SBI BPCL Octane Credit Card 2021| Best Credit Card for Savings on Fuel

By | September 12, 2021

SBI BPCL Credit Card – The SBI BPCL Octane Credit Card is a higher-end version of the co-branded BPCL SBI Card that was previously released. This card offers a unique set of features and perks in a variety of categories, including fuel, retail, travel, reward points, and milestone rewards. This credit card would be the finest alternative for you if you want to save some money on fuel prices. On fuel transactions made at specified Bharat Petroleum Gas stations, you can get 7.25 percent back with this SBI credit card. The card, on the other hand, has a little cost that you may easily afford.

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SBI BPCL Octane Credit Card Features & Benefits

Fuel  Benefits

Get a 1% fuel fee waiver on fuel transactions up to Rs. 4,000 at any BPCL petrol station in India, exclusive of GST and other costs. Fuel surcharge waiver of up to Rs. 100 per statement cycle per credit card account, equating to Rs. 1200 in annual savings. You will also get value back of 7.25 percent on fuel transaction made at some selected BHP Gas Stations. 

Access to Domestic Airport Lounges

With your SBI Octane Credit Card , you’ll get four free domestic airport lounge visits per year (up to one per quarter).

Welcome Benefits

When you pay your annual fees, you’ll gain 6000 bonus reward points, which is worth Rs.15,000 in cash. Within 30 days of the annual fees being paid, the reward points will be applied to your account.

Benefits of Milestones

You can earn an e-gift voucher from any brand, including Aditya Birla Fashion, Urban Ladder, Bata, Hush Puppies, and Yatra, if you spend Rs.3 lacs in a year with the SBI Credit Card.

Accumulate Reward Points

  • Earn 25 Reward Points when you spend $100 at BPCL Fuel, Lubricants, and Bharat Gas.
  • For every Rs.100 spent at the departmental store, grocery store, dining, and movies, you will receive 10 Reward Points.
  • Other than Mobile Wallet Upload and Non-BPCL Fuel Transactions, earn 1 Reward Point for every Rs.100 spent on other retail transactions.
  • 1 Reward Point will be equal to 4 Reward Points.

Transfer of Funds

Transfer the balances of other credit cards to this card. And get a low interest rate on the EMIs you’ll be paying following the balance transfer.

Conversion to EMI

  • You can convert transactions with a value of Rs. 2500 or more into EMIs.
  • Obtain a reasonable interest rate on the EMIs.
  • You have 30 days from the date of the transaction to convert the transactions into EMIs.

Other SBI BPCL Octane Credit Card Benefits

  1. It is widely accepted all around the world.
  2. It is possible to do contactless transactions with this card.
  3. Redeem your reward right away at certain BPCL gas stations.
  4. You can pay for power, telephone, mobile, and other utility bills using this card.
  5. It is quick and easy to use.

Eligibility Criteria For SBI BPCL Octane Credit Card

If you want to get this credit card than you should cop with following Eligibility criteria: 

Applicant’s Age – The primary applicant of the card must be at least 18 years old.

Employment status – Salaried person and self-employed/businessman both can apply for this card.  

Citizenship – He or she must be a citizen of India.

Good CIBIL Score – The person who is applying for this card should have a good CIBIL score.

Documents Required for SBI BPCL Octane Credit Card

  • PAN card photocopy or Form 60 and the Income Tax Returns Statement
  • Passport size Colour photograph
  • Latest 3 months Salary Slip/Proof of salary or Bank statement for income proof  verification/IT return copy for self employed person.
  • Address Proof – Aadhaar Card/Passport/Any other government-approved ID
  • Proof of Income – Latest 3 months Bank Statement/Last 3 months salary slips/2 Yrs ITR file (for self-employed)/Form 16
  • Identity Proof –  PAN Card/Aadhaar Card/Voter’s ID Card/Passport/Driving Licence
  • Fee and Charges of SBI BPCL Octane Credit Card

    • Joining Fee – Rs. 1499/- 
    • Annual Charges – Rs. 1499/- (This fee can be waived off if you spend more 2 lakhs PA) 
    • Charges for Reissue/Replacement – Rs. 100/-
    • Fee to Redeem Rewards – Rs. 99 
    • Card Replacement – Rs.100/- – Rs.250/-(Rs. 1500/- for Aurum)
    • Fee to get Statement – Rs. 100/- per statement for statements more than 2 months old
    • Charges on Cash Withdrawal – 2.5% of withdrawal amount or min Rs.500/-
    • Charges on Cheque Bounce – 2% of Due amount or minimum Rs. 500/-
    • Over Limit Charges – 2.5% of overlimit amount or minimum Rs. 600/-
    • Interest on Product Finance with Card – 3.5% interest per month (42% annually).
    • Late Payment/Outstanding Payment Charges –  
    Due Amount Charges
    On Late Payment of Up to Rs.500 Nil
    On Late Payment Between Rs.501 to Rs.1,000 Rs.400
    On Late Payment Between Rs.1001 to Rs.10,000 Rs. 750
    On Late Payment Between Rs.10,001 to Rs.25,000 Rs. 950
    On Late Payment Between Rs.25,001 to Rs.50,000 Rs. 1100
    On Late Payment More than Rs.50,000 Rs. 1300

    How to Apply for SBI BPCL Octane Credit Card

    To get SBI BPCL  card you have to follow these steps: 

    1. First of all you have to visit the official website of SBI cards. Or you can use the ‘Apply Here’ button given below. 
    2. This link will take you to the SBI BPCL Card application page. Here, you can also read more details about this card. 
    3. On this application you will see a block like the image given in below: 
    4. Enter these details correctly and click on the ‘Verify OTP’ button.
    5. After that you will have to enter OTP received on your mobile number.
    6. Now click on the Apply button. It will check your eligibility and take you to the further application process page. 
    7. After compilation of the full application form, the bank will update you for further steps. 

    If your application verification process goes right, you will get your credit card at your doorstep within 10 to 12 working days.

    FAQs for SBI BPCL Octane Credit Card

    1. With the SBI BPCL Octane Credit Card, do I get a fuel surcharge waiver?

      Yes, every transaction with the SBI BPCL Octane Credit Card includes a 1% fuel surcharge waiver. Maximum surcharge waiver of Rs. 100 per statement cycle, equating to Rs. 1200 in annual savings.

    2. What is the BPCL SBI Octane Card’s cash advance limit?

      The cash advance limit for the SBI BPCL Octane Credit Card is up to 80% of the credit amount per day, with a maximum of Rs.12,000.

    3. Is the BPCL SBI Card OCTANE eligible for an annual fee waiver?

      Yes, if your annual spending totals Rs.2 lakh, your annual charge of Rs.1,499 would be waived for the following year.

    4. How do I use the Website to redeem my credit card reward points?

      Step 1: Go to sbicard.com and log in.
      Step 2- Here you to  click on “Rewards” and then click on “Redeem Rewards”
      Step 3: Look through the Rewards Catalogue and select your favourite item.
      Step 4- Now click on Redeem Now Button and Confirm.

    5. Is it possible to transfer a balance from another bank’s credit card?

      Yes, This card allows users to transfer your outstanding balance from any other bank’s credit card to the BPCL SBI Octane Card.

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