HDFC Bank Business Corporate Regalia
KeepA 2% forex markup — the lowest HDFC charges on any commercial card.
no published fee to price it against
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Not valued. We can't value this card until the issuer publishes a fee — every net-value number here would be wrong by exactly the fee we can't find. Everything we can source — the earn rate, the transfer routes, the lounge doors — is above and stands on its own; this card is simply not on the board, not in the calculator, and cannot win a best-of call until HDFC Bank publishes a fee schedule we can cite.
Why we decline to value some cards, and what it takes to change that →
2 notes on the card itself: how it is issued · why it ranks #435
Why #435 A business card carried, not ranked. What it is: the Regalia earn table on a corporate rail — four Reward Points per ₹150 at a published ₹0.30, eight lounge visits a year, and the lowest forex markup HDFC charges anywhere in its commercial book at 2%. The price is unpublished.
The same published corporate rate the rest of HDFC's commercial book uses: "1 Reward Point = INR 0.30 when redeemed on offers.smartbuy.hdfcbank.com/corporate", against airline tickets, hotel bookings and a redemption catalogue. Airmiles conversion is offered but unpriced, and HDFC warns that "Frequent flyer registration is needed before attempting Airmiles redemption in NetBanking". Points last two years and every redemption costs ₹99.
The take
Business Corporate Regalia is the Regalia earn table wired to a corporate account, and the reason to notice it is not the rewards. Four Reward Points per ₹150 at HDFC's published thirty paise is 0.8% — respectable, below the full 1% Corporate Premium pays — but the forex markup is 2%, and that is the lowest number anywhere in HDFC's commercial schedule of charges, where Corporate Platinum pays 3.5% and Corporate Premium 2.5%. On a company's international travel spend that gap is worth more than the points. Around it sits the usual corporate frame: eight lounge visits a year, ₹1 crore of insurance cover, and employee-fraud protection written at ₹2 lakh a card and ₹25 lakh across the company. Two cautions. HDFC's page still advertises a complimentary Club Vistara Silver membership, and Vistara stopped flying in November 2024 — that benefit is a page HDFC has not updated, not a thing you will receive, and the desk does not price it. And the price of the card itself is unpublished: the fees document behind the page is a scan with no text in it, and the corporate MITC says fees vary per cardmember. Do not confuse this with the ₹2,500 Business Regalia in HDFC's MSME namespace — different document, different namespace, different forex.
Your renewal — keep, downgrade or cancel
There is no renewal arithmetic to run on this card yet — and a break-even we cannot source is not one we will print.
the whole desk — what changed, the downgrade, and what we cannot price →
Keep, downgrade or cancel
what we can and cannot price
Not valued. We can't value this card until the issuer publishes a fee — every net-value number here would be wrong by exactly the fee we can't find. A break-even is the spend at which value crosses a fee, and we are short one side of that sentence — so this desk prints no ladder, no crossing and no ₹0 standing in for either. What we can source about this card is under Sources.
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
HDFC 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 we cannot price either side of it.
What has changed under this card
- 23 Sep 2026 Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and Hilton a program these points reach
- 15 Sep 2026 Wyndham splits its three flat free-night tiers into four a program these points reach
- 8 Sep 2026 Flying Blue splits award tickets into Light / Standard / Flex — a 25% rise for the same product a program these points reach
We price what is in force today — a change that has not happened yet is not in these numbers. the full archive for this card →
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% forex markup — the lowest HDFC charges on any card in its commercial book
- 4 Reward Points per ₹150 — 0.8% at HDFC's published ₹0.30 corporate redemption rate
- 8 complimentary airport lounge visits a year
- ₹1 crore of insurance cover, plus employee-fraud protection at ₹2 lakh per card and ₹25 lakh corporate-wide
- Up to 50 days of interest-free credit on purchases
Watch out
- The Club Vistara Silver membership HDFC still advertises is dead — Vistara stopped flying in November 2024 and merged into Air India. The page is stale; the desk prices nothing for it
- The fee is unpublished — the linked fees document is an image scan with no text, and the corporate MITC says fees "may vary for each Cardmember, and from offer to offer"
- HDFC's own page contradicts itself on lounges: the benefits panel says "8 complimentary airport lounge accesses per year", the FAQ says eight domestic AND six international
- Not the ₹2,500 Business Regalia — that is a different card in HDFC's MSME namespace, on a different MITC, at a 3.5% forex markup
- Fuel earns nothing, and rent carries a 1% fee capped at ₹3,000 a transaction
- Every redemption costs ₹99, and points lapse after two years
What these points actually fly
HDFC Reward Points move to Avianca LifeMiles , Air France-KLM Flying Blue , Etihad Guest , United MileagePlus , Air India Maharaja Points , AirAsia Rewards , SpiceJet SpiceClub , Accor Live Limitless (ALL) , Marriott Bonvoy , Club ITC , IHG One Rewards , Radisson Rewards and Wyndham Rewards — and those price every award dynamically. There is no published chart to quote, so we quote nothing: an estimate is not a seat.
what the cards that DO reach a chart can fly — 2,196 corridors priced →
Lounge access
728 of 793 tracked doors
Opens 728 of 793 tracked lounge doors across 291 airports , via Priority Pass India, Priority Pass Global — see the full map →
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.
HDFC Bank publishes no income or age cutoffs for this card. Blank means blank — we don't invent numbers to fill a grid.
no MITC row researched for this card yet · filter the board by what you can get →
What's changed for this card
8 dated changes
Devaluations and buffs that touch this card directly, its issuer, or the points and programs it earns and transfers to. Every one is dated here; the tracker carries each one's before → after and the write-up.
- 23 Sept 2026Axis EDGE brings Accor back, drops ITC, and adds Cathay, Miles & More and HiltonAccor and Marriott off the grid since 2 April 2026; Club ITC live; no Cathay, Miles & More or Hilton → Accor live at the punished rates; ITC removed; Cathay, Hilton and Miles & More live; Marriott still gone
Axis's own Travel EDGE terms, re-read 25 September 2026, already show the grid that went live on 23 September. Accor ALL is back, and not at the old Atlas 1:2: EDGE Miles convert at 2:1 (Olympus 1:2) and EDGE Rewards at 5:1, with Magnus for Burgundy at 5:2 and only Burgundy Private still at 5:4. Club ITC is off the table. Three partners are new. Cathay Asia Miles sits on that same punished grid. Hilton Honors is the ordinary one: EDGE Miles 1:2, EDGE Rewards 5:2, Burgundy 5:4. Lufthansa Miles & More is the exception on Atlas, which converts 1:1 there while every other standard airline on that card is 1:2; the EDGE Rewards side of Miles & More is the ordinary 5:2. Marriott stays removed. Qatar Privilege Club was already back. Flying Blue, Air India and Qantas moved into Group A, which is the capped group. The Axis Rewards credit card's Amex network is advertised as joining-fee and annual-fee nil for a limited period; there is no separate Amex variant on this board, so that offer is not modelled as a fee change.
- 15 Sept 2026Wyndham splits its three flat free-night tiers into four
- 8 Sept 2026Flying Blue splits award tickets into Light / Standard / Flex — a 25% rise for the same product
- 1 Sept 2026SmartBuy moves Amazon Pay gift cards to 1X under Insta Deals
- 25 Aug 2026Vietnam Airlines Lotusmiles opens a broad SkyTeam status match — up to Elite Plus
- 21 Aug 2026Club ITC pays up to 50,000 bonus Green Points for spreading 10 nights across all five brands
- 20 Aug 2026IHG Hotels & Resorts becomes a Maharaja Club earning and conversion partner
- 18 Aug 2026Amex India re-rates Virgin Atlantic upward — 2:1 becomes 5:4, the first MR buff in years
Every HDFC Bank change we've dated → 37 events since 2001, 23 of them nerfs — worst year 2026.
Verified against HDFC Bank's own documents on
Not published , and we will not invent it: the annual fee.
Every document behind this page — 2 of them, each with the day we read it
- official Business Corporate Regalia product page — the 4-per-₹150 earn, the published ₹0.30 redemption rate, the eight annual lounge visits and the insurance schedule
- official HDFC's Corporate Credit Card MITC and Schedule of Charges, Version 1.54 — it sets this card's forex markup at 2%, the lowest in the commercial book, and states the fee varies