IndusInd Bank Tiger Credit Card Review: Nil Fees, Rising Reward Slabs
The IndusInd Bank Tiger Credit Card, a co-brand with Tiger Fintech of the Bajaj Capital Group, lists no joining or annual fee in the bank's MITC, though IndusInd confirms the actual fee when you apply. Points climb from 1 to 6 per ₹100 as your yearly spend crosses ₹1 lakh, ₹2.5 lakh and ₹5 lakh, each point worth ₹0.40, and the card adds a 1.5% forex markup and 2 domestic lounge visits a quarter. It pays well only once you spend more than ₹2.5 lakh a year.
Key facts
- Joining fee
- Nil
- Annual fee
- Nil
- Base reward
- 1 reward point per Rs.100 on annual spends up to Rs.1,00,000 (slab multiplier 1) (about 0.4% value)
- Best category
- Annual spends above Rs.5,00,000: about 2.4% value
- Lounge
- Domestic: 2 complimentary domestic lounge visits per calendar quarter International: 2 complimentary international lounge visits per year with Priority Pass
- Forex markup
- 1.5% of the amount
- Network
- Not stated by the bank
Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.
In short
A sound free card for people who spend ₹2.5 lakh or more a year and travel now and then, since the 1.5% forex markup and lounge visits cost nothing to keep, while light spenders earn only 0.4% and lose much of it to redemption fees.
Best for
- People spending over ₹2.5 lakh a year who want higher points without a fee
- Occasional foreign travellers who value a 1.5% forex markup
- Applicants with a net monthly income of ₹20,000 or more
Skip it if
- You spend under ₹1 lakh a year, where points stay at 0.4% before redemption fees
- Most of your spending is fuel, rent, utilities or insurance
- You want simple cashback with no slabs to track
Highlights
- Nil joining, annual and add-on fee in the MITC
- 1, 2, 4 and 6 points per ₹100 across yearly spend slabs
- 1 point = ₹0.40 as cash credit or IndusMoments vouchers
- 2 domestic lounge visits a quarter and 2 Priority Pass visits a year
- 1.5% forex markup and 3.5% monthly interest
What the Tiger card is and who it suits
The Tiger Credit Card is a co-branded card that IndusInd Bank issues with Tiger Fintech Private Limited, a Bajaj Capital Group company. Its pitch is simple enough: the bank's MITC shows no joining or annual fee, and the reward rate goes up the more you spends in a card year. IndusInd's terms also say the actual fee are told to you during the application, so read the offer screen before you sign anything.
Three things decide whether its worth keeping. The slabs pay 1, 2, 4 and then 6 points per ₹100 as the year's spend passes ₹1 lakh, ₹2.5 lakh and ₹5 lakh. A point is worth ₹0.40 as cash credit or IndusMoments vouchers, but each redemption has a fee. And for travel there's a 1.5% forex markup, 2 domestic lounge visits a calendar quarter and 2 Priority Pass visits a year, with no spend condition published for Tiger.
So who is it for? Somebody who puts most of the household spending on one card and crosses ₹2.5 lakh in the year gets the most out of it. That is ₹20,833 a month (₹2,50,000 divided by 12). Below ₹8,333 a month (₹1,00,000 divided by 12) you never leave the first slab, and the return stay at 0.4% for the whole year.
Status and changes since 2024
The card is active and open to new applicants through IndusInd's online Indus Easy Credit journey. The card page doesn't name the network. These are the changes that matter:
- From 5 May 2024 the fuel surcharge waiver covers fills of ₹400 to ₹4,000, with no cap on it.
- From 1 September 2024 cash redemption is limited to 5,000 points in a calendar month.
- From 1 April 2025 a cash credit redemption cost ₹149 each time, and other redemptions ₹100.
- Air accident insurance on IndusInd cards was stop from 21 December 2025.
- From 15 June 2026 there are new late fee slabs, 1% plus GST on fuel above ₹50,000 and on non-air transport above ₹40,000 in a statement cycle, and 2% plus GST on dynamic currency conversion.
Tiger fees and charges, explained
The MITC puts the Tiger card's joining fee, annual fee and add-on fee at nil. There is no waiver target to chase and no GST on a membership fee, which makes it a easy card to hold as a backup even in months you hardly use it.
One caution. IndusInd's terms say the bank tells you the real fee while you apply, and joining gifts come only with certain paid plans, so the figure on your offer screen is the one that applies. No welcome gift is listed for Tiger.
Interest and paying late
Interest is 3.5% a month, or 42% a year, lower than the 3.95% a month IndusInd charge on its Platinum and Legend cards. GST at 18% is added on interest and charges. Interest builds daily, so carrying ₹20,000 for 30 days costs about ₹690 (₹20,000 times 42% times 30 divided by 365), plus about ₹124 of GST (18% of ₹690). Once a balance is carried, new purchase also lose the interest-free period.
The late fee slabs in force since 15 June 2026 run from nil on a due of up to ₹100 to ₹1,300 when more than ₹50,000 is due; a ₹15,000 due paid late cost ₹900. IndusInd allows 3 grace days after the due date before it adds a late fee or reports the account as past due.
Cash, forex and category fees
- Cash advance: 2.5% with a ₹300 minimum, and interest from the day you withdraw. Take ₹10,000 and 2.5% is ₹250, so you pay the ₹300 minimum.
- Forex markup: 1.5% plus GST. ₹40,000 spent abroad adds ₹600 (1.5% of ₹40,000), against ₹1,400 on an IndusInd card at the standard 3.5%.
- Dynamic currency conversion: 2% plus GST from 15 June 2026 when you pay in rupees abroad or to a merchant registered overseas, so always pick the local currency at the terminal, it is cheaper on this card.
- Rent through third-party merchants: 1% plus GST on every payment.
- Utilities above ₹25,000, wallet loads above ₹20,000 and education paid through third-party sites above ₹45,000 in a statement cycle: 1% plus GST.
- Fuel above ₹50,000 and transport other than air (MCCs 4111, 4112, 4784, 4131) above ₹40,000 in a cycle: 1% plus GST, both from 15 June 2026.
- Over-limit: 2.5% of the excess, minimum ₹500. Returned payment ₹250, cash payment at a branch ₹100.
Tiger: fees and charges
| Joining fee | Nil |
|---|---|
| Annual or renewal fee | Nil |
| Annual fee waiver | No joining or annual fee (MITC: NIL / NIL) |
| Add-on card fee | Nil |
| GST | Charged on top of the fees and charges listed |
| In the bank’s words | MITC: IndusInd Bank Tiger Credit Card (Co-Brand Credit Card with Tiger Fintech - A Bajaj Capital Group company): joining NIL, annual NIL, add-on NIL. |
| Interest on unpaid balances | Up to 3.5% a month (42% 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 | 1.5% of the amount |
| Other fees |
|
How Tiger points build up
Tiger pays reward points on a ladder that runs over your card anniversary year. Only the spend inside a slab earn that slab's rate; nothing is paid again backwards. So the first ₹1 lakh always earns 1 point per ₹100, and the later slabs are worth 0.8%, 1.6% and 2.4% at ₹0.40 a point.
The rupee values comes from IndusInd's rate of ₹0.40 a point for cash credit and IndusMoments vouchers. 4 points also make 1 KrisFlyer mile, but the bank puts no rupee value on a mile. IndusInd's example says ₹6 lakh in a year earns 20,000 points, and the maths holds: 1,000 on the first ₹1 lakh, 3,000 on the next ₹1.5 lakh, 10,000 on the ₹2.5 lakh after that and 6,000 on the last ₹1 lakh. That's ₹8,000 (20,000 times ₹0.40), about 1.33% of ₹6 lakh.
What earns less, or nothing
- Fuel earns no points at all.
- Utility bills, insurance premiums, government services, educational institutes, real estate and rent don't gets the higher slab rates.
- IndusInd says reward points are capped up to the credit limit, without explaining further.
- No expiry is published for Tiger points, so watch your statement for any lapse date.
Redemption fees, and why they matter here
Each redemption costs ₹149 for cash credit (since 1 April 2025) or ₹100 for vouchers and other options. Cash credit is also capped at 5,000 points a calendar month, ₹2,000 (5,000 times ₹0.40), and IndusInd's general terms allow only half the balance as cash. Redeem in big lots, as a small redemption lose a big share to the fee.
Other perks is also there: one complimentary BookMyShow ticket up to ₹500 every 6 months in a financial year, and 1 golf game or lesson every quarter. There are no welcome or milestone benefits; the slabs do that job.
Three worked examples
Fuel earns nothing, so it stays out of the points, and rent and bills are left out. With a nil fee, the value is yours less the redemption fee.
| Spender | Monthly spend split | Spend earning points a year | Points a year | Value at ₹0.40 |
|---|---|---|---|---|
| Light, ₹10,000 a month | Groceries ₹3,000, shopping ₹3,000, dining ₹2,000, fuel ₹2,000 | ₹96,000 | 960 | ₹384 |
| Typical, ₹25,000 a month | Groceries ₹7,000, shopping ₹6,000, travel ₹5,000, dining ₹4,000, fuel ₹3,000 | ₹2,64,000 | 4,560 | ₹1,824 |
| Heavy, ₹60,000 a month | Shopping ₹12,000, groceries ₹10,000, travel ₹10,000, other ₹10,000, dining ₹8,000, foreign spends ₹5,000, fuel ₹5,000 | ₹6,60,000 | 23,600 | ₹9,440 |
Light: ₹8,000 a month earns once fuel is out, ₹96,000 a year (₹8,000 times 12), all in the first slab: 960 points (₹96,000 divided by 100), worth ₹384. A voucher redemption at ₹100 leaves ₹284; cash credit at ₹149 leave ₹235. Fills of ₹400 to ₹4,000 also skip the 1% surcharge, about ₹240 on ₹24,000 of yearly fuel, so the year is worth roughly ₹524 (₹284 plus ₹240) against a nil fee.
Typical: ₹22,000 a month earns, or ₹2,64,000 in the year. The first ₹1,00,000 gives 1,000 points, the next ₹1,50,000 gives 3,000 at 2 per ₹100, and the last ₹14,000 reach the 4-point slab for 560 more. Total 4,560 points, ₹1,824, or ₹1,724 after a voucher redemption, about 0.69% (₹1,824 divided by ₹2,64,000). The surcharge waiver adds about ₹360 (1% of ₹36,000), and no fee comes off.
Heavy: ₹55,000 a month earns, ₹6,60,000 a year. Points: 1,000 plus 3,000 plus 10,000 (₹2,50,000 at 4 per ₹100) plus 9,600 (₹1,60,000 above ₹5 lakh at 6 per ₹100), so 23,600 points, worth ₹9,440 or about 1.43% (₹9,440 divided by ₹6,60,000). Vouchers make sense here, one ₹100 fee against at least five cash redemptions of ₹149 under the monthly cap. The ₹60,000 of yearly foreign spends also save ₹1,200 of markup against a 3.5% card (2% of ₹60,000), and there is no annual fee to set against it.
Tiger: higher-reward categories
| Category | Rate | Cap |
|---|---|---|
| Annual spends Rs.1,00,001 to Rs.2,50,000 (incremental) | 2 reward points per Rs.100, about 0.8% value | Reward points capped up to the credit limit, card anniversary year |
| Annual spends Rs.2,50,001 to Rs.5,00,000 (incremental) | 4 reward points per Rs.100, about 1.6% value | card anniversary year |
| Annual spends above Rs.5,00,000 (incremental) | 6 reward points per Rs.100, about 2.4% value | card anniversary year |
Tiger: how rewards work
| Earned as | Reward Points |
|---|---|
| Base rate | 1 reward point per Rs.100 on annual spends up to Rs.1,00,000 (slab multiplier 1). About 0.4% value back |
| Minimum spend rules | Slabs are measured on spends in the card anniversary year; incremental spends in each slab earn that slab's multiplier |
| 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 5,000 points per calendar month. |
| Expiry | Not published by the bank |
| Welcome benefits | None published |
| Milestone benefits | None published |
| Lounge access | Domestic: 2 complimentary domestic lounge visits per calendar quarter International: 2 complimentary international lounge visits per year with Priority Pass Condition: No spend criterion published for Tiger (not in the April 2026 spend-criteria list); Priority Pass usage fees apply after complimentary visits |
| Fuel surcharge waiver | 1% waiver on Rs.400 to Rs.4,000 transactions, no cap (w.e.f. 5 May 2024) |
| Insurance cover | Total Protect lost-card cover up to the credit limit. Air accident insurance discontinued on IndusInd cards from 21 Dec 2025. |
Who can apply for Tiger, and how
The Tiger card page publish no criteria of its own. IndusInd's credit card listing gives general rules for its Indus Easy Credit cards, and these are what applies:
- Age 18 to 70 years, for salaried and self-employed applicants alike.
- Net monthly income of at least ₹20,000, which works out to ₹2,40,000 a year (₹20,000 times 12).
- A good CIBIL score, as the bank puts it, without naming a number.
Documents and the online journey
The whole application is digital, with no physical papers. Keep your Aadhaar number and PAN handy, and a proof of residence only if you live somewhere other than your Aadhaar address. On Indus Easy Credit you enter basic details, choose the card offer, sign digitally and finish Video KYC. After approval a virtual card can be generate straight away, and the physical card arrives in about 5 days.
Why the video call? RBI's KYC rules treat Video KYC like a face-to-face check, while an account opened on Aadhaar OTP e-KYC alone can only be a term loan of up to ₹60,000 a year. A card is revolving credit, so it need full KYC.
What IndusInd will look at
The RBI asks issuers to judge your own financial means and the limits you already holds with other lenders, using your declaration or bureau data. It doesn't fix a minimum age or income; IndusInd does that. On Experian's 300 to 900 scale, above 750 is generally seen as good. If the bank turns you down, it has to give you the specific reasons in writing.
Approval is IndusInd's call alone, and nobody outside the bank can promise it. For questions, the 24-hour phone banking number is 1860 267 7777, and our IndusInd Bank customer care page lists the other ways to reach them.
Tiger: 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 Tiger, and who doesn't
Tiger works best as the main card for somebody spending ₹25,000 to ₹60,000 a month on ordinary things like groceries, shopping, dining and travel. At that level you climb into the 4-point or 6-point slab, and our examples show the return moving from about 0.69% to 1.43% for no fee. Occasional foreign trips adds to the case, because a 1.5% markup is well under the 3.5% most IndusInd cards charge. The lounge visits also come with no published spend rule, unlike several IndusInd cards since April 2026.
Light users should think two times before applying. Under ₹1 lakh a year you stay at 0.4%, and a ₹100 or ₹149 redemption fee eats a big part of a small balance. If fuel is a large part of your budget, it earns nothing here, and past ₹50,000 of fuel in a cycle there's a 1% fee on top. People who want a flat percentage back on everything will find the slabs a irritation to track.
The trade-offs
You give up simplicity for a rate that rewards loyalty. The network, point expiry and card-specific eligibility aren't published, so a few things stays unclear until you apply, and air accident cover has gone, though lost-card cover up to your limit remains. With no fee the downside is small: under RBI rules the bank must close a card within seven working days of your request once dues are paid.
Pros
- Nil joining, annual and add-on fees in the MITC, so there is no spend target to meet
- Points rise to 6 per ₹100, about 2.4%, on yearly spends above ₹5 lakh
- 1.5% forex markup, well below the 3.5% IndusInd charges on most cards
- 2 domestic lounge visits a quarter and 2 Priority Pass visits a year, with no spend condition published
- Fuel surcharge waiver on fills of ₹400 to ₹4,000 with no cap
- Interest of 3.5% a month, lower than on many IndusInd cards
Cons
- Only 1 point per ₹100, about 0.4%, on the first ₹1 lakh of yearly spends
- Redemption fee of ₹149 for cash credit and ₹100 for other options
- Cash redemption capped at 5,000 points a calendar month
- No points on fuel, and no higher slab rates on utilities, insurance, rent or education
- Card network, point expiry and card-specific eligibility are not published
- Air accident insurance discontinued from 21 December 2025
Tiger against other free travel-friendly cards
Three lifetime-free cards that also give lounges or cheap forex are the fair comparison. The table lines up the features; this is how they differ in use.
Tiger or IDFC FIRST Select
IDFC FIRST Select is lifetime free too, and its forex markup is zero since the bank's notice of 9 September 2026. It gives 3 points per ₹200 on most spends and 10 on dining, travel and your birthday, at ₹0.25 a point, so 0.375% and 1.25%. International spends earn no points on it since 26 October 2026, and its 1 domestic lounge visit a quarter needs ₹20,000 of spend in the month before. The big difference come in income, ₹12 lakh a year against Tiger's ₹20,000 a month. Pick FIRST Select if you travel abroad a lot and eat out often; Tiger, if your spending is spread wide and cross ₹2.5 lakh.
Tiger or Scapia Federal
Scapia Federal gives 10% in Scapia Coins on Visa purchases of ₹20 and above, and 20% on travel booked in the Scapia app. At 5 coins to ₹1 that is about ₹2 and ₹4 per ₹100, but only when the coins is spent on travel in the same app. Forex is zero and domestic lounges are unlimited after ₹20,000 of spend in a billing cycle; Scapia's homepage says Visa and RuPay spends combine for that, its cardholder agreement says they can't. No international lounge. Our Scapia charges come from a November 2024 MITC, so check Federal Bank's current MITC. People who books all travel in one app should look at Scapia; Tiger suits people who want cash credit or vouchers.
Tiger or IDFC FIRST Wealth
IDFC FIRST Wealth is the bank's lifetime-free Visa Infinite card. It adds 1 international lounge visit a quarter to 1 domestic, each needing ₹20,000 of spend the month before, with zero forex and wider insurance, but it wants ₹36 lakh a year of income. Its earn rates is the same as FIRST Select. High earners who fly abroad every quarter get more from Wealth; for most salaried readers, Tiger's ₹20,000 a month entry is the realistic one.
For a wider choice, see lifetime-free cards and cards for airport lounge access, the full IndusInd Bank credit cards range, or start at our credit cards hub.
Tiger against similar cards
| Term | IndusInd Bank Tiger Credit Card This card | FIRST Select Credit Card | Scapia Federal Credit Card | FIRST Wealth Credit Card |
|---|---|---|---|---|
| Bank | IndusInd Bank | IDFC FIRST Bank | Federal Bank | IDFC FIRST Bank |
| Joining fee | Nil | Nil | Nil | Nil |
| Annual fee and waiver | Nil | Nil | Nil | Nil |
| Base reward | 1 reward point per Rs.100 on annual spends up to Rs.1,00,000 (slab multiplier 1) (about 0.4% value) | 3X Reward Points on eligible spends (about 0.375% value) | Visa card: 10% rewards on every purchase of Rs (about 2% value) | 3X Reward Points on eligible spends (about 0.375% value) |
| Best category | Annual spends above Rs.5,00,000: about 2.4% value | Hotel bookings via 'FIRST Rewards Gallery' in the IDFC FIRST Bank app: about 5% value | Travel booked on the Scapia app: about 4% value | Hotel bookings via 'FIRST Rewards Gallery' in the IDFC FIRST Bank app: about 5% value |
| Lounges | Domestic: 2 complimentary domestic lounge visits per calendar quarter International: 2 complimentary international lounge visits per year with Priority Pass | Domestic: 1 complimentary domestic airport lounge visit every quarter; 4 complimentary railway lounge visits every quarter International: None (domestic airports in India only) | Domestic: Unlimited domestic lounge access, or (Airport Privileges) dining, shopping or spa at domestic airports reimbursed in coins up to ₹1,000 per visit at metro airports and ₹500 at smaller airports (Scapia blog). International: No international lounge benefit stated. International airport privilege: up to ₹2,000 back in coins at international terminals in India after an international flight booking on the Scapia app of ₹40,000 (homepage) or ₹50,000 (May 2026 blog). | Domestic: 1 complimentary domestic airport lounge visit a quarter; 4 complimentary railway lounge visits (the bank states this both per quarter and per year) International: 1 complimentary global airport lounge visit every quarter (with the DreamFolks card) |
| Forex markup | 1.5% of the amount | 0% (no markup) | 0% (no markup) | 0% (no markup) |
| Network | Not stated by the bank | Not stated by the bank | Visa, RuPay | Visa |
| Published minimum income | ₹20,000 a month | ₹1,00,000 a month | Not published by the bank | ₹3,00,000 a month |
| Status | Taking applications | Taking applications | Taking applications | Taking applications |
Frequently asked questions
Is the IndusInd Tiger Credit Card lifetime free?
How much is an IndusInd Tiger reward point worth?
Who is eligible for the IndusInd Tiger Credit Card?
Does the Tiger card have lounge access and a low forex markup?
What changed on the IndusInd Tiger card in 2026?
How do the Tiger reward slabs work?
Related
- IndusInd Bank Credit Cards 2026: Fee Plans, Exits and New Charges
- FIRST Select Credit Card Review: A Free Card With a Quarterly Lounge
- Scapia Federal Credit Card Review: Zero Forex, Coins Only for Travel
- FIRST Wealth Credit Card Review: Free for Life, Plus a Global Lounge
- Best Lifetime Free Credit Cards in India 2026: Zero Fee in the MITC
- Indusind bank
Sources
- IndusInd Bank: IndusInd Bank Credit Card Most Important Terms & Conditions (MITC_Premium.pdf, PDF created 13 Oct 2026); Domestic Airport Lounge Access terms (spend criteria from 1 Apr 2026); Tiger Credit Card page; Important Updates Reward Points Program (monthly cash redemption caps, w.e.f. 1 Sep 2024); Credit Card listing page: Eligibility Criteria to Apply for Credit Card
Last verified: 5 November 2026
Written by Pankaj Pandey, 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.