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.
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:
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.