AU devalues Rewardz 20% — ₹0.05/point lost

AU Small Finance Bank has made significant changes to its Rewardz program, effective from July 5, 2023. The e-voucher rate has been reduced from ₹0.25 to ₹0.20 per point, resulting in a 20% devaluation. Additionally, every redemption will now incur a fee of ₹99 plus taxes. The impact of this change will be felt by cardholders who rely on the Rewardz program for redemptions, particularly those using the e-voucher option. The reduced rate and added fee will decrease the overall value of earned points. For example, 100 points that previously redeemed for ₹25 in e-vouchers will now be worth ₹20, and cardholders will have to pay ₹99 plus taxes for the redemption. Our take: ₹0.25 to ₹0.20 a point is the 20% cut, but the ₹99-plus-tax redemption fee is the real damage — 100 points that used to fetch ₹25 in vouchers now fetch ₹20, and AU charges ₹99 to hand it over. That fee makes every small redemption a net loss. If you hold a Zenith or an Ananta, redeem in blocks large enough to swallow the ₹99 and stop treating Rewardz as a currency worth accumulating.