SBI Card and BPCL launch BPCL SBI Card OCTANE
Guwahati, December 16 2020: SBI Card, India’s largest pure play credit card issuer, and Bharat Petroleum Corporation Ltd, a Maharatna Company and the second largest petroleum company in India today announced the launch of the BPCL SBI Card OCTANE. The card has been designed to offer maximum savings to the well-heeled consumer segment which spends a significant amount on fuel. The BPCL SBI Card OCTANE brings 25X Reward Points (RPs) on spends for BPCL fuel and MAK Lubricants, Bharatgas (LPG) spends (Website and app only) and BPCL’s In & Out convenience store spends.
BPCL SBI Card OCTANE offer, which translates to a whopping 7.25% value back (including 1% surcharge waiver) on fuel and lubricant spends at BPCL fuel stations and an unbeatable 6.25% value back on Bharatgas spends (Website and app only) also bundles in accelerated savings on other regular spends categories, including, Departmental Store & Grocery, Dining and Movies. BPCL SBI Card OCTANE customers will benefit from BPCL`s extensive network, enjoying savings on fuel and lubricants at 17000+ Bharat Petroleum fuel stations, across the country. Additionally, there will be no minimum transaction threshold for fuel spends, enabling customers to save with every transaction. An altogether Pure for Sure experience at BPCL fuel stations!
Sharing his perspective, Mr. Dinesh Khara, Chairman, SBI said, “Launch of this BPCL SBI Card OCTANE bolsters partnership of SBI Card with BPCL. The card will bring consumers the highest savings proposition on fuel in the industry, thus making it a preferred choice in the segment. This launch will surely aid and bolster digital payments growth in India.”
The BPCL SBI Card OCTANE combines best in class rewards points on fuel spends with value back on various regular spends categories, thus addressing overall spending needs of cardholders. BPCL SBI Card OCTANE will provide 10X RP on Dining, Movies, Grocery & Departmental Store Spends. BPCL SBI Card OCTANE cardholders can enjoy exclusive benefits such as complimentary domestic airport lounge access. The card offers milestone benefits worth INR 2000 on annual spends of INR 300,000, in the form of e-gift vouchers. The card also comes with a complimentary fraud liability cover of INR 100,000.
Talking about the launch of the new co-brand card, Mr. Ashwini Kumar Tewari, MD & CEO, SBI Card said, “BPCL SBI Card OCTANE further strengthens our robust co-branded card portfolio and will propel our partnership with BPCL. This launch is in line with our continued endeavor to offer our customers the best-in-class products with superior value. In addition to the savings on fuel and lubricants across Bharat Petroleum`s vast network across India, the card will also offer accelerated reward points on major spend categories, such as, Departmental Store & Grocery, Movies and Dining and Bharat Gas spends (Website and App only), making it a holistic, primary card for our customers.”
Mr. K Padmakar, Chairman & Managing Director, Bharat Petroleum Corporation Ltd said, “We are extremely happy to introduce the BPCL SBI Card Octane which offers best in the category benefits to our customers on purchase of fuel and lubricants across our 17000+ Retail Outlets and on online Bharatgas LPG payments. Our partnership with SBI Card ensures that we continuously endeavor to provide value to our customers through innovative products and offerings. The BPCL SBI Card OCTANE is one of our contributions towards digitally empowering society.”
Speaking about the launch of the new co-brand card, Mr. Arun Kr. Singh, Director (Marketing) Bharat Petroleum Corporation Ltd said, “BPCL has been at the forefront of the digital revolution in the country and the BPCL SBI Card OCTANE symbolizes BPCL’s steadfast commitment to offer vastly differentiated and best in class value through its digital offerings to all segments of the fueling consumers in the country. BPCL SBI Card OCTANE is packed with an empowering value proposition across its retail fuels, Bharatgas and Lubricants portfolio giving our valued customers a hugely rewarding cashless fueling experience.”
The card brings value from the point of enrolment itself, offering 6000 bonus points worth INR 1500 on payment of joining fee. BPCL SBI Card OCTANE also offers annual membership fee reversal on annual spends of INR 200,000 or more on in the previous year. The card launched on Visa Signature platform comes at an annual membership fee of INR 1499/-.
Highlights of BPCL SBI Credit Card OCTANE:
The BPCL SBI Card OCTANE offers many distinct benefits and rewards to cardholders, including:
• Welcome Benefit: 6,000 Reward Points worth INR 1,500 upon payment of joining fees.
• Reward Points:
o 25X Reward Points on every INR 100 spent at BPCL Fuel, Lubricants, and Bharat Gas (Website & App only) (Limited to Max 2500 Reward Points per billing cycle).
o 10X Reward Points on every INR 100 spent at Dining, Movies, Grocery and Departmental Stores.
o 1 Reward Point on remaining spends (except Non BPCL fuel and Mobile wallet upload).
• Milestone Benefit: E-Gift Voucher worth INR 2,000 on annual spends of INR 300,000.
• 4 Complimentary Domestic Airport Lounge Access in India (Max 1 visit per quarter).
• Annual fee reversal on annual spends of INR 200,000.
• 1% Fuel Surcharge waiver at BPCL petrol pumps.
• Complimentary Fraud Liability cover of INR 100,000.