Credit Card Points Value — All Indian Banks
What are your reward points actually worth in rupees? We track redemption values across all major Indian banks and update monthly. Stop redeeming for catalog items — you're leaving money on the table.
HDFC Bank
HDFC Reward Points
India's largest credit card issuer. HDFC Reward Points are among the most versatile in India with strong transfer partners for travel redemptions.
Axis Bank
Axis EDGE Reward Points
Axis EDGE points have been restructured multiple times. Currently offer decent value through travel portal and transfer partners, but watch for devaluation announcements. Valuations last verified May 2026 — check back monthly as Axis has a history of changing transfer ratios and portal pricing without notice.
ICICI Bank
ICICI Reward Points
ICICI reward points offer moderate value. The Amazon Pay ICICI card bypasses points entirely with direct cashback, making it the standout in their portfolio.
SBI Card
SBI Reward Points
SBI Reward Points have more limited redemption options compared to HDFC and Axis. Best redeemed as statement credit or Amazon vouchers.
American Express
Amex Membership Rewards (MR) Points
Amex MR points are among the most valuable reward currencies in India thanks to excellent airline and hotel transfer partners. The gold standard for premium travel redemptions.
IDFC FIRST Bank
IDFC FIRST Reward Points
IDFC FIRST Reward Points have limited redemption options and lower per-point value than major banks. Best redeemed as statement credit. The value proposition is the lifetime-free card, not the points program.
Yes Bank
Yes Rewardz Points
Yes Rewardz Points offer moderate value. Yes Bank has been rebuilding its credit card portfolio after its restructuring, with competitive offerings in the premium segment.
Kotak Mahindra Bank
Kotak Reward Points
Kotak Reward Points have limited but improving redemption options. The bank's 811 ecosystem makes their free cards attractive for digital-first users.
IndusInd Bank
IndusInd Reward Points
IndusInd has quietly built one of India's better reward programs, especially with British Airways Avios transfer on the Legend card. Worth a look for travel enthusiasts.
AU Small Finance Bank
AU Reward Points
AU Small Finance Bank's credit card program is new but growing. The LIT card's customizable rewards are unique in the Indian market, though point values are below major banks.