IndusInd Bank’s Diwali promotion is one of the more attractive offers in the market, as the bank typically runs 2X/3X/5X reward campaigns each year with different spend thresholds for cardholders. This particular promotion is points-based, which many users prefer because IndusInd allows conversion of points into cash.
From the bank’s perspective, offering bonus points instead of direct cashback (as some other issuers do) makes sense given their business model and reward economics.
Indusind Rewardz Festival 2018
IndusInd 2018 Rewardz Festival — Offer Details
- Offer period: 10th Oct to 10th Nov, 2018
- Target A: Spend X to earn 2X Reward Points
- Target B: Spend Y to earn 3X Reward Points
- Target C: Spend Z to earn 5X Reward Points
- Maximum Bonus Points: 20,000 Bonus Points (regular points excluded)
- If a cardholder reaches Spend Level C or higher, they become eligible for tiered bonus points: 5X on spends above Level B, 3X on spends above Level A up to Level B, and 2X on spends up to Level A.
- Excluded Cards: IndusInd Bank Corporate Cards, Classic Credit Card, Gold Credit Card, Jet Airways IndusInd Odyssey Credit Card, Jet Airways IndusInd Voyage Credit Card and any credit cards issued after September 30, 2018.
- Excluded Spend Types: Loading of mobile or digital wallets
- Fulfillment: 31st Dec 2018
- Enrollment: Registration via SMS (send JOIN to 5676757), email or customer care was required to participate.
Example offer received:
On the IndusInd Iconia credit card, a sample offer structure was:
- Spend INR 16,000 to qualify for 2X rewards
- Spend INR 38,000 to qualify for 3X rewards
- Spend INR 70,000 to qualify for 5X rewards
IndusInd states that spend levels are personalized for each cardholder and are based on multiple factors, including credit history, purchase patterns, payment behavior, credit limit, loyalty and account vintage. As with other issuers, past spending often plays a major role when targets are set.
Practical notes
If you found other Diwali promotions underwhelming, this type of tiered reward offer can be especially valuable for premium cardholders. Cards like the IndusInd Pinnacle or Iconia can yield strong value if you can plan your spending to meet the higher tiers during the promotional window.
Payment processing note: Credit card payments typically reflect in this order: NEFT/IMPS > IndusInd account > bill pay. IndusInd also allows prepayments to the card account, which are adjusted against charges instantly, giving flexibility to top up the account ahead of planned spends rather than having to settle everything on the same day.
Overall, the Rewardz Festival structure rewards concentrated spending across the promo period and can deliver meaningful value if you meet the required tiers. Happy with 2018’s IndusInd Rewardz Festival? Share your spend targets and experiences in the comments if you participated.
Update: Fulfillment was completed on 31st Dec 2018, as communicated by the bank.