Tier assessment is a process through which we assess the current tier of the customers and basis the minimum balance of the previous quarter, the bank upgrades/downgrades the customer to the higher/lower tier.

To continue enjoying exclusive Megastar benefits, users need to maintain a minimum balance every quarter, effective 23rd Jan 2024.

Customers in the lower tier who fulfil the criteria of average minimum quarterly balance, effective 23rd Jan 2024 will be upgraded to a higher tier.

Megastar Downgrade: Existing Megastar users need to maintain a minimum average balance of Rs. 50,000 (Savings) or Rs. 2,00,000 (Savings + FD) in a quarter. Users unable to meet the above criteria will move to lower tier (Superstar/Star depending on the min balance maintained), on the first date of next quarter

Superstar Upgrade: Existing Superstar users who maintain a minimum average balance of Rs. 50k (Savings) or Rs. 2 lakh (Savings + FD) in a quarter will be upgraded to the Megastar tier, on the first date of next quarter. Users unable to meet the above criteria will move to the Star tier on the 1st date of next quarter. No charges will be applied in case of a tier downgrade.  

Star Upgrade: Existing Star users who maintain a minimum average balance of Rs. 50k (Savings) or Rs. 2 lakh (Savings + FD) in a quarter will move to the Megastar tier, on the first date of the next quarter. Existing Star users who maintain a minimum average balance of Rs. 25k (Savings) or Rs. 1 lakh (Savings + FD) in a quarter will move to the Superstar tier, on the first date of the next quarter

On the 1st of every new quarter, the tier will be evaluated for assessment. There are 4 quarters for tier evaluation:
Q1: April to June
Q2: July to September
Q3: October to December
Q4: January to March

Example:

Case 1: Users upgraded in Q1 (April- June)

For such users, tier assessment will happen on 1st October, Q3 (Oct-Dec). quarter. The average balance of Q2 (July to September) would be considered for tier evaluation.

Case 2: Star Users onboarded in Q1 (April- June)

For such users, tier assessment will happen on 1st October, Q3 (October to December). The average balance of Q2 (July to September) will be considered for tier evaluation.

Tier assessment criteria are applicable from 23rd Jan 2024.

For the users upgraded (Star to Superstar/ Megastar, Superstar to Megastar) in a particular quarter, tier evaluation would be done on the first day of the Quarter after the next.

E.g.: If a user gets upgraded in Q1 (Apr-June), then he/ she would need to ensure that the minimum balance requirement is met in Q2 (July to Sept). Accordingly, tier evaluation would be done on 1st Oct (first day of Q3)

For the users Downgraded (Megastar to Star), the user’s tier will again be evaluated in the current quarter and basis the average min balance, the user’s tier will be upgraded/downgraded to a higher/lower tier on the first of the next quarter.

E.g: If a user gets downgraded on 1st April, then he/she would need to ensure that the min balance requirement is met in Q1 (April- June). Accordingly, tier evaluation will be done on 1st July (the first day of Q2)

At any given point in time, a user would enjoy the reward structure of the current loyalty tier.

Megastars moved to Star

Case 1: Currently holding Visa Signature Card.

• Users will continue to use the Visa Signature Debit Card and enjoy all benefits tied to the VISA Signature Debit card (Zero Forex, free ATM Cash withdrawal, Domestic Lounge access, spend limits on the card).
  
  
• Other benefits- 0.25 % INDIE gems on Debit Card spends, 2% INDIE gems on favourite brands and fuel spends of the superstar tier will be valid.

Case 2: Currently holding Visa Platinum Card.

• Users will continue to use the VISA Platinum Debit Card to enjoy all benefits tied to the platinum Debit card of the superstar tier. However, such customers will not be able to apply for a Visa Signature Card until they upgrade to the Megastar tier.

Superstars moved to Star tier:

• Users will continue to hold Visa Platinum Debit Card and users will enjoy all benefits for the Star tier, both Debit card and non-Debit card specific.

At any given point in time bank can choose to recard the debit card before the expiry. Re-carding will happen as per the downgraded tier of the customer as applicable.

Upgrade to Megastar
If a Star user maintains an average minimum balance of Rs. 2 lakhs (Savings + FD) or Rs. 50k (Savings) in a quarter then his/her tier will be upgraded to the Megastar tier in the next tier assessment cycle outlined in the previous Section.

You can redeem your Gems from the Rewards section by clicking on the “Redeem now” link. INDIE Gems can be redeemed as cashback or in the form of your favourite brand vouchers. The cashback is credited instantly to your INDIE savings account.

Here are the redemption limits:
Daily limit: 1500 INDIE Gems
Monthly limit: 2500 INDIE Gems
Yearly limit: 30000 INDIE Gems 

 1 INDIE Gem = ₹1

Yes, your Gems expire after one year from the date you earned them.

No charges will be applicable.