Credit card reward portals in India: SmartBuy, iShop and 14 more, compared from their terms

Reward portalsUpdated 9 Nov 2026By Saurabh Garg, credit card enthusiast

M16SRead 9 Nov 2026

A reward portal is a bank's own store for flights, hotels and vouchers. Some pay extra points, as HDFC SmartBuy and ICICI iShop do, up to monthly caps. Most are where you spend points, at a value set per card. Most charge Rs 99 to Rs 149 per redemption. A few companies run most of them.

Checked against16 documents

12 cards named in this guide

What is a credit card reward portal?

It is a website or app, under the bank's name, where you book travel, buy vouchers or products, and spend reward points. Some portals also pay extra points or cashback on what you buy through them, up to a monthly cap.

Each portal has its own terms, separate from the card's. Those terms decide the extra points, the cap, what a point is worth there, and the fee per redemption. This page sums up 16 portals; each name links to the full guide, read from the bank's or the operator's own documents on 9 November 2026.

Which portals pay extra points, and up to what cap?

Only some portals add points on top of the card's normal earn. HDFC SmartBuy, ICICI iShop, Axis Travel EDGE and Grab Deals, Kotak Unbox, IDFC FIRST Rewards Gallery and HSBC Travel with Points do, on some cards. Others, such as YES Rewardz, IndusMoments and Standard Chartered 360 Rewards, are redemption stores with no extra earn in their terms.

Portal	Bank or owner	Extra earn	Monthly cap
GyFTR	Vouchagram India Pvt Ltd; stores for HDFC SmartBuy, SBI Card, Axis, Kotak	HDFC Infinia/Regalia 5X, Diners Black 3X on Instant Vouchers; SBI GV Coins up to 10%	HDFC monthly: Infinia 15,000 RP, Regalia 4,000, others 1,000 cashback; Axis GyFTR Coins no cap
Kotak Rewards (Easy Rewards)	Kotak Mahindra Bank	Not an earn portal; redemption of card Reward Points	Cashback minimum 2,000/4,000/8,000 KRs by card; 2,000 per 1 June 2025 table
Amex Reward Multiplier (now ShopWise)	American Express Banking Corp., India	10X Centurion, 5X Platinum and Gold, 3X Reserve and Travel, 2X MRCC and SmartEarn	25,000 bonus MR points a month; Amazon vouchers Rs 20,000 each a month
Standard Chartered 360 Rewards	Standard Chartered Bank India	No portal bonus; earn set by each card	Not applicable; Rewards card bonus capped 2,000 points a cycle
RBL Rewards	RBL Bank	No portal bonus; Pay with Rewards merchant offers such as 5X	Pay with Rewards uses points up to 10% of cart, per example
HSBC Rewards Marketplace and Travel with Points	HSBC India	12X hotels on Privé and Premier via Travel with Points; 6X Apple via Unicorn	18,000 accelerated points a month; Privé 30,000; Unicorn 20,000
PNB Rewardz	Punjab National Bank	Luxura 4 per Rs 100 plus 3X travel and dining; 5X brand links unpublished	10 redemptions or Rs 3,00,000 a day; e-vouchers Rs 25,000 a month
FIRST Rewards Gallery	IDFC FIRST Bank	FIRST Private hotels: 50 bonus points per Rs 150 at Rs 1 a point	8,000 bonus points a month; redeem 1,00,000 a month, 2,00,000 a year
AU Rewardz	AU Small Finance Bank	Ananta: Rs 5,000 flight booking there unlocks domestic lounge QR, 4 a quarter	25,000 points per statement cycle on most cards
YES Rewardz	YES Bank	No portal-specific accelerated earn found	70% of flight or hotel; 1,00,000 to 6,00,000 points a month by card
IndusMoments	IndusInd Bank	No portal-specific accelerated earn found	Cash credit 2,500 (Platinum, Nexxt) to 20,000 (Legacy) points a month; Pioneer Private uncapped
HDFC SmartBuy	HDFC Bank	10X Reward Points on hotels, IGP, Jockey, PharmEasy; flights 5X	Infinia 15,000 RP a month; Diners Black 7,500; Regalia group 4,000; others Rs 1,000 cashback
ICICI iShop	ICICI Bank	12X reward points on hotels; 6X on flights, buses, vouchers	18,000 points a month on Emeralde Private Metal; 15,000 on most other cards
Axis Bank Travel EDGE	Axis Bank	Atlas, Horizon 5 EDGE Miles per Rs 100; Magnus 60 points per Rs 200	Atlas and Magnus: bonus on Rs 2,00,000 a month; Horizon none stated
Axis Bank Grab Deals	Axis Bank	Brand cashback, such as Myntra 7%, AJIO 8%, or 5X EDGE REWARD Points	Rs 1,000 cashback per card a month; 5,000 points per customer a month
SBI Card Shop & Smile	SBI Card	GyFTR store: up to 10% GV Coins plus voucher discounts up to 40%	Statement credit 60,000 points per card a month, in multiples of 4,000

Read at source on 9 November 2026. Each figure is from the guide linked above, which names the document. Earn and caps change often; check the portal's terms before you buy.

What is a point worth on each portal?

It depends on the card and on what you redeem for. Flights and hotels often get the best value, vouchers and statement credit less. The table gives what each bank publishes.

Portal	Value per point	Cards it covers
GyFTR	GV Coins 1:1 rupee, valid 6 months; HDFC points table lists vouchers NA	HDFC credit/debit, SBI/Tata credit (not corporate), Axis EDGE REWARD (not co-brand), Kotak
Kotak Rewards (Easy Rewards)	4 KRs = Rs 1; cashback 7 to 70 paise per point from 1 June 2025	Kotak credit and debit cards; White and Cashback+ moved to Kotak Unbox
Amex Reward Multiplier (now ShopWise)	No rupee value published in MR terms; statement credit minimum 1,000 points	Centurion, Platinum, Gold, Platinum Reserve, Platinum Travel, MRCC, SmartEarn, corporate cards; no co-brands
Standard Chartered 360 Rewards	Rs 1 Ultimate; Rs 0.25 catalogue and Rs 0.20 statement on Rewards card	Select SC credit and debit cards; not Inner Circle Platinum or Emirates co-brands
RBL Rewards	Rs 1 on Nova; up to Rs 0.25 on ShopRite	Select RBL credit cards, including former Bajaj Finserv co-brands
HSBC Rewards Marketplace and Travel with Points	Rs 0.25 to Rs 1; 1:1 miles on Privé, Premier, TravelOne	Privé, Premier, TravelOne, Visa Platinum, RuPay Platinum
PNB Rewardz	Rs 0.25 a point from 1 Sep 2024; Air India 6:1	All PNB credit cards, plus debit, CASA and PNB One
FIRST Rewards Gallery	Rs 0.25 most cards; Rs 0.40 Ashva; Rs 0.50 Mayura, WOW! Black; Rs 1 Gaj, Private	All IDFC FIRST credit and debit cards
AU Rewardz	Rs 0.20 a point on vouchers and gift cards; other values not published	All AU credit cards with reward points
YES Rewardz	Up to Rs 0.25 a point (SELECT and ELITE+ value charts)	All YES Bank credit cards with YES Rewardz points
IndusMoments	Cash credit Re 1 (Pioneer Private), Rs 0.75 (Crest); Crest to KrisFlyer 2:1	All IndusInd credit cards with reward points
HDFC SmartBuy	Infinia, Diners Black Re 1 on flights and hotels; Regalia Gold Rs 0.50; others up to Rs 0.35	All HDFC credit cards; points on Infinia, Diners Black, Regalia, Diners Privilege, BizPower, BizBlack Metal; others get cashback
ICICI iShop	No published iShop rate; Times Black page says up to Re 1	ICICI credit and debit cards, Net Banking (iCash); co-brands get 4% cashback
Axis Bank Travel EDGE	EDGE Mile Rs 1; EDGE REWARD Point Rs 0.20 (REWARDS card page)	Most Axis credit and debit cards; Atlas, Horizon, Magnus earn bonus
Axis Bank Grab Deals	Cashback to the card or account; points at the card's own value	Axis credit cards (primary only) and savings accounts; points need EDGE REWARDS cards
SBI Card Shop & Smile	Rs 0.25 statement credit (ELITE); about Rs 0.19 on a Netmeds e-voucher	SBI Card retail cards earning Reward Points, incl. BPCL and Air India co-brands

What does each portal charge, and what are the catches?

Most bank portals charge a fee each time you redeem points, often Rs 99 plus GST, and some waive it on top cards. On most portals a voucher cannot be cancelled once bought. The catch for each portal, from its terms:

Portal	Catch from the terms
GyFTR	No cancellation; validity 3 to 12 months; Axis gives no card rewards on gift cards from 28 Aug 2026
Kotak Rewards (Easy Rewards)	Rs 250 per passenger per sector on flights, again on cancellation; 2-year expiry, no reminder
Amex Reward Multiplier (now ShopWise)	Reward Multiplier ended 30 Sep 2026; ShopWise Amazon fee 1.5% plus GST
Standard Chartered 360 Rewards	Rs 99 per order on merchandise and vouchers; redemptions irrevocable
RBL Rewards	Rs 99 plus GST a day; Rs 200 flight or hotel fee; documents conflict
HSBC Rewards Marketplace and Travel with Points	App-only; no cancellation after order ID; Rs 300 to Rs 700 flight fee
PNB Rewardz	PNB card site still says Rs 0.50; MITC adds Rs 99 per redemption
FIRST Rewards Gallery	Rs 99 + GST per redemption; points pay max 70% of travel
AU Rewardz	Rs 99 + GST per redemption; orders final; 2-year expiry, forfeited after 12 months unused
YES Rewardz	Rs 100 + GST per request plus Rs 99 + GST on flights; Marquee fee from 15 June 2026
IndusMoments	Rs 149 per cash redemption, Rs 100 others; Club Vistara and InterMiles withdrawn
HDFC SmartBuy	Bonus posts within 90 working days; points cover at most 70% (50% on other cards) of bookings
ICICI iShop	Rs 99 + GST per points use; vouchers non-cancellable; 2.5% card fee on Amazon, Flipkart, Swiggy vouchers
Axis Bank Travel EDGE	Rs 99 a redemption, Rs 199 a transfer; Atlas transfer ratios differ between documents
Axis Bank Grab Deals	Paid in 90 to 120 days; same session, same card; no EMI, recharges, tickets
SBI Card Shop & Smile	Rs 99 fee; 24-month expiry; no cancellation; points clawed back on cashback offers

Who runs these portals behind the bank's name?

A few companies run most of them. The bank's or the operator's own pages name them: GyFTR (Vouchagram): GyFTR, GyFTR, HDFC SmartBuy, SBI Card Shop & Smile, SBI Card Shop & Smile; EasyRewardz: Kotak Rewards (Easy Rewards), Kotak Rewards (Easy Rewards), RBL Rewards, RBL Rewards; Carlton One: HSBC Rewards Marketplace and Travel with Points; Loylty Rewardz: PNB Rewardz, YES Rewardz, IndusMoments; Reward360: HDFC SmartBuy, ICICI iShop.

Standard Chartered names no operator and calls itself the facilitator. Your contract is with the bank, and the bank's terms decide disputes.

Do gift cards bought on a portal earn rewards?

Some portals pay extra points on vouchers, as SmartBuy does, while some card terms exclude gift cards from rewards, as Axis does from 28 August 2026. Read the gift cards and vouchers guide and the GyFTR guide before buying vouchers for points.

Where is the full guide for each portal?

Each portal has its own guide, with every figure tied to the document it came from. Bank portals: Kotak Rewards (Easy Rewards), Amex Reward Multiplier (now ShopWise), Standard Chartered 360 Rewards, RBL Rewards, HSBC Rewards Marketplace and Travel with Points, PNB Rewardz, FIRST Rewards Gallery, AU Rewardz, YES Rewardz, IndusMoments, HDFC SmartBuy, ICICI iShop, Axis Bank Travel EDGE, Axis Bank Grab Deals, SBI Card Shop & Smile. Voucher store: GyFTR.

Sources

This explains what the documents say. It is not financial advice.