After American Express and HDFC Bank, YES Bank has hopped onto the Diwali promotions train. A new YES Bank Diwali offer allows you to earn 5X Reward Points when you shop using your YES Bank Credit Cards at select merchants this festive season.

You earn 5X Rewards points when you complete a purchase using a YES Bank Credit Card with the following merchants through November 15, 2018:

• Amazon
• Jabong
• Reliance Digital
• MakeMyTrip
• OYO Rooms
• BigBasket

You have to spend a minimum of INR 20,000 on your YES FIRST credit card or INR 10,000 if you hold the YES Premia or YES Prosperity credit card to qualify for this promotion. This could be at any merchant, including the above-mentioned partners. Also, YES Bank clubs all add-on card spends with the primary card. So if the total spends over all your add-cards hit the required mark, you get the 5X Reward Points on the spends on the five merchants above.

The YES FIRST Credit Card, for example, earns you 8 points for every INR 100 spent. With this promotion, that number goes up to 40 points/ INR 100. Taking into account that each YES Bank Reward point is valued at INR 0.25, you get a 10% reward rate. Not bad. But a far cry from HDFC Bank’s promotional reward rates which run up to 50%.

The maximum number of bonus points have been capped at 8,000 Reward points for YES FIRST and 4,000 Reward points for YES Premia & YES Prosperity credit cards. So, you will end up hitting the 8000 rewards points ceiling on just an INR 25,000 spend.

The YES BANK Cashback, Cashback Plus, Corporate, and Purchase Credit Card are not part of this promotion so you won’t be earning any bonuses if you use these cards. Also, you cannot stack this offer with any other existing offer. You can read the rest of the terms and conditions here.

Bottomline

This year’s YES Bank Diwali offer gives you an opportunity to add a few more points to your stash. For those with multiple credit cards, as a standalone promotion, this isn’t the best one out there. But when you consider that even the better ones have caps, it is an idea to use your YES Bank credit card if you’ve hit the bonus limit on other cards.

What do you think of YES Bank’s Diwali offer?