M16S / State Bank of India (SBI Card) / BPCL SBI Card Octane
mid · cobrand, fuel
BPCL SBI Card Octane
The BPCL SBI Card Octane costs Rs 1,499 a year, waived if you spend Rs 2,00,000 in a year. Its base return is 0.25% (1 RP per Rs 100 on other retail purchases). The forex markup is 3.5%. Lounge visits in India: 4 per calendar year, max 1 per quarter (Visa). Read from the issuer's documents and an aggregator on 12 Oct 2026.
- Annual fee
- Rs 1,499+ GST
- Fee waived at
- Rs 2,00,000annual spend
- Base return
- 0.25%
- Forex markup
- 3.5%
- Interest
- 3.75%a month
What changed on this card
- SBI Card adds 1% fee on big fuel and transport spends from 1 Dec 2026
From 1 December 2026, SBI Card charges 1% on fuel spends above Rs 50,000 in a billing cycle and on any single transport transaction above Rs 30,000.
- SBI Card to add 1% fee on transport above Rs 30,000, Dec 2026
From 1 Dec 2026 SBI Card charges 1% of the transaction amount on every transportation transaction above Rs 30,000 (MCCs 4111, 4784, 4131). Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card to add 1% fuel fee above Rs 50,000 a cycle, Dec 2026
From 1 Dec 2026, if fuel transactions in a billing cycle exceed Rs 50,000, SBI Card charges 1% on the total fuel spends. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card limits statement credit to multiples of 4,000 points, Apr 2026
From 1 Apr 2026 Reward Points for Statement Credit can be redeemed only in multiples of 4,000 Points, on all eligible cards except the two PhonePe cards. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card caps statement credit redemption at 60,000 points, Apr 2026
From 1 Apr 2026 redemption of Reward Points for Statement Credit is capped at 60,000 Points per month on all eligible cards except Air India SBI Signature and the two PhonePe cards. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card revises late payment charges from May 2026
From 1 May 2026 no charge applies up to Rs 100 due (was up to Rs 500). Rs 100 applies above Rs 100 up to Rs 500, and Rs 500 above Rs 500 up to Rs 1,000 (was Rs 400). Higher slabs are unchanged. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card revises domestic lounge list for Prime, Miles Prime, Jan 2026
SBI Card Prime and Miles Prime are in lounge Set B, with a revised list of 30 participating domestic lounges from 10 Jan 2026. The PDF does not state the number of visits. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card adds 1% fee on wallet loads above Rs 1,000, Nov 2025
From 1 Nov 2025 SBI Card charges 1% of the transaction amount on every wallet load transaction above Rs 1,000. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card adds 1% fee on education payments via apps, Nov 2025
From 1 Nov 2025 a 1% fee applies to education payments made through third-party apps. Payments made directly to colleges or schools through their websites or POS machines carry no fee. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card adds Rs 200 cheque processing fee from Sep 2025
From 15 Sep 2025 a Cheque Processing Fee of Rs 200 applies to outstanding payments made by cheque. Payments by UPI, BBPS and NEFT stay free of extra charges. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card adds 1% fee on utility payments above Rs 50,000, Dec 2024
From 1 Dec 2024, if utility payments in a billing cycle add up to more than Rs 50,000, SBI Card charges a 1% fee on the total utility amount. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card raises finance charge to 3.75% a month from Nov 2024
From 1 Nov 2024 the rate of Finance Charges is 3.75% p.m. on all unsecured SBI credit cards, except Shaurya and Defense cards. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card stops reward points on rent payments for co-brand cards, Apr 2024
From 15 Apr 2024 Reward Points do not accrue on rent payments on the listed co-brand cards. Source: SBI Card, sbicard.com, read 28 Oct 2026
Each change is read from the bank's own notice or terms document, linked above. Every card's changes are on the change log.
Fees
| Joining fee | Rs 1,499 |
|---|---|
| Annual fee | Rs 1,499 |
| Annual spend that waives the fee | Rs 2,00,000 |
| Fee notes | Joining fee Rs 1,499, renewal Rs 1,499 from second year; renewal fee reversed if previous year's spend is Rs 2 lakh or more (within 30 days of the fee). Add-on card free. |
Rewards
| Welcome benefit | 6,000 bonus RP (worth Rs 1,500) on payment of annual fee, credited within 30 days |
|---|---|
| Reward currency | Reward Points |
| Base earn | 1 RP per Rs 100 on other retail purchases |
| Base return | 0.25% |
| Point value | 4 RP = Re 1 (Rs 0.25 per RP); instant redemption at select BPCL pumps |
| Accelerated earn | 25 RP per Rs 100 at BPCL fuel, lubricants and Bharat Gas (website and app only) = 6.25% value back, 7.25% with the surcharge waiver; 10 RP per Rs 100 on dining, departmental stores, grocery and movies |
| Caps | BPCL fuel 2,500 RP per billing cycle; Bharat Gas 500 RP per billing cycle; dining/departmental/grocery/movies 7,500 RP per month |
| Spends that earn nothing | Mobile wallet upload and non-BPCL fuel spends |
| Points expiry | 24 months |
| Milestone benefits | Rs 2,000 e-gift voucher (Aditya Birla Fashion, Yatra or Bata/Hush Puppies) at Rs 3 lakh annual spend; renewal fee reversed at Rs 2 lakh |
| Reward notes | base_return_pct = 1 RP per Rs 100 x Rs 0.25 (4 RP = Re 1), both stated on the issuer page. The fuel cap of 2,500 RP equals Rs 10,000 of BPCL fuel a cycle. Reward redemption fee Rs 99 + GST on physical products, statement credit and physical vouchers (MITC). From 1 Apr 2026 statement-credit redemption is capped at 60,000 points a month and allowed only in multiples of 4,000 points (issuer notice). Points on Flexipay/merchant EMI are reversed; wallet loads (MCC 6540/6541) earn nothing; points on spends that got an instant discount/cashback offer are forfeited. |
Travel and perks
| Domestic lounge | 4 per calendar year, max 1 per quarter (Visa) |
|---|---|
| International loungeunverified | None |
| Lounge conditions | Domestic lounge list restricted to the issuer's shorter 16-lounge list from 10 Jan 2026 (issuer lounge PDF). |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1% at BPCL petrol pumps only (card swiped at POS), on txns up to Rs 4,000, cap Rs 100 per statement cycle |
| Other freebies | Rs 1 lakh fraud liability cover |
Charges and eligibility
| Interest per month | 3.75% |
|---|---|
| Late payment fee | On outstanding amount due: Nil up to Rs 100; Rs 100 (>100-500); Rs 500 (>500-1,000); Rs 750 (>1,000-10,000); Rs 950 (>10,000-25,000); Rs 1,100 (>25,000-50,000); Rs 1,300 (>50,000); plus Rs 100 if minimum due missed two cycles running (slabs as revised 1 May 2026) |
| Cash advance fee | 2.5% of amount, min Rs 500; ATM limit Rs 15,000/day; interest from day one |
| Eligibilityunverified | Income above about Rs 30,000/month; score 750+ (aggregator) |
| Fine-print notes | Issuer product page read 2026-10-12 (rendered text); fields not listed in unverified_fields are from it or from the issuer MITC/KFS/notices already cited. No conflicts on rates or caps. Changes: the page limits the 1% surcharge waiver to BPCL pumps (aggregator did not say so), adds a 500 RP per cycle cap on Bharat Gas, and names Aditya Birla Fashion / Yatra / Bata-Hush Puppies for the milestone voucher (aggregator also listed Urban Ladder). reward_exclusions was 'Non-BPCL fuel, wallet loads, rent, EMI' (Card Insider); the page names only mobile wallet upload and non-BPCL fuel, so rent and EMI are not page-confirmed for this card (issuer-wide MITC rules still apply). Networks set from the page's 'accepts Visa or MasterCard'. Eligibility and 'no international lounge' are still the aggregator's. Issuer-wide (MITC): rent payments carry Rs 199 fee; utility bills totalling over Rs 50,000 in a cycle carry 1% fee; wallet loads over Rs 1,000 carry 1% fee; education payments via third-party apps carry 1% fee; forex markup is not reversed on refunds; fees shown exclude 18% GST. |
Questions
- What is the annual fee of the BPCL SBI Card Octane?
- Rs 1,499 a year, before GST. It is waived if you spend Rs 2,00,000 in a year.
- Does the BPCL SBI Card Octane give airport lounge access?
- Yes. In India: 4 per calendar year, max 1 per quarter (Visa). Outside India: none listed. Conditions: Domestic lounge list restricted to the issuer's shorter 16-lounge list from 10 Jan 2026 (issuer lounge PDF).
- What is the forex markup on the BPCL SBI Card Octane?
- 3.5% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the BPCL SBI Card Octane?
- Mobile wallet upload and non-BPCL fuel spends