“5 reward points per ₹200” sounds generous until you ask the only question that matters: what is one point worth in rupees? On the cards SkyloFin tracks, the answer runs from 10 paise to ₹5 a point. Two cards with the same “points per ₹200” can pay you very different amounts.
This guide shows the value of one point on 20 popular cards, how to turn any card’s points into a simple percentage, and the catches that quietly reduce what you get.
The one formula you need
What you get back (%) = points earned × value of one point ÷ amount spent × 100
Take the HDFC Regalia Gold: 5 points per ₹200, each worth about ₹0.50. That is ₹2.50 back on ₹200, or 1.25%. The Axis Bank Select gives twice the points (10 per ₹200), but each is worth about ₹0.20, so it pays ₹2 on ₹200, or 1%. More points, less money.
Do this sum once for your own card and every “10X points” offer becomes easy to judge. Or let the credit card rewards calculator do it with your monthly spends.
What one point is worth on 20 popular cards
Base rate on regular spends, before any bonus category. The point value is the one SkyloFin’s card data uses for each card’s usual redemption.
| Card | Earns on regular spends | 1 point is worth about | You get back | Annual fee |
|---|---|---|---|---|
| Axis Bank Atlas | 2 EDGE Miles per ₹100 | ₹2.00 | 4% | ₹5,000 + GST |
| HDFC Infinia Metal | 5 points per ₹150 | ₹1.00 (SmartBuy flights and hotels) | 3.3% | ₹12,500 + GST |
| HDFC Diners Club Black Metal | 5 points per ₹150 | ₹1.00 | 3.3% | ₹10,000 + GST |
| Axis Bank Magnus | 12 EDGE points per ₹200 | ₹0.40 | 2.4% | ₹12,500 + GST |
| HSBC TravelOne | 2 points per ₹100 | ₹1.00 | 2% | ₹4,999 + GST |
| Federal Scapia | 10 Scapia Coins per ₹100 | ₹0.20 (travel on the Scapia app only) | 2% | Free |
| HDFC Regalia Gold | 5 points per ₹200 | ₹0.50 | 1.25% | ₹2,500 + GST |
| Axis Bank Select | 10 EDGE points per ₹200 | ₹0.20 | 1% | ₹3,000 + GST |
| Axis Bank Privilege | 10 EDGE points per ₹200 | ₹0.20 | 1% | ₹1,500 + GST |
| AU Zenith | 3 points per ₹100 | ₹0.25 | 0.75% | ₹7,999 + GST |
| IndusInd Legend | 1 point per ₹100 on weekdays, 2 on weekends | ₹0.50 | about 0.72% | Free |
| YES Bank Elite+ | 6 points per ₹200 | ₹0.20 | 0.6% | ₹999 + GST |
| SBI Prime | 2 points per ₹100 | ₹0.25 | 0.5% | ₹2,999 + GST |
| SBI Elite | 2 points per ₹100 | ₹0.25 | 0.5% | ₹4,999 + GST |
| SBI Card PULSE | 2 points per ₹100 | ₹0.25 | 0.5% | ₹1,499 + GST |
| IDFC FIRST Millennia | 3 points per ₹200 | ₹0.25 | 0.375% | Free |
| Kotak League Platinum | 4 points per ₹150 | ₹0.10 | 0.27% | ₹499 + GST |
| SBI SimplyCLICK | 1 point per ₹100 offline | ₹0.25 | 0.25% (more on online partners) | ₹499 + GST |
| OneCard | 1 point per ₹50 | ₹0.10 | 0.2% | Free |
| HDFC MoneyBack+ | 2 CashPoints per ₹200 | ₹0.20 | 0.2% | ₹500 + GST |
Two things stand out. First, the premium cards (Atlas, Infinia, Magnus) are worth it only if you redeem the way the bank intends: flights and hotels through its own portal or partner airlines. Second, many everyday cards pay well under 1% on regular spends. Their value is in the bonus categories, so check those on the card’s page before you choose.
Why the same point can be worth less
A point has no fixed price. What you get depends on how you spend it:
- Flights and hotels through the bank’s portal usually give the best value per point.
- Transfers to airline or hotel partners can be good, but only if you use those miles before they expire.
- Vouchers and the bank’s gift catalogue often give less per point.
- Statement credit (paying your bill with points) is the simplest, and on many cards the lowest value.
So the values in the table are a fair guide, not a promise. Before redeeming a large balance, compare at least two options in your bank’s rewards portal.
Four catches that eat into your points
- Redemption fees. Some cards charge every time you redeem: ₹99 on IDFC FIRST Millennia, Select and Wealth and on RBL World Safari, ₹100 on YES Bank Elite+ and IndusInd Legend. Redeem in one go, not in small amounts.
- Expiry. IDFC FIRST points expire after 24 months and Kotak points after 2 years. IndusInd Legend points never expire. Note your card’s rule.
- Spends that earn nothing. Fuel, rent, wallet loads, government payments and often insurance and utilities earn no points, or capped points. A big rent payment can earn you zero.
- Quiet cuts. Banks change point rules often. HDFC Regalia Gold went from 4 points per ₹150 to 5 per ₹200 on 15 May 2026; IDFC FIRST Wealth and Select moved from ₹150 to ₹200 per point on 18 June 2026; AU Zenith dropped from 5X to 3X on 1 January 2026. SkyloFin’s card changes page lists every change with the bank’s own notice.
Points or cashback?
Cashback is worth exactly what it says: ₹1 is ₹1, with no portal, no fee and no expiry to manage. Points can be worth more, but only if you redeem them well. If you do not want to think about redemptions, a good cashback card is usually the better choice. We compared both in Cashback vs Reward Points.
Keep an eye on the card you already have
Most people never check what their card actually pays them, or notice when the bank cuts it. The SkyloFin app reads your bank and card SMS on your phone and lists every spend and every card bill in one place, with a reminder before each due date. It is free and has no ads. Paying a card bill late costs far more than any points you earn.
Frequently asked questions
How much is 1 HDFC reward point worth?
It depends on the card. On Regalia Gold about ₹0.50, on Infinia Metal and Diners Club Black Metal about ₹1 when redeemed for flights and hotels on SmartBuy, on MoneyBack+ about ₹0.20, and on Freedom about ₹0.15.
How much is 1 SBI Card reward point worth?
On most SBI cards, including SimplyCLICK, Prime, Elite and PULSE, one point is worth about ₹0.25.
How much is 1 Axis EDGE point worth?
About ₹0.20 on Select and Privilege and about ₹0.40 on Magnus. Atlas earns EDGE Miles, worth about ₹2 each on SkyloFin’s card data.
Can I convert reward points into cash?
Many banks let you pay part of your card bill with points (statement credit), but this is usually the lowest value per point. Flights, hotels or partner transfers usually give more.
Do credit card reward points expire?
On many cards, yes. IDFC FIRST points expire after 24 months and Kotak points after 2 years, while some cards, such as IndusInd Legend, have points that never expire. Check your card’s terms.
This is general information to help you compare, not financial advice. SkyloFin is not a financial adviser. Point values, earn rates, fees and caps change, so check the bank’s own terms before you apply or redeem. Card figures are from SkyloFin’s card pages as on 12 October 2026; card data sourced via CardAdvisor.in. SkyloFin may earn a commission when you apply through our links; it never changes what you pay.
Updated 18 Oct 2026.
