Does the Platinum RuPay have a joining or annual fee?

There is no recurring annual fee, allowing the card to renew free indefinitely. However, IndusInd's published MITC specifies a one-time joining fee of ₹10,000. Between April and July 2026, the bank revised the card's official page from "Zero Joining Fee & Zero Annual Fee" to "No Annual Fees" while updating the FAQ to clarify that a one-time joining fee applies, despite lingering lifetime-free promotional labels. Because fee structures can vary across customer profiles, applicants should confirm their specific onboarding terms during the application process.

How does it earn rewards?

The card earns 2 reward points per ₹100 on UPI transactions, 1 point per ₹100 on non-UPI card purchases, and 0.70 points per ₹100 across select merchant categories, with fuel earning zero points. Points are valued at ₹0.35 for cash credit and ₹0.60 for catalogue redemptions, accruing up to your allocated monthly credit limit. Factoring in point valuation, the top effective return stands at 0.7% on general retail spending.

How do I link the card to UPI?

You can link the card by opening a supported third-party UPI application (such as PhonePe, Google Pay, Paytm, or BHIM), choosing the option to link a RuPay credit card, selecting IndusInd Bank, and setting your UPI PIN. Note that UPI linking is supported exclusively through third-party apps rather than the IndusMobile or INDIE banking apps.

Are there limits on UPI spends?

RuPay-on-UPI transactions are restricted to domestic merchant payments, subject to a daily ceiling of ₹1 lakh per card, and exclude peer-to-peer transfers, rent payments, wallet reloads, and certain financial MCCs. Standing instructions cannot be registered over UPI. However, the physical card functions abroad for international transactions with a standard 3.5% forex markup.

Is there a fuel surcharge waiver?

A 1% fuel surcharge waiver is provided on fuel purchases between ₹400 and ₹4,000 without a monthly limit, as listed under the uncapped category in IndusInd's schedule. Fuel spending does not earn reward points.

Does it cost anything to redeem reward points?

Redeeming for cash credit carries a ₹149 fee plus 18% GST, whereas non-cash catalogue redemptions cost ₹100 per request. Because the minimum cash redemption of 500 points yields ₹175.00 against a total fee of ₹175.82, redeeming at the floor level results in a slight net loss. In addition, cash redemptions are capped at 2,500 points monthly and, since 1 April 2025, are restricted to at most 50% of your total point balance.

How has the IndusInd Bank Platinum RuPay Credit Card changed over time?

Our dated Value Timeline for the IndusInd Bank Platinum RuPay Credit Card (on this page) records 13 changes since 2023: 12 devaluations, 0 improvements, and the rest neutral changes such as launches or restructures. The most recent entry: IndusInd stops describing the card as having no joining fee (31 July 2026). Each event carries its source, so any figure here can be checked against the issuer's own documents.

Has the IndusInd Bank Platinum RuPay Credit Card been devalued recently?

Yes — our record shows 12 devaluations to the IndusInd Bank Platinum RuPay Credit Card in the last 24 months. The most recent: IndusInd stops describing the card as having no joining fee, effective 31 July 2026 — from Product page: "Lifetime Free - Zero Joining Fee & Zero Annual Fee" to Product page: "No Annual Fees"; FAQ: "only a one-time joining fee applicable". The full dated list, with what changed and its source, is in the Value Timeline on this page.

How did the IndusInd Bank Platinum RuPay Credit Card change in 2026?

Our record shows 4 changes to the IndusInd Bank Platinum RuPay Credit Card in 2026 (4 cuts): New 1% surcharge on transport spends above ₹40,000/cycle (15 June 2026); Fuel-fee threshold cut from ₹50,000 to ₹30,000/cycle (15 June 2026); Dynamic Currency Conversion fee doubled to 2% (15 June 2026), and 1 more. The biggest single change: before 31 July 2026 it was Product page: "Lifetime Free - Zero Joining Fee & Zero Annual Fee"; from then on, Product page: "No Annual Fees"; FAQ: "only a one-time joining fee applicable". Every event, dated and sourced, is in the Value Timeline on this page.

IndusInd BankENTRY

IndusInd Bank Platinum RuPay Credit Card

4.3 / 5SarvCred Editorial Review

Check my eligibility

IndusInd Bank

IndusInd Bank Platinum RuPay Credit Card

Name: IndusInd Bank Platinum RuPay Credit Card
Brand: SarvCred
Rating: 4.3 (1 reviews)

Entry levelFee variesRewardsFuelTravel

The Platinum RuPay is IndusInd's answer to credit-card-on-UPI: it runs on the RuPay network, links to any third-party UPI app (BHIM, PhonePe, Paytm, Google Pay), and lets you pay merchants by scanning a QR code straight from your credit line — no card, CVV or OTP. The reward logic rewards that behaviour: 2 reward points per ₹100 on UPI transactions, 1 per ₹100 on ordinary (non-UPI) card spends, and just 0.70 point per ₹100 on a set of select merchant categories. Fuel earns nothing at all — IndusInd stopped accruing points on fuel across its portfolio on 1 April 2018. Points redeem at ₹0.35 as cash credit, at ₹0.60 on the non-cash catalogue since 15 December 2024, or to KrisFlyer miles at 400 points to 100 miles. It carries a 1% fuel surcharge waiver (₹400–₹4,000) and Total Protect fraud cover. On the fee, read IndusInd's own documents rather than its badges: the MITC sets a one-time joining fee of ₹10,000 and NIL annual fee, and between April and July 2026 the bank rewrote this page's hero tile and its fee FAQ to drop the old zero-joining-fee wording — the FAQ now reads that the card has only a one-time joining fee and no annual fee. The nav still says Lifetime Free, so confirm your fee point before applying. The honest read: at ₹0.35/point the 2X UPI rate is worth about 0.7% back — modest, and against a ₹10,000 entry cost it takes roughly ₹14 lakh of UPI spend to break even, after which the card renews free forever. Note the RuPay-on-UPI rails are domestic only, blocked for peer-to-peer, rent, wallet loads and a list of financial MCCs, and capped at ₹1 lakh per day — the card itself works abroad, at a 3.5% forex markup. It complements, rather than replaces, the Visa Platinum and the lifetime-free Platinum Aura Edge.

Key features

What this card is built to do — the highlights that actually matter.

⭐

0.7% on Other

2 reward points per ₹100 on UPI-linked spends (the card's primary use); 1 point per ₹100 on non-UPI card spends; select merchant categories earn only 0.70 point; fuel earns none. 1 point = ₹0.35 as cash credit or ₹0.60 on the non-cash catalogue

⭐

0.24% on Utility Bills

0.70 RP per ₹100 (~0.25%) on utility bill payments — the reduced rate from IndusInd's 1 Aug 2019 revision, not the 2-per-₹100 UPI base

📱

UPI Linked

Link to PhonePe, GPay or Paytm and earn credit card rewards on UPI payments

🛡

️ Insurance Cover

Total Protect cover for unauthorised transactions and counterfeit fraud up to the card's credit limit, plus travel insurance IndusInd markets at ₹2.25 lakh — lost baggage ₹1 lakh, passport ₹50,000, and delayed baggage, lost ticket or missed connection ₹25,000 each

Full reward structure

Category	Type	Rate	Monthly cap
Other	reward points	0.7%	—
Utility Bills	reward points	0.24%	—
Insurance	reward points	0.24%	—
Government & Tax	reward points	0.24%	—
Education	reward points	0.24%	—

Fees & charges

Charge	Amount
Annual fee (incl. 18% GST)	Free
Joining fee (incl. 18% GST)	₹11,800
Finance charge (APR)	3.95% p.m.
Forex markup	3.5%
Reward redemption fee	₹149

Perks & benefits

Estimated annual value beyond rewards — ~₹600/yr in total.

⛽

fuel waiver ~ ₹600 /yr

1% fuel surcharge waiver on fuel transactions of ₹400–₹4,000, with no monthly capping — IndusInd's own fuel-surcharge table lists this card under No capping

🛡

️ insurance

Should you get it?

Best for: Heavy UPI spenders who will clear the one-time joining fee and then hold the card free for life, Small-ticket and kirana shoppers whose merchants take UPI but not cards, Anyone offered the card on a waived-joining-fee plan, where the no-annual-fee renewal costs nothing

Mid tier — a solid all-rounder for steady monthly spend.

Strongest value if you spend heavily on Other ( 0.7% back).

✓ Pros

No annual fee at all — once you are in, the card renews free for life
Earns on UPI QR spends that most credit cards can't reach
2 reward points per ₹100 on UPI transactions (1 on non-UPI card spends)
Links to BHIM, PhonePe, Paytm and Google Pay — pay by QR with no card, CVV or OTP
1% fuel surcharge waiver on ₹400–₹4,000 fuel spends with no monthly cap, plus Total Protect fraud cover and travel insurance IndusInd markets at ₹2.25 lakh

✕ Cons

IndusInd's MITC prices this card at a one-time ₹10,000 joining fee (the annual fee is genuinely NIL), and at roughly 0.7% back that needs about ₹14 lakh of UPI spend to recover
The bank's own pages contradict each other — the nav still badges it Lifetime Free while the fee FAQ now says only a one-time joining fee applies, so confirm your fee point before you apply
Modest economics — 2 points per ₹100 at ₹0.35 is roughly 0.7% back
A block of select merchant categories earn only 0.70 point per ₹100
Fuel spends earn no reward points at all — IndusInd zeroed fuel accrual portfolio-wide on 1 April 2018
RuPay-on-UPI is domestic-only, blocks P2P/rent/wallet/financial MCCs, and is capped at ₹1 lakh per day
Reward points accrue only on spend up to your assigned credit limit in each statement cycle — IndusInd's own worked example forfeits 800 of 1,800 points
Redemption is expensive relative to what the card earns: ₹149 + 18% GST for cash credit (₹100 for every other category), so a minimum 500-point cash redemption is worth ₹175.00 against ₹175.82 of fee — a net loss
Cash redemption is capped at 2,500 reward points a calendar month, needs a 500-point minimum, and since 1 April 2025 may draw on only half your points balance
From 15 June 2026 fuel spends above ₹30,000 a statement cycle attract 1% + GST, dynamic currency conversion on an overseas merchant billing in rupees costs 2% + GST, and ground transport above ₹40,000 a cycle attracts 1% + GST

Eligibility & documents

Age

21 –65 years

Min. income

₹25,000 /mo

Employment

Salaried · Self-employed

Documents required

PAN card
Aadhaar / valid address proof
Latest 3 months bank statement
Income proof — salary slips (salaried) or ITR (self-employed)
Recent passport-size photograph

How to redeem rewards

Ways to convert what you earn into real value.

🎁 Cash credit / statement credit at ₹0.35 per reward point (via IndusMoments), minimum 500 points, capped at 2,500 points a calendar month and — since 1 April 2025 — at half your points balance

🎁 Non-cash catalogue vouchers and merchandise at ₹0.60 per point since 15 December 2024 — 71% better than the cash rate, and it carries the ₹100 redemption fee rather than the ₹149 cash fee

🎁 KrisFlyer miles at 400 reward points to 100 miles, minimum 500 points, in multiples of 100 and up to 10,000 points a calendar month

🎁 Redemption is not free: ₹149 plus 18% GST for cash credit, ₹100 for every other category. A minimum 500-point cash redemption is worth ₹175.00 against ₹175.82 of fee, so it is net negative — on a card earning roughly ₹1,700 a year the fee is a large slice of the return

What your IndusInd Reward Points are worth

Realistic value per point by redemption route — the difference is what most people leave on the table.

Statement credit / catalogue BEST Above-average base value

₹ 0.35 /pt

Gift voucher catalogue BEST Brand & e-gift vouchers

₹ 0.35 /pt

The concern The MITC prices entry at a one-time ₹10,000 while the marketing still says Lifetime Free, and at roughly 0.7% back it takes about ₹14 lakh of UPI spend to earn that back. The economics are thin, select merchant categories earn only 0.70 point per ₹100, fuel earns nothing, and RuPay-on-UPI is domestic-only with P2P/rent/wallet exclusions and a ₹1 lakh daily cap.

The bottom line

The core assessment of the Platinum RuPay centers on upfront cost versus recurring value: an earn rate of 2 points per ₹100 (~0.7% return at ₹0.35 per point) monetizes QR-code merchant spends that regular cards bypass, with zero recurring annual fees thereafter. However, the standard ₹10,000 joining fee noted in the bank's MITC necessitates approximately ₹14 lakh in UPI volume to break even at 0.7%. Consequently, the card is best suited for extensive UPI spenders or applicants securing it under a promotional fee waiver.

Sources & verification

Fees, reward rates, and benefits for the IndusInd Bank Platinum RuPay Credit Card are taken from IndusInd Bank 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 16 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →

Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for IndusInd Bank . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.

Value timeline

Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.

Tracking since 2023 · 13 changes · last change Jul 2026

▲ Revaluation ▼ Devaluation ◆ Neutral / reversed

2026 4 changes — 4 cuts

▼ Fee Effective 31 Jul 2026

IndusInd stops describing the card as having no joining fee

Product page: "Lifetime Free - Zero Joining Fee & Zero Annual Fee" → Product page: "No Annual Fees"; FAQ: "only a one-time joining fee applicable"

Between 14 April and 31 July 2026 IndusInd rewrote the Platinum RuPay's fee disclosure in two places at once. The hero tile changed from "Lifetime Free - Zero Joining Fee & Zero Annual Fee" to "No Annual Fees", and the FAQ changed from "you do not have to pay any joining fees or annual fees at all" to "has only a one-time joining fee applicable; there is no annual fee". Both edits delete the zero-joining-fee claim and align the page with IndusInd's MITC, which has listed a ₹10,000 joining fee for this card since at least August 2025. The annual fee remains genuinely nil. IndusInd issued no notice — the wording simply changed. Note the bank's own navigation still badges the card "Lifetime Free" and still links a "Get Lifetime-Free Platinum RuPay Credit Card" campaign, so an applicant may still encounter the old claim; the MITC states that actual fees are conveyed at the time of application.