Fuel credit cards have gained immense popularity among consumers, offering rewards and benefits specifically for fuel purchases. In response to this trend, banks are focusing on fuel debit cards. These cards meet your daily spending needs and offer special benefits for fuel transactions.
State Bank of India has taken an important step in this direction by introducing two fuel debit cards: the SBI IOCL RuPay Global Debit Card and the SBI IOCL RuPay Platinum Debit Card. The Global variant allows daily cash withdrawals of up to ₹40,000 and offers a daily spending limit of ₹75,000. On the other hand, the Platinum card serves those who frequently make high-value purchases, with a transaction limit of ₹2 lakh.
SBI’s co-branded debit cards make fuel purchases easier and help users earn Reward Points on every eligible transaction. Whether you are at an IOCL station or buying daily necessities, these debit cards make your spending more rewarding.
SBI IOCL RuPay Global Debit Card
The SBI IOCL RuPay Global Debit Card does not come with any joining fee. It offers rewards on fuel and everyday shopping, and is easily accessible to potential cardholders.
- Daily Cash Withdrawal Limit: Users can withdraw a minimum of ₹100 and a maximum of ₹40,000 per day at ATMs.
- Daily PoS/Online Transaction Limit: There are no minimum transaction restrictions, and users can spend up to ₹75,000 daily at PoS terminals or online.
- Issuance Charges: There are no issuance charges for the Global variant.
- Annual Maintenance Charges: An annual fee of ₹125 plus taxes is applicable.
SBI IOCL RuPay Platinum Debit Card
The SBI IOCL RuPay Platinum Debit Card has a joining fee of ₹300 and allows daily cash withdrawals of up to ₹40,000. It’s designed for users who make high-value purchases, providing a maximum transaction limit of ₹2 lakh for added ease during shopping or fuel purchases.
- Daily Cash Withdrawal Limit: Like the Global variant, the Platinum card allows users to withdraw between ₹100 and ₹40,000 daily.
- Daily PoS/Online Transaction Limit: This card offers a maximum transaction limit of ₹2 lakh, perfect for high-value purchases.
- Issuance Charges: Customers must pay issuance charges of ₹300 plus applicable taxes.
- Annual Maintenance Charges: The Platinum card has a higher annual fee of ₹250 plus taxes.
Features of SBI IOCL RuPay Co-Branded Debit Cards
Reward Points
Both the SBI IOCL RuPay Debit Cards allow users to earn Reward Points on every eligible transaction. Users earn 6 Reward Points for every ₹200 spent on fuel transactions at IOCL stations and 2 Reward Points for every ₹200 spent online or in-store, on shopping, dining out, fuel, travel, etc. The value of 1 Reward Point is ₹0.25, which can be redeemed for vouchers, recharges, and other benefits through the SBI Rewardz website, SBI REWARDZ App, Yono App, and RINB. Users can earn up to 10,000 SBI Reward Points each month, with a limit of ₹1,000 for each transaction.
Birthday Rewards
SBI IOCL Debit Cardholders enjoy double Reward Points during their birthday month for all the transactions they make. Be it fuel transactions, online shopping, or dining out, users will get 2X Reward Points.
Milestone Benefits
If the cardholders spent ₹1 lakh or more in the previous year, they will receive 1,000 Reward Points in the next financial year.
Card Activation Perks
Users receive activation bonuses with the SBI IOCL Co-Branded Debit Cards. Cardholders will earn 300 bonus Reward Points on making three payments within two months of card issuance, with a minimum amount of ₹2,000 either online or offline.
Points on International Transactions
On making international transactions with your SBI IOCL RuPay Debit Card, users will receive 2X Reward Points for both online and offline purchases.
Contactless Payments
Both cards come with a contactless payment feature, making transactions quicker and hassle-free. This feature is particularly beneficial for crowded retail places.
Bottom Line
SBI IOCL debit cards are a great option for anyone who wants to save money on fuel and everyday expenses. As fuel debit cards continue to gain popularity among consumers, they offer rewards and benefits to frequent fuel users. With attractive features like increased Reward Points, birthday bonuses, and contactless payment options, these cards make spending more rewarding. If you need to refuel your vehicle or buy everyday items, the SBI IOCL debit cards are the perfect choice for you. Using these cards can save you money and make your daily transactions more rewarding.
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