1 InterMile is worth ₹0.20 in India.
₹0.20₹200 per 1,000 miles, our house mark
held at ₹0.20 · re-marked 22 Aug
How we got this ₹ figure
₹0.20 is our HOUSE value for a mile — what a disciplined traveller actually clears, not the best redemption we have ever seen (₹0.33, the ceiling) and not the worst you can always fall back on (₹0.17, the floor). It is the number every route on this page is priced with.
The mark has 3 dated points in data/valuation-history.yaml, each one pinned to a quantified event in the tracker — no interpolation. The last move was re-marked 22 Aug. How we value a point →
Which of my cards reach it? — 14 do
14 cards earn InterMiles outright. The figure is the reward rate — what ₹100 of ORDINARY spend earns back at our house ₹/point, before milestones, accelerators and the annual fee. How we compute it →
InterMiles HDFC Bank Diners Club1.1%HDFC BankInterMiles HDFC Bank Platinum0.5%HDFC BankInterMiles HDFC Bank Signature0.8%HDFC Bank11 more cards that earn it — same ranking, best first
also known as: InterMiles (formerly JPMiles) · JPMiles · JP Miles · JetPrivilege · Jet Privilege · JetPrivilege JPMiles
WHY `retail` AND NOT `airline`, which is the whole reason this row waited. It was JetPrivilege, Jet Airways' frequent-flyer programme, rebranded InterMiles in 2019; Jet stopped flying in April 2019 and the airline is gone. What is left is not an FFP. Read on 2026-08-22, the programme's OWN terms — "These Terms and Conditions are effective from 12 January 2026" — contain the words "airline", "flight" and "Etihad" exactly ZERO times, and clause 12.1.2 says the rest out loud: "Effective 27th Oct'23, full redemption of InterMiles is no longer available for any Member, irrespective of tier status." Redemption is defined throughout as PARTIAL redemption against a bill. intermiles.com sells vouchers, Shop-with-Miles via TWID and Miles-for-Surveys; /flights serves the homepage. So `airline` would promise a graph edge that does not exist, and `scrip` is wrong for a different reason — every scrip row on this index is a BANK's or a fintech's own points, priced by the issuer that put them on a card, and InterMiles has no issuer: it is a standalone coalition programme you can join, earn and burn without holding any card at all. That is exactly the `retail` test, "a merchant programme that exists whether or not a card earns it", and it shelves with the other seven. THE VALUE, and its vintage. InterMiles publishes NO ₹-per-mile rate on any page this desk can reach — not the programme T&C, not the tier T&C, not the Shop pages, and the Digi Stores catalogue is client-rendered. So the mark is community consensus, per this file's header. Live From A Lounge states the band verbatim — "between 17 and 33 paise" — and that is floor and ceiling here rather than a collapsed pair, because the spread is real. The 20-paise value is where both trusted sources land after the October-2023 collapse: LFAL's "InterMiles shuts the tap on redemptions" (31-Oct-2023) records that "a flat 0.33-0.35 INR per mile redemption used to be available" and that the only survivor was "20 paise per mile" capped at ~30% of a fare, and TechnoFino's own redemption sweep priced domestic flights at 5:1 (₹0.20) and international hotels at 4.5–5:1 against vouchers at 5.9:1 (₹0.169, the floor). Recorded and deliberately NOT used as the ceiling: a 41-paise partial-discount datapoint (TechnoFino, "Value of 610 Intermiles is Rs.250") — it is capped near 5% of a bill so it cannot clear a balance, and it ran on the Amazon Pay voucher line InterMiles withdrew in December 2024. MARK THE VINTAGE: this is a programme mid-transition, priced 2026-08-22 on sources that pre-date the flight route vanishing from the site entirely. Re-mark the day InterMiles publishes a partial-redemption rate. NO TRANSFER ROW, and that is deliberate. The 12-Jan-2026 T&C names no partner programme and no ratio in either direction; Etihad's majority ownership is not a ratio. Card-side conversions in are gone too — IndusInd stopped converting reward points to InterMiles on 21 January 2025. Same rule that kept `fi-points` edge-less: an edge on an unnamed partner is an invented route. Add one the day a ratio is published.
InterMiles has held — we grade its nerf risk stable Last cut Apr-2019 devaluation (major) — quiet 7.5y since How we grade it →
Expiry: no fixed expiry date, but an 18-month INACTIVITY fuse, and it is the programme's own rule: clause 11.4.1 of the T&C effective 12 January 2026 says InterMiles accrued after 1 July 2018 "will not have an expiry date, provided that the accruing member has successfully completed at least 1 eligible accrual or redemption (award) Activity … in the preceding 18 months". Accounts are reviewed at the end of every calendar month; a new member's whole balance is reviewed in month 17. Platinum-tier balances are exempt (11.4.12), and anything accrued BEFORE 1 July 2018 expired on its own stamped date regardless of activity.
No corridor on our board prices a seat in InterMiles against a published chart — every option that reaches it is dynamic, and an estimate is not a seat. the 2,196 corridors that DO have a verified price →
What a mile has been worth
Derived only from quantified, dated events in the tracker — no interpolation, no vibes.
- 22 Aug 2026 ₹0.20 current house value — First mark on this desk. Held at 0.20 rather than re-cut: the 20-paise number is still where LFAL and TechnoFino both land, and InterMiles publishes no rate of its own to price the partial-redemption channel that is all that survives. Band left at its real observed width — floor 0.17 (vouchers at 5.9:1, TechnoFino), ceiling 0.33 (the top of LFAL's stated "between 17 and 33 paise").
- 28 Oct 2023 ₹0.20 2023-10-28 — InterMiles withdraws full redemption; only a capped partial redemption survives — Two sources, one event. The programme's own T&C, clause 12.1.2: "Effective 27th Oct'23, full redemption of InterMiles is no longer available for any Member, irrespective of tier status." LFAL, same weekend: the only remaining option was to "save up to 30% of the flight cost by redeeming an awfully high number of miles at 20 paise per mile". 0.34 → 0.20.
- 27 Oct 2023 ₹0.34 2023-10-27 — the last day of the flat-rate era, before InterMiles withdrew its redemption options over the weekend of 28 October 2023 — Live From A Lounge, "InterMiles shuts the tap on redemptions; renders programme useless" (31-Oct-2023), verbatim: "a flat 0.33-0.35 INR per mile redemption used to be available". Midpoint of the stated band.
The nerf log
Full tracker →Every tracked event that touches InterMiles.
- 1 Jun 2020InterMiles resets the clock, drags elite status into 2021Membership year ran Nov 2019-Nov 2020, on track for a normal requal → Reset to Jun 2020-May 2021, a de facto 7-month status extension
With flying dead and requal miles nowhere in sight, InterMiles quietly reset every elite member's qualification year to June 1 2020 through May 31 2021. It bought grounded frequent flyers seven extra months of Gold/Platinum perks they had no way of re-earning mid-lockdown. The catch: anyone who was close to requalifying under the old cycle lost that progress in the reset.
- 14 Nov 2019JetPrivilege drops the Jet, relaunches as InterMilesJetPrivilege / JPMiles, tethered to a bankrupt, grounded airline → InterMiles: rebranded currency, 250+ airline and 150+ lifestyle partners
Seven months after Jet Airways stopped flying and left nine million JPMiles holders in limbo, JetPrivilege Private Limited severed the association entirely, unveiling the InterMiles brand on November 14, 2019. The pitch was that miles survive even when the airline doesn't, and InterMiles doubled down by expanding from an airline-centric program into travel, hospitality and lifestyle redemptions across triple-digit partner counts.
- 17 Apr 2019Jet Airways grounds its fleet; JPMiles left in limboJPMiles on a flying full-service airline → Airline suspended; InterMiles soldiers on
India's premier full-service airline stopped flying overnight, stranding countless JPMiles balances. The Etihad-backed loyalty arm rebranded to InterMiles and limped on, but the lesson stuck: never hoard miles in a shaky program.
- 6 Sept 2018Jet Airways pilots threaten revolt over unpaid salaries16,000+ employees paid on time → Salaries delayed for ~15% of staff since August 2018
Jet Airways pilots wrote to the PM warning that stress from months of unpaid salaries could compromise flight safety — a red flag no JetPrivilege member should have ignored. Total bank liabilities had ballooned past ₹8,600 crore, and this was the first loud public sign that the airline behind India's biggest loyalty programme was running on fumes.
- 22 Aug 2018Jet Airways-Bangkok Airways codeshare adds 9 new citiesCodeshare limited to Mumbai-Bangkok, Bangkok-Delhi → Codeshare covers Phuket, Krabi, Da Nang and 6 more cities
Jet Airways slapped its code on seven Thai beach towns and two Vietnamese cities via Bangkok Airways, while BKK's code went onto Jet's domestic Mumbai and Delhi routes. A rare bit of good news in Jet's death-spiral year — more places to earn and burn JPMiles on a single PNR, even as the airline's own finances were unraveling.
7 earlier events on this program
- 30 Jun 2018JetPrivilege kills JPMiles expiry — first Indian program to do itJPMiles expired after inactivity → No expiry, given 1 activity every 18 months
JetPrivilege became the only major Indian loyalty programme with no mileage expiry, as long as members logged one qualifying activity every 18 months. A genuinely member-friendly move — ironic timing, given the airline behind the miles was less than a year from bankruptcy and would make this promise very hard to keep.
- 15 Nov 2017JetPrivilege HDFC World Debit Card joining bonus gutted2,000 JPMiles joining bonus + 1,000 RPs → 500 JPMiles joining bonus, tighter category earn
The ₹500-annual-fee JetPrivilege HDFC World Debit Card had punched way above its weight; from November 15, 2017 its joining bonus was cut 75% and the blanket 2 JPMiles/₹150 earn rate got carved into specific categories, with everything else falling to 1 JPMile/₹150. A quiet devaluation of one of the cheapest ways into JetPrivilege at scale.
- 28 Sept 2017JetPrivilege rewrites partner award chart into 13 global zonesRoute-specific partner redemption pricing → 13-zone chart, e.g. SYD-SIN economy = 40,000 JPMiles
JetPrivilege reorganised partner-airline redemptions into a 13-zone global chart effective September 28, 2017, part of the slow post-Etihad-tie-up drift away from the airline's old, generous earn-and-burn structure. For members redeeming on partners rather than Jet metal, this meant re-learning the entire chart from scratch.
- 19 May 2017Jet Airways extends Jetstar Asia codeshare, earns JPMilesNo JPMiles on Jetstar Asia-operated codeshare legs → JPMiles + Tier Miles now earned on those Jetstar Asia legs
Jet Airways extended its Jetstar Asia codeshare and, retroactive to March 26, 2017, made those Southeast Asia legs earn both JPMiles and Tier Miles when booked under a Jet Airways flight number. A modest but real buff for anyone connecting through Singapore who wanted their JetPrivilege elite status to keep climbing.
- 16 Jul 2016JetPrivilege rips up flat-rate miles, goes full fare-class100% miles earned on every fare, flat baggage by tier → Miles by fare class; discount fares earn zero
Effective August 17, 2016, JetPrivilege ended the one perk that made it the most generous program in India: earning full miles regardless of how cheap your ticket was. Deep-discount fares now earned nothing, Platinum baggage allowance dropped from 20kg to 15kg, free changes on cheap fares vanished, and Jet slapped on distance-based carrier surcharges for redemptions. This was the moment JetPrivilege stopped being the loyalty program every Indian frequent flyer bragged about and started looking like everyone else's revenue-based scheme.
- 1 Apr 2016IndusInd JetPrivilege card kills weekend miles bonanzaBonus JPMiles for Jet Airways bookings made on weekends → Weekend bonus scrapped, no advance notice
Effective April 1, 2016, the IndusInd JetPrivilege co-brand quietly stopped paying its weekend earning bonus, one of three simultaneous cuts (alongside Citi Prestige and HDFC Diners) that landed on Indian premium cardholders the same week. It wasn't the biggest devaluation of the season but it stung the specific crowd who'd built a whole booking strategy — Saturday-morning Jet fares — around gaming it.
- 26 Feb 2016JetPrivilege hikes partner award chart, kills cheap short-hopsOpaque per-partner charts; intra-US hops from 2,500 miles → Zone chart; intra-US jumps to 7,500-12,500 miles
Announced February 26, 2016 and effective April 1, JetPrivilege replaced its per-partner-airline redemption charts with one standardized zone-based table — more transparent, but also brutally more expensive. Short intra-US hops nearly quintupled from 2,500 to as much as 12,500 miles, intra-Australia flights doubled to 20,000 miles, and long-haul Australia-Europe awards jumped 37,500 miles one-way. A handful of Southeast Asia-to-North-America routes actually got cheaper, cold comfort for anyone who'd been hoarding JPMiles for the old sweet spots.
Straight answers
The questions people actually type about InterMiles — answered from the same data as everything above, with the same numbers.
What is 1 InterMile worth in INR?
Our desk marks InterMiles at ₹0.20 a mile — so 1,000 miles are worth ₹200 and 10,000 are worth ₹2,000. That is the number every route on this page is priced with. The ₹0.17 floor is the redemption you can always fall back on; the ₹0.33 ceiling is the best sweet spot we have actually verified. The mark is trending down, last reviewed 22 Aug 2026. The valuation index prices it against every other program we cover.
Which Indian cards earn InterMiles?
14 Indian cards earn InterMiles outright. Best-ranked earners: InterMiles HDFC Bank Diners Club, InterMiles HDFC Bank Platinum and InterMiles HDFC Bank Signature, the best of them at 1.1% reward rate. The card list above names each of them with its rank, its ratio and what one of its points becomes here.
When did InterMiles last devalue?
17 Apr 2019 — Jet Airways grounds its fleet; JPMiles left in limbo. We logged it JPMiles on a flying full-service airline → Airline suspended; InterMiles soldiers on. That is the newest cut on our record. The nerf log below carries 26 tracked events touching InterMiles, and the program grades stable on nerf risk.
Verified against InterMiles (Jet Privilege Private Limited, majority-owned by Etihad Airways)'s own documents on · our house ₹/mile, ₹0.20 today
Not published , and we will not invent it: how long posting takes · its award terms — surcharges and the booking window.
Every document behind this page — 3 of them, each with the day we read it
- official InterMiles' own programme terms — clause 12.1.2 ends full redemption for every member from 27 October 2023, leaving only partial redemption against a bill. That collapse is what this mark prices.
- community Live From A Lounge on the October-2023 cut — the flat 33 to 35 paise a mile that used to exist, and the 20 paise that survived it, capped near 30% of a fare. Floor and ceiling are that band.
- community TechnoFino's member-priced redemption sweep — domestic flights around 5:1 and vouchers nearer 5.9:1, which is 20 paise a mile at the top and 17 at the bottom. The second read the mark sits on.