Shines via 1:1 airline transfers (KrisFlyer, Avios). SmartBuy caps and the 2026 revisions dented the easy value.
expiry: 3 years from accrual; the whole balance nullifies if the card sits unused 365 days (official T&C)
1 EDGE Mile → 2 partner miles on the surviving 1:2 routes (KrisFlyer, Air India, Flying Blue) at the ₹1/mile standard. ₹1 flat on the Travel Edge portal is the floor; saver business via KrisFlyer pushes the ₹2.20 ceiling. Mind the ₹199+GST transfer fee and 30k/120k caps.
expiry: no accrual expiry; forfeited 30 days after card closure or once dues run 90+ days overdue (Oct-2025 rule)
What Magnus, Magnus for Burgundy and Reserve actually earn (Atlas earns EDGE Miles). Standard conversion is 5 RP → 2 partner miles since Sep 2023 = ₹0.40 at the ₹1/mile standard; Burgundy's 5:4 doubles that — its premium is priced into the card, not this house value. Floor is the ~₹0.20 EDGE portal rate.
expiry: no accrual expiry; forfeited 30 days after card closure or once dues run 90+ days overdue (Oct-2025 rule)
Best squeezed through Platinum Travel / Gold Charge milestone vouchers and select transfers. Base MR is pedestrian.
expiry: never — as long as one MR-earning card stays open
Emeralde Private earns hard and redeems near ₹1 on iShop travel; the 2026 category exclusions hurt everyday earn.
expiry: 3 years from issuance
The Indian points geek's favourite transfer target. Saver business to SIN/Europe is where the ₹2+/mile lives.
expiry: hard 3 years from accrual — no activity extension
Short-haul distance-based sweet spots and Qatar Qsuite redemptions. Cross-program Avios movement adds flexibility.
expiry: activity-based — lapse after 36 months with no earning or spending
TravelOne's 1:1 in-app transfers to Avios and KrisFlyer are the whole story; redeem on the portal and value collapses to cashback rates.
expiry: 3 years from the end of the month earned (official rewards T&C)
Fully dynamic since 2022 (award charts removed 29-Mar-2022, transition complete by 2023) and still drifting down — Marriott quietly repriced awards up another 5–16% across 2025–26. Free-night awards and the old ~35k-point sweet spots are where what's left of the value lives.
expiry: activity-based — forfeited after 24 months without earning activity
Monthly Promo Rewards and business-class deals from India are the sweet spots; the base award chart is dynamic and often pricey.
expiry: activity-based — any earn every 24 months keeps the balance alive
Near-fixed value — 2,000 points = €40 against any stay; EUR/INR ≈109 (Jul 2026) puts the peg at ₹2.18, we mark ₹2.15 a hair conservative. High worth per point, but you earn very few; simple, not aspirational.
expiry: lapse after 365 days without points activity
The SBI MILES range's currency (MILES, MILES PRIME, MILES ELITE — and where the discontinued Etihad Guest SBI holders were migrated). ~25 partners with 1:1 to Maharaja, Avios, Flying Blue and Aeroplan carry the value; the travel portal pays a flat ₹0.50 floor. Watch the 2:1 tier (Emirates, Turkish, United).
expiry: 24 months from accrual (official T&C) — the shortest fuse on this index
Mid-pack hotel value; InterContinental/Kimpton standard awards and the 4th-night-free perk push toward the ₹1+ ceiling. Reachable from HDFC (1:1), HSBC (1:1), SBI Travel Credits (1:1) and Axis EDGE Miles (1:2).
expiry: lapse after 12 months of inactivity (elite members exempt)
The Jun-2026 Maharaja Club route IS the value — but it's 1:1 on Tiger ONLY (₹0.80 at the Maharaja house rate, capped 25k points/month via IndusMoments, ₹100 fee); Pinnacle converts at 2:1 and Legend at 4:1, so premium holders live off ₹0.75 vouchers instead. Cash credit floors it at ₹0.40; KrisFlyer (10:3 on Tiger, 4:1 on Legend) is a decoy. Maharaja business sweet spots carry the ₹1.70 ceiling.
expiry: 24 months from accrual (official Tiger MITC)
No longer a closed loop: since 1-Jun-2026 AU points transfer to Maharaja Club — 3:2 on Zenith+ (₹0.67/pt at the mile anchor, the new Zenith+-only ceiling) but a decoy 6:1 everywhere else, which is why the house value stays at the ₹0.25 AU Rewardz travel rate (₹0.20 e-vouchers). Every redemption costs ₹99 + GST.
expiry: 24 months from the transaction date (points earned from 11-Apr-2023)
₹0.25/point only on YES Rewardz flight/hotel bookings, capped at 70% of the invoice; statement credit and Amazon/Flipkart vouchers collapse to ₹0.10. The lone airline route — Maharaja Club at 15:1 since 1-Jun-2026 — is a ₹0.07/pt decoy. A ₹100 + GST redemption fee landed on Marquee 15-Jun-2026.
expiry: 36 months from the date of earning
Fixed-ish: 100 points knock RM1 off AirAsia fares — 1 point ≈ 1 sen ≈ ₹0.23 at MYR/INR ≈23 (Jul 2026). Cash-fare offsets on SE Asia short-haul, nothing more.
Fixed value — 100 points = US$1 against fares and baggage per the official FAQ, ≈₹0.95/point at USD/INR ≈95 (Jul 2026). Min 3,000 points; Gulf low-cost only.
Revenue-based at a fixed 15 points per US$1 — 6.67¢ ≈ ₹6.35 at USD/INR ≈95 (Jul 2026), the richest single point on this index. The catch: transfer ratios in are steep, so mind the arithmetic per bank point.
Flat go-free awards keep it predictable — TPG holds 0.7¢ ≈ ₹0.65. Vacation-rental redemptions are the quiet ceiling; India footprint is thin.
expiry: 4 years hard; sooner after 18 months of inactivity
The routes
Transfer partners
Ratios read our points : partner miles — 2:1 means 2 points become 1 mile, never the other
way round. Sourced from each program's live transfer table.
HDFC Reward Points
22 routes 1:1
Singapore Airlines KrisFlyer
The legacy 1:1 route. Saver business MAA/BLR/DEL → SIN and onward to Europe is where ₹2+/point lives.
active
2:1
Air Canada Aeroplan
Star Alliance on a near-fixed chart; strong for North America and Europe business, no fuel surcharges.
active
2:1
Avianca LifeMiles
No fuel surcharges on Star Alliance premium cabins; frequent buy-miles cheapness. HDFC-exclusive route.
active
2:1
British Airways Executive Club (Avios)
Short-haul distance-band Avios; pool and hop to Qatar Qsuite.
active
2:1
Qatar Airways Privilege Club (Avios)
Qsuite to Doha and onward; Avios move freely across BA/Finnair/Qatar. Added 2025.
active
1:1
Finnair Plus (Avios)
The best Avios on-ramp at 1:1. Distance bands and Qatar Qsuite via pooling.
active
1:1
Air France-KLM Flying Blue
Monthly Promo Rewards to Europe at a clean 1:1; dynamic base chart otherwise.
active
2:1
Cathay Asia Miles
Cathay business to Hong Kong and oneworld sweet spots. Added 2025.
active
2:1
Etihad Guest
Etihad business to AUH and Europe; watch increasingly dynamic pricing.
active
2:1
Turkish Airlines Miles&Smiles
Cheap Star Alliance awards to Europe/US — if you can survive the booking experience.
active
2:1
United MileagePlus
No fuel surcharges and wide Star Alliance access; dynamic but occasionally a steal.
active
2:1
Thai Royal Orchid Plus
Star Alliance via BKK; regional premium cabins. Added 2025.
active
2:1
Air India Maharaja Club
Domestic + Star Alliance; the default premium-cabin target post-Vistara merger. Added Feb 2025.
active
1:1
Vietnam Airlines LotusSmiles
SkyTeam short-haul across SE Asia; niche, but a clean 1:1.
active
1:1
AirAsia Rewards
Cheap SE Asia short-haul economy; 1:1 keeps it painless for cash-fare offsets.
active
1:1
SpiceJet SpiceClub
Domestic SpiceJet fares only; thin value, treat as a last resort.
active
2:1
ALL - Accor Live Limitless
Near-fixed ~€40 per 2,000 ALL points against any stay; the most predictable hotel value here.
active
2:1
Marriott Bonvoy
Fully dynamic since 2025; free-night awards are what's left. Added 2025.
active
2:1
Club ITC
ITC luxury nights and suite upgrades across India; Green Points for dining. Added 2025.
active
1:1
IHG One Rewards
1:1, but IHG points are worth little — only for one specific costed booking.
active
1:1
Radisson Rewards
Thin per-point value, strictly situational.
active
1:1
Wyndham Rewards
Flat-ish redemptions and low points worth; niche use only.
active
Axis EDGE Miles
26 routes 1:2
Singapore Airlines KrisFlyer
Atlas' crown jewel — 1 EDGE Mile → 2 KrisFlyer. Saver business to SIN and Europe. Group A.
active
1:2
Air Canada Aeroplan
Star Alliance on Aeroplan's chart, no fuel surcharges; great for long-haul business. Group A.
active
1:2
Etihad Guest
Etihad business to AUH and beyond. Group A.
active
1:2
Ethiopian ShebaMiles
Star Alliance to Africa and Europe at low cost — if you can wrangle the booking. Group A.
active
1:2
Japan Airlines Mileage Bank
oneworld to Japan and beyond; some of the best business-class awards going. Group A.
active
1:2
Thai Royal Orchid Plus
Star Alliance via BKK; regional premium cabins. Group A.
active
1:2
Turkish Airlines Miles&Smiles
Cheap Star Alliance sweet spots to Europe/US; painful to book. Group A.
active
1:2
United MileagePlus
Wide Star Alliance access, no fuel surcharges, dynamic pricing. Group A.
active
1:2
Air France-KLM Flying Blue
Monthly Promo Rewards and business deals from India. Group B.
active
1:2
Air India Maharaja Club
Domestic + Star Alliance premium cabins post-Vistara. Group B.
active
1:2
Qantas Frequent Flyer
oneworld via Qantas; useful for Australia and select partner awards. Group B.
active
1:2
AirAsia Rewards
Cheap SE Asia short-haul economy. Group B.
active
1:2
SpiceJet SpiceClub
Domestic SpiceJet fares; low value. Group B.
active
2:1
British Airways Executive Club (Avios)
Punishing 2:1 since it was added 1 Apr 2026 — 4× the miles of a standard partner. Only for a specific Avios booking. Group A.
active
2:1
Finnair Plus (Avios)
Added 1 Apr 2026 at the same brutal 2:1; skip unless you're topping up an Avios balance. Group A.
active
2:1
Vietnam Airlines LotusSmiles
Added 1 Apr 2026 at 2:1; niche SkyTeam, poor value from Atlas. Group A.
active
2:1
IndiGo BluChip
Added 18 Jun 2026 (Group B) — intro 1:2 through 17 Aug 2026, then 2:1. Lifetime-valid BluChips on India's biggest airline.
active
1:2
ITC Hotels
ITC luxury nights across India. Group B.
active
1:2
The Postcard Hotel
Boutique Indian luxury stays via the Sunshine Club. Group B.
active
1:2
IHG One Rewards
IHG nights; low per-point worth. Group B.
active
1:1
Radisson Rewards
The one 1:1 route here, but thin value per point. Group B.
active
1:2
Orchid Rewards
Royal Orchid mid-scale stays; domestic, niche. Group B.
active
1:2
Wyndham Rewards
Flat redemptions, low points worth. Group A.
active
—
Marriott Bonvoy
Pulled 2 Apr 2026. The flexible hotel escape hatch for Atlas holders is gone.
removed
—
ALL - Accor Live Limitless
Pulled 2 Apr 2026. The near-fixed €40-per-2,000-points value went with it.
removed
—
Qatar Airways Privilege Club (Avios)
Pulled 2 Apr 2026. Qsuite via Avios is no longer reachable from EDGE Miles.
removed
Axis EDGE Reward Points
26 routes 5:2
Singapore Airlines KrisFlyer
The standard 5:2 since Sep 2023; Burgundy still gets 5:4. Saver business to SIN/Europe.
active
5:2
Air Canada Aeroplan
Star Alliance long-haul business, no fuel surcharges. Burgundy at 5:4.
active
5:2
Etihad Guest
Etihad business to AUH. Burgundy at 5:4.
active
5:2
Ethiopian ShebaMiles
Star Alliance to Africa/Europe; booking friction applies.
active
5:2
Japan Airlines Mileage Bank
oneworld Japan awards. Burgundy at 5:4.
active
5:2
Thai Royal Orchid Plus
Star Alliance via BKK. Burgundy at 5:4.
active
5:2
Turkish Airlines Miles&Smiles
Cheap Star Alliance sweet spots; painful to book. Burgundy at 5:4.
active
5:2
United MileagePlus
Wide Star Alliance access. Burgundy at 5:4.
active
5:2
Air France-KLM Flying Blue
Promo Rewards from India. Burgundy at 5:4.
active
5:2
Air India Maharaja Club
Domestic + Star Alliance premium cabins post-Vistara. Burgundy at 5:4.
active
5:2
Qantas Frequent Flyer
oneworld for Australia. Burgundy at 5:4.
active
5:2
AirAsia Rewards
SE Asia short-haul economy; thin value.
active
5:2
SpiceJet SpiceClub
Domestic SpiceJet fares; low value.
active
5:1
British Airways Executive Club (Avios)
The Apr-2026 additions land at 5:1 for points (Burgundy 5:2). Skip.
active
5:1
Finnair Plus (Avios)
Same Apr-2026 5:1 (Burgundy 5:2); only for topping up an Avios balance.
active
5:1
Vietnam Airlines LotusSmiles
Niche SkyTeam at 5:1 (Burgundy 5:2); poor value.
active
5:2
ITC Hotels
ITC luxury nights. Burgundy at 5:4.
active
5:2
The Postcard Hotel
Boutique Indian luxury via the Sunshine Club.
active
5:2
IHG One Rewards
IHG nights; low per-point worth.
active
5:2
Radisson Rewards
Thin value per point; situational.
active
5:2
Wyndham Rewards
Flat-ish awards; situational. Burgundy at 5:4.
active
5:2
Orchid Rewards
Boutique hotel niche. Burgundy at 5:4.
active
5:1
IndiGo BluChip
Added 18 Jun 2026 — intro 5:2 through 17 Aug 2026, then 5:1 (Burgundy 5:2).
active
—
Marriott Bonvoy
Pulled 2 Apr 2026 alongside the EDGE Miles purge.
removed
—
ALL - Accor Live Limitless
Pulled 2 Apr 2026.
removed
—
Qatar Airways Privilege Club (Avios)
Pulled 2 Apr 2026; Qsuite via Avios no longer reachable from EDGE points.
removed
Amex Membership Rewards
9 routes 2:1
Singapore Airlines KrisFlyer
The best home for Indian MR — saver business to SIN/Europe. 2 MR → 1 mile.
active
2:1
British Airways Executive Club (Avios)
Short-haul distance-band Avios; cross-program to Qatar Qsuite. 2 MR → 1 Avios.
active
2:1
Qatar Airways Privilege Club (Avios)
Qsuite to Doha and onward; Avios move freely across BA/Qatar. 2 MR → 1 Avios.
active
2:1
Cathay Asia Miles
Cathay business to Hong Kong; oneworld sweet spots. 2 MR → 1 mile.
active
2:1
Emirates Skywards
Emirates premium cabins ex-India; watch heavy surcharges. 2 MR → 1 mile.
active
2:1
Virgin Atlantic Flying Club
Sweet spots on partners (ANA, Delta) more than Virgin metal. 2 MR → 1 point.
active
1:1
Marriott Bonvoy
The one 1:1 route; dynamic pricing means free-night awards are the play.
active
10:9
Hilton Honors
10 MR → 9 Hilton; Hilton points are worth little, so a weak route.
active
—
Etihad Guest
Withdrawn 30 Jun 2026 as the global Amex–Etihad tie-up ended. Gone from Indian MR.
removed
ICICI Reward Points
2 routes 1:1
Air India Maharaja Club
The only airline transfer, and only on two cards — Emeralde Private Metal & Times Black at 1:1. Sapphiro/Rubyx have no airline route; iShop/catalogue only. Domestic + Star Alliance.
active
1:1
iShop travel portal
Flights/hotels at ~₹1/point of ₹ value, no transfer hassle — the default for most ICICI cards.
active
HSBC Reward Points
20 routes 1:1
Singapore Airlines KrisFlyer
Star Alliance premium cabins; instant 1:1 from the HSBC app.
active
1:1
British Airways Executive Club (Avios)
Short-haul distance bands; pool to Qatar Qsuite. Instant 1:1.
active
1:1
Qatar Airways Privilege Club (Avios)
Qsuite to Doha and onward at a clean 1:1.
active
1:1
Air India Maharaja Club
Domestic + Star Alliance after the Vistara merger. 1:1 (posts in ~5 working days).
active
1:1
Air France-KLM Flying Blue
Monthly Promo Rewards to Europe at 1:1.
active
1:1
Etihad Guest
Etihad business to AUH and Europe; 1:1 and instant.
active
1:1
EVA Air Infinity MileageLands
EVA business to Taipei and North America; Star Alliance. 1:1.
active
1:1
Japan Airlines Mileage Bank
oneworld to Japan; excellent business awards at 1:1.
active
1:1
Qantas Frequent Flyer
oneworld via Qantas; Australia and partner awards. 1:1.
active
1:1
Thai Royal Orchid Plus
Star Alliance via BKK; regional premium cabins. 1:1.
active
1:1
Vietnam Airlines LotusSmiles
SkyTeam short-haul across SE Asia. 1:1.
active
2:1
Turkish Airlines Miles&Smiles
Cheap Star Alliance sweet spots to Europe/US, but a 2:1 haircut.
active
2:1
United MileagePlus
Wide Star Alliance, no fuel surcharges; transfers at 2:1.
active
2:1
Hainan Airlines Fortune Wings
Niche China routes; 2:1 and thin availability.
active
1:3
AirAsia Rewards
1 point → 3 AirAsia points, but they're worth little — cash-fare offsets only.
active
1:1
ALL - Accor Live Limitless
Near-fixed ~€40 per 2,000 ALL points; the most predictable hotel value. 1:1.
active
1:1
Marriott Bonvoy
Dynamic since 2025; free-night awards are what's left. 1:1.
active
1:1
IHG One Rewards
IHG nights; low per-point worth. 1:1.
active
1:1
Wyndham Rewards
Flat redemptions, low points worth. 1:1.
active
5:1
Shangri-La Circle
5 points → 1 Shangri-La point; steep, strictly for topping up a stay.
active
SBI Travel Credits
26 routes 1:1
Air India Maharaja Club
The headline route — domestic + Star Alliance premium cabins post-Vistara.
active
1:1
British Airways Executive Club (Avios)
1:1 Avios without an Amex — short-haul sweet spots and Qatar Qsuite via Avios.
active
1:1
Air France-KLM Flying Blue
Promo Rewards from India at full 1:1 value.
active
1:1
Air Canada Aeroplan
Star Alliance long-haul business without fuel surcharges.
active
1:1
Cathay Pacific Asia Miles
oneworld via HKG; a rare 1:1 Asia Miles feed from an Indian bank card.
active
1:1
Etihad Guest
Etihad business to AUH — more relevant since Amex MR dropped this route.
active
1:1
Qantas Frequent Flyer
oneworld access for Australia trips.
active
1:1
Thai Royal Orchid Plus
Star Alliance via BKK regional premium cabins.
active
1:1
AirAsia Rewards
Cheap SE Asia short-haul; thin per-point worth.
active
1:1
SpiceJet SpiceClub
Domestic top-ups; low value.
active
1:1
Vietnam Airlines LotusSmiles
A recent addition — a clean 1:1 SkyTeam feed for short-haul SE Asia. Niche, but full value.
active
2:1
Emirates Skywards
Half value — only for topping up a Skywards balance you already hold.
active
2:1
Turkish Airlines Miles&Smiles
Star Alliance sweet spots survive even at 2:1, barely.
active
2:1
United MileagePlus
Wide Star Alliance reach, weak ratio.
active
2:1
Japan Airlines Mileage Bank
oneworld Japan awards at half value.
active
2:1
Saudia Alfursan
SkyTeam via JED/RUH; niche.
active
2:1
Ethiopian ShebaMiles
Star Alliance to Africa; hard to book, weak ratio.
active
2:1
AirRewards (Air Arabia)
Gulf low-cost top-ups; skip.
active
1:1
IHG One Rewards
1:1 into IHG — decent with 4th-night-free stacking.
active
1:1
Wyndham Rewards
Flat-ish awards; situational.
active
1:1
Radisson Rewards
1:1 into Radisson Rewards — situational for domestic/APAC stays, full value on paper.
active
1:1
Orchid Rewards
Royal Orchid mid-scale stays — the third 1:1 hotel exit. Domestic, niche, but full value.
active
2:1
ALL - Accor Live Limitless
Accor's near-fixed €40/2,000-pt value halves through this ratio.
active
2:1
Club ITC
ITC luxury nights at half value.
active
2:1
Jumeirah One
Dubai luxury niche.
active
6:1
Shangri-La Golden Circle
Looks brutal, but GC points are rich — roughly ₹1.4/credit at GC's ~9¢ value. Min 1,200 credits.
active
IndusInd Reward Points
2 routes 1:1
Air India Maharaja Club
Live 1-Jun-2026 — 1:1 on the lifetime-free Tiger (capped 25,000 points/month via IndusMoments); Pinnacle converts at 2:1 and Legend at a decoy 4:1. Domestic business and Star Alliance awards are the target.
active
10:3
Singapore Airlines KrisFlyer
Tiger converts 10:3 (₹0.33/point at KrisFlyer's ₹1.10) — a decoy next to the 1:1 Maharaja route. Pinnacle's better 2:1 (₹0.55/point; CardInsider review — IndusInd's premium-tier page has claimed 1:1, verify before transferring) is the worthwhile variant; Platinum/Legend tiers convert at a punishing 4:1.
active
AU Reward Points
1 route 6:1
Air India Maharaja Club
The quiet buff of Jun-2026: Zenith+ converts at 3:2 — ₹0.67/pt at the mile anchor, nearly 3× the ₹0.25 catalogue rate. Everything else converts at a decoy 6:1. Ananta isn't in the published table; assume no route until AU says otherwise.
active
YES Rewardz (YES CC Rewardz)
1 route 15:1
Air India Maharaja Club
Exists, barely — 15 Rewardz points per Maharaja point is ₹0.07/pt against the ₹0.25 booking rate. A decoy for Marquee/Reserv; listed so nobody discovers it the expensive way.
active