IndusInd Bank Platinum RuPay Credit Card Review: 2 Points per ₹100 on UPI
The IndusInd Bank Platinum RuPay Credit Card earns 2 reward points per ₹100 on UPI and 1 point on other spends, worth ₹0.60 each on non-cash redemptions or ₹0.35 as cash credit. IndusInd's MITC lists a one-time ₹10,000 joining fee plus GST and no annual fee, even though the bank markets the card as lifetime free. There is no lounge access, and fuel earns no points.
Key facts
- Joining fee
- ₹10,000 + GST
- Annual fee
- Nil
- Base reward
- 1 reward point per Rs.100 on non-UPI transactions (about 0.35% value)
- Best category
- UPI transactions: about 0.7% value
- Lounge
- Domestic: None International: None (MITC: Priority Pass not available on Platinum RuPay)
- Forex markup
- 3.5% of the amount
- Network
- RuPay
Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.
In short
A reasonable UPI card if IndusInd offers it to you without the ₹10,000 joining fee, but a slow payback if you are charged the fee the MITC lists.
Best for
- People who pay most bills and shops through UPI and want a RuPay credit card for it
- Applicants who meet IndusInd's general ₹20,000-a-month income rule
- Travellers in India who value lost baggage and missed connection covers on a card with no annual fee
Skip it if
- Your offer shows the ₹10,000 joining fee and you spend little
- You want airport lounge access or a low forex mark-up
- You prefer cash back, since cash credit is only ₹0.35 a point
Highlights
- MITC joining fee ₹10,000 plus GST, annual fee nil
- 2 points per ₹100 on UPI, 1 point on other spends
- ₹0.60 a point on non-cash redemptions, ₹0.35 as cash credit
- No rent fee on this card per the MITC
- Interest 3.95% a month (47.4% a year)
Platinum RuPay: the card and the fee question
Before anything else, the fee. IndusInd's listing page says "Get Lifetime-Free Platinum RuPay Credit Card", and the card page FAQ invites you to apply for the lifetime-free RuPay card. The same FAQ also says only a one-time joining fee applies, and the MITC puts that joining fee at ₹10,000 with the annual fee nil. The MITC further notes that actual fees are conveyed at the time of application. So the bank's own pages doesn't agree, and the only number that counts is the one on your offer.
We go by the MITC. That means we don't treat Platinum RuPay as a lifetime-free card, and this review shows payback years for the ₹10,000 case as well as what you'd gain if the fee is not charged.
What the card is for
It's a RuPay credit card, so it can be linked to UPI apps and used to pay shopkeepers by scanning a QR code. UPI spends earn 2 reward points per ₹100, double the 1 point on regular card swipes and online payments. Biometric authentication on UPI is supported for the payments up to ₹10,000. Fuel earns nothing, and utility, insurance, government and education spends earn a reduced 0.70 point per ₹100.
- Point value. ₹0.60 a point on non-cash redemptions (excluding airmiles) since 15 December 2024, when it was cut from ₹0.85, and ₹0.35 as cash credit.
- No lounges. No domestic lounge benefit, and the MITC says Priority Pass is not available on this card.
- Travel covers. Lost baggage up to ₹1,00,000, delayed baggage ₹25,000, loss of passport ₹50,000, lost ticket ₹25,000 and missed connection ₹25,000.
Status and recent changes
The card is active. Cash redemption was capped at 2,500 points a calendar month from 1 September 2024. The non-cash value cut followed on 15 December 2024, and from 1 April 2025 IndusInd started a ₹149 fee on each cash-credit redemption. The fuel surcharge waiver has been 1% on ₹400 to ₹4,000 fills with no cap since 5 May 2024. On 15 June 2026 late fees has moved to new slabs and fees were added on fuel above ₹30,000 a cycle, non-air transport above ₹40,000 and currency conversion at 2%.
Fees and charges on Platinum RuPay
Joining fee, annual fee and GST
The MITC lists ₹10,000 as joining fee and nil as the annual fee, with GST added at the current rate. At 18% the joining fee become ₹11,800 (₹10,000 plus ₹1,800). It is a one-time charge; there is nothing to pay at renewal and therefore no spend waiver to chase. Add-on cards are also nil.
Since IndusInd says actual fees are conveyed during application, two outcomes are possible. If the offer screen shows no joining fee, as the marketing suggest, the card costs nothing to hold it. If it shows ₹10,000, you are paying upfront for points that, as the examples show, take three to seven years to earn it back.
Interest and late fees
- Interest: 3.95% a month, 47.4% a year. A ₹15,000 balance rolled over for a month adds about ₹592.50 (3.95% of ₹15,000), before GST.
- Late fees from 15 June 2026 go by slab. For instance, ₹750 if ₹5,001 to ₹10,000 is outstanding, ₹1,100 for ₹25,001 to ₹50,000, and nil if it is ₹100 or less.
- IndusInd counts 3 grace days after the due date before charging the late fee or reporting you to credit bureaus as past due.
Cash, forex and conversion
A cash withdrawal costs 2.5% of the amount, with a ₹300 minimum, and interest is charged from that very day. Foreign currency spends carry a 3.5% mark-up plus GST, and since 15 June 2026 a 2% plus GST fee also applies when you pay in rupees at an international location or a merchant registered overseas. On ₹20,000 of such rupee payments that is ₹400 (2% of ₹20,000) before GST, so it is a card for India, not for trips.
Category fees, and one that is missing
The MITC says the rent fee will not be levied on Platinum RuPay, which is a real difference from most IndusInd cards where rent through third-party merchants cost 1% plus GST a transaction. What the bank doesn't spell out is what rent earns, so don't count on points there.
Other categories do carry a 1% plus GST fee above a statement-cycle total: utilities above ₹25,000, wallet loads above ₹20,000, education through third-party sites or apps above ₹45,000, fuel above ₹30,000 and non-air transport (MCC 4111, 4112, 4784, 4131) above ₹40,000, these last two since 15 June 2026. Smaller charges: over-limit 2.5% with a ₹500 minimum, a returned payment ₹250, cash payment at a branch ₹100, and reward redemption ₹149 for cash credit or ₹100 for other options.
Platinum RuPay: fees and charges
| Joining fee | ₹10,000 + GST |
|---|---|
| Annual or renewal fee | Nil |
| Annual fee waiver | No annual fee |
| Add-on card fee | Nil |
| GST | Charged on top of the fees and charges listed |
| In the bank’s words | MITC: Platinum RuPay Credit Card joining fee Rs.10,000, annual NIL, add-on NIL ('Actual Fees will be conveyed at the time of application'). Card page FAQ: 'only a one-time joining fee applicable; there is no annual fee' and 'Apply for the lifetime-free RuPay Credit Card now!'; listing page: 'Get Lifetime-Free Platinum RuPay Credit Card'. |
| Interest on unpaid balances | Up to 3.95% a month (47.4% a year) |
| Late payment fee | Effective 15 June 2026: outstanding up to Rs.100 NIL; Rs.101-500 Rs.100; Rs.501-1,000 Rs.500; Rs.1,001-5,000 Rs.600; Rs.5,001-10,000 Rs.750; Rs.10,001-25,000 Rs.900; Rs.25,001-50,000 Rs.1,100; above Rs.50,000 Rs.1,300 |
| Cash withdrawal | 2.5% of the advance amount subject to a minimum of Rs.300; interest from the date of the transaction until payment |
| Over-limit fee | 2.5% of over-limit amount subject to a minimum of Rs.500 |
| Forex markup | 3.5% of the amount |
| Other fees |
|
Rewards on Platinum RuPay, and what a point buys
| Spend | Points per ₹100 | At ₹0.60 non-cash | At ₹0.35 cash |
|---|---|---|---|
| UPI payments | 2 | 1.2% | 0.7% |
| Other card spends | 1 | 0.6% | 0.35% |
| Utility, insurance, government, education | 0.70 | 0.42% | 0.245% |
| Fuel | 0 | Nil | Nil |
UPI points are given only on spends up to your assigned credit limit in each statement cycle, a rule worth remembering if the limit is small. The card has no welcome gift or milestone, and IndusInd hasn't stated when points expire.
Which redemption to use
Nearly doubles the value non-cash redemption does, ₹0.60 against ₹0.35, and the fee is lower too, ₹100 against ₹149. Cash credit has a further limit of 2,500 points a calendar month, which is at most ₹875 (2,500 x ₹0.35) a month. Before December 2024 the non-cash rate was ₹0.85, so 10,000 points that once fetched ₹8,500 (10,000 x ₹0.85) now fetches ₹6,000 (10,000 x ₹0.60), ₹2,500 less. That cut has hurt very much to long-time holders.
The three examples below use the ₹0.60 non-cash value with one ₹100 redemption a year, and set the result against the one-time ₹11,800. Fuel savings from the 1% surcharge waiver are added where the fills sit inside the ₹400 to ₹4,000 range.
Light: ₹15,000 a month, mostly UPI
| Monthly spend | Working | Points |
|---|---|---|
| ₹10,000 UPI at shops | 100 x 2 | 200 |
| ₹4,000 card payments | 40 x 1 | 40 |
| ₹1,000 electricity bill | 10 x 0.70 | 7 |
| One year | (200 + 40 + 7) x 12 | 2,964 |
| Value at ₹0.60 | 2,964 x ₹0.60 | ₹1,778.40 |
| After one ₹100 redemption | ₹1,778.40 minus ₹100 | ₹1,678.40 |
At this level the ₹11,800 fee takes about 7 years to recover (₹11,800 ÷ ₹1,678.40 is 7.03). Taking cash instead would be worse, because a single cash redemption stop at 2,500 points, ₹875, and the ₹149 fee leaves ₹726.
Typical: ₹35,000 a month
| Monthly spend | Working | Points |
|---|---|---|
| ₹20,000 UPI | 200 x 2 | 400 |
| ₹10,000 online and swipes | 100 x 1 | 100 |
| ₹3,000 insurance and utilities | 30 x 0.70 | 21 |
| ₹2,000 fuel | Excluded | 0 |
| One year | (400 + 100 + 21) x 12 | 6,252 |
| Value at ₹0.60, after ₹100 fee | 6,252 x ₹0.60 minus ₹100 | ₹3,651.20 |
| Fuel surcharge waiver | 1% of ₹2,000 x 12 | ₹240 |
| Yearly total | ₹3,651.20 + ₹240 | ₹3,891.20 |
Payback on ₹11,800 comes in about 3 years (₹11,800 ÷ ₹3,891.20 is 3.03). If no joining fee is charged, the ₹3,891.20 is simply yours every year.
Heavy: ₹80,000 a month
| Monthly spend | Working | Points |
|---|---|---|
| ₹45,000 UPI | 450 x 2 | 900 |
| ₹25,000 online and swipes | 250 x 1 | 250 |
| ₹6,000 insurance and utilities | 60 x 0.70 | 42 |
| ₹4,000 fuel | Excluded | 0 |
| One year | (900 + 250 + 42) x 12 | 14,304 |
| Value at ₹0.60, after ₹100 fee | 14,304 x ₹0.60 minus ₹100 | ₹8,482.40 |
| Fuel surcharge waiver | 1% of ₹4,000 x 12 | ₹480 |
| Yearly total | ₹8,482.40 + ₹480 | ₹8,962.40 |
Here the joining fee is back in roughly 16 months (₹11,800 ÷ ₹8,962.40 is 1.32 years, and 1.32 x 12 is about 16). ₹45,000 of UPI a month is far inside NPCI's ₹1 lakh daily UPI limit, but your credit limit must allow it for the 2-point rate to apply on all of it.
Platinum RuPay: higher-reward categories
| Category | Rate | Cap |
|---|---|---|
| UPI transactions | 2 reward points per Rs.100, about 0.7% value | Points earned only for spends up to the assigned credit limit in each statement cycle, statement cycle |
Platinum RuPay: how rewards work
| Earned as | Reward Points |
|---|---|
| Base rate | 1 reward point per Rs.100 on non-UPI transactions. About 0.35% value back |
| Minimum spend rules | Not published by the bank |
| No rewards on |
|
| Lower rewards on |
|
| Value of a point |
|
| Redemption fee | Rs.149 for cash credit (from 1 April 2025); Rs.100 for other redemptions. Cash redemption capped at 2,500 points per calendar month. |
| Expiry | Not published by the bank |
| Welcome benefits | None published |
| Milestone benefits | None published |
| Lounge access | Domestic: None International: None (MITC: Priority Pass not available on Platinum RuPay) |
| Fuel surcharge waiver | 1% waiver on Rs.400 to Rs.4,000 transactions, no cap (w.e.f. 5 May 2024) |
| Insurance cover | Travel insurance: lost baggage Rs.1,00,000, delayed baggage Rs.25,000, loss of passport Rs.50,000, lost ticket Rs.25,000, missed connection Rs.25,000; Total Protect lost-card cover up to the credit limit |
Eligibility and how to apply
The Platinum RuPay page publishes no criteria of its own, so the general Indus Easy Credit rules from IndusInd's listing page apply. You should be 18 to 70 years old, have a net monthly income of ₹20,000 or above, salaried or running your own business, and hold a good CIBIL score. In yearly terms the income floor is ₹2,40,000 (₹20,000 x 12), which makes it one of the more reachable cards for first-jobbers.
Documents are minimal. The application are digital, with your Aadhaar number and PAN, and a proof of residence only if you now live somewhere other than your Aadhaar address. Video KYC complete the process. Once approved, IndusInd lets you generate a virtual card instantly and sends the physical card in about 5 days.
No income proof?
IndusInd's site links to a Credit Card Against FD, but its public pages do not say which card variant is issued against the deposit. We can't tell you whether it's this one, so discuss about it with the bank if a secured card is what you need.
What the bank checks
The RBI's 2025 card Directions make IndusInd assess your credit risk on your independent financial means, and count every credit limit you hold elsewhere before fixing yours. RBI sets no income or age floor of its own, that part is bank policy. You are entitled to a one-page Key Fact Statement with the application and, if declined, the specific reasons in writing. Approval is IndusInd's call, and no website or agent can promise it.
Using the card on UPI
After approval you can link the card to a UPI app and setting a UPI PIN. NPCI's rules allow only merchant payments on RuPay credit cards: no sending money to a person, and no cash withdrawals. The daily UPI cap is ₹1 lakh, ₹2 lakh for some merchant categories, always within your card's available limit, and linking itself is free.
Platinum RuPay: eligibility and documents
| Age (salaried) | 18 to 70 years (general criteria for Indus Easy Credit Cards; no card-specific age published) |
|---|---|
| Age (self-employed) | 18 to 70 years (general criteria for Indus Easy Credit Cards; no card-specific age published) |
| Income (salaried) | Net monthly income of at least Rs.20,000 (general criteria for Indus Easy Credit Cards) |
| Income (self-employed) | Net monthly income of at least Rs.20,000 (general criteria for Indus Easy Credit Cards) |
| Other conditions | All salaried and self-employed individuals can apply; 'You need to have a good CIBIL score'. These are the listing page's general Indus Easy Credit Card criteria; the card page publishes none of its own. |
| Documents |
|
| How to apply | Online through Indus Easy Credit (induseasycredit.indusind.bank.in): enter basic details, choose a card offer, sign digitally and complete Video KYC; no physical documents for the online process. Virtual card on approval; physical card in about 5 days. |
| Card customer care | 1860 267 7777 |
These are the bank's published conditions. Meeting them does not guarantee a card: approval and the credit limit are the bank's decision.
Who gains from Platinum RuPay
The card suit somebody who already pays the kirana shop, the chemist and the cab driver's merchant QR by UPI and would like points for it. At 2 points per ₹100 and ₹0.60 a point, UPI spend returns 1.2%, which is decent for an everyday card with no annual fee. Add a fuel surcharge waiver with no cap and travel covers like missed connection, and it is a tidy package for India.
The catch is the joining fee. If your offer carries the ₹10,000 the MITC lists, a light spender needs about 7 years to recover it, and even our typical spender needs about 3. In that case a cheaper UPI card does the same job. If the fee is waived on your offer, the maths changes completely and the card become an easy keep.
Who should skip it
Skip it if you want cash back on your statement, since ₹0.35 a point is low and capped at 2,500 points a month. Skip it if you travel abroad, because a 3.5% mark-up and a 2% conversion fee are heavy. And skip it if lounges matter to you, as there are none at all.
The trade-offs
The bank's mixed messages on fees is the biggest weakness, along with a value cut in 2024 that took non-cash points from ₹0.85 down to ₹0.60. On the plus side you get no annual fee, no rent fee, a free fuel waiver with no cap and an easy income bar. Interest of 3.95% a month is among IndusInd's highest, so it's not a card to carry a balance on. A card for paying in full, every month.
Pros
- 2 reward points per ₹100 on UPI, worth 1.2% at the ₹0.60 non-cash value
- No annual fee, and the MITC levies no rent fee on this card
- 1% fuel surcharge waiver on ₹400 to ₹4,000 fills with no monthly cap
- Travel covers including lost baggage up to ₹1,00,000 and missed connection ₹25,000
- Low entry bar: IndusInd's general rule of ₹20,000 net monthly income
Cons
- The MITC lists a ₹10,000 joining fee plus GST, though IndusInd markets the card as lifetime free
- Cash credit is only ₹0.35 a point, capped at 2,500 points a month, with a ₹149 fee
- Non-cash value cut from ₹0.85 to ₹0.60 a point on 15 December 2024
- No lounge access, a 3.5% forex mark-up and a 2% plus GST currency conversion fee
- Interest of 3.95% a month (47.4% a year) and no points on fuel
Other RuPay cards for UPI
All three below work on UPI. They differ on fee, on how points are valued and on who can get them.
Kotak UPI RuPay
The Kotak UPI RuPay card has no joining or annual fee and earns 3 points per ₹100 on UPI and regular spends alike. Its points are worth ₹0.10 on Kotak's catalogue and only ₹0.07 as cash value since 1 June 2025, so the return is 0.3% at best (3 x ₹0.10). It is a virtual-only card, issued only to existing Kotak credit card holders, with no cash advance facility, points that expire after 2 years and a 3.5% forex mark-up.
HDFC Bank UPI RuPay
The HDFC UPI RuPay card costs ₹99 plus taxes, with the renewal waived from the second year on ₹25,000 of annual spend. HDFC lists 3% CashPoints on groceries, supermarkets, dining and PayZapp, 2% on utilities and 1% on other spends, each bucket capped at 500 CashPoints a month, and a CashPoint is worth ₹0.25 against the statement. It is virtual-only too, has no lounge access, and CashPoints lapse after 2 years.
ICICI Bank Coral
The ICICI Coral RuPay card charges ₹500 plus GST, and the fee for a year is reversed when you spend ₹1.5 lakh in that year, though the card page words it as a waiver for the next year. It earns 2 points per ₹100 on retail spend, but a point value is not publish on ICICI's current pages. It adds 1 domestic airport lounge visit a quarter after ₹75,000 of spend in the previous quarter, 4 railway lounge visits a year and milestone points from ₹2 lakh of yearly spend.
Picking one
If IndusInd waives the joining fee for you, Platinum RuPay's 1.2% on UPI is the strongest of the four on paper. If not, HDFC UPI RuPay is the cheap everyday choice for most of peoples, Coral suits someone who wants a physical card with a lounge visit, and Kotak's card is a free add-on for people already with Kotak.
More on the lender in our IndusInd Bank credit cards guide, help lines at IndusInd customer care, and a wider list in best credit cards for UPI and the credit cards hub.
Platinum RuPay against similar cards
| Term | IndusInd Bank Platinum RuPay Credit Card This card | Kotak UPI RuPay Credit Card | HDFC Bank UPI RuPay Credit Card | ICICI Bank Coral Credit Card |
|---|---|---|---|---|
| Bank | IndusInd Bank | Kotak Mahindra Bank (Kotak) | HDFC Bank | ICICI Bank |
| Joining fee | ₹10,000 + GST | Nil | ₹99 + GST | ₹500 + GST |
| Annual fee and waiver | Nil | Nil | ₹99 + GST. Spend ₹25,000 or more annually before the renewal date and get a renewal fee waiver from the second year onwards. | ₹500 + GST. Spend over ₹1.5 lakh and get annual fee waived off for the next year (card page); MITC footnote *** says the fee for the year is reversed on anniversary-year completion |
| Base reward | 1 reward point per Rs.100 on non-UPI transactions (about 0.35% value) | 3 Reward Points per ₹100 spent, on UPI and regular... | 1% CashPoints on other spends, up to 500 CashPoints a calendar month (about 1% value) | 2 reward points per ₹100 on retail spend |
| Best category | UPI transactions: about 0.7% value | No higher-reward category published | Groceries and supermarkets, dining and all PayZapp transactions: about 3% value | No higher-reward category published |
| Lounges | Domestic: None International: None (MITC: Priority Pass not available on Platinum RuPay) | Not published by the bank | Domestic: None International: None | Domestic: 1 domestic airport lounge access per quarter (primary cardholder) on ₹75,000 spend in the preceding quarter; 4 railway lounge accesses a year (1 per quarter) International: None |
| Forex markup | 3.5% of the amount | 3.5% of the amount | 3.5% of the amount | 3.5% of the amount |
| Network | RuPay | RuPay | RuPay | RuPay |
| Published minimum income | ₹20,000 a month | Not published by the bank | ₹35,000 a month | ₹20,000 a month |
| Status | Taking applications | Taking applications | Taking applications | Taking applications |
Frequently asked questions
Is the IndusInd Platinum RuPay card lifetime free?
How much are Platinum RuPay reward points worth?
Who is eligible for the Platinum RuPay card?
Does the Platinum RuPay card have lounge access or low forex?
What changed on IndusInd Platinum RuPay recently?
Do UPI payments earn more than card swipes on Platinum RuPay?
Related
- IndusInd Bank Credit Cards 2026: Fee Plans, Exits and New Charges
- Kotak UPI RuPay Credit Card Review: Free, Virtual, Light on Rewards
- HDFC Bank UPI RuPay Credit Card Review: ₹99 Fee, Points Worth 25 Paise
- ICICI Bank Coral Credit Card Review: A ₹500 First Card That Works on UPI
- Best UPI Credit Cards in India 2026: RuPay Cards That Pay Back
Sources
- IndusInd Bank: IndusInd Bank Credit Card Most Important Terms & Conditions (MITC_Premium.pdf, PDF created 13 Oct 2026); Terms and Conditions: Cash Credit (RuPay); Platinum RuPay Credit Card page (FAQ); Credit Card listing page; Platinum RuPay Credit Card page; Information on Fuel Surcharge Waiver (w.e.f. 5 May 2024); Revision in IndusInd Bank Credit Card Rewards Program; Credit Card listing page: Eligibility Criteria to Apply for Credit Card
Last verified: 5 November 2026
Written by Abhishek Kumar, reviewed by BankCreds Financial Experts
BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.