The verdict
A formidable premium travel credit card rivaling top commercial bank cards. Combining 1:1 airline partner conversions, low 2.0% forex markup, and international lounge access makes it an elite companion for globetrotters.
Spending ₹30,000/mo on domestic travel/dining (3,600 miles) + ₹1.5L/yr on international trips (4,500 miles = ₹8,100 value) + 8 domestic lounges (₹9,600) + 4 intl lounges (₹10,000) + saves ₹2,250 on forex easily surpasses the ₹5,000 fee to yield over ₹24,950 in net annual travel value (5.0× ROI).
High annual fee of ₹5,000 requiring ₹5 Lakhs spend for waiver.
✓What works
- +1:1 Air Miles conversion ratio across leading airline loyalty programs.
- +3X Reward Points (3 points per ₹100 spent = 3.0% return) on all international transactions.
- +12 complimentary airport lounge visits per year (8 domestic + 4 international via Priority Pass).
- +Low 2.0% + GST forex markup on all overseas and foreign currency transactions.
- +Annual fee of ₹5,000 waived on spending ₹5,00,000 in the anniversary year.
- +Comprehensive travel insurance covering lost baggage, delay, and ₹1 Crore air accident cover.
✕What doesn't
- −High annual fee of ₹5,000 + GST.
- −High spend threshold of ₹5 Lakhs required for annual fee waiver.
- −Domestic base reward return is 1.0% (1 pt / ₹100).
What it earns
1 Reward Point = 1 Air Mile when transferred to partner airline frequent flyer programs.
| Category | Rate | Monthly Cap | Per ₹1L spent |
|---|---|---|---|
| International & Overseas Spends | 3X (3.0% Air Miles) | Uncapped | 3,000 Air Miles |
| Domestic Flights, Hotels & Dining | 2X (2.0% Air Miles) | Uncapped | 2,000 Air Miles |
| All Other Domestic Retail Spends | 1 pt / ₹100 (1.0%) | Uncapped | 1,000 Air Miles |
| Fuel & Rent | 0% | Excluded | 0 pts |
Accelerated earn
3X Air Miles on International Spends + 1:1 Partner Transfers
Maximize airline frequent flyer miles on all your global travel.
| Category / Channel | Multiplier Rate | Monthly Cap | Cap / Condition |
|---|---|---|---|
| International Transactions3 miles per ₹100 overseas. | 3X · 3.0% | Uncapped | — |
| Travel & Dining2 miles per ₹100 on travel. | 2X · 2.0% | Uncapped | — |
| Fee WaiverWaived at ₹5,00,000 spend. | 100% · ₹5,000 Waived | 1 / year | — |
Redemption options
Transfer reward points 1:1 to airline frequent flyer programs or book flights on the Equitas travel portal.
| Redemption Channel | Value Per Point | Minimum | Ceiling / Limits | Fee |
|---|---|---|---|---|
| 1:1 Airline Partner Transfer (Singapore, Air India, Flying Blue)BEST VALUE | 1 pt = 1 Air Mile (Up to ₹1.50+ value) | 1,000 pts | None | Nil |
| Equitas Travel Portal Bookings | ₹0.50 / Reward Point | 500 pts | None | Nil |
Reward Scope: Inclusions & Exclusions
✓Eligible Spends (Inclusions)
- +International retail and web spends, flights, hotels, fine dining.
- +8 domestic + 4 international airport lounges.
- +1:1 airline partner transfer program.
✕Excluded Spends & Fee Traps
- −Rent payments.
- −Fuel purchases (1% surcharge waiver on ₹400–₹5,000).
- −Wallet load transactions.
Fee Schedule & Waiver Criteria
| Fee Component | Amount / Rate |
|---|---|
| Joining Fee | ₹5,000 + GST |
| Annual Renewal Fee | ₹5,000 + GST (Waived at ₹5 Lakhs spend) |
| Forex Markup | 2.0% + GST (Low Forex) |
| Finance Charges | 3.25% / month (39.0% / year) |
Eligibility & Approval Criteria
| Criteria | Requirement |
|---|---|
| Age | 21–65 years |
| Salaried Income | ₹1,00,000+ monthly net salary |
| Self-Employed Income | ITR above ₹15.0 Lakhs per annum |
Frequently Asked Questions
Does Equitas Powermiles Credit Card offer airport lounge access?
What are the MITC charges, annual fees, and interest rates for Equitas Powermiles Credit Card?
What is the reward rate and point redemption value on Equitas Powermiles Credit Card?
Which transactions are excluded from earning rewards on Equitas Powermiles Credit Card?
Who is Equitas Powermiles Credit Card best suited for in 2026?
Editorial Deep-Dive Analysis
Comprehensive Overview: Equitas Powermiles Credit Card
The Equitas Powermiles Credit Card is Equitas Small Finance Bank’s flagship premium travel credit card, engineered on the Visa network for frequent flyers, luxury globetrotters, and international business executives. Positioned at an annual fee of ₹5,000 + GST—which is fully waived upon reaching ₹5,00,000 in annual retail spending—the card competes aggressively with established commercial bank travel cards by offering versatile 1:1 airline air miles transfers and low cross-border forex fees.
Cardholders enjoy an impressive 12 complimentary airport lounge visits annually, divided into 8 domestic airport lounge visits and 4 international airport lounge visits via Priority Pass. International transactions benefit from a discounted 2.00% + GST foreign currency markup fee (well below the standard 3.50% rate). The card delivers an accelerated reward rate of 3X Reward Points on all international spending (3.0% return, earning 3 points per ₹100 spent), 2X Reward Points on domestic flights, hotels, and dining (2.0% return, earning 2 points per ₹100 spent), and a baseline of 1 point per ₹100 spent (1.0% return) on all other domestic retail spends. With seamless 1:1 transfers to premier airline loyalty programs (including Singapore Airlines KrisFlyer and Air India), plus ₹1 Crore complimentary air accident insurance cover, the Equitas Powermiles provides top-tier travel utility.
Key Privileges and Practical Everyday Benefits
- 1:1 Air Miles Partner Transfer: Transfer reward points at a direct 1:1 ratio to leading international and domestic frequent flyer loyalty programs.
- Accelerated 3X International Rewards: Earn 3 Reward Points per ₹100 spent (3.0% return) on all foreign currency transactions and overseas swipes.
- 12 Annual Airport Lounge Visits: Access 8 domestic airport lounge visits plus 4 international airport lounge visits per year via Priority Pass.
- Discounted 2.00% Forex Markup: Save significantly on cross-border transactions with a reduced 2.00% forex fee compared to standard 3.50% bank rates.
- 2X Rewards on Domestic Travel & Dining: Earn 2 Reward Points per ₹100 spent (2.0% return) across flight bookings, hotel reservations, and fine dining.
- Complimentary Travel & Air Accident Cover: Enjoy comprehensive travel protection, including delayed baggage compensation and up to ₹1 Crore air accident insurance coverage.
- Spend-Based Annual Fee Waiver: Achieve ₹5,00,000 in eligible retail transactions within the card anniversary year to completely waive the ₹5,000 renewal fee.
Important Terms and Spend Conditions to Keep in Mind
- Annual Fee Waiver Spend Condition: Full waiver of the ₹5,000 annual renewal fee requires settling ₹5,00,000 in eligible retail spending within the card anniversary year.
- Priority Pass International Allocation: The 4 complimentary international lounge visits require utilizing the issued Priority Pass membership card at participating overseas lounges.
- Reward Point Valuation & Minimum Transfer: 1 Equitas Reward Point equals 1 Air Mile on partner transfers (minimum transfer threshold is 1,000 points), or ₹0.50 per point when booking directly on the Equitas travel portal.
- Excluded Spend Categories: Fuel transactions, real estate rent payments, and wallet reloads are excluded from reward point accrual (fuel transactions between ₹400 and ₹5,000 qualify for a 1% surcharge waiver).
- Foreign Currency Mark-up: Overseas transactions incur a discounted 2.00% + GST markup, while standard cash advance charges apply on ATM withdrawals abroad.
Who Benefits Most
- Frequent International Travelers: Globetrotters who regularly make overseas transactions and want to earn 3.0% returns while paying reduced 2.00% forex markup.
- Airline Miles Optimizers: Cardholders focused on accumulating transferable frequent flyer miles with 1:1 conversion rates to premium airlines.
- High-Spends Travel Connoisseurs: Individuals spending ₹5,00,000+ annually across flights, luxury hotels, and international dining to waive the ₹5,000 annual fee and maximize travel perks.
- Equitas Small Finance Bank — Powermiles card schedule of charges
- Equitas Bank Air Miles Transfer Partners & Lounge guidelines
Independent Editorial & Statutory Disclaimers
Institutional Transparency & Nominative Fair Use Statement
CredSutra operates as an independent credit card discovery and consumer intelligence engine. CredSutra is NOT a bank, Non-Banking Financial Company (NBFC), Direct Selling Agent (DSA), or Lending Service Provider (LSP).