BPCL SBI Credit Card OCTANE Review

BPCL SBI OCTANE Credit Card

Fee

Joining Fee: ₹ 1499+GST
Annual Fee: ₹ 1499+GST

Type

Co-Branded, Fuel

Return

0.25% to 6.25%

Rating

4.7/5

Network

Visa, Rupay

Benefits

Domestic Airport Lounge Access, Fuel Surcharge Waiver

Depending on the card, fuel transactions may not be eligible for rewards, while others may be subject to a surcharge. There are a few fuel credit cards that provide us with good savings on fuel expenses. The BPCL SBI credit card OCTANE is one of the best options if you use Bharat Petroleum fuel pumps for your vehicles. With the BPCL SBI credit card OCTANE card, you can get 6.25% back on fuel purchases, and 2.5% back on department store and grocery purchases. Furthermore, it waives a 1% fuel surcharge so we don’t have to pay extra at the pump if we use a credit card.

Fees

Unlike other issuers, SBI Card always charge a joining fee for its credit cards. But, this is offset by the welcome gift. The annual fee waiver is relatively less at ₹ 2 Lakh spends for the rewards it provides.

LTF IndusInd Bank Credit Cards
Joining Fee₹ 1499+GST ~₹ 1769
Welcome Gift6000 Reward Points ~₹ 1500 Value
Annual Fee₹ 1499+GST ~₹ 1769
Renewal BenefitNone
Annual Fee WaiverOn spends of ₹ 2 Lakh in a year
BPCL SBI Credit Card OCTANE Review: Fees

Rewards

The BPCL SBI credit card OCTANE has a 6.25% reward rate for all BPCL spends including Bharat Gas spends. Other than this, it also gives good rewards for dining, departmental stores, grocery & movies spends. This makes it easy to achieve the required spends for an annual fee waiver.

Type of SpendReward PointsReturn
BPCL Fuel & Bharat Gas25 RP/₹ 100
*Maximum 2500 RP per billing cycle for BPCL fuel spends
*Maximum 500 RP per billing cycle for Bharat Gas spends
* ₹ 4000 is the max transaction value for rewards
* 1% fuel surcharge waiver
6.25%
Dining, Departmental Stores, Grocery & Movies10 RP/₹ 100

*Maximum 7500 RP per month
2.5%
Others1 RP/₹ 1000.25%
Non-BPCL fuel, Rent, WalletsNo Rewards0%
BPCL SBI Credit Card OCTANE Review: Rewards

The monthly transaction value to hit the max cap of accelerated fuel rewards would be ₹ 10,000. This should be more than enough for most customers. We can also spend on other categories like departmental stores and grocery to reach the annual fee waiver. The 2.5% value back on these is pretty good too.

Milestone Rewards

We would not recommend aiming for this milestone reward. We can just spend ₹ 2 Lakh to get the annual fee waiver and get maximum rewards on fuel transactions.

LTF IDFC First Bank Credit Cards
  • ₹ 2000 gift voucher on ₹ 3 Lakh spend in a membership year (0.67% Return)
  • Gift voucher options: Aditya Birla Fashion, Yatra, Urban Ladder, Hush Puppies, and Bata

BPCL SBI Credit Card OCTANE Rewards Redemption

Each reward point for BPCL SBI credit card OCTANE is worth 25 paise. We can redeem the reward points for either fuel or from the reward catalogue. Fuel redemption makes more sense as it is instant redemption at the listed outlets.

Airtel Axis Bank Credit Card
  • PoS redemption is supported at outlets listed here.
  • E-Voucher redemption is supported at outlets listed here.

Complimentary Airport Lounge Access

Refer to this list of airport lounges eligible for complimentary access with BPCL SBI credit card OCTANE.

Key Benefits and Charges

  • Fuel Surcharge Waiver: 1% waiver on fuel transactions up to ₹ 4000. Maximum surcharge waiver of ₹ 100 in a statement cycle.
  • Rent Payment Charges: ₹ 199+GST for each transaction
  • Foreign Currency Markup: 3.5%+GST ~4.13%
  • Interest Rate: 3.5% per month or 42% annually

Pros and Cons

Final Thoughts

Fuel credit cards are generally not a good fit as they offer good rewards only for fuel transactions. Plus in most cases, the reward rates are not good with lesser caps.

AU Bank Xcite Ace

BPCL SBI Credit Card OCTANE addresses these limitations to a large extent. With a generous rewards rate on fuel and good rewards on other spend categories, this card can be a good addition to our wallet. Consider this card if:

  • Monthly spends on fuel spends are around ₹ 10,000 to hit the max cap of accelerated fuel rewards.
  • You are able to spend the required amounts for a fee waiver, spend milestones on the other credit cards you hold.
  • You can spend ₹ 2 Lakh on this card to get the annual fee waiver.
  • Last but obvious one – There is a BPCL outlet nearby to use this card. 🙂

If you are looking out for a fuel credit card, do check out this post on the best fuel credit cards in India.

Frequently Asked Questions

BPCL SBI Credit Card OCTANE

Card Maven

Fees
Rewards
Benefits
4.7
Axis Bank My Zone Credit Card LTF
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19 thoughts on “BPCL SBI Credit Card OCTANE Review”

  1. Kaushik Ghosh

    Why am I unable to redeem the BPCL SBI E-VOUCHER anyone from the SBI card app?? Why are they saying card redemption is not possible??

  2. Rajat Nigam

    Is it possible to get the fee waived off by writing to customer support (in case the spends don’t cross Rs. 2 Lac threshold)

  3. Anjali Naik

    Hello,
    SBI rewardz have accelerated points for flipkart, igp etc. t
    This card normally gives 1x points for e-commerce[except grocery, dining]. Is this card eligible for accelerated rewards?

  4. What about lounge access for Add-on cards? Or can I use my card for someone else? TIA!

    1. Card Maven

      Domestic airport lounge access should work fine for add-on cards too. But the same limit of max 1 visit per quarter applies across all cards.

  5. I believe this is worth to be considered as we fuel card and 2.5 on Dining, Departmental Stores, Grocery none other cards give that(offline spends). I have checked Infinia/Magnus/Eterna/Pinnacle and seems they don’t give this much reward .
    Pinnacle 2.5 only on online spends
    Infinia 3.33% for spending on smart portal for flights/hotels else it is just 1.66% for vouchers and 1% for cash credit
    Magnus has 1.2%
    Eterna has 3.75 but on online spends only

    1. Finding the BPCL petrol bunk using SBI POS machine which gives reward points is soo difficult…,,if your octane was swiped in any another pos other than SBI in BPCL bunk it will be totally useless ..

      1. I have a BPCL octane card. It doesn’t matter which bank POS machine card is swiped on the outlet needs to be BPCL.

        Also points redemption is also quite easy now at least in Mumbai and Thane.

        1. This is the exact feedback i was waiting for!! Are you sure regardless of POS machine, if you spend at the mentioned BPCL outlets your points are accumulated?

          1. karthickeyan

            yes, regardless of the pos machine,point get accrued. using this card for over a year

          2. Thnx for the info, what about points redemption? what has been your experience with respect to redemption of points at fuel stations?

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