On December 15, 2020 SBI Cards and Payment Services Limited(SBI Card) and Bharat Petroleum Corporation Ltd(BPCL) jointly launched ‘BPCL SBI Card OCTANE’, a premium co-branded credit card. The card is designed to offer maximum savings to the affluent customer segment that spends a significant amount on fuel.
K. Padmakar, Chairman and Managing Director(CMD) of BPCL and Dinesh Kumar Khara, Chairman of SBI, jointly launched the card.
i.The cardholder can avail the benefit of the card from more than 17,000 BPCL fuel stations across India.
ii.For Fuel spends there is no minimum transaction. This enables the customers to save with every transaction.
Key Benefits of BPCL SBI Card OCTANE:
As a welcome benefit the card offers 6000 bonus Reward Points(RPs) equal to Rs 1500 on payment of annual fees of Rs 1499.
Reward points & Value Back Benefits
i.The card holders can get 25X Reward Points (RPs), when spending for BPCL fuel and MAK Lubricants, Bharatgas (LPG) and also when spent in ‘In & Out convenience store’ of BPCL.
ii.25X RPs translates into 7.25% value back(including 1% fuel surcharge on every transaction upto Rs. 4,000) on spending for fuel and lubricant at BPCL Fuel Stations and 6.25% value back Bharatgas online payments(Website & App Only).
iii.It offers 10 RPs for every Rs. 100 spent at Dining, Departmental Stores, Grocery & Movies.
- It offers Rs 1 lakh worth complimentary fraud liability cover.
- It offers an annual fee reversal on Rs 2 lakh annual spends.
- It also offers milestone benefits of Rs 2,000 on annual spends of Rs 3 lakh in form of e-gift vouchers.
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About SBI Cards and Payment Services Limited(SBI Card):
Headquarters– Gurgaon, Haryana
Managing Director(MD) and Chief Executive Officer(CEO)– Ashwini Kumar Tewari
Founded– October 1998
About Bharat Petroleum Corporation Ltd(BPCL):
Headquarters– Mumbai, Maharashtra
Chairman and Managing Director(CMD)– K. Padmakar