Every transfer partner, one matrix
HDFC → KrisFlyer at 1:1. Axis Magnus → KrisFlyer at 5:4. The canonical reference for which bank points go to which airline / hotel program, and what each transfer is actually worth in rupees. Partners get withdrawn without notice (Axis dropped Marriott Bonvoy in April 2026, Amex dropped Etihad Guest in July), so check before you transfer.
A transfer partner converts bank reward points into airline miles or hotel points at a fixed ratio, and it is where most of a premium card's value hides. The matrix below lists every bank-to-partner route in our dataset, with the ratio where a source states one. Where no source states a ratio we show “ratio not stated” rather than assuming 1:1, because an assumed ratio is a made-up number and this is the most devaluation-prone data on the site. Ratios change with little notice, so confirm on the bank's page before you transfer.
Airline partners
Best per-point values are typically in premium-cabin international awards.
Singapore KrisFlyer
Business class to Europe at 70K miles (vs ₹3-4L cash)
Air Vistara CV
Domestic Premium Economy at low CV cost, post AI merger ratio in flux
British Airways Avios
Short-haul Asia awards from 8-10K Avios, best per-mile value
United MileagePlus
Star Alliance access; LHR-LAX business class at ~70K miles
Etihad Guest
Premium-cabin to Europe via AUH; partner award sweet spots
Hotel partners
Lower per-point values than airlines, but more predictable redemption (off-peak Cat 4 properties).
Marriott Bonvoy
Cat 4 hotels at 25K points = ~₹15-25K cash room
World of Hyatt
Cat 4 properties at 12K points = ~$300+ rooms
Taj Epicure
Direct INR conversion at Taj properties, Amex Platinum exclusive
💡 Don't just look at the matrix, run YOUR spend through it
The matrix shows the ratios. The points calculator tells you what your specific spend pattern would actually earn at the best transfer partner, net of annual fee, with welcome bonus thrown in.
Open the points calculatorFAQ
›What is a transfer partner?
An airline or hotel program that accepts your bank's reward points at a fixed conversion ratio. The transfer multiplies the value of your points: 1 HDFC point is worth ~₹0.30 as cashback but ~₹4-6 when transferred to Singapore Airlines KrisFlyer for a premium-cabin award.
›How are ratios written?
X:Y means X bank points = Y partner points/miles. So '1:1' is one-to-one (HDFC → Singapore Air), '5:4' is five EDGE Miles = four KrisFlyer miles (Axis Magnus), '2:1' is two source points = one partner mile (HDFC Regalia → KrisFlyer at the older ratio).
›Which transfers actually have value?
Transfers to airline programs (KrisFlyer, Avios, MileagePlus) tend to yield 2-5 INR/point at sweet-spot redemptions. Hotel transfers (Marriott Bonvoy, Hyatt) yield ~0.8-1.2 INR/point. Transfers FROM hotels TO airlines (Marriott → United at 3:1) almost always lose value vs direct hotel use.
›Do transfers happen instantly?
Varies. HDFC → KrisFlyer is typically 24-48 hours. Axis EDGE → KrisFlyer is 2-5 days. Amex MR → most partners is instant. Always confirm award availability BEFORE transferring, points are non-refundable once moved.
›How often do programs devalue?
Every 12-18 months on average. Major devaluations in the last 24 months: HDFC stripped Vistara CV transfers post AI merger; Marriott added peak-season pricing; Amex MR shuffled Taj rates. The strategy: burn points within 6-12 months of earning, don't hoard.