Credit Card Reward Points Value in Rupees

Almost every Credit card offers the opportunity to accumulate reward points through various transactions. Over a year, consistent credit card use can build thousands of these reward points. However, many cardholders mistakenly believe these reward points accumulate in their accounts without serving any purpose. It's important to note that all banks operate reward point Redemption programs, enabling you to convert your collected points into tangible savings.

Each reward point carries a specific rupee value, which can vary from Bank to bank. Therefore, reviewing the rupee value assigned to reward points by various leading banks that offer credit card services is advisable. This will let you to make informed decisions about maximising the value of your accrued reward points. In this post, let's look at credit card reward points value in rupees as provided by varying Indian banks.

The Rupee Equivalent to 1 Reward Point Across Various Indian Banks

Several prominent banks in India offer a Range of credit cards, allowing you to accumulate reward points. Hence, it is advisable to familiarise yourself with the monetary value associated with different reward points.

The Rupee Value of Axis Bank Credit Card Reward Points

Reward points serve as valuable bonuses for credit card users, and with Axis Bank Credit Cards, each reward point holds a value of 20 paise. This means that if you accumulate 1000 reward points monthly, you could potentially earn INR 2400 in a year.

The Rupee Value of Citibank Credit Card Reward Points

The value of one reward point in Citibank credit cards varies based on the specific card type. Generally, the value of one reward point is 35 paisa. However, for Citibank cashback credit cards or Citibank Prestige Credit Cards, the value of one reward point is equivalent to Rs. 1.

The Rupee Value of HDFC Bank Credit Card Reward Points

HDFC Credit Cards offer enticing discounts and promotions and the opportunity to earn reward points. The value of a single reward point on an HDFC Credit Card is 30 paisa. Furthermore, redeeming these points through HDFC All Miles increases their value to 50 paise.

The Rupee Value of ICICI Bank Credit Card Reward Points

ICICI Bank provides a range of credit cards, each with the enticing feature of earning reward points on various transactions. The value of one reward point on ICICI credit cards amounts to 25 paise, and multiple redemption options are available.

The Rupee Value of RBL Credit Card Reward Points

RBL Credit Cards have been gaining popularity due to their capacity to earn substantial reward points. Each reward point earned through RBL credit cards is valued at 25 paise. These points can be conveniently redeemed on the official RBL Rewards website.

The Rupee Value of SBI Credit Card Reward Points

For SBI Credit Card holders, each reward point is 25 paise. These reward points can be effectively utilised to settle credit card bills or for shopping various products available on the official SBI Rewardz website.

The Rupee Value of YES Bank Credit Card Reward Points

YES BANK Credit Cards offer reward points valued at 25 paise per point. If you accumulate 20,000 reward points over a year, you can redeem them for Rs. 5,000. This amount can be utilised for shopping or settling outstanding credit card bills.

Key Points to Know Regarding Credit Card Reward Points

Below mentioned are some essential points you must keep in mind concerning credit card reward points:

• Every reward point credited to your account comes with an expiration date
• The monetary value of reward points in rupees can vary from one bank to another and from one card to another
• You can Offset your outstanding credit card bills using your accumulated reward points
• Nearly every bank provides an online shopping portal where you can redeem the reward points you've earned
• Different categories of transactions can earn varying amounts of reward points

Wrapping Up

As evident, most credit card providers offer a reasonable reward rate that depends on factors such as their annual fee and eligibility requirements. Now that you are familiar with the rupee values of reward points offered by different banks, you can determine the rupee worth of your reward points and apply them to settle your credit card bills. Be sure to utilise all your reward points before they expire.