Indusind products are one of the least advertised yet bearing a great value when it comes to certain credit/debit cards. Its even much better than HDFC/Axis in cashback perspective. I’ve opened Indusind savings a/c ( Indus Maxima Variant) an year back and the value i got from their debit cards are extraordinary that its worth mentioning.
They have a range of debit cards with different annual fees and the one worth holding is Indusind Maximum Platinum VISA Debit Card which has good reward earning rate compared to other cards which comes at an affordable joining fee.
Indusind Maximum Platinum VISA Debit Card Benefits:
- Joining Fee: Rs.199 + ST (For Indus Maxima Accounts)
- Upto 5 Reward Points/Rs.100
- Monthly Cap: 2000 Reward Points
- 1 Reward Point = Rs 0.50
- Reward Points can be redeemed for Cashback credit to a/c.
They have 5-Tier reward structure with which you can grab upto maximum of 2000 Reward points per month, on a spend of approx Rs.50,000. Now you can simply convert the reward points to cash in few clicks from the net banking and good thing is that they do not charge you any redemption fees. Cashback gets credited into your a/c within 2-3 working days.
Coming to the reward rate, the value of 2000 reward points = Rs.1000. That’s a nice 2% value back on a DEBIT card. This means, you’ve good potential to save Rs.12,000 in a year.
For the sake of comparison,
- Most HDFC debit cards gives you 1% cashback upto Rs.750 per month and
- ICICI coral debit cards gives you 0.75% value back in terms of Payback points.
- Even most of the premium “credit cards” are not near to this reward rate. Not just that, it comes with unlimited ATM withdrawals in any bank ATM across India which makes no-brainer to opt for the card.
If you’re looking for the top end debit card, its nothing but the Indusind Bank Signature Exclusive Debit Card which is my favorite for its 0% Foreign currency Markup fee.
CardExpert Rating: 4.5/5
Overall, its a real money saving debit card if you’re more focused on getting value back from your money spent on plastic. Sometimes its good to spend on debit cards too. Share your thoughts in comments below.