By: OurMoneyGuide || Last updated on: April 25, 2024
Most credit cards in India do not provide any reward points for fuel purchases. Hence, it’s critical for heavy fuel users to take a close look at the best fuel cards in India.
The SBI BPCL Credit Card is a partnership between two leading organisations, Bharat Petroleum Corporation Limited (BPCL) and the State Bank of India (SBI). This co-branded fuel card provides attractive incentives on fuel expenditure.
It also has a low annual card spend requirement to get an annual fee waiver, hence it is a good starter fuel card.
Best for those who spend upto ₹10,000 on monthly fuel purchases, and are comfortable with being restricted only to BPCL (Bharat Petroleum) fuel pumps. On these levels of fuel spends, you get 4.25% reward on fuel purchases, including a 1% fuel surcharge waiver. Though the benefit rate is slightly lower than some of the other fuel cards, you get special fuel benefits on a comparatively higher monthly fuel spend limit of ₹10,000.
Moreover, the annual card spend requirement to achieve annual fee waiver from 2nd year onwards is low (₹ 50,000). 1st year annual fee is fully compensated by the welcome offer of ₹500. Hence it is a good starter fuel card.
You earn 13 reward points worth ₹3.25 , on every ₹100 you spend on BPCL fuel purchases.
This benefit is valid only on BPCL fuel purchases upto ₹10,000 per month. Since you can earn a maximum of 1300 reward points at this special rate, in your monthly card statement cycle.
1 reward point = ₹0.25 or 25 paise. Reward points are valid for 2 years.
– You can redeem your reward points for BPCL vouchers. Please click here, to view list of BPCL outlets where these vouchers are accepted.
– You can also redeem your reward points directly & instantly at 1200 select BPCL outlets, please click here to view the list of BPCL outlets where you can redeem reward points instantly.
– You can also redeem your reward points through SBI Card’s exclusive reward point program – Shop n Smile for exclusive products in lifestyle, leisure, and travel categories. However one may get lower than ₹0.25 value for each reward point on Shop n Smile.
Fuel includes petrol, diesel, lubricants & Bharat Gas.
Fuel surcharge is applicable only at BPCL fuel stations
– Only on fuel transactions upto ₹4000, AND
– Only on fuel purchases upto ₹10,000 per month (since the waiver amount is capped at ₹100 per monthly card statement cycle)
You earn 5 reward points worth ₹1.25, on every ₹100 you spend in these categories.
This benefit is valid only on total card purchases upto ₹1 lakh per month, across these categories. Since you can earn a maximum of 5000 reward points at this special rate, in your monthly card statement cycle.
1 reward point = ₹0.25 or 25 paise, and can be used to purchase BPCL fuel as explained in the previous section above.
You earn 1 reward point worth ₹0.25, on every ₹100 you spend on all other card purchases.
Exceptions : No reward points are given on the following card spends – educational services, government institution spends, wallet loads.
Please click here for all the options to contact the bank for various issues and escalations, including-
– Lost and stolen cards : you can block on your mobile app or internet banking OR through SMS option OR by calling customer care
– Complaints and grievances : including steps on how to escalate to higher levels in case your issue is not resolved
– Raise and manage disputes
You can get add-on cards for your parents, spouse, children or siblings above the age of 18 years. For more details, and important terms and conditions, please click here.
| Annual fee | Annual fee offers | |
|---|---|---|
| 1st year joining fee | ₹499 | Welcome offer : You receive 2000 reward points worth ₹500, upon payment of joining fee. |
| Renewal fee from 2nd year onwards | ₹499 | Renewal fee offer : Renewal fee is not charged, if you spend ₹50,000 or more in the previous year. Hence the card is virtually free , if you spend ₹50,000 or more each year |
Please refer to the below table for details
| Amount due | Late Fee |
|---|---|
| Less than ₹500 | Nil |
| ₹501 to ₹1,000 | ₹400 |
| ₹1,001 to ₹10,000 | ₹750 |
| ₹10,001 to ₹25,000 | ₹950 |
| ₹25000 to ₹50000 | ₹1100 |
| Over ₹50000 | ₹1300 |
3.50% of the transaction value.
3.50% per month (42% p.a.).
– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – SBI BPCL Credit Card Fees & Charges
Although your credit card eligibility is based on multiple parameters which can be assessed once you apply for the SBI Credit Card, there are certain basic criteria that all applicants must fulfil.
| Minimum age | Salaried individuals – 21 years or above Retired pensioners – 40 years or above Self-employed individuals – 25 years or above |
| Maximum age | 70 years |
| Occupation | Salaried or self-employed |
| Other criteria | Regular source of income, good credit score preferably above 750, etc. |
| Online application process Limited time offer : You can apply online and get an Amazon voucher worth ₹250. To know more, please visit here | The easiest way to apply is to click here – APPLY NOW , you shall be taken to the card application page on the SBI Card website. You can also visit the official website of SBI Card and fill out the application form. Steps : – Fill out the Online Application form – personal details, mobile phone number, income, Aadhar / PAN number, along with some of the documents listed below. – Click ‘Submit’ and you will receive an instant decision on the application basis the information provided. – If your application is approved, you will receive a call from SBI Card team for verification. – Post necessary verification, the card is issued to you. – You will receive your physical credit card in approximately 15 working days post submission of all the requisite documents. – Virtual card : In addition to this, SBI Card team will send an SMS on your registered mobile number with a link to generate your e-card. With this e-card you can view your credit card details digitally, even before your physical card reaches you, and start shopping online instantly. |
| Offline (face to face) application process | You can visit any of the nearest branches of the bank and talk to an executive regarding the process. |
| Required documents | – PAN card – Copy of Aadhaar card (with first 8 digits masked) or any valid government address proof – Income documents – salary slip, income tax return etc. may be required depending upon the credit card eligibility & policy In addition to these, you maybe asked to provide additional documents. Please click here for full details |
| Tracking application status | – You can track the status of your application on – ‘Track Application’ section. – You can see this section on the Home page (at the top section of the page titled – ‘Track your application’) OR on the Eapply page (at the bottom of the page titled – ‘Track Credit Card Application’). Steps : – Enter the application number/ reference number you would have received when applying for the card . Click on the Track button to check the status of your SBI Card application – If you do not remember your application number/ reference number, then you have another option of retrieving your application number – by entering your first name and mobile number, and then pressing the button ‘Retrieve’. |
As you can see, your personal circumstances would dictate the best card for you. BPCL SBI Card is a good fuel card option for those who spend about ₹10,000 per month on fuel. Though the special fuel benefit rate of 4.25% is slightly lower than some of the competitor cards, it makes up by offering this high fuel reward rate on higher monthly fuel spends of upto ₹10,000 per month, this limit is higher than many competitors fuel cards.
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