Axis Bank Starts Charging A Reward Redemption Fee On Redemption Of Edge Points

Axis Bank Starts Charging A Reward Redemption Fee On Redemption Of Edge Points

Most of the Axis Bank Credit Cards allow cardholders to earn Edge Reward Points, which can be redeemed for various options on the Edge Rewards portal. However, Axis Bank has recently announced that the redemption of Edge Points will no longer be free. Starting from the new financial year, a reward redemption fee of up to Rs. 99 will be charged for redeeming Edge Points. The fee amount will vary based on the number of points being redeemed. To learn more about the reward redemption charges on Axis Bank Credit Cards, continue reading this article.

Reward redemption fees axis

Axis Bank Credit Cards Reward Redemption Fee

If you own an Axis Bank Credit Card that earns Edge Reward Points, you will now be charged a reward redemption fee when redeeming your earned points. The fee amount will depend on the number of Edge Reward Points being redeemed. Refer to the table below for more details:

No. Of Edge Reward Points Reward Redemption Fee No. Of Edge Reward Points
Less than 300 Nil Less than 300
301 – 10,000 Rs. 25 301 – 10,000
More than 10,000 Rs. 99 More than 10,000

From the table above, it is clear that there is no redemption fee for redeeming less than 300 Edge Points. However, for a higher number of points, a redemption fee will be applicable for every redemption request.

Comparison Between Reward Redemption Fee Charged By Some Major Card Issuers

Several other major credit card issuers such as HDFC Bank, SBI Card, and ICICI Bank already charge a reward redemption fee. The fees charged by these issuers may either be constant regardless of the number of points being redeemed or vary based on the redeemable points. The following table compares the reward redemption fee charges by some popular credit card issuers in India:

Card Issuer Reward Redemption Fee
HDFC Bank
  • Rs. 99 on every redemption request (applicable on all rewards cards except Infinia/Diners Club Black/Flipkart Wholesale Credit Card)
  • Not applicable on redemption against cashback.
SBI Card
  • Rs. 99 on every redemption request
  • Also applicable on redemption against cashback.
ICICI Bank
  • Rs. 99 on every redemption request (Applicable on cards offering ICICI Bank Rewards and Handpicked Rewards)
  • Rs. 25 on redemption of MineCash via the rewards catalog.
  • Rs. 99 on redemption of Mine Cash against statement credit.
Axis Bank
  • Nil for the redemption of less than 300 Edge Points.
  • Rs. 25 for the redemption of 301 to 10,000 Edge Points.
  • Rs. 99 for the redemption of more than 10,000 Edge Points.

Also Read: Axis Bank acquires Citibank’s Retail Business in India

Bottom Line

Axis Bank has introduced a redemption fee of up to Rs. 99 for every redemption request made by its credit cardholders. Previously, the redemption of Edge Points was free. However, compared to other card issuers, Axis Bank's redemption fee for up to 10,000 points is relatively low. Therefore, there is no need to worry about the affordability of the redemption fee. If you have any additional questions or concerns, feel free to ask us in the comment section below!

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