KrisFlyer devalues: the Indian points geek's favourite target gets pricier
Business and First saver awards rise 5%, Advantage awards 15%, and Star Alliance redemptions 5–12%. Every HDFC, Axis, Amex and HSBC transfer just bought less.
Singapore Airlines KrisFlyer is the single most important transfer target for Indian card points — HDFC Reward Points, Axis EDGE Miles, Amex MR and the new HSBC TravelOne all feed it. From 1 November 2025, it costs more. Business and First saver awards rise about 5% across most regions (Zone 10 — Africa, the Middle East, Turkey — up 10–20%), Advantage awards jump 15%, and Star Alliance redemptions climb 5–12%, breaking long-held parity on some routes. A small mercy: intra-Asia economy saver awards actually drop 5%.
The ₹2-plus-per-mile sweet spots — saver business to Singapore and onward to Europe — are exactly what took the hit. If you’ve been hoarding points for a specific premium-cabin redemption, the maths on that plan just got worse.
Our take: this is why we value points on the honest floor, not the marketing ceiling. KrisFlyer is still a top-tier target, but if you were sitting on a big balance waiting for “someday,” someday got more expensive. Book the redemption you’re actually planning; don’t speculate on a currency that only devalues.