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ICICI Sapphiro

Mid

ICICI Bank

Where it ranks · across all 71 cards

#55 Online shopping0.5%direct#55 Groceries0.5%direct#56 Dining out0.5%direct

Devaluation history

  • 2026-04-01 - Domestic lounge now requires ₹75K/quarter (was unconditional). BMS offer needs ₹25K/quarter.

What a point is worth

Earning 2 pts / ₹100, the same point pays very differently by redemption path:

Redemption pathPer pointEffective on spends
Bank travel portal₹12.00%
Vouchers / catalogue₹0.51.00%
Statement credit₹0.250.50%
Partner transfersbest: Air India Maharaja Club at 6:1 (ceiling 0.6%)₹0.10-₹0.300.20%

iShop flights ₹1/pt; vouchers ~₹0.5 post-2026 devaluation; statement ₹0.25. Rankings across KaunsaCard use a single conservative value (₹0.25/pt = 0.50%); transfer ceilings assume premium-cabin awards and are never used to rank.

Reward rules

Points valued at ₹0.25/pt - conservative, what rankings use · transfers reach up to ₹0.30/pt via Air India Maharaja Club at 6:1

Base rate - everything not covered below

2 pts / ₹100= 2 pts per ₹100

0.5-0.6%

value range by redemption

1 pt/₹100 on utility & insurance (half rate, not zero)

1 pt / ₹100= 1 pts per ₹100

0.3-0.3%

value range by redemption

Source: ICICI Sapphiro page · 2026-08-22

2X international spends

4 pts / ₹100= 4 pts per ₹100

1.0-1.2%

value range by redemption

Source: ICICI Sapphiro (icici.bank.in) · 2026-08-20

Via portals & vouchers - alternate methods (display, never rank)

  • ✈ iShop flight redemption boost2.0%
    via ishopsrc ↗
  • 🎟 iShop vouchers (devalued to ~2%)2.0%
    via ishopsrc ↗

    2026: iShop voucher value cut sharply, PLUS 3.5%+GST processing fee on Flipkart/Swiggy/Amazon Pay vouchers - usually not worth it now. Brand list harvested from the public iShop catalog.

Milestones

₹4,00,000 / year

4,000 RP (then 2,000 RP per extra ₹1L, max 20,000 RP/yr)

worth ≈ ₹1,000

Transfer partners

ICICI Bank Rewards (all other cards: 6:1) - what 10,000 points become. Full matrix with live amounts on the Transfers page.

PartnerRatio10,000 pts →≈ value
Air India Maharaja ClubAll other ICICI credit/debit cards; min 2,000 RP per conversion.6:11,666₹1,000-₹2,999

Weak 6:1 route available on every ICICI card (Sapphiro, Coral etc.) - catalogue redemptions usually beat it; useful only to top up a Maharaja balance.

Earns nothing on