Equitas PowerMiles Secured
KeepA 2% forex card you can hold against a fixed deposit — and Equitas never put it on a shelf.
a year at ₹40,000 a month, after the fee
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Priced on the everyday mix — 30% groceries · 10% utilities · 20% travel · 6% fuel · 34% everything else — with this card's published category rules applied. Plus milestones, minus the fee. No accelerator credit — the ranking model on /compare adds ~20% of spend at the card's best accelerator, so its ₹ for this card reads higher.
How these numbers are computed — and why the rankings show a bigger one →
Spend tiers, milestones and fee waivers included, at our house ₹/point. Portal and category multipliers can push higher — run your exact number →
Pays for itself at ₹28,000 a month
At ₹28,000 a month — ₹3,36,000 a year — on the everyday mix this card returns ₹5,000 gross (earn ₹5,000) against its ₹5,000 fee = ₹0 net — the first rung at or above ₹0. The ladder runs in ₹1,000 steps to ₹1,00,000 a month and ₹10,000 steps to ₹5,00,000; figures are rounded to the hundred, and the accelerator is never credited.
2 notes on the card itself: how it is issued · why it ranks #515
Why #515 A 2% forex mark-up against India's 3.5% norm, reachable on a fixed deposit, is genuinely rare — and Equitas publishes no product page for it, every secured-variant URL 404s, and there is no apply route outside a branch. The earn model prices 3 points per ₹100 at ₹0.50 and comes out rich; the reader gets ₹5,000 plus GST every year with no published waiver, no lounge access, no cash limit and a 1:1 airline transfer that is stamped for September 2026 and is not live. A card called PowerMiles that produces no miles does not rank on the miles it might one day pay.
The take
PowerMiles Secured is the most interesting card Equitas does not advertise. It appears nowhere on the bank's consumer shelf — that page markets Tiga, Selfe and PowerMiles, and every secured-variant URL 404s — but it has its own row in the MITC's fee table, its own row in the Key Fact Statement, and its own naming inside the feature and rewards clauses. It is the PowerMiles product, arranged against a fixed deposit. The reason a travel reader should care is one footnote. Equitas' MITC prints a 3.50% foreign transaction mark-up for its cards and then adds, verbatim: "Forex markup for PowerMiles/PowerMiles Secured Credit Card is 2%". That is a real 1.5-point discount to India's norm, and it is the only Equitas card besides its unsecured twin that carries it — which makes this, as far as this desk can tell, the only fixed-deposit-backed card in India with a materially sub-norm forex rate. If a damaged bureau file is what stands between you and a travel card, that is worth knowing. The rest is the PowerMiles deal. Three reward points per ₹100, tripled on international POS on a stated best-effort basis, redeemable at ₹0.50 on travel and vouchers or ₹0.25 as cashback, with three-year validity that the MITC grants to the PowerMiles pair by name. The 1:1 airline and hotel conversion Equitas has stamped "from Sep'26" is not live, so a card called PowerMiles still produces no miles. Two things to price in before you take it. The cash limit is zero — the Key Fact Statement names all three Secured variants in the footnote that says so — so there is no ATM access at all. And Equitas publishes no fee waiver for this variant: the ₹1,20,000 first-year reversal and the ₹4,80,000 renewal waiver both belong to the unsecured card's product page, so budget ₹5,000 + GST every year against your own deposit.
Your renewal — keep, downgrade or cancel
Here is the fee, the spend that clears it, and everything that has moved under this card since you last decided.
Keep, downgrade or cancel
₹5,000/yr at stake · 5 spend bands
The charge ₹5,000/yr
Break-even ₹28,000 a month — ₹3,36,000 a year — is where this card's value crosses its fee.
At your spend
−₹500 a year, net of the fee, at ₹3,00,000 of annual spend
₹4,000 a year, net of the fee, at ₹6,00,000 of annual spend
₹13,000 a year, net of the fee, at ₹12,00,000 of annual spend
₹49,000 a year, net of the fee, at ₹36,00,000 of annual spend
₹85,000 a year, net of the fee, at ₹60,00,000 of annual spend
Everyday earn plus milestones, minus the fee — the same model as the value panel above, so the two cannot disagree. run your exact spend →
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
The downgrade
Equitas Small Finance Bank publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and the numbers above are the whole of it.
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- 2% foreign transaction mark-up, against India's 3.50% norm — the MITC's footnote gives it to the PowerMiles pair and to nothing else Equitas issues
- Backed by a fixed deposit, so the 2% forex is reachable on a thin or damaged bureau file
- 3 reward points/₹100, tripled on international POS spend on a best-effort MCC basis
- Three-year point validity — the MITC writes the exception for 'PowerMiles/PowerMiles Secured' by name, a year longer than the rest of the range
- Complimentary luxury memberships on the same terms as the unsecured card, per the shared feature row
- Fuel surcharge waived at 1% on ₹500–₹3,000 transactions, up to ₹450 a month and ₹5,400 a year
Watch out
- ₹5,000 + GST a year with NO published waiver for this variant — the ₹1.2L reversal and ₹4.8L renewal waiver belong to the unsecured PowerMiles' product page, not to this card
- The cash limit is zero: the Key Fact Statement states it for Tiga Secured, Selfe Secured and PowerMiles Secured, so there is no ATM cash at all
- The 1:1 airline and hotel transfer programme is not live — until it is, points cap at ₹0.50 on travel and ₹0.25 as cashback
- No lounge access is published for this card — the word 'lounge' appears in neither the MITC nor the Key Fact Statement
- Interest is 3.75% a month (45% a year); over-limit is 2.5% with a ₹550 floor
- ₹99 per redemption request with a 500-point minimum, and the whole balance is wiped after 365 days of card inactivity
- A replacement metal card costs ₹3,500, and an add-on metal card another ₹3,500
- Rent, wallet loads, EMI, fuel, cash advances and government spend earn nothing
- Equitas publishes no product page for this card — no benefits list, no eligibility figures, no apply route
What these points actually fly
No live transfer route takes Equitas PowerMiles Points into a programme that publishes an award chart. These points buy catalogue and portal redemptions, not award seats — so this page has no flight to show you, and will not invent one.
what the cards that DO reach a chart can fly — 2,196 corridors priced →
Lounge access
0 of 793 tracked doors
No lounge access. This card opens exactly 0 of 793 tracked lounge doors — board with the crowd, or find a card that doesn't →
Can you get it?
the route in — no cutoffs published
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Direct application — no invite list, no banking relationship required.
Not on Equitas' consumer shelf, which markets Tiga, Selfe and PowerMiles only; every secured-variant product URL returns 404. The Secured line is arranged against a fixed deposit, so the route is a branch or an existing deposit relationship. Equitas publishes no income figure for it — the unsecured PowerMiles' ₹18,00,000-and-above band is that card's criterion and does not transfer. Every Equitas card sits on the bank-wide five-tier Privilege Program (Blue by default, Silver at ₹20,000 a month, Gold ₹40,000, Platinum ₹60,000, Diamond ₹1,00,000, each sustained three consecutive months in a calendar quarter), re-scored quarterly.
Equitas Small Finance Bank publishes no income or age cutoffs for this card. Blank means blank — we don't invent numbers to fill a grid.
per the official Equitas Small Finance Bank MITC — figures marked (community) aren't in the PDF; the issuer won't say · filter the board by what you can get →
The fine print
7 of 7 MITC rows published
What the MITC actually says — the rates, fees and cutoffs the brochure skips.
Unadvertised: the MITC and Key Fact Statement are the only documents that mention it, and both print "PowerMiles Secured ₹5,000 ₹5,000" — one fee under two names (§61). No spend waiver is published for the Secured variant, so the ₹1.2L first-year reversal and ₹4.8L renewal waiver on the unsecured card's product page do NOT apply. Reward points are valid 3 years, an exception the MITC grants to "PowerMiles/PowerMiles Secured" by name. Fuel surcharge waived 1% on ₹500–₹3,000, capped ₹450/month and ₹5,400/year. The word "lounge" appears in neither document, so no quota is claimed.
per the official Equitas Small Finance Bank MITC · reviewed 10 Jul 2026
What's changed for this card
nothing tracked yet — which is itself a fact
No tracked devaluations or changes yet — this card's history starts here.
Verified against Equitas Small Finance Bank's own documents on · the net-annual-value engine, at our house ₹/point
Every document behind this page — 3 of them, each with the day we read it
- official Equitas MITC v1.3 — the six-variant fee table (PowerMiles Secured ₹5,000), the 2% forex footnote naming the PowerMiles pair, and the shared feature and rewards clauses
- official Equitas Key Fact Statement — the same ₹5,000 PowerMiles Secured fee, and the zero cash limit that applies to every Secured variant
- official Equitas' credit-card shelf — it markets Tiga, Selfe and PowerMiles only, which is why this card has no product page to cite