BPCL SBI Card Octane
Product Details
Credit Card Name :
BPCL SBI Card Octane
Bank Name :
State Bank Of India
Type :
Fuel Credit Card
Interest Rate :
3.50% per month (42% per annum) from the transaction date.
Eligibility :
Age: You must be minimum 21 and maximum 70 years old.
Income: You must have a stable source of income.
Credit score: A good credit score is generally required.
Pros
Welcome Benefit: Get 6000 bonus reward points worth INR 1500 on payment of annual fees.
Reward System: Get 25 point on spend of every INR 100 at BPCL petrol pumps + Bharat Gas + BPCL fuel lubricants. Value of 1 point = INR 0.25. Effective cashback rate: 6.25% (Capped at 2500 reward points per month). Get 10 reward points on every 100 spent at dining, departmental stores, grocery and movies. Dining & entertainment cashback rate: 2.5% (Capped at 7500 reward points per month). Get 1 reward point on INR 100 on all other spends. Effective general cashback rate: 0.25%
Get 4 free visits per calendar year to domestic air lounges in India.
Annual fee reversal on spending INR 2,00,000 on the card.
Get free gift vouchers worth INR 2,000 from Aditya Birla Fashion Or Yatra Or Bata/Hush Puppies on annual spends of INR 3 Lakhs.
Cons
Low general cashback rate.
No free movie tickets.
Pros & Cons
Welcome Benefits
Welcome Benefit: Get 6000 bonus reward points worth INR 1500 on payment of annual fees.
Rewards System
Reward System: Get 25 point on spend of every INR 100 at BPCL petrol pumps + Bharat Gas + BPCL fuel lubricants. Value of 1 point = INR 0.25. Effective cashback rate: 6.25% (Capped at 2500 reward points per month). Get 10 reward points on every 100 spent at dining, departmental stores, grocery and movies. Dining & entertainment cashback rate: 2.5% (Capped at 7500 reward points per month). Get 1 reward point on INR 100 on all other spends. Effective general cashback rate: 0.25%
International Forex Markup
3.5%.
Welcome Benefits and Reward System
Special Features
Get 25 point on spend of every INR 100 at BPCL petrol pumps + Bharat Gas + BPCL fuel lubricants. Value of 1 point = INR 0.25. Effective cashback rate: 6.25% (Capped at 2500 reward points per month).
Eligibility Criteria
Age: You must be minimum 21 and maximum 70 years old.
Income: You must have a stable source of income.
Credit score: A good credit score is generally required.
Benefits
Great cashback on fuel purchases.
Free airport lounge visits.
Good milestone benefit.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
1. Online: This is the faster and more convenient method:
Visit the SBI Card website: Head to the official SBI Card website.
Navigate to the BPCL SBI Card Octane page: Find the "Personal" category and choose "Shopping" as the sub-category.
Click "Apply Now": Look for the prominent "Apply Now" button on the card page.
Fill out the application form: Provide your personal details, income information, and KYC documents like PAN, etc.
Review and submit: Carefully review the application details.
Await decision: You'll receive an instant preliminary decision based on the information provided.
2. Offline: This method involves visiting a SBI branch and completing the application process:
Visit an SBI branch: Find a nearby SBI branch and express your interest in applying for the BPCL SBI Card Octane.
Fill out the application form: A bank representative will assist you with the form and guide you through the process.
Submit the form and documents: Provide all requisite documents such as PAN, Aadhaar, and income proof along with the completed application.
Await decision: The bank will process your application and inform you about the final decision through your preferred communication channel.
Contact Details
l 1860 500 1290, 1860 180 1290, 39 02 02 02(Prefix local the STD code) or 1800 180 1290 (Toll Free)
Account Opening and Procedure
BPCL SBI Card Octane
The card offers an impressive cashback of 6.25% on purchase of fuel from Bharat Petroleum or on purchase of gas from Bharat Gas. It is one of the best fuel credit cards. The only con is that your cashback is capped at ~ INR 800. Card's fee is only INR 499. The cards also provides free 4 air lounge visits and provides 2.5% cashback on dining, departmental stores, grocery and movies.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Annual Fee (one time): INR 499 + Taxes.
Renewal Fee (per annum): INR 499 + Taxes.
Cash Advance fees: 2.5% or Rs. 500 whichever is higher at domestic ATMs and 2.5% or Rs. 500, whichever is higher at international ATMs.
Interest Rate: Up to 3.50% per month (42% per annum) from the transaction date.
Late Payment charges will be applicable if Minimum Amount Due is not paid by the payment due date. NIL for Outstanding Amount on payment date from Rs.0-Rs.500, Rs. 400 for Outstanding Amount greater than Rs. 500 & up to Rs. 1000; Rs. 750 for Outstanding Amount greater than Rs. 1000 & up to Rs. 10,000; Rs. 950 for Outstanding Amount greater than Rs. 10,000 up to Rs. 25,000; Rs. 1100 for Outstanding Amount greater than Rs. 25,000 & up to Rs. 50,000; Rs. 1300 for Outstanding Amount greater than Rs. 50,000.
Reward Redemption Fees: INR 99/- per redemption.
Fuel Surcharge
1% Fuel Surcharge waiver for each transaction between INR 500 and INR 4,000. Maximum Surcharge waiver of INR 100 per statement cycle, per credit card account.
Billing Cycle
30 Days.