Best Fuel Credit Cards by State Bank of India

Gasoline, or petrol and diesel prices in India are skyrocketing by the day. Understandably, there’s very little that common persons can do about these prices, especially if you own a vehicle such as a scooter or bike, car or truck or even some heavy equipment that needs hydrocarbon fuels.

Part of this surge in petroleum prices in India is due to the depreciating exchange rate of the Indian Rupee against the US Dollar and major currencies of the world. It’s a well-known equation that any surge in fuel prices leads to inflation worldwide. That’s because majority of vehicles in the world use hydrocarbon fuels such as petrol and diesel.

However, in India, it’s possible to slice off a few Rupees of your petrol and diesel bills, the next time you’re refuelling a personal or commercial vehicle. This is possible by using two of the co-branded credit cards issued by the State Bank of India and Bharat Petroleum Corporation Ltd or BPCL.

Understandably, the SBI-BPCL co-branded credit cards aren’t the only ones in the best fuel credit cards category. All state-owned petroleum companies have their own co-branded credit cards with various Indian banks.

Why BPCL-SBI Fuel Credit Cards?

Therefore, the question arises, why should an Indian consumer opt for a BPCL-SBI co-branded credit card? The reasons are simple. SBI is the largest state-owned lender bank in India. It has some 22,500 branches serving populations living in urban as well as remote locations in the country. This makes it easier for Indians to apply and procure an SBI credit card, provided they meet the eligibility criteria such as good credit score and repayment capability.

Furthermore, BPCL is a state-owned enterprise. As a matter of fact, it ranks as the ‘Maharatna’ enterprise of the Indian government. BPCL has close to 18,700 gasoline stations across the expanse of India, with locations ranging from remote villages and highways to modern urban settings.

As a result of this formidable combination, BPCL-SBI co-branded credit cards come packed with a host of unbeatable features for the holder. If you’re a vehicle owner or have a fleet of vehicles that require petrol and diesel, you would surely find that a BPCL-SBI co-branded credit card offers savings on fuel expenses and lots of other attractive features.

In this article, we will explore some of these amazing features that BPCL-SBI co-branded credit cards offer and other relevant elements.

Features of BPCL-SBI Co-branded Fuel Credit Cards

BPCL and SBI have a single co-branded credit card. It’s known by the simple name, BPCL-SBI card. However, the two state-owned companies have one more, premium variant of this card. This premium variant is available as BPCL-SBI Octane credit card. As with any other product, the premium, Octane version offers better facilities than its regular or classic version.

Here’re some of the basic features of the two:

1. BPCL-SBI Octane Fuel Credit Card

A BPCL-SBI Octane fuel credit card entitles you to several benefits.

Annual Joining Fee: Rs.1,499
Annual Membership Fee: Rs.1,499

This means, you will pay Rs.2,998 during the first month of holding a BPCL-SBI Octane co-branded fuel credit card. Sometimes, SBI and BPCL have promos during which the annual joining fee waiver would be offered. At times, you might also get a one-off annual membership waiver

One of the main attractions of the BPCL-SBI Octane fuel credit card is the facility to earn as many as 25 reward points on spends of Rs.100 each at any of the 18,500 BPCL gasoline stations across India. Additionally, you get the same number of reward points by paying for a Bharat Gas new Liquified Petroleum Gas (LPG) connection and subsequent refills. You can also avail the same facilities for buying MAK auto and machine lubricants from any fuel station or other authorized dealer since this brand of superior quality lubes are also made by BPCL.

It’s worth remembering that each reward point you earn at BPCL petrol stations, Bharat Gas refills and MAK lube outlets translates as Rs.1. This directly translates as 25 percent cashback on your fuel, lube and LPG expenses and offers a superb avenue to save cash. On other spends on a BPCL-SBI Octane credit card, you get one reward point for every Rs.100.

Incidentally, the 25 reward points that a BPCL-SBI credit card offers on spending at Bharat Petroleum gasoline and lube stations and Bharat Gas, is the highest such in the category of fuel credit cards in India. A few other credit cards in this category offer only a maximum of 20 percent rewards points for every Rs.100. This is a vital distinction because a BPCL-SBI Octane credit card actually helps you slash 25 percent on your fuel needs.

You’re also entitled to a 7.25 percent waiver on the fuel surcharge when you use a BPCL-SBI Octane fuel credit card at Bharat Petroleum fuel stations or even those of other petroleum companies in India. Fuel surcharge in India ranges between one percent and 2.5 percent per of the total fuel bill in India and depends on the state where you refuel. The fuel surcharge waiver however would depend on taxation policies of each state.

2. BPCL-SBI Regular Fuel Credit Card

The BPCL-SBI regular fuel credit card is the actual flagship of this co-branding since this is a much affordable variant.

Annual Joining Fee: Rs.499
Annual Membership Fee: Rs.499

You will pay Rs.998 during the first month of holding a BPCL-SBI co-branded credit card. SBI and BPCL often have promos during which the annual joining fee waiver or joining fees can be waived. These fees are usually charged in your first bill.

The features of this card are similar to those listed above, for the BPCL-SBI Octane version. However, the benefits are smaller in value. With a BPCL-SBI regular credit card, you get 13 percent cashbacks on ever Rs.100 spent at Bharat Petroleum fuel stations, MAK lube and Bharat Gas. The fuel surcharge discount is a maximum up to 3.75 percent per billing cycle.

You can read full details of these fuel credit cards at the SBI website or the BPCL website. You can request an SBI customer service crew to call you regarding these cards by leaving your phone number on these links.

Wrap Up

In this article, we read the BPCL-SBI Octane and BPCL-SBI regular fuel credit cards offer the highest possible savings on fuel, lube and LPG purchases in India. Application is very simple: you can apply at any SBI branch for any of these cards, even if you aren’t an SBI customer. Standard credit card processing rules apply. These include credit checks and address verification by the issuing bank. Both these co-branded cards come from Visa and are internationally accepted. The premium Octane version also provides up to eight visits to airport lounges at selected places.