SBI BPCL Octane Credit Card : Benefits, Rewards and Fees

Are you a frequent fuel user or someone looking to maximize their spending on daily essentials like groceries, dining, and travel? The BPCL SBI Card OCTANE might just be the perfect credit card for you! It offers significant rewards on fuel purchases, attractive cashback on other categories, and some great travel perks. With the SBI Card OCTANE, your BPCL fuel spends turn into savings, and the extra benefits will make it worth your while. Let’s dive deep into what makes this card a fantastic choice.

Welcome Gift 

You can avail a welcome gift of 6,000 reward points (equal to ₹1,500) One of the first treats that you will get with BPCL SBI Card OCTANE is an introductory benefit which enables customers to earn more for every Rs. All you need to do for these points is pay the annual fee and reward points will be posted within 30 days.

Terms and Conditions of the Welcome Gift:

• Reward points will be provided only after payment of the joining fee

• You will receive points directly in your card account within 30 days from the date of paying the fee.

Value Back Benefits

You get 7.25% Value Back as reward when you refuel at BPCL stations with the help of BPCL SBI Card OCTANE and this gives a remarkable return in terms of 25X Reward Points for fuel purchasing fees. So for every ₹100 spent on fuel across BPCL stations you get rewarded with 25 reward points.

Cash Back Percentage: 

• 7.25% Value Break Down

• Yield for all fuel transaction in Reward Point 6.25%

• 1% Fuel surcharge waiver: For transactions of up to ₹4,000.

However, this reward cap is limited up to 2,500 points per billing cycle on fuel transactions; so ensure that you check the status of how much your spent.

BPCL SBI Card Octane Fuel Rewards:

In addition to gas, you can also get rewards on many other types of transactions. E.g. 25 Reward Points per ₹100 Spent on Bharat Gas (on their website or app), 10 Reward points per ₹100 spent in category dining, groceries and movie tickets etc.. And, you will also get 1 Reward Point per ₹100 spent on all other retail transactions.

Key Reward Calculations:

Redemption option: BPCL Fuel & Bharat Gas = 25 Reward Points rPi They have alternative redemption choices as well, for example payment against loans which actually reduce the effective value to ₹0.75 per reward point though we recommend that you redeem it only from fuel stations or towards your gas cylinder at BPCL pumps fairprice shops if and when they get operational in urban areas can be considered too depending on utility of having a subsidy connection there is detailed discussion here: 

• 10 Reward Points = Rs 100 on Dining, Groceries & Movies

• 1 Reward Point = ₹100 on all other transactions

However, reward points of Bharat Gas are capped at 500 per billing cycle so take note if you use gas in high volumes.

Fuel Freedom Benefits

Freedom from fuel surcharges is one of the best strengths this card has going for it. You can save up to ₹100 per statement cycle with 1% fuel surcharge waiver, available at all BPCL petrol pumps across India. This means you are saving about ₹1,200 a year. This however, is restricted to transactions of upto ₹4,000 and the same does not include GST and other surcharges.

Lounge Access Benefit

Frequent travelers will appreciate the lounge access benefits that come with this card. This card allows access to Domestic VISA lounges in India for up to 4 free visits per calendar year with one visit allowed each quarter.

Milestone Privileges

The BPCL SBI Card OCTANE is special, due to milestone benefits. E-gift vouchers across top brands like Aditya Birla Fashion, Yatra or Bata/Hush Puppies worth ₹2,000 when you spend ₹3 lakhs in a year

Brands Eligible for Redeeming:

• Aditya Birla Fashion: Brand Louis Philippe, Van Heusen, Allen Solly etc.

• Yatra: For your travel needs.

• Bata/ Hush Puppies: Footwear

Other Benefits

• Fraud Liability Cover:

Get peace of mind with ₹1 Lakh Fraud liability cover on lost/stolen card.

• Spend-Based Fee Reversal:

Once your annual spends breach ₹2 lakhs, the renewal fee is waived off, which makes this card even more economical.

• Instant Reward Redemption:

At designated BPCL petrol pumps, you can convert points directly to fuel when you refuel your own vehicle using the reward point)(s) earned in terms of permanent and temporary separating card with or without a separate device added into this mode.

BPCL SBI Card OCTANE Benefits :

• Contactless Payments:

Such a transaction is highly secure, and because of the Visa payWave feature on the BPCL SBI Card OCTANE you can do it in contactless fashion too. Just hold card over the reader and that's it!

• Security:

Because the card is never given to you, and consequently not used at any merchant point-of-sale when using Apple Pay for purchases. Even in a case of the card being waved multiple times, only one transaction is processed by the system providing an additional level of security.

• Worldwide Acceptance :

The BPCL SBI Card OCTANE is accepted in over 24 million outlets across the globe that includes a network of more than 325,000 acceptance points available all throughout India. This card takes care of you whether youre dining, shopping or filling up overseas.

• Add-on Cards:

This is a great opportunity to share the benefits of this card with your family. The add-on card facility enables you to provide extra cards for your spouse, parents, children or siblings over 18 years age.

• Utility Bill Payment :

If that does not rid you of strain, another idea is to commit suicide. Easy Bill Pay lets you pay your power, telephone and other utility bills via the BPCL SBI Card octane — to ensure timely payments without any late fees.

• Balance Transfer on EMI :

Do you wish to reduce the burden of your remaining credit card dues? The Balance Transfer on EMI feature lets you transfer balances from other bank credit cards to your BPCL SBI Card OCTANE at a lower interest rate and pay back in easy installments.

Flexipay :

Eyeing a big ticket purchase? An interesting feature that comes with Flexipay is this, you will be able to convert any transaction over ₹2,500 into easy EMIs. Simply log in to sbicard. It works on PC or Mac OS but you will need to have a connection with Internet, and create an account at dl2.encore.com 30 days of your purchase.

Fees and Charges of SBI BPCL OCTANE Card :

• Joining Fee: ₹1,499 + GST

• Annual Fee: ₹1,499 + GST (waived off on spends of ₹2 lakhs in previous year)

• Add-on Fee: Nil

For more details on fees and charges, please refer to the Most Important Terms & Conditions at the SBI Card website.

Conclusion :

The BPCL SBI Card OCTANE is a powerhouse for fuel savings, offering exceptional rewards on fuel purchases along with a host of additional benefits like lounge access, milestone vouchers, and fee waivers. Whether you’re looking for savings at the pump, rewards on dining and groceries, or travel perks, this card has something for everyone. If you’re a regular user of BPCL fuel or simply looking for a well-rounded credit card with attractive benefits, the BPCL SBI Card OCTANE is definitely worth considering.

FAQ

1. What is a Contactless Credit Card?

 Contactless Credit Card powered by VISApay Wave/RuPay Contactless is a fast and convenient way to pay for everyday purchases. It is a secure,contactless chip technology designed to help you spend less time at the cash register and give you the freedom to do the things that matter most to you.

2. How does the Contactless Credit Card work?

 Step 1: Look for the VISA payWave/RuPay Contactless mark and contactless logo at the point of sale.

 Step 2: The cashier enters your purchase amount into the terminal. This amount will be displayed on the contactless reader.

 Step 3: Hold your card over the reader or at the POS at close range (less than 4 cm from where the contactless logo appears).

 Step 4: Four green indicator lights or a beep sound will indicate that the transaction is complete. A message will also be displayed on the screen indicating the transaction is complete. No PIN is required. Please note that payment through contactless mode is allowed for a maximum of `5,000 for a single transaction.

3. What are the benefits?

 Contactless payment functionality powered by VISA payWave/RuPay Contactless is specially designed for you for speed, convenience and security. There’s no

dipping, swiping, entering PIN or fumbling for cash. You’re ready to go in just a few seconds. Ideal for places like fast-food joints, petrol stations, movie theatres etc. During a contactless transaction the card never leaves your hand. This greatly reduces the risk of card loss and fraud through counterfeit/skimming.

4. Is there a limit for a contactless transaction amount?

 Can I set my own Limit?  Payment through the contactless mode is allowed for a

Look Wave Go maximum of `5,000 for a single transaction. For a contactless transaction PIN is not required. This limit is common for all customers and setting up of individual limits is not possible. Any transaction amount more than

5. Where can I use my Contactless Credit Card?

 You can look for the Universal Contactless symbol at the POS machine at merchant outlets. Also please visit www.sbicard.com for details of merchants enabled for VISA payWave/RuPay Contactless payment acceptance.

6. Can I use my Contactless Credit Card at other merchants (not enabled for contactless payment acceptance) as well?

 Yes, for the merchants not enabled for contactless payment acceptance, you can use this card for a normal dip or swipe transaction.

7. Could I be debited twice if I have more than one contactless card?

No, contactless readers communicate with one card at a time. If the shop’s reader finds more than one contactless card in your wallet or purse, you will be asked to select one card to pay.

8. Could I unknowingly have made a purchase if I walk past the reader?

 No, your card has to be waved within 4cm of the card reader for more than half a second and the retailer must enter the amount for you to approve. Terminals can only process one payment transaction at a time, therefore reducing transaction errors.

9. Is there any difference in the process for ATM and Internet transactions for this contactless Credit Card?

 There is no difference in transaction process for ATM or any Card not Present Transactions including Internet transactions. For ATM transactions you need to enter the PIN and for Internet transactions you need to enter your 3D secure PIN or OTP.

10. What happens if my contactless card is stolen – can it be misused?

 Immediately report the loss of your Credit Card to SBI Card to prevent any misuse. Please call our helpline or visit SBI Card App / Website to block your credit card. Safeguards are in place to mitigate misuse of lost or stolen cards by fraudsters. The limit for Contactless Card transactions without entering the PIN is `5,000, above which the transaction needs a PIN for authorization. Please note that your maximum liability on any given date will be limited to the available credit limit on your card.

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Author - Abhishek Sonawane

Abhishek Sonawane, an MBA graduate from the prestigious Indian Institute of Management Visakhapatnam (IIMV), brings over ten years of experience in the finance domain. His extensive background includes various roles in financial management and strategy, providing him with a comprehensive understanding of the financial landscape. Abhishek’s expertise and dedication to financial education make him an authoritative voice in personal finance, helping readers make informed financial decisions.