Kiwi RuPay Credit Card
Kiwi is a UPI-first fintech credit card — a lifetime-free RuPay virtual card issued through a partner bank (Yes Bank for new applications; earlier cards were on Axis) and managed entirely in the Kiwi app. The whole point is paying by UPI from a credit line: link it to any UPI app and earn cashback as "Kiwis" on QR-code spends, including the small daily payments most cards ignore. On the free tier you earn 1.5% on UPI scan-and-pay (6 Kiwis per ₹100 at ₹0.25) and about 0.5% on other online spends — roughly 1% blended; the headline "up to 5%" (20 Kiwis per ₹100) requires the paid Kiwi Neon tier (₹999/year) and spend milestones, so most users should price it as a ~1.5%-on-UPI free card and treat Neon as an opt-in for heavy UPI spenders. Instant in-app issuance and a pure UPI focus make it one of the more practical free cards for everyday QR payments.
Key features
What this card is built to do — the highlights that actually matter.
1% on Other
1.5% on UPI scan-and-pay (6 Kiwis/₹100 at ₹0.25) is the free headline; other online earns ~0.5%, blending to ~1% overall (the DEFAULT rate modelled here). The advertised up to ~5% (20 Kiwis/₹100) needs the PAID Kiwi Neon tier (₹999/yr) plus spend milestones
Lifetime Free
No annual fee — ever. Keep this card long-term without any recurring cost.
Fuel Surcharge Waiver
1% waiver on fuel transactions, capped at ₹250/month
UPI Linked
Link to PhonePe, GPay or Paytm and earn credit card rewards on UPI payments
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Other | cashback | 1% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | Lifetime free |
| Joining fee (incl. 18% GST) | Free |
| Finance charge (APR) | 3.99% p.m. |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1%, cap ₹250 |
Should you get it?
Best for: UPI-first spender wanting a free card for QR payments, Daily small-ticket UPI spender (groceries, utilities), Secondary everyday-UPI card alongside a primary rewards card
Entry tier — great for first-time and lower-spend users.
Strongest value if you spend heavily on Other ( 1% back).
✓ Pros
- Lifetime-free base card with instant in-app issuance
- Earns cashback on everyday UPI/QR payments, including small spends
- Pure UPI focus — designed for scan-and-pay
- Optional Neon tier for heavy UPI spenders who want up to ~5%
✕ Cons
- The ~5% headline needs the paid Neon tier (₹999/yr) and milestones; free base is ~1%
- Virtual card managed in-app; availability depends on the current partner bank
- 3.5% forex markup — not for international transactions
Eligibility & documents
Age
18 –65 years
Min. income
₹15,000 /mo
Employment
Salaried · Self-employed
Documents required
- PAN card
- Aadhaar / valid address proof
- Income proof — salary slips (salaried) or ITR (self-employed)
How to redeem rewards
Ways to convert what you earn into real value.
🎁 Redeem Kiwis as cashback / statement adjustment in the Kiwi app
🎁 Earn on UPI transactions via linked apps
What your Cashback are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit Direct cash adjustment — no conversion
The concern The attractive ~5% rate is gated behind the paid Neon tier and milestones; the free base earn is ~1%, and availability runs through whichever partner bank Kiwi is onboarding at the time.
The bottom line
Kiwi's core strength is straightforward: rewarding merchant QR code transactions with zero recurring fees. While the standard blended return of ~1% is modest, reaching the top 5% bracket requires an annual ₹999 Neon membership alongside specific milestone targets, meaning the card is best evaluated on its no-fee merits. As an instantly activated, lifetime-free virtual RuPay card, it offers a hassle-free method to monetize routine UPI spending.
Sources & verification
Fees, reward rates, and benefits for the Kiwi RuPay Credit Card are taken from YES Bank 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 8 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 YES 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 · 7 changes · last change Apr 2026
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2026 1 change — 1 neutral
◆ Benefit Effective 23 Apr 2026
PNB added — Kiwi's first public-sector issuer
+ Punjab National Bank
Punjab National Bank partnered with Kiwi for the lifetime-free 'PNB Kiwi' RuPay credit-on-UPI card — Kiwi's first public-sector issuing partner, aimed at PNB's large semi-urban and rural base. Cashback on UPI and online spends, with no joining or annual fee. No standalone PNB press page was verifiable, so provenance is research-tier.
Verification: CardAdvisor Research · Confidence: High
2025 3 changes — 2 cuts, 1 neutral
◆ Benefit Effective 18 Sept 2025
AU Small Finance Bank added (AU KOSMO)
+ AU Small Finance Bank (KOSMO)
AU Small Finance Bank partnered with Kiwi to issue the lifetime-free RuPay 'AU KOSMO' credit-on-UPI card, widening the pool of banks that can issue a Kiwi card. Same in-app scan-and-pay cashback model — only the issuing bank differs.
Verification: AU Small Finance Bank ↗ · Confidence: High
▼ Reward Effective 1 Jun 2025
Kiwis now earned only on ₹100 multiples
per ₹50 of spend → per ₹100 of spend
From 1 June 2025 Kiwis are awarded only on the portion of a transaction in whole multiples of ₹100 (previously ₹50). A ₹150 UPI payment now earns on ₹100 and nothing on the ₹50 remainder — a quiet cut that most hurts frequent small-ticket UPI spenders, which is the card's core use case.
Verification: Kiwi ↗ · Confidence: High
▼ Redemption Effective 1 Jun 2025
Minimum redemption raised to 500 Kiwis
lower / flexible → 500 Kiwis (₹125), in multiples of 500
Also from 1 June 2025, Kiwis can be redeemed only once the balance reaches 500 Kiwis (₹125 at ₹0.25 each), and thereafter in blocks of 500 — locking up small cashback balances until they clear the new floor.
Verification: Kiwi ↗ · Confidence: High
2024 2 changes — 2 neutral
◆ Benefit Effective 4 Jul 2024
Kiwi Neon paid rewards tier introduced
free tier only (~1.5% on UPI) → optional Neon (₹999/yr) up to 5% via milestones
Kiwi rolled out Neon, an optional paid membership (₹999/yr, fee effective 3 Feb 2025) for cards issued via the app since 4 July 2024. It lifts scan-and-pay to 2% and steps to 3%/4%/5% at ₹50k/₹1L/₹1.5L annual UPI spend, plus up to 3 milestone lounge visits. The free base stays ~1.5%, so the headline 'up to 5%' now needs the paid tier.
Verification: Kiwi ↗ · Confidence: High
◆ Benefit Effective 2024
Yes Bank 'Klick' becomes the mainstream issuer
Axis Bank (KWIK) → Yes Bank (Klick)
Kiwi added a Yes Bank-issued variant, branded 'Klick', which became the main new-application line as new Axis-issued Kiwi cards wound down. Existing Axis cards kept working; the RuPay-UPI scan-and-pay mechanic, lifetime-free status and cashback structure were unchanged — only the bank behind new cards differed. Exact launch month is undocumented; the Yes variant was live by mid-2024.
Verification: Kiwi ↗ · Confidence: Reconstructed
2023 1 change — 1 neutral
◆ Launch Effective 2 Aug 2023
Kiwi launches on Axis Bank — RuPay credit-on-UPI card
Kiwi, a fintech app, partnered with Axis Bank to issue the lifetime-free virtual RuPay 'KWIK' credit card, letting users pay merchants by UPI scan-and-pay from a credit line and earn cashback as 'Kiwis' — one of India's first mainstream credit-on-UPI cards, issued and managed entirely in the Kiwi app.
Verification: Axis Bank ↗ · Confidence: High
↓ Show all 7 changes Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: Kiwi RuPay Credit Card value timeline — CardAdvisor
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Source: Kiwi RuPay Credit Card value timeline , CardAdvisor (CC BY 4.0).
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Quick summary
Type Entry credit card
Reward rate 1%
Best for UPI-first spender wanting a free card for QR payments
Joining fee Free
Annual fee Lifetime free
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 8 Aug 2026
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280 cards analysed — August 2026
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