SBI Card introduced the launch of ‘BPCL SBI Card Octane’ in affiliation with Bharat Petroleum Corporation Ltd. (BPCL), offering most financial savings to customers who spend a big quantity on fuel. The credit card has been designed to provide most financial savings to the well-heeled shopper section which spends a big quantity on fuel.

The BPCL SBI Card Octane brings 25X reward factors on spends for BPCL fuel and MAK Lubricants, Bharat Gas (LPG) spends (web site and app solely) and BPCL’s ‘In & Out’ comfort retailer spends, SBI Card mentioned in a launch.

The card affords 7.25 per cent worth again (together with 1 per cent surcharge waiver) on fuel and lubricant spends at BPCL fuel stations and 6.25 per cent worth again on Bharat Gas spends, it added. It additionally bundles in accelerated financial savings on different common spend classes, together with departmental retailer and grocery, eating and films.

Card holders can avail the profit from over 17,000 BPCL fuel stations throughout the nation, and there will probably be no minimal transaction threshold for fuel spends, enabling customers to save with each transaction, the pure-play credit card firm mentioned.

“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,” SBI Chairman Dinesh Khara mentioned.

Among others, the card holders can get unique benefits corresponding to complimentary home airport lounge entry, milestone benefits value Rs. 2,000 on annual spends of Rs. 3 lakh, within the type of e-gift vouchers. The card additionally comes with a complimentary fraud legal responsibility cowl of Rs. 1 lakh.

“This launch is in line with our continued endeavour 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,” mentioned Ashwini Kumar Tewari, MD & CEO, SBI Card.

One can get 6,000 bonus factors value Rs. 1,500 on cost of annual membership of Rs. 1,499. However, there will probably be a price reversal in case of yearly spends of Rs. 2 lakh or extra within the earlier year, the discharge mentioned.

“Our partnership with SBI Card ensures that we continuously endeavour 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,” BPCL Chairman & Managing Director K Padmakar mentioned.