Indusind Bank’s Diwali offer is one of the lucrative ones in the industry as they usually come up with 2X/3X/5X promos every year with different spend level targets for each. The promo is purely Points based and that is good because Indusind allows you to convert the points to cash.
Here’s the 2019 Indusind Rewardz Festival on Indusind Credit Cards which is similar to the offers received in the past, except that they’ve now made the 5X to 4X. Here are all the details,
Indusind 2019 Rewardz Festival Offer Details:
- Offer period: 29th Sep to 27th Oct 2019
- Target A: Spend X to Get 2X Reward Points
- Target B: Spend Y to Get 3X Reward Points
- Target C: Spend Z to Get 4X Reward Points
- Max. Points: 15,000 Bonus Points (regular points not included in this Cap)
- Excluded Cards: IndusInd Bank Corporate Cards, IndusInd Bank Classic Credit Card, IndusInd Bank Gold Credit Card, Jet Airways IndusInd Bank Odyssey Credit Card, Jet Airways IndusInd Bank Voyage Credit Card and Credit Cards issued after September 30, 2019
- Excluded Spend Types: Loading of Mobile / Digital Wallets
- Fulfilment: 31st Dec 2019
- To Enroll: You should have registered via SMS (JOIN to 5676757) or clicked the personalised link received on email before 15th Oct 2019.
- Offer T&C
Speaking about the targets, Indusind says: Spend Levels have been set for each Cardholder depending on factors such as, but not limited to, credit history, purchase patterns, payment behaviour, credit limit, loyalty and vintage of the Cardholder.
- Return on spend: 2-10%
A new line has been added to the Offer T&C (Ref. #8), which means You’ll continue to earn reward points (both Regular & Bonus) on credit card spends beyond the credit limit in case the spend thresholds are over and above the credit limit.
That means the new Indusind rule w.r.t. reward points for spends beyond the credit limit in a stmt cycle has been temporarily relaxed for this offer. So this festive season you shall now shop as you wish, over and above the limit.
However, remember that those who got flat reward points offer like one of the reader, regular reward points beyond credit limit won’t accrue.
This is the first spend based offer I’ve come across for 2019 Diwali and is indeed a good beginning. Looking at the targets given for my a/c and playing with an excel sheet, I figured out that I get about 7% return on spend if I time my spends on Iconia Amex in the weekends alone.
The returns are really good considering the cash credit option. But yes the targets could be higher based on your previous spend history.
Have you received your spend targets from Indusind? Feel free to share your thoughts in the comments below.
Can’t understand how you calculate 6.5% return unless you got really good thresholds?
For me, on my Pioneer Legacy card, it is 4,52,000 for 2x, 6,03,000 for 3x and 12,06,000 for 4x.
Hence for me, the best case is 2% base rewards on weekend spending and about 1.6% additional if I spend 6,03,000.
If I spend 12,06,000 the return for me actually goes down.
Very bad and unattractive milestones for me at least.
I would rather stick to SCB Ultimate or Diners Black.
My targets are lot lower as I hardly use this card. Btw, I recalculated and found its actually 7%, updated accordingly.
Which card is better for foreign spend in dollars? DB or SC Ultimate?
Can you get statement credit in SCB Ultimate ?
vague targets for me..I can’t cross 2x..due to their capping on points till credit limit..am able to even reach 2x as the statement date falls in between..
Can any one confirm with bank are they giving away with the caping for festive season . otherwise it is just 2% and i dont think i will be able to achieve 3X because of the card limit .
I have registered day before but yet to be communicated the limits. It is highly unlikely I would use it but still they should communicate
My limits are 12k, 24k and 48k for 2/3/4x – which is a good reward rate but unlikely I will do any shopping on this card.
57K – 2X, 57K- 80K – 3X, 80K- 1.6L – 4x
If i spend 1.6L on my the card. I’ll get approx Rs 10,000 savings which is 6.25% + 2% on weekends (iconia) =8.25%
Do let me know if i am wrong anywhere.
You may need to work few mins on excel sheet.
I FEEL CHEATED IN THIS OFFER, (INDUSIND ICONIA AMEX)
THEY DIDNOT CREDIT 2x, 3x , 4x bonus rewards points as mentioned in offer, INSTEAD they credited 1x, 2x & 3x points and on calling them they are explaining that 1x you already got in card statement in the offer period, however their offer clearly states this these 2x,3x,4x bonus points are over and above the normal rewards earned.
You will get 10060/- worth points considering 2% default reward rate which results in 6.29% reward rate on achieving 1.6L spends under the offer you have received.
Till 57K – 2280/-
Betn 57K-80K – 1380/-
Betn 80K-160K – 6400/-
That default 2% reward rate is included in the overall 6.29% reward rate which you will get.
Thanks GTMAX. Sure sid, i have learned from you, blog and the members and still in learning process.
For me its. 24K-2x, 50K-3x, 1L+4x.
I hardly use this card too.
I have the Platinum for which Rs. 150 = 1.2 Rp.; 1Rp=.85.
I have a bunch on insurance payments coming up and I hope to use this card this upcoming month.
Are utility bill payments considered for this?
For Platinum card , I am getting 2.76 % percent cashback even if i spend full amount. I rarely use this card. up to 12000 , 2X from 12000 to 24000 , 3X and above 48000, 4X.
I was shocked by Indusind with the below message.
1) spend 6,90,000/- and get 5,000 points;
2) spend 9,20,000/- and get 10,000 points;
3) spend 18,39,000/- and get 15,000 points( shocking)
My credit limit is 5,22,000/-
They may need to tune the algo properly for cards with high spends.
This offer is not at all interesting to me because earning rate is just around 6% where as last year’s rate is around 8%. Generally salaried employees main expenses occur in the starting of the moth.Here the offer period is from 29th Sep to 27th Oct 2019 that means we can cover only one month expenses. Where as last year offer period is 10th Oct to 10th Nov 2018 so we can cover 2 moths expenses if we plan properly. So in this way it disappointing. Another disappointing thing with August update is with Utility payments you can earn just 0.7 rather than 2 on weekends ( mine is ICONIA). This rewards fest offer not applicable for mobile wallets so if we do around 3,00,000 rupees of utility payments/insurance/Educational Payments you just earn 2.14% where as the normal earning rate 2% so the advantage for spending on this offer is just 0.14%. I think they planned very wisely to cut the Bonus reward points earning from many people. For me no use at all….Very Disappointing offer from Indusind this year…
How about hdfc and icici. What festive offers are they coming up with
One update you can spend beyond your credit limit by doing pre payments. You will not get regular rewards point but, get bonus point I have just confirmed from them.
My threshold limits are 336K, 448K & 895K for 2x, 3x & 4x respectively. Hardly feasible targets…and I haven’t even used this card for past 8 months… Considering my card limit is just 4 lakhs, I don’t know what algorithm they have used to calculate such pointless offers….Indusind really sucks big-time now.
Thank you for putting my thoughts into words.
Are they sending the limits on the email also?? I have registered for the offer but don’t have access to my mobile number currently.
I have been visiting your site from a long time now. I even got my AmEx Platinum Travel Card by your referral link 😉 I decided to contribute to the superb work that you are doing. I use 9 cards for myself and 3 for my mom from which I will be giving you all of the information from now 🙂
AmEx has also announced its spend based offer for Diwali which is:
Spend a total of ₹2.5 Lacs or more on your American Express Card, including spends on your Supplementary Card(s) during the offer period and get American Express Domestic Travel Hotel Stay Voucher worth ₹12,500.
OFFER VALID FROM OCTOBER 1 TO NOVEMBER 30, 2019
Plain and simple, 5% reward rate (over and above the regular rewards).
Note in the mail: The offer is applicable only on the eligible Card account, the account ending number of which is mentioned above.
Thanks for your support. 🙏
And the Amex Offer article is live too.
Dear Customer, this festive season IndusInd Bank and American Express brings you a bigger reason to celebrate! Spend INR 50000 with at least INR 25000 at physical merchant outlets using your IndusInd Bank American Express Credit Card ending 0007 and get Taj Experiences E-Gift Card worth up to INR 5000. Offer Period: 01-Oct-19 to 31-Oct-19.
Two Spend thresholds are given to all eligible cardholders to win Taj Experiences E-
b. If the Cardholder spends equal to or Greater than INR 50000, out of which at least INR
25000 should be at a Point of Sale Physical Merchant Outlet, Cardholder will be
eligible for Taj Experiences E-Gift Card worth INR 2000.
c. If the Cardholder spends equal to or Greater than INR 100000, out of which at least
INR 50000 should be at a Point of Sale Physical Merchant Outlet, Cardholder will be
eligible for Taj Experiences E-Gift Card worth INR 5000.
I have got achievable targets from IndusInd this year and I think this is one of the best Diwali Offers in the market currently. It’s much better than getting some vouchers or firestick or marketing gimmicks like up to 10x Rewards on Smartbuy on selected categories!
10x on smartbuy is not a gimmick. Collected more than 50k rupees worth points in just two months. Luckily the last two months have been heavy travel for me. Completely worth it
Spend INR 12000 to qualify for 2x Rewards,
Spend INR 24000 to qualify for 3x Rewards and
Spend INR 48000 to qualify for 4x Rewards.
Offer Period: 29-Sep-19 to 27-Oct-19.
Max Bonus Points: up to 15000.
my targets are achievable but my credit limit is 80k got split with visa version.
How to get cash credit in statement ,I usually take spencers voucher.
I hold indusind iconia.
What’s the best way to use IndusInd Rewards Points? Earlier I used to redeem them for Amazon vouchers but looks like they revamped the entire Indusmoments Website? How do I maximize the value of my redeems?
I used to redeem for Amazon Vouchers as well but now statement credit gives me the same redemption value.
statement credit. i.e., they will credit to your cc statement.
What is the conversion ratio for statement credit?
1:1. for indusind iconia amex and visa
This Year 2019 I have been targeted as following:
“You need spend level 1: 44000; spend level 2: 88000; spend level 3: 132000|| customer need to spend minimum: 44000 to get 2x rewards on all spends || spend minimum 88000 to get 3x rewards on all spends above 44000 & 2x rewards on all spends till 44000|| spend minimum 132000 to get 4x rewards on all spends above 132000 & 3x rewards on all spends above 88000 & 2x rewards on all spends till 44000| max bonus points: upto 15000| if customer reaches only till level 1 max bonus points will be 5000| if ch reaches only till level 2 max bonus points will be 10000| if customer reaches level 3 max bonus points will be 15000| wallet loading not eligible | bonus rewards are in addition to rewards earned under normal course.
Bonus reward points will be uploaded by december 2019 on your credit card.”
Query: Whether the LIC, Medical Insurance or EMI payment will be counted to reach the target? If yes then How the EMI will be counted…. For instance, If I buy a mobile within the period like 29th Sept to 27th Oct and opt for EMI payment from my CC then how the amount will be accounted like full amount or only EMI amount ELSE how the EMI will be consider because the EMI will be only in next month billing cycle.
I upgarded the card from indus iconia to pinnacle. Two days back i got 15K points. As i have spent on pinnacle card in diwali period.
What is the process to upgrade? Is pinnacle better than iconia?
Give a call to customer care and ask if you are eligible for pinnacle card. If you have CL of 1.5L or more, thry will easily upgrade.
But you will be charge joining fee. Pinnacle gives flat 2.5% returns on online spends. My spends are mostly online. So yeah its better card for me.
Did anyone get the rewards credited?
I did about 60K transactions on indusind iconia amex, instead of getting this, I got a Taj Experiences E-Gift card worth upto Rs.5000