Is the IndusInd Platinum RuPay Credit Card your ticket to effortless UPI rewards and travel perks? Uncover its lifetime-free benefits, hidden insurance gems, and how it stacks up against rivals. Dive in to reveal if this card unlocks your ultimate spending power!
The IndusInd Bank Platinum RuPay Credit Card is an entry-level, lifetime-free credit card designed to cater to modern consumers seeking convenience and value through digital transactions, particularly via UPI (Unified Payments Interface). Launched on the RuPay payment network, it combines the flexibility of credit card transactions with the ease of UPI payments, making it a compelling option for those prioritizing cost-effective rewards and seamless digital payment experiences. With no joining or annual fees, this card targets individuals looking for basic credit card benefits without recurring costs. It offers rewards on both UPI and non-UPI transactions, travel insurance, fuel surcharge waivers, and fraud protection, positioning it as a practical choice for everyday spending and travel.
Review
The IndusInd Platinum RuPay Credit Card stands out for its simplicity and accessibility. As a lifetime-free card, it eliminates the financial burden of annual fees, making it appealing to first-time credit card users or those seeking a low-maintenance option. Its integration with UPI apps like BHIM, Google Pay, PhonePe, and Paytm enhances its utility, allowing cardholders to make quick, secure payments without carrying a physical card. The card’s reward structure, though not the most lucrative, provides decent value for UPI transactions, and its travel insurance coverage adds a layer of security for frequent travelers. However, the card lacks premium perks like lounge access or high reward rates, which may disappoint users with higher spending habits or those seeking luxury benefits. Overall, it’s a solid choice for budget-conscious consumers who value UPI compatibility and basic rewards.
- Joining Fees: Nil
- Annual Fees: Nil
- Lifetime Free Credit Card
- Travel insurance coverage worth 2.25L
- 2 Reward points on every Rs 100 spent on UPI transactions
Rewards and Benefits
The IndusInd Platinum RuPay Credit Card offers a straightforward rewards program and a range of benefits tailored to everyday spending and travel needs:
- Reward Points:
- UPI Transactions: Earn 2 reward points for every ₹100 spent via UPI transactions. Each reward point is valued at ₹0.35 for cash redemption, yielding a 0.7% return. For non-cash redemptions (excluding airmiles), effective from December 15, 2024, 1 reward point equals ₹0.60, increasing the return to 1.2% for UPI spends.
- Non-UPI Transactions: Earn 1 reward point per ₹100 spent, translating to a 0.35% return for cash redemption or 0.6% for non-cash redemption.
- Redemption Options: Points can be redeemed for cash credit, vouchers, or products via the IndusMoments portal. Airmiles conversion is available with partners like Club Vistara (1:1 ratio) and KrisFlyer (4:1 ratio), though InterMiles redemption will cease by January 21, 2025. A redemption fee of ₹100 applies.
- Limitations: Maximum 2,500 reward points can be redeemed for cash per calendar month (effective September 1, 2024). Fuel spends do not earn rewards, and utility, insurance, government services, and education spends earn reduced rates.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 and ₹4,000 at petrol pumps across India, capped at ₹100 per billing cycle.
- Travel Insurance: Comprehensive coverage through Oriental Insurance Company, including:
- Lost baggage: ₹1 lakh
- Delayed baggage: ₹25,000
- Loss of passport: ₹50,000
- Lost ticket: ₹25,000
- Missed connection: ₹25,000
- Personal accident insurance: Up to ₹25 lakh
- Total Protect Program: Covers unauthorized transactions, card loss, theft, and counterfeit fraud up to the credit limit, providing protection for up to 48 hours before reporting a loss.
- UPI Compatibility: Link the card to popular UPI apps for seamless digital payments. The process involves selecting the card in the UPI app, generating a UPI PIN, and verifying via OTP.
- Contactless Payments: Supports tap-and-pay transactions for quick and secure purchases at compatible merchants.
Fees and Charges
The IndusInd Platinum RuPay Credit Card is designed to be cost-effective, with no joining or annual fees. However, other charges apply:
- Joining Fee: ₹0 (Lifetime free)
- Annual Fee: ₹0 (Lifetime free)
- Interest Rate: 3.83% per month (46% per annum) on unpaid balances.
- Cash Advance Fee: 2.5% of the transaction amount or ₹300, whichever is higher.
- Over-Limit Fee: 2.5% of the over-limit amount or ₹500, whichever is higher.
- Late Payment Fee:
- ₹100 for amounts up to ₹100
- ₹100–₹1300 based on the unpaid amount (e.g., ₹350 for ₹501–₹1,000, ₹1,300 for amounts above ₹50,000)
- Foreign Currency Markup Fee: 3.5% on international transactions.
- Rewards Redemption Fee: ₹100 per redemption.
- Utility Payment Fee: 1% fee for utility payments exceeding ₹25,000.
Pros
- Lifetime Free: No joining or annual fees, making it cost-effective for long-term use.
- UPI Integration: Seamless linking with UPI apps enhances convenience for digital payments.
- Decent Rewards on UPI: 2 reward points per ₹100 spent on UPI transactions offer a reasonable 0.7–1.2% return.
- Travel Insurance: Comprehensive coverage for baggage, passport, and accidents adds value for travelers.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions provides modest savings.
- Fraud Protection: Total Protect program ensures security against unauthorized transactions.
Cons
- Low Reward Rates: 0.7% (UPI) and 0.35% (non-UPI) for cash redemption are lower than competitors like AU InstaPay or Tata Neu cards.
- No Lounge Access: Lacks premium perks like airport lounge access, limiting appeal for frequent travelers.
- Limited Reward Redemption: Capped at 2,500 points per month for cash redemption and a ₹100 redemption fee reduce flexibility.
- High Interest Rate: 46% per annum is steep for carrying a balance.
- No Specific Lifestyle Benefits: Lacks perks for dining, movies, or shopping, unlike some peer cards.
- Utility Payment Fees: 1% fee on utility payments above ₹25,000 adds costs for high spenders.
Comparison with Peers
The following table compares the IndusInd Platinum RuPay Credit Card with other entry-level RuPay credit cards available in India in 2025, focusing on key features, rewards, fees, and benefits:
|
Feature |
IndusInd Platinum RuPay |
AU InstaPay RuPay |
Tata Neu Plus RuPay |
PNB Platinum RuPay |
SBI Reliance Platinum RuPay |
|
Annual Fee |
₹0 (Lifetime free) |
₹0 (Lifetime free) |
₹499 (waived on ₹30,000 annual spend) |
₹0 (Lifetime free) |
₹499 (waived on ₹1,00,000 annual spend) |
|
Joining Fee |
₹0 |
₹0 |
₹499 |
₹0 |
₹550 |
|
Reward Rate (UPI) |
2 RP/₹100 (0.7–1.2%) |
1% cashback |
5% NeuCoins (up to ₹500/month) |
2 RP/₹100 |
5 RP/₹100 at Reliance stores |
|
Reward Rate (Non-UPI) |
1 RP/₹100 (0.35–0.6%) |
0.25% cashback |
2% NeuCoins |
1 RP/₹100 |
1 RP/₹100 |
|
Fuel Surcharge Waiver |
1% (₹400–₹4,000, max ₹100) |
1% (₹500–₹4,000) |
1% (₹500–₹3,000) |
1% (up to ₹100) |
1% (₹500–₹4,000) |
|
Travel Insurance |
Up to ₹25 lakh |
None |
None |
₹2 lakh |
None |
|
Lounge Access |
None |
None |
None |
None |
None |
|
Foreign Currency Markup Fee |
3.5% |
3.5% |
3.5% |
3.5% |
3.5% |
|
Interest Rate |
46% p.a. |
42% p.a. |
45% p.a. |
24% p.a. |
42% p.a. |
|
Welcome Benefits |
None |
None |
500 NeuCoins |
6,000 RP on ₹1,000 spend |
500 CashPoints on membership fee |
|
Redemption Flexibility |
Cash, vouchers, airmiles |
Cashback |
NeuCoins for Tata ecosystem |
Vouchers, cash |
Cashback, vouchers |
|
Best For |
UPI users, travelers |
Cashback seekers |
Tata ecosystem users |
Budget-conscious users |
Reliance store shoppers |
Recommendations
The IndusInd Platinum RuPay Credit Card is best suited for:
- First-Time Credit Card Users: Its lifetime-free status and simple rewards make it an accessible entry-level option.
- UPI Enthusiasts: The 2X reward points on UPI transactions are ideal for those who frequently use digital payment apps.
- Frequent Travelers on a Budget: The comprehensive travel insurance provides peace of mind without the cost of premium cards.
- Cost-Conscious Consumers: No annual or joining fees appeal to those avoiding recurring expenses.
Who Should Avoid This Card:
- High Spenders: The low reward rates (0.7% for UPI, 0.35% for non-UPI) and lack of premium perks like lounge access make it less appealing for those with significant spending.
- Lifestyle-Focused Users: Lack of dining, movie, or shopping-specific benefits limits its appeal for lifestyle enthusiasts.
- Airmiles Maximisers: The 4:1 KrisFlyer conversion ratio and discontinuation of InterMiles reduce its value for frequent flyers.
Alternatives:
- AU InstaPay RuPay: Better for those prioritizing cashback over reward points, especially for UPI spends, though MCC restrictions apply.
- Tata Neu Plus RuPay: Ideal for Tata ecosystem users but less cost-effective due to fees.
- PNB Platinum RuPay: A good alternative for those seeking a lower interest rate and similar lifetime-free benefits.
Final Verdict
The IndusInd Platinum RuPay Credit Card is a practical, no-frills option for UPI users and budget-conscious travelers. While it lacks the premium features of higher-tier cards, its lifetime-free status, UPI compatibility, and travel insurance make it a strong contender in the entry-level segment. For those with specific spending patterns (e.g., Reliance shoppers or high cashback seekers), peer cards like AU InstaPay or Tata Neu Plus may offer better value. Always assess your spending habits and compare rewards before applying.
