome Benefits : N/A
Quaterly Benefits : N/A
Annual Benefits : N/A
Forex markup charges : 3.5%
Fee reversal criteria : Spend 2,00,000 in a year
Eligibility
Minimum age : 21
Minimum ITR : 4,00,000 ITR
Minimum Salary : 25000
SBI BPCL Octane Credit Card Welcome Benefits
- Welcome Benefit: Enjoy 6,000 Reward Points as a welcome gift (worth Rs. 1500).
- Dining and Entertainment Rewards: Earn 10 Reward Points for every Rs. 100 spent on dining, movies, and departmental stores.
- Fuel and BPCL Rewards: Benefit from a robust 7.25% rewards rate on fuel and BPCL expenses.
- General Spending Perks: Receive 2.5% rewards on dining, departmental store, and grocery spends, making it suitable for everyday use.
SBI BPCL Octane Credit Card Reward Points/Cashback
- Movie & Dining: Earn 10X reward points on dining and movie ticket expenses.
- Rewards Rate: Get up to 6.25% reward rate at BPCL fuel stations and 2.5% on groceries, departmental stores, and movie tickets.
- Reward Redemption: Redeem points for gift vouchers, BPCL transactions, or statement balance (4 reward points = Re. 1).
- Travel: Enjoy complimentary domestic airport lounge visits.
- Zero Liability Protection: Protects against unauthorized transactions when the card is reported lost promptly.
SBI BPCL Octane Credit Card Reward Point Redemption
- Options: Redeem points for fuel, gift vouchers, or merchandise.
- Conversion Rate: 1 RP = Rs. 0.25 (4 RP = Re. 1).
- Redemption Fee: None.
- Redemption Methods: Use the SBI website or mobile app for gift vouchers, offset your statement bill via email or customer care, or redeem instantly at BPCL fuel stations.
- Points Expiry: Points expire after 2 years (24 months) from the date of accumulation.
Pros of SBI BPCL Octane Credit Card
- Welcome Benefit: Enjoy 6,000 Reward Points as a welcome gift (worth Rs. 1500).
- Dining and Entertainment Rewards: Earn 10 Reward Points for every Rs. 100 spent on dining, movies, and departmental stores.
- Fuel and BPCL Rewards: Benefit from a robust 7.25% rewards rate on fuel and BPCL expenses.
- General Spending Perks: Receive 2.5% rewards on dining, departmental store, and grocery spends, making it suitable for everyday use.
Cons of SBI BPCL Octane Credit Card
- Annual Fee: The annual fee could be more competitive, ideally lower.
- Limited Returns on Non-Fuel Spends: The card offers a modest 0.25% return on general spending.
- Reward Redemption Fee: There is a Rs. 99 redemption fee to consider.
- Lack of Insurance Benefits: The card does not provide insurance benefits.
SBI BPCL Octane Credit Card Benefits
- Fuel Rewards: 25 Reward Points per Rs. 100 spent on BPCL fuel (max 2,500 points/month).
- Grocery and Entertainment: 10 Reward Points per Rs. 100 spent on groceries, department stores, and cinema (max 7,500 points/month).
- Renewal Fee Waiver: No renewal fee if you spend Rs. 2,00,000 or more in the previous year.
- Fuel Surcharge Waiver: 1% surcharge waived on fuel transactions up to Rs. 4,000.
- Fraud Liability Coverage: Up to Rs. 1 lakh fraud liability coverage.
- Domestic Lounge Access: 4 complimentary domestic lounge visits per year.
SBI BPCL Octane Credit Card Charges and Fee
- Joining Fee: Rs. 1,499
- Renewal Fee: Rs. 1,499
- Finance Charges: 42% per annum
- Late Payment Charges: Vary based on outstanding amount.
- Spend Based Waiver: Renewal fee waived on annual spending of Rs. 2 lakh.
- Rewards Redemption Fee: Rs. 99 per redemption request.
- Foreign Currency Markup: 3.5% of the transaction amount.
- Interest Rate: 3.5% per month (42% per annum).
- Fuel Surcharge: 1% surcharge waived on transactions up to Rs. 4,000.
- Cash Advance Charges: 2.5% of the withdrawn amount (min. Rs. 500).
- Add-on Card Fee: Nil
Frequently Asked Questions
- Q: How can I apply for the SBI BPCL Octane Credit Card?
A: You can apply for the SBI BPCL Octane Credit Card online through the SBI Card website or by visiting an SBI branch. - Q: What is the eligibility criteria for this card?
A: Eligibility criteria typically include a minimum age, income requirement, and credit score. Check with SBI for the specific criteria. - Q: Can I get my annual fee waived?
A: Yes, the annual fee can be waived on annual spends of Rs. 2,00,000 or more in the previous year. - Q: How do I redeem reward points?
A: You can redeem reward points for fuel, gift vouchers, or merchandise. There is no fee for redeeming your points.
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