Following last week’s AMEX double rewards announcement, Yes Bank and IndusInd have launched their own short-term 2X rewards promotions. Below are the key details and what to expect from each offer.
IndusInd Offer Details
- Offer: 2X rewards on online spends
- Offer period: 26 April 2020 to 3 May 2020
- Spend type: Online transactions
- Minimum spend: INR 10,000
- Maximum bonus points: 200
- Source: Email/SMS communication
Earning double points can be valuable on cards that already deliver strong returns, but this IndusInd promotion is limited by a short window, a relatively high minimum spend and a low maximum bonus of 200 points. For many cardholders the cap and brief duration will reduce the practical value of the offer.
A longer validity period and a higher bonus cap would have made this promotion more attractive and easier for customers to benefit from.
Yes Bank Offer Details
- Offer: 2X points on all grocery spends
- Offer period: 28 April to 31 May 2020
- Spend type: Grocery — online and offline
- Minimum spend: None
- Maximum bonus points: 5,000
- Source: Yes Bank communication
This is a stronger, more practical offer because it applies to grocery purchases across channels and carries no minimum spend. It also extends to debit cards, which broadens eligibility beyond credit cardholders. Cardholders of products like Yes First Preferred can effectively earn around 1% rewards, while Yes First Exclusive users may see about 3% in rewards on qualifying grocery spends.
One consideration: Yes Bank’s operational stability has been under scrutiny in recent months, so customers should factor that into their decision to rely on ongoing offers and card benefits.
Bottomline
It’s encouraging to see smaller issuers roll out promotional rewards. Between the two, Yes Bank’s grocery-focused offer is more user-friendly thanks to a longer window, no minimum spend and a higher bonus cap. IndusInd’s promotion could be worthwhile for targeted online spend but is limited by its short duration and low bonus ceiling.
Which offers are you using during the current period? Share your experiences and thoughts in the comments below.