[ad_1]
Varied card issuers resembling SBI, IDFC FIRST Financial institution, Axis Financial institution and so on. supply gas bank cards which can be co-branded with common gas stations like BPCL, HPCL, and IndianOil. If you’re somebody whose month-to-month spends embody a substantial quantity spent on gas transactions, getting one such card might help you save loads. In your assist, we have now in contrast the options and advantages of three hottest and rewarding gas bank cards in India- BPCL SBI Card Octane, IDFC FIRST Energy+ Credit score Card and IndianOil Axis Financial institution Credit score Card. To make an knowledgeable resolution, you possibly can select a card that matches effectively along with your spending patterns, and aligns probably the most along with your preferences. Learn on to know extra.
A gas bank card might help you save a considerable quantity on an essential, however one of the vital costly spends-fuel. Not like different playing cards that supply gas profit within the title of surcharge waiver, these playing cards supply inclined advantages on gas, by way of accelerated rewards. Apart from, some playing cards additionally supply prolonged advantages resembling rewards on retail spends, lounge entry, film reductions and so on.
Observe: The estimated worth again proportion is calculated as per the incomes and redemption values supplied on the playing cards. Click on right here to verify the worth again calculation.
Particulars | BPCL SBI Card Octane | IDFC FIRST HPCL Energy+ Credit score Card | IndianOil Axis Financial institution Credit score Card |
Becoming a member of/Annual Price | Rs. 1,499 | Rs. 499 | Rs. 500 |
Key Highlights |
|
|
|
Which card provides the utmost financial savings?
The worth again supplied on these playing cards is earned by means of reward factors and reductions, on gas and non gas bills. Whilst you earn accelerated rewards on gas and different day-to-day classes like grocery, utility invoice funds, buying and so on, you additionally earn advantages on all spends. Based mostly on the options, as listed under, we have now derived the estimated financial savings in a month, with these playing cards.
BPCL SBI Card Octane:- As much as 7.25%* Worth again on gas spends
- 25X reward factors on gas purchases: 25 Reward Factors on each Rs. 100 spent at BPCL Gasoline, Lubricants & Bharat Gasoline (Web site and app solely) spends (As much as 2500 factors per billing cycle)
- 10 Reward Factors on each Rs. 100 spent at Eating, Departmental Shops, Grocery & Films (As much as 7500 Reward Factors per 30 days)
- Earn 1 Reward level per 100 Rs. spent on different retail purchases (Besides Cell pockets add & Non BPCL gas spends).
- 25 Reward Factors on each Rs. 100 spent on Bharat Gasoline (As much as 500 Reward Factors per billing cycle)
- 4 Reward Level = Rs. 1
*6.25% by way of rewards on gas + 1% Gasoline surcharge waiver on each BPCL transaction as much as Rs. 4000 . |
IDFC FIRST Energy Plus Credit score Card:- As much as 6.5%* financial savings on gas spends
- 24 rewards on each Rs. 150 spent on HPCL gas & LPG (capped at most transaction worth Rs. 10,000 each month)
- 30 rewards on each Rs. 150 spent on Grocery & Utility spends (capped at most transaction worth of Rs. 2,000 each month)
- 30 rewards on each Rs. 150 spent on IDFC FIRST FASTag recharge (capped at most transaction worth of Rs. 1,000 each month)
- 6 Payback Rewards on each Rs. 100 spent at HP Pay App (capped at most transaction worth of Rs. 5,000 each month)
- 3 reward factors on each Rs. 150 spent on different retail transactions
- 3 Reward = Rs. 0.75
- 25% off on film tickets as much as Rs. 100, as soon as each month
*4% financial savings as Rewards on HPCL spends+1.5% financial savings by way of HP Pay App+ 1% financial savings as gas surcharge waiver on gas bills of as much as ₹20,000 each month |
IndianOil Axis Financial institution Credit score Card:- As much as 5% worth again on gas spends
- 20 reward factors on each Rs. 100 spent at IOCL gas pumps in India (eligible on transaction worth capped at Rs. 5,000)
- 5 reward factors on each Rs. 100 spent on on-line buying (eligible on transaction worth capped at Rs. 5,000)
- 1 reward level on each Rs. 100 spent on different retail transactions
- As much as 10% low cost on film ticket bookings by way of BookMyShow (as much as Rs. 100 per 30 days)
- As much as 15% off on eating (as much as Rs. 1,000 in a month)
*4% financial savings as rewards on IOCL gas pumps + 1% gas surcharge waiver in any respect gas stations in India, as much as Rs. 50 per 30 days. |
Estimated Month-to-month Financial savings at Co-branded Gasoline Spends
Let’s assume you spend Rs. 10,000 a month on gas at particular co-branded gas stations. You’ll earn the next advantages by way of the accelerated gas rewards supplied on these card, as follows:
BPCL SBI Card Octane | IDFC FIRST Energy+ Credit score Card | IndianOil Axis Financial institution Credit score Card | |
Reward class | 25 Reward Factors on each Rs. 100 | 24 Rewards on each Rs. 150 | 20 rewards on each Rs. 100 spent on transactions as much as Rs. 5,000 |
Spends on Gasoline | Rs. 10,000 | Rs. 10,000 | Rs. 10,000 |
Rewards earned on Rs. 10,000 | 2,500 reward factors | 1,600 reward factors | 1,050 reward factors
(as much as 1000 factors on 5,000+ 50 factors on remaining worth) |
Redemption worth | 1 reward level= Rs.0.25 | 1 reward level= Rs. 0.25 | 1 reward level= Rs. 0.20 |
Complete Worth again | Rs. 625 | Rs. 400 | Rs. 210 |
Based mostly on the above illustration, contemplating a month-to-month spend of Rs. 10,000 on gas, BPCL SBI Card Octane, clearly, provides the utmost worth again. Nevertheless, it’s also the utmost worth you possibly can earn on this card, due the reward level capping of two,500 reward factors in a billing cycle. This implies, in case you spend double the quantity illustrated, you’ll earn the identical worth again, attributable to a low reward capping.
IDFC FIRST HPCL Energy+ Card and IndianOil Axis Financial institution Credit score Card additionally restrict the reward earnings on gas transactions, however as an alternative of reward factors, the capping right here is finished on the utmost transaction worth, of Rs. 10,000 and Rs. 5,000, respectively.
With IDFC FIRST Card you don’t earn any reward worth on HPCL or non-HPCL transactions past Rs. 10,000. Nevertheless, for transactions as much as Rs. 20,000 you continue to earn a gas surcharge waiver of 1%, however solely on HPCL pumps.
However, with Indian Oil Axis Financial institution Credit score Card, you earn the accelerated rewards on transactions as much as Rs. 5,000, however for transactions past this worth, you atleast earn rewards on the bottom price. Thus, for any gas transaction past Rs. 5,000 you earn 1 reward on each Rs. 100, as an alternative of 5 rewards. Moreover, the gas surcharge waiver on this card is just not restricted to IndianOil pumps, however throughout all pumps in India.
Estimated month-to-month financial savings on all gas & non-fuel spends
Spend class | Spend worth | BPCL SBI Card Octane | IDFC FIRST Energy+ Credit score Card | IndianOil Axis Financial institution Credit score Card |
Gasoline spends at co-branded stations* | Rs. 4,000 | 250 | 160 | 160 |
Gasoline surcharge waiver profit | Rs. 40 | Rs. 40 | Rs. 40 | |
Gasoline spends at non-branded gas stations | Rs. 3,000 | – | – | 10 (by way of gas surcharge on all gas stations) |
Eating | Rs. 4,000 | Rs. 400 | 20 | 600 |
Grocery | Rs. 8,000 | Rs. 200 | 1600 | 56 |
Films | Rs. 1,000 | Rs. 25 | 100 | 100 |
Retail spends | Rs. 5,000 | Rs. 12.5 | 25 | 10 |
On-line buying | Rs. 5,000 | Rs. 12.5 | 25 | 50 |
Complete Spends/ financial savings | Rs. 30,000 |
Observe: The above talked about particulars are illustrated subjectively as per basic spending throughout a number of classes. Deriving most worth again relies upon upon your spending preferences. As an illustration, for IndianOil Axis Financial institution Credit score Card, we have now assumed grocery buying as accomplished ‘on-line’, to derive the utmost worth again, by way of 5x rewards for on-line buying. For offline grocery buying, the advantages might differ.
Based mostly on the above comparability, be aware that:
(i) BPCL SBI Card Octane provides the best worth again on gas, compared to the opposite two playing cards, that supply an equal return.
(ii) All three playing cards supply an equal quantity of gas surcharge waiver, of 1% of the transaction quantity. Whereas SBI BPCL Octane and IDFC FIRST Energy+ Credit score Card restrict the gas surcharge waiver throughout their co-branded gas stations, IndianOil Axis Financial institution Card provides it round ‘all’ gas stations in India. Thus, you earn the gas surcharge waiver profit even past non-partnered gas spends.
(iii) Not like the opposite two playing cards, IDFC FIRST Energy+ Credit score Card provides no eating privileges like rewards or reductions.Thus, the valueback is derived out of the fundamental reward construction of 3X rewards on each Rs. 150 spent.
Compared, SBI Card Octane provides accelerated rewards on eating with 10X rewards, whereas Axis IndianOil card provides as much as 15% direct low cost by way of the Eating Delights Programme. Based mostly on the worth again comparability, Axis Card provides the best worth again on Eating.
(iv) Each SBI BPL Card Octane and IDFC FIRST HPCL Energy+ Credit score Card, supply accelerated rewards on grocery buying, with 10 rewards on each Rs. 100 and 30 rewards on each Rs. 150 spent.
Indian Oil Axis Financial institution Credit score Card, alternatively can give you grocery advantages by way of 5X rewards supplied on on-line buying. As per the worth derived above, IDFC FIRST Financial institution HPCL clearly beats the opposite two, providing the best financial savings with a really enormous margin. BPCL SBI Octane additionally provides accelerated rewards on departmental shops, thus even while you don’t store your groceries on-line, it can save you a great quantity on on-line grocery buying with this card.
(v) Indian Oil Axis Financial institution Credit score Card & IDFC FIRST Energy+ supply direct reductions as much as 10% and 25% respectively on reserving film tickets. Nevertheless, even when the % differs, the utmost capping is similar at Rs. 100 per 30 days. Thus each supply equal profit.
SBI BPCL Octane, alternatively, provides 10 rewards on each Rs. 100, thus even at an honest rewards price for this catgeory, provides the least worth again comparatively.
(vi) Indian Oil Axis Financial institution Credit score Card additionally provides accelerated rewards on on-line buying, which different two playing cards don’t supply. For these two playing cards, on-line buying yields the identical advantages as another retail spend.
Characteristic Comparability for different Classes- Welcome Advantages, Lounge Entry & Extra
Welcome profit: All three playing cards come alongside welcome advantages as issued on card activation and cost of becoming a member of charge, as follows:
Bank card | Becoming a member of Price | Welcome Profit |
BPCL SBI Card Octane | Rs. 1,499 | 6000 bonus reward factors price Rs. 1,500 |
IDFC FIRST HPCL Energy+ Credit score Card | Rs. 499 |
|
IndianOil Axis Financial institution Credit score Card | Rs. 500 | 100% cashback as much as Rs. 250 on first gas transactions accomplished inside 30 days of card issuance |
Welcome Profit: IDFC FIRST HPCL Energy+ Credit score Card > BPCL SBI Card Octane > Indian Oil Axis Financial institution Credit score Card.
Whereas BPCL SBI Credit score Card provides a profit equal to the charge charged, IDFC FIRST Energy+ surpasses the charge charged, by an enormous margin. Apart from, the activation advantages supplied on this should not restricted to gas, however throughout retail transactions, on-line meals ordering, and so on. Comparatively, IndianOil Axis Card provides the bottom worth again on card activation profit. Nevertheless, if regarded upon as a person contemplating a low annual charge of Rs. 500, the profit is respectable.
Waiver situation: The waiver charge situation on these playing cards is as follows:
- BPCL SBI Card Octane: Annual fee- Rs. 1,499 | Waived off on annual spends of Rs. 2 Lakh
- IDFC FIRST Energy+ Credit score Card: Annual fee- Rs. 499 | Waived off on annual spends of Rs. 1.5 Lakh
- IndianOil Axis Financial institution Credit score Card: Annual fee- Rs. 500 | Waived off on annual spends of Rs. 50,000
Amongst these, Axis Financial institution IndianOil Credit score Card, comes with a lowest annual charge waiver situation. Preserving in view the respectable advantages, significantly accelerated reward round gas and on-line buying, the spend goal is straightforward to satisfy. Thus, even while you spend round Rs. 4,200 a month, you possibly can meet this waiver.
Milestone profit: Contemplating a low charge, no milestone advantages supplied on IDFC FIRST Energy+ Credit score Card and IndianOil Axis Financial institution Credit score Card, is justified. Nevertheless, the SBI BPCL Bank card comes with a milestone profit, price Rs 2,000, on annual spends of Rs. 3 Lakh. You possibly can select an e-Reward Voucher price Rs 2,000 from Aditya Birla Trend Or Yatra Or Bata/Hush Puppies. Apart from, in case you take into account the annual charge waiver situation (on spending Rs. 2 Lakh), you get a complete advantage of Rs. 3,500 on spending Rs. 3 Lakh in a 12 months.
Lounge Entry: BPCL SBI Card Octane and IDFC FIRST HPCL Energy+ Credit score Card, each supply home lounge entry, of 1 go to per quarter. Compared, Indian Oil Axis Financial institution Credit score Card, provides no journey advantages per say.
Complimentary Insurance coverage covers: The cardboard comes with the next insurance coverage covers:
- Indian Oil Axis Financial institution Credit score Card: Nil
- BPCL SBI Credit score Card: Complimentary Fraud Legal responsibility Cowl
- IDFC FIRST HPCL Energy+ Credit score Card: Complimentary Roadside Help price Rs. 1,399, Private Accident Cowl of Rs. 2 Lakh and Misplaced Card Legal responsibility Cowl of Rs. 25,000
Class | BPCL SBI Card Octane | IDFC FIRST HPCL Energy+ Credit score Card | IndianOil Axis Financial institution Credit score Card |
Co-branded Gasoline | ✓ | ✓ | ✓ |
Non-branded gas advantages | – | – | ✓ |
Films | ✓ | ✓ | ✓ |
Eating | ✓ | – | ✓ |
Lounge Entry | ✓ | ✓ | – |
Grocery | ✓ | ✓ | ✓ |
Buying | ✓ | ✓ | ✓ |
Utility Payments | – | ✓ | – |
Which Card Must you Get?
You possibly can take into account getting a card of your alternative as per the next:
Take into account BPCL SBI Card Octane:
- When you choose visiting BPCL petrol pumps for gas
- When you choose utilizing Bharat Gasoline at dwelling
- You employ your bank card for grocery buying
- You store majorly at departmental shops
- You ceaselessly dine out and go for motion pictures
- 1 lounge entry go to in 1 / 4 is adequate for you
- You might be snug with the fundamental rewards provides on retail spends
- Paying an annual charge of Rs. 1,499 appears inexpensive to you
- It is possible for you to to spend round Rs. 3 Lakh a 12 months (round Rs. 25,000 a month) , to avail the milestone profit
Take into account IDFC FIRST Financial institution HPCL Energy+ Credit score Card
- You might be searching for a low annual charge gas bank card
- If HPCL is your most popular gas outlet
- You possibly can make the most of the reward profit on HPCL LPG
- You possibly can change to HP Pay App for funds
- You go for motion pictures as soon as a month, so are okay with the utmost advantage of Rs. 100 supplied
- 1 lounge entry in 1 / 4, is sufficient for you
- You spend loads on grocery utilizing your bank card
- You need card with accelerated rewards on utility invoice funds & FASTag recharge
- You desire a respectable reward price on different retail transactions
- You possibly can spend round Rs. 1.5 Lakh in a 12 months to avail the annual charge waiver
Take into account IndianOil Axis Financial institution Credit score Card:
- You’re a newbie who desires a low upkeep card
- You desire a low annual charge gas bank card
- You principally go to IndianOil gas pumps for gas visits
- You don’t’ thoughts visiting different gas pumps occasionally
- You go for motion pictures occasionally
- You ceaselessly dine out
- You might be snug with no lounge entry supply don the cardboard
- You majorly store on-line
- You possibly can change to buy groceries on-line, as an alternative of on-line
- You’re a not a excessive spender, and might spend as much as Rs. 50,000 in a 12 months to satisfy the charge waiver
General % Valueback Calculation on these Credit score Playing cards
BPCL SBI Card Octane | IDFC FIRST HPCL Energy+ Credit score Card | IndianOil Axis Financial institution Credit score Card | |
Reward on co-branded gas outlet | 25 rewards on each Rs. 100 spent at BPCL Gasoline, Lubricants & Bharat Gasoline |
|
20 rewards on each Rs. 100 spent at IOCL pumps |
Worth of 1 reward level | Rs. 0.25 | Rs. 0.25 | Rs. 0.2 |
% Worth again on co-branded gas transaction | 25*0.25= 6.25% | 4% (by way of HPCL gas spends) +1.5% (by way of HP Pay App)= 5.5% | 20*0.2=4% |
Gasoline surcharge waiver | 1% | 1% | 1% |
Complete worth again | (6.25+1)% = 7.25% | (5.5+1)% = 6.5% | (4+1)% = 5% |
The submit Examine: BPCL SBI Octane Vs. IDFC FIRST HPCL Energy+ Vs. Indian Oil Axis Financial institution Credit score Playing cards appeared first on Examine & Apply Loans & Credit score Playing cards in India- Paisabazaar.com.
[ad_2]
Source link