BPCL SBI Card Octane

In December 2020, SBI Card introduced the BPCL SBI Card Octane, an enhanced version of the BPCL SBI Credit Card. While the Octane variant offers improved rewards and perks, it comes with a significantly higher annual fee of Rs. 1,499 in contrast to the Rs. 499 fee of the other variant. With the BPCL SBI Card Octane, you can enjoy a 7.25% value back on fuel purchases at Bharat Petroleum fuel stations, comprising 6.25% as reward points at a rate of 25x, and a 1% fuel surcharge waiver.

Apart from the fuel benefits, the card provides 10x reward points for expenditures on dining and movie tickets. In terms of travel advantages, cardholders are entitled to four complimentary accesses to domestic airport lounges annually, with a maximum of one access per quarter.

Key Highlights of BPCL SBI Card Octane

  1. Enjoy the advantages of 6,000 reward points upon enrollment.
  2. Receive valuable benefits equivalent to 7.25% reward points on fuel transactions at BPCL petrol pumps.
  3. Earn 25 times the regular reward points when refueling at BPCL stations, accumulating up to 2,500 points per statement cycle.
  4. Access four complimentary lounge visits at domestic airports.
  5. Benefit from a complimentary fraud liability cover of Rs.1 lakh.

Features and Benefits of BPCL SBI Card Octane

The BPCL SBI Card Octane offers several features and benefits:

1. Welcome Benefits: Receive a welcome bonus of 6,000 reward points upon payment of the annual fee, equivalent to Rs.15,000.

2. Travel Benefits: Enjoy 4 complimentary lounge visits at domestic airports annually.

3. Milestone Benefits: Upon annual spends of Rs.3 lakh, receive a gift voucher worth Rs.2,000 from Aditya Birla Fashion, Hush Puppies, Yatra, or Urban Ladder.

4. Insurance Benefits: Avail a complimentary Fraud Liability Cover of Rs.1 lakh.

5. Balance Transfer Benefits: Utilize the balance transfer facility to transfer outstanding balances from other credit cards to your BPCL SBI Card OCTANE.

6. Flexipay: Convert purchases exceeding Rs.2,500 into easy monthly installments using the Flexipay facility.

7. Contactless Technology: The BPCL SBI Card OCTANE features contactless technology.

8. Value-back Benefits:

  • Earn a value-back of 7.25% on fuel purchases at BPCL petrol pumps.
  • Obtain up to 25 times reward points on fuel purchases at BPCL petrol pumps.
  • Enjoy 6.25% value back along with a 1% fuel surcharge.
  • Maximum limit of 2,500 reward points per month.

9. Reward Point Benefits:

  • Earn 10 reward points for every Rs.100 spent on dining, movies, grocery, and departmental stores.
  • Avail 25 reward points for every Rs.100 spent on fuel at BPCL petrol pumps nationwide.

10. Fuel Surcharge Benefits:

  • Experience a 1% fuel surcharge on fuel transactions at all BPCL fuel pumps in India.
  • Fuel surcharge waiver applicable on purchases up to Rs.4,000.

BPCL SBI Card Octane Fees and Charges

Explore the fee structure for the BPCL SBI Card Octane and discover the financial advantages that come with it.

  1. Joining Fee: Rs.1,499
  2. Annual Fee: Rs.1,499
  3. Add-on Fee: Nil
    1. Credit Card Finance Charge: 3.5% on all unsecured SBI Credit Cards (except Shaurya)
  4. Minimum Amount Due Each Month: 5% of the total outstanding amount or Rs.200 + taxes, whichever is higher
  5. Interest-Free Period: 20 to 50 days
  6. Finance Charge on Cash Advance: For domestic cash withdrawal, a fee of 2.5% or Rs.500, whichever is higher
  7. Statement Retrieval: Rs.100 per statement for statements older than 2 months
  8. Late Payment Fee (Charged based on the total outstanding amount):
  • Up to Rs.500: Nil
  • Rs.501 to Rs.1,000: Rs.400
  • Rs.1,001 to Rs.10,000: Rs.750
  • Rs.10,001 to Rs.25,000: Rs.950
  • Rs.25,001 to Rs.50,000: Rs.1,100
  • More than Rs.50,000: Rs.1,300

Eligibility Criteria for BPCL SBI Card Octane

Here are essential criteria for applying for an BPCL SBI Card Octane:

  1. Minimum Age Requirement: The individual applying must be at least 18 years old.
  2. Financial Stability: Prospective applicants are required to demonstrate a consistent and stable source of income.
  3. Creditworthiness: A positive credit history and a satisfactory credit score are prerequisites for eligibility.

Documents Required for BPCL SBI Card Octane

To apply for the BPCL SBI Card Octane, you will typically need to provide the following documents:

1. Identity Proof:

2. Address Proof:

  • Passport
  • Driving License
  • Utility Bills
  • Aadhaar Card
  • Ration Card

3. Income Proof:

  • Latest Bank Statements or Salary Slips
  • Latest Income Tax Return (ITR)

How To Apply for BPCL SBI Card Octane?

Follow these steps to apply for the BPCL SBI Card Octane:

  1. Go to the official website of SBI Card.
  2. Explore the webpage displaying various SBI Credit Cards categorized for easy navigation.
  3. Specifically, look for the BPCL SBI Card Octane under the travel and fuel category.
  4. Locate the ‘Apply now’ option associated with the BPCL SBI Card Octane.
  5. Click on ‘Apply now’ to initiate the application process.
  6. Follow the subsequent steps provided to complete the application for the BPCL SBI Card Octane.

Frequently Asked Questions (FAQs) –

1. What is the BPCL SBI Card Octane?

The BPCL SBI Card Octane is a credit card offered by SBI Card in collaboration with Bharat Petroleum Corporation Limited (BPCL). It is designed to cater to the needs of individuals who frequently use their cards for fuel and travel-related expenses.

2. What are the key features of the BPCL SBI Credit Card Octane?

The card offers features such as accelerated rewards on fuel transactions, dining benefits, milestone rewards, and exclusive privileges with partner merchants.

3. How can I apply for the BPCL SBI Credit Card Octane?

To apply for the BPCL SBI Credit Card Octane, visit the official SBI Card website, navigate to the travel and fuel category, find the Octane card, and click on the ‘Apply now’ button. Follow the subsequent application steps as guided.

4. What are the eligibility criteria for the BPCL SBI Credit Card Octane?

Eligibility criteria may include age, income, credit score, and other factors. It’s advisable to check the specific eligibility requirements on the official SBI Card website.

5. What benefits does the BPCL SBI Credit Card Octane offer for fuel purchases?

The BPCL SBI Credit Card Octane provides accelerated rewards and cashback benefits on fuel transactions at BPCL outlets. It may also offer fuel surcharge waivers at specific petrol pumps.

6. Are there any annual fees associated with the BPCL SBI Card Octane?

Card fees, including annual fees and renewal charges, are subject to the cardholder’s terms and conditions. Refer to the official documentation or contact SBI Card customer service for specific fee details.

7. How can I check my BPCL SBI Card Octane rewards and statement online?

SBI Card typically provides an online portal or mobile app for cardholders to check their rewards, statements, and other account details. Log in to the designated platform for convenient access.

8. What is the interest rate applicable to the BPCL SBI Card Octane?

The interest rates on credit cards can vary. Refer to the terms and conditions or contact SBI Card customer service for information on the applicable interest rates for the BPCL SBI Credit Card Octane.

9. Can I redeem rewards earned on the BPCL SBI Card Octane for cash?

Many credit cards, including the BPCL SBI Card Octane, offer reward redemption options. Check the rewards program details on the official website to understand the available redemption choices, including cash redemption if applicable.

10. How can I contact customer support for the BPCL SBI Card Octane?

For any queries or assistance related to the BPCL SBI Credit Card Octane, you can contact the SBI credit card customer care support through the helpline provided on the official website or on the back of your credit card.