IndusInd Vrddhi Business
Keep1.89% abroad, three lounge visits a quarter, and four points per ₹100 on international spend.
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
Welcome: Vouchagram voucher worth ₹10,000 — payable only once the joining fee is paid
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 — and a business card's accelerator is usually the point. This card is not on the board, which ranks personal cards only; it is ranked against other business cards on /best/business, where the tax, GST and vendor-payment rungs ARE credited and its ₹ 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 →
Breaks even only by erasing its fee at ₹9,000 a month
At ₹9,000 a month — ₹1,08,000 a year — on the everyday mix this card returns ₹1,700 gross (earn ₹1,700) against a fee of ₹0 — the ₹4,999 is waived, the spend having cleared ₹1,00,000 a year = ₹1,700 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.
3 notes on the card itself: how it is issued · the network variants · why it ranks #500
Why #500 A business card carried, not ranked. What it is: the top of IndusInd's small-business shelf — three lounge visits a quarter, two points a hundred rupees doubling abroad, and a 1.89% forex markup that is genuinely half the Indian norm.
IndusInd prices its reward points card by card, and this one is absent from the table. The bank's own "Important Updates — Reward Points Cash Redemption" page lists revised non-cash and cash rates for eight products (Iconia Amex and Visa, Legend and Signature at ₹0.75/₹0.50; Platinum Visa, Platinum Master and Platinum Select at ₹0.60/₹0.40; Platinum Aura at ₹0.35), and neither business card appears on it. So there is no published haircut to bake in and the points are carried at IndusInd's ₹0.80 house value — the optimistic end. Check what your points actually redeem for before treating 1.60% as the number.
Best real exit: Singapore Airlines KrisFlyer at ₹0.28/pt (4:1 transfer).
The take
Vrddhi is the top of a business shelf most people do not know IndusInd has, and the number that makes it interesting is not the earn rate — it is the forex markup. Its MITC prints 1.89%, against the 3.5% that Indian cards charge as a matter of course and that IndusInd itself charges on the Saarthi rung below. On a business importing, subscribing to foreign software or buying ads in dollars, that 1.6-point gap is worth more than the whole rewards programme. Layer the doubled international earn on top — four reward points per ₹100 abroad against two at home — and this is a card built for cross-border spend and priced accordingly: ₹10,000 to join, ₹4,999 a year. Both are waivable, and the annual waiver is oddly generous, because IndusInd set the same ₹1 lakh previous-year threshold it uses on the ₹1,499 Saarthi. The lounge quota is three a quarter, and it comes with the same documentary problem as its sibling: the Rewards panel says three, while the Visa Domestic Airport Lounge Access terms on the same page say "one domestic airport lounge access in a quarter". The lounge map carries the terms' figure. Interest is 1.99% a month, 23.88% a year — the lowest on IndusInd's business and commercial book — with a 45-day interest-free period, and there is no cash limit at all, which is what IndusInd means by a business card. The welcome is a ₹10,000 Vouchagram voucher, which returns the joining fee in kind if the brand list happens to contain something you buy.
Your renewal — keep, downgrade or cancel
This card reaches break-even by ERASING its fee, not by out-earning it: the waiver is the decision.
Keep, downgrade or cancel
₹4,999/yr at stake · 5 spend bands
The charge ₹10,000 joining, then ₹4,999/yr
The waiver ₹1,00,000 of spend in the year before renewal — about ₹8,333 a month — and the renewal fee is not charged.
Break-even ₹9,000 a month — ₹1,08,000 a year — is where this card's value crosses its fee, and it gets there by erasing the fee at the waiver rather than out-earning it.
At your spend
₹4,800 a year, net of the fee, at ₹3,00,000 of annual spend — this clears the waiver, so no fee is charged
₹9,600 a year, net of the fee, at ₹6,00,000 of annual spend — this clears the waiver, so no fee is charged
₹19,200 a year, net of the fee, at ₹12,00,000 of annual spend — this clears the waiver, so no fee is charged
₹57,600 a year, net of the fee, at ₹36,00,000 of annual spend — this clears the waiver, so no fee is charged
₹96,000 a year, net of the fee, at ₹60,00,000 of annual spend — this clears the waiver, so no fee is charged
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
IndusInd 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.
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
- 25 Aug 2026 Vietnam Airlines Lotusmiles opens a broad SkyTeam status match — up to Elite Plus a program these points reach
- 20 Aug 2026 IHG Hotels & Resorts becomes a Maharaja Club earning and conversion partner 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
- 1.89% foreign-currency markup — roughly half India's 3.5% norm, and the reason to hold this card
- 4 Reward Points per ₹100 on international transactions, against 2 domestically
- Joining fee waived outright on ₹4 lakh of spend within 90 days of card setup
- Annual fee waived on ₹1 lakh of spend in the previous year — the same threshold IndusInd sets on its ₹1,499 entry rung
- 1,000 Reward Points for paying six utility bills in the first six months, and 100 for paying the bill early
- A ₹10,000 Vouchagram welcome voucher once the joining fee is paid
- 1.99% a month / 23.88% a year — the lowest interest rate IndusInd publishes on a business or commercial card
Watch out
- The lounge quota is published twice and differently — "3 per quarter" in the Rewards panel, "one domestic airport lounge access in a quarter" in the same page's Visa lounge terms
- The fuel-surcharge band is published twice and differently too — ₹500–₹10,000 on the page, ₹400–₹4,000 in the MITC
- Priority Pass visits are charged up to US$27 per person per visit — there is no free international quota
- IndusInd publishes no redemption rate for this card, so what a Reward Point is worth here is unstated
- Processing fee of up to 1% of the sanctioned credit limit
- No cash limit at all — IndusInd's business cards do not do cash advances
What these points actually fly
You hold this — the numbers below are your own points.
These points feed 21 programmes that publish an award chart. Cheapest verified seat per cabin, priced in YOUR points with this card's own ratio already applied:
- Delhi → Singapore Economy 76,000 IndusInd Reward Points via Singapore Airlines KrisFlyer at 4:1 the play
- Bengaluru → Singapore Business 180,000 IndusInd Reward Points via Singapore Airlines KrisFlyer at 4:1
- Mumbai → Delhi First 320,000 IndusInd Reward Points via Air Canada Aeroplan at 12.8:1 (through Singapore Airlines KrisFlyer → Marriott Bonvoy) the play
Does your spend count toward the fee waiver?
not published — and we say which
₹1,00,000 a year is the bar that waives the ₹4,999 fee. A different question from the one above — earning points and counting toward a threshold are separate rules, and issuers write them separately.
Not published. IndusInd Bank states what the IndusInd Vrddhi Business earns, but has not published which spend categories count toward the fee waiver — the ₹1,00,000 bar. We won't guess it from the earn table or from a sibling card: Axis published three cards' rules on one day and all three lists differed. If you hold this card and have it in writing from the issuer, send us the document and we'll source it.
Where the miles go
1 program
Ratios read card points : partner miles — 2:1 means 2 points become 1 mile. Never the other way round.
every IndusInd Bank route, side by side → · the IndusInd Reward Points hub →
Lounge access
72 of 793 tracked doors
Opens 72 of 793 tracked lounge doors across 40 airports , via Visa — 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.
Through IndusInd's business-cards desk rather than a normal application — the product page gives an email (corporate.cards@indusind.com) and the phone-banking line as the only two routes. No turnover, vintage or income cutoff is published.
IndusInd 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.
- 25 Aug 2026Vietnam Airlines Lotusmiles opens a broad SkyTeam status match — up to Elite Plus
- 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
- 6 Aug 2026MaxCoins' full transfer catalogue surfaces — Accor at 2:1 re-prices the coin to ₹1.08
- 3 Aug 2026SBI drops Etihad Guest from the MILES transfer table — the last SBI door into the programme
- 2 Aug 2026Flipkart SuperCoins into Maharaja Club improve to 2:1
- 26 Jul 2026Air India's quiet network retreat: Tokyo moves, Paris and San Francisco go, Malé pauses
Every IndusInd Bank change we've dated → 10 events since 2016, 8 of them nerfs — worst year 2025.
Verified against IndusInd Bank's own documents on · the net-annual-value engine, at our house ₹/point
Every document behind this page — 2 of them, each with the day we read it
- official Vṛddhi Business Card product page — the earn rates, the quarterly lounge quota, the ₹10,000 welcome voucher, both fee waivers and the Visa lounge terms
- official Most Important Terms & Conditions — the ₹10,000 joining and ₹4,999 annual fee, the 1.89% forex markup, 23.88% interest and the Priority Pass usage charge