Equitas PowerMiles Now Transfers to Air India 1:1: Worth It?

Updated as of 23 Oct 2026. Fees and earn rates from Equitas Small Finance Bank’s PowerMiles card page, checked 23 Oct 2026. The Air India transfer is based on cardholders who made transfers today; Equitas’s own page has not been updated yet.

Equitas launched the PowerMiles card with a promise: reward points would convert 1:1 into airline miles. Until now that was only a promise. From today, cardholders are transferring PowerMiles reward points to Air India Maharaja Club at 1:1 through the bank’s Xchange portal, and the points are arriving. That makes a ₹5,000 card from a small finance bank one of the better ways to earn Air India points in India.

Check first: Equitas’s card page still says miles transfers go live “from Mar’27”, and the bank hasn’t announced the launch. Log in to Xchange and confirm Air India shows at 1:1 before you plan around it. We’ll update this post when Equitas confirms the partner list, any fee and any cap.

What 1:1 is worth

Spend	Points per ₹100	As Xchange vouchers (₹0.50/pt)	As Air India points (₹1.10/pt)
Everyday spends in India	3	1.5%	3.3%
International spends (3X)	9	4.5%	9.9%, about 7.5% after the 2% forex markup and GST
Fuel, rent, wallet loads, government payments	0	–	–

Transferring more than doubles what your points are worth. The international rate is the standout: even after the forex markup, about 7.5% back in Air India points is rare for any card in India.

The card in one table

Joining fee	₹5,000 + GST, waived if you spend ₹1.2 lakh in the first 90 days
Annual fee	₹5,000 + GST, waived if you spent ₹4.8 lakh in the previous year
Rewards	3 points per ₹100; 9 on international spends
Forex markup	2%
Lounges	2 domestic visits and 1 international visit a quarter
Memberships	Club Marriott and EazyDiner, claimed within 90 days of issue
Fuel	1% surcharge waiver, up to ₹450 a cycle

How it compares for Air India points

Axis Atlas still earns more Air India points on everyday spends: 2 EDGE Miles per ₹100, which become 4 Maharaja points at its 1:2 ratio, but only up to 30,000 EDGE Miles a year to its main partners. PowerMiles wins abroad, with 9 points per ₹100 and a 2% markup. And unlike Axis, Equitas hasn’t announced a yearly transfer cap. See every card that transfers to Air India on our Air India Maharaja Club page, and what those points can book on the Airline Partner Map.

Should you get it?

You are…	What to do
Already holding PowerMiles	✅ Stop redeeming for vouchers. Log in to Xchange and move points to Air India when you have an award in mind
Spending a lot abroad and flying Air India or Star Alliance	✅ Worth applying: about 7.5% back abroad in Air India points
Spending ₹4.8 lakh a year in India	⚠️ Good, at 3.3% with the fee waived. Atlas earns more Air India points until its cap
Spending under ₹1.2 lakh in the first 90 days	❌ You’ll pay ₹5,900 with GST. Skip

DealUni take: the 1:1 transfer turns PowerMiles from a 1.5% card into a 3.3% Air India card, and close to 7.5% abroad. Confirm it in Xchange, then use it. Chhota bank, par Maharaja ka bada darwaza. (A small bank, but a big door to Maharaja Club.)

Sources: Equitas PowerMiles card page; PowerMiles terms (31 Jul 2026); cardholder transfers reported 23 Oct 2026. Checked 23 Oct 2026.