SBI BPCL Octane Credit Card Benefits & Charges – Review

SBI BPCL Octane Credit Card is one of the best credit cards of SBI. It is best for those who prefer to purchase fuel from Bharat Petroleum because this card gives value back of 7.25% of fuel purchases on BPCL petrol pumps.

SBI Octane Credit Card annual fees will be returned in the form of bonus reward points at the time of purchase of credit card.

Besides there are also other credit cards that offer better fuel benefits, but SBI BPCL Octane Credit Card has its own features and benefits over other credit cards.

Not only this, Octane credit card also comes up with various other benefits which are discussed in this article.

 

What are the eligibility criteria for SBI Octane Credit Card?

SBI has set certain criteria for eligibility to apply for this card. Those are:

• Those who apply shall have the age of 18-60 years.
• It is available to both salaried and self-employed.

 

What are the benefits and features of SBI BPCL Octane Credit Card?

SBI BPCL Octane Credit Card is one of the best SBI credit cards for fuel because of the following benefits which it provides:

 

Value-Back Feature on Fuel Purchases

• Credit card users get 7.25% value back on fuel purchase on BPCL petrol pumps.
• Value Back 7.25% = 6.25% reward points + 1% fuel surcharge waiver on every transaction upto Rs.4000.
• 1 reward point = Rs. 0.25, so in total you will get 25 reward points.
• Maximum reward points can be 2500 reward points per billing cycle.
• Maximum surcharge can be waive of Rs.100 in a statement cycle [equals to Rs.1200 annually]

 Also Read: Credit Cards with Insurance Benefits

Welcome Benefits

• This credit card has joining fees of Rs.1499.
• Once you pay the joining fees you can get 6000 bonus reward points of worth Rs.1500 in the form of welcome benefits.
• Within 30 days of payment of joining fees these reward points will be credited.

 

Reward Points Benefits

• You earn 25 reward points on every Rs.100 at BPCL Fuel, Lubricants and Bharat Gas.
• Earning of 10 reward points on every Rs.100 on groceries, department stores, movie tickets and dining.
• On every Rs.100 on non-fuel retail purchases (excluding mobile wallet upload & Non-BPCL fuel spends) you get 1 reward point.
• 1 reward point = Rs. 0.25

 

Milestone Benefits

You can get e-gift voucher of Rs.2000 either of the following merchants:

• Aditya Birla Fashion
• Yatra
• Urban Ladder
• Hush Puppies
• Bata

on annual spending of minimum Rs.3 Lac using SBI BPCL Octane Credit Card.

 

Airport Lounge Benefits

You will get 4 complimentary visits per calendar year to domestic VISA lounges in India

Maximum of 1 complimentary visit is allowed per quarter.

 

Liability Cover

You will get complimentary fraud liability cover of Rs.1 Lac. In case of fraud transaction occur on your credit card then you will get fraud liability of Rs.1 Lac.

Also Read: SBI International debit card (visa paywave / mastercard paypass)

 

Annual Fee Waive

Joining fees for this card is Rs.1499 and there is also a renewal fee (annual fees) of Rs.1499, which can be waived off if your annual spend is of Rs.2 lacs or more.

 

Conversion into EMI

You can convert purchases of worth Rs.2500 or more into easy EMIs via Flexipay option.

Conversion can be done within 30 days from the date of transaction.

 

Add-on Cards

You can apply for an add-on credit card for your parents, spouse, children and siblings who are above 18 years of age.

 

Other Benefits

• It has worldwide acceptance.
• Contactless transactions can be done.
• Instant reward redemption at select BPCL petrol pumps.
• By using this card you can make payments for electricity, telephone, mobile and other utility bills.
• It is fast & convenient.
• You can make outstanding balance transfers from other credit cards on this card.

Also Read: SBI IOCL Contactless Debit Cards (Global and Platinum) – Review

 

What type of charges and fees are on SBI BPCL Octane Credit Card?

Joining Fee	Rs.1499/-
Annual Fee (Renewal fee)	Rs.1499 p.a. (can be waived off if annual spend is of Rs. 2 lac or more.
Add-on-fees	NIL
Finance Charges	Higher of the following: Upto Rs.25 or 3.35% per month. Charges levied from the date of transaction.
Minimum amount due	5% of total outstanding
Cash advance fee (Cash withdrawal fees)	SBI or other domestic ATM = 2.5% of transaction amount subject to minimum Rs. 500   International ATM = 2.5% of transaction amount subject to minimum Rs.500
Cash advance limit	Upto 80% of credit limit (maximum Rs.12000 per day)
Over limit charges	2.5% of over limit subject to minimum Rs.500
Late Payment Charges	Total Amount due: Rs. 0 – Rs. 500 = NIL Rs. 501 – Rs. 1000 = Rs. 400 Rs. 1001 – Rs. 10000 = Rs. 750 Rs. 10001 – Rs. 25000 = Rs. 950 Rs. 25001 – Rs. 50000 = Rs. 1100 Above Rs. 50000 = Rs. 1300
Other type of Charges
Statement Retrieval Charges	Rs. 100 per statement
Cheque pickup charges	Rs. 100
Payment dishonor charges	2% of the payment amount subject to minimum Rs.450
Card replacement charges	Rs.100
Foreign currency transaction fees	3.5%
Cash Payment fees	Rs.199
Railway tickets through IRCTC official website	1.8% of the transaction + service charges.

Also Read: SBI Credit Card (How to activate/deactivate Auto Debit facility)

Conclusion

SBI BPCL Octane credit card has come up with various benefits which usually attract those who purchase fuel at select Bharat Petroleum. It is one of the best credit cards of SBI. If you want to apply for this card then you can apply on SBI official website or by reaching the nearest branch of SBI.