IndusInd hikes redemption fee 49% — ₹149
IndusInd Bank increases redemption fee to ₹149, capping cash-outs at 50% of points balance, affecting cards like Pinnacle and Legend. The new fee is ₹49 higher than before, and cash redemption is now limited.
IndusInd Bank has hiked its redemption fee to ₹149, a ₹49 increase from the previous ₹100. The fee is exclusive of GST and applies to most cards, with the Avios, Pioneer, and EazyDiner cards being exempt. The bank has also introduced a cap on cash redemptions, limiting them to 50% of the points balance. Additionally, fractional accrual on multiplier spends has been discontinued, and points earned on unpaid dues will be clawed back. Our take: IndusInd Pinnacle and Legend cardholders should reassess their rewards strategy, considering the increased redemption fee and cash-out cap. With the new changes, it may be more beneficial to explore alternative redemption options or switch to a different card with more favorable rewards terms.