IndusInd Bank’s Diwali promotion is among the more attractive seasonal offers in the market. Each year the bank runs multi-tiered reward campaigns — commonly 2X, 3X and 4X/5X reward multipliers — with different spend targets for different cardholders. The program is points-based, which many cardholders prefer because IndusInd allows conversion of reward points into cash credit.
Below are the details of the 2019 IndusInd Rewardz Festival for IndusInd credit cards. The structure is similar to past editions, although the top multiplier has been adjusted from 5X to 4X this year.
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
- Maximum bonus points: 15,000 Bonus Points (regular points are not included in this cap)
- Excluded cards: IndusInd Bank Corporate Cards, IndusInd Classic Credit Card, IndusInd Gold Credit Card, Jet Airways IndusInd Odyssey Credit Card, Jet Airways IndusInd Voyage Credit Card, and credit cards issued after 30 September 2019
- Excluded spend types: Loading of mobile or digital wallets
- Fulfilment: Bonus points credited by 31st Dec 2019
- To enroll: Registered cardholders needed to opt in by SMS (send JOIN to 5676757) or by clicking the personalized link sent by email before 15th Oct 2019
- Offer terms and conditions available from the issuer
IndusInd states that spend thresholds are set individually for each cardholder based on factors such as credit history, purchase patterns, payment behaviour, credit limit, loyalty and the vintage of the account.
- Typical return on spend: Approximately 2–10% depending on card, target achieved and redemption method
Updates
A recent addition to the offer terms clarifies that cardholders will continue to earn both regular and bonus reward points on spends that exceed the card’s credit limit, provided the spend thresholds for the campaign are met. In practice, this means the usual restriction on earning points for transactions above the limit has been relaxed for this promotion.
This temporary relaxation allows eligible cardholders to continue making purchases beyond their credit limit during the offer period and still receive regular and bonus points for those transactions, subject to the campaign rules.
Note, however, that some prior flat-reward offers had explicit exclusions for reward accrual on spends beyond the credit limit. If you received a flat-point offer or a different variant, regular reward points for transactions over the credit limit may not accrue — check your personalized communication or statement for specifics.
Bottom line
This was among the first spend-based Diwali offers announced in 2019 and represents a strong start to the festive offers season. Based on the targets provided for my account and a quick calculation, timing weekend spends on a card with favourable earn rates can produce roughly a 7% effective return when points are converted to cash credit. Results will vary by card, redemption choice and individual spend targets.
The conversion-to-cash option makes these returns particularly appealing, although your personal targets might be higher depending on past spending behaviour. If you received specific spend thresholds or offer details from IndusInd, compare those figures with your typical monthly spend to estimate the real benefit.
Have you received your spend targets from IndusInd? Share your experience or impressions in the comments.