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: ₹100 to ₹149 plus GST on every redemption, with cash-outs now capped at half your balance — IndusInd has made small redemptions pointless and large ones partial. Pinnacle and Legend holders wear all of it, while the Avios, Pioneer and EazyDiner cards walk away exempt, which tells you exactly which book the bank wants to grow. Redeem in one large block or transfer out. Never cash out a small balance on these cards again.