What is the forex markup on the Equitas PowerMiles Secured Credit Card?

2% of each foreign-currency transaction, before GST.

Which spends earn no rewards on the Equitas PowerMiles Secured Credit Card?

No points on rent, wallet load, EMI, fuel, cash advances, government spends (MITC). Aggregators add education for PowerMiles.

M16S / Equitas Small Finance Bank / Equitas PowerMiles Secured Credit Card

premium · rewards, travel, secured

Equitas PowerMiles Secured Credit Card

Equitas Small Finance BankLast checked 11 Oct 2026invite-only

The Equitas PowerMiles Secured Credit Card costs Rs 5,000 a year. Its base return is 1.5% (3 RP per Rs 100). Accelerated earn: 3X on international POS on a best-effort basis. The forex markup is 2%. Read from the issuer's documents and an aggregator on 11 Oct 2026.

Annual fee: Rs 5,000+ GST
Fee waived at: —
Base return: 1.5%
Forex markup: 2%
Interest: 3.75%a month

Fees

Joining fee	Rs 5,000
Annual fee	Rs 5,000
Fee notes	MITC lists Rs 5,000 joining and Rs 5,000 annual, same as unsecured PowerMiles.

Rewards

Reward currency	Reward Points
Base earn	3 RP per Rs 100
Base returnunverified	1.5%
Point valueunverified	1 RP = Rs 0.50 products/vouchers/travel; Rs 0.25 cashback (aggregator figures for PowerMiles)
Accelerated earn	3X on international POS on a best-effort basis
Caps	Grocery and utility points capped at 2,000 per month per category; insurance capped at 2,000 points per day (MITC).
Spends that earn nothing	No points on rent, wallet load, EMI, fuel, cash advances, government spends (MITC). Aggregators add education for PowerMiles.
Points expiry	3 years
Reward notes	Same reward rules as PowerMiles per MITC. base_return_pct = 3 x 0.50 = 1.5%, using aggregator point value.

Transfers

Partnersunverified	British Airways, United Airlines, Finnair, Air Canada, Etihad, Thai Airways, AirAsia, Air India, Japan Airlines, IHG Hotels and Resorts, Wyndham Hotels and Resorts
Ratiounverified	1:1 Xchange Miles (as for PowerMiles; not separately confirmed for secured)

Travel and perks

Forex markup	2%
Fuel surcharge waiver	1% on fuel txns Rs 500-3,000; cap Rs 450/month, Rs 5,400/year

Charges and eligibility

Interest per month	3.75%
Late payment fee	Nil below Rs 100; Rs 100 (101-500); Rs 500 (501-5,000); Rs 750 (5,001-10,000); Rs 900 (10,001-25,000); Rs 1,000 (25,001-50,000); Rs 1,200 above Rs 50,000
Cash advance fee	Zero cash limit on secured variants
Eligibilityunverified	Against a fixed deposit; paisabazaar says the secured variant is available to select customers. FD minimum not found
Fine-print notes	Secured variant appears in the MITC fee table and forex row; no product page, FD minimum or limit-to-FD ratio found. Status set to invite-only on paisabazaar's 'select customers' line. MITC v1.1: reward redemption fee Rs 99; min redemption 500 points; points nullified if card unused for 365 days; rent (MCC 6513) fee 1% capped Rs 3,000 per txn; wallet load (MCC 6540) fee 2.5%; over-limit 2.5% min Rs 550; payment return 2% min Rs 450; 3-day grace after due date. MITC says actual fees are conveyed at application. Privilege tiers (Blue to Diamond, based on 3 consecutive months of spend) raise point value per aggregators; tier details not read from a bank document.

Questions

What is the annual fee of the Equitas PowerMiles Secured Credit Card?: Rs 5,000 a year, before GST.
What is the forex markup on the Equitas PowerMiles Secured Credit Card?: 2% of each foreign-currency transaction, before GST.
Which spends earn no rewards on the Equitas PowerMiles Secured Credit Card?: No points on rent, wallet load, EMI, fuel, cash advances, government spends (MITC). Aggregators add education for PowerMiles.