YES BANK EMI Credit Card Review 2026: An EMI Card Whose EMI Spends Stopped Earning
The YES EMI Card costs ₹499, waived at ₹1.2 lakh, and pays 1% cashback. Since 15 June 2026, EMI transactions earn no reward points at all. Full review and FAQs.
The YES BANK EMI Credit Card costs ₹499, waived on ₹1,20,000 of annual spend, and pays 1% cashback on other transactions.
It is built around converting purchases into instalments — and in June 2026 YES stopped rewarding exactly that.
YES BANK EMI Credit Card Quick Overview
| **Card type** | Entry EMI card |
|---|---|
| **Best for** | Someone who converts large purchases into instalments |
| **Joining / renewal fee** | ₹499 + GST, same on renewal — renewal waived at ₹1.2 lakh of annual spend |
| **Network** | Visa |
| **Base reward rate** | **1.0%** |
| **Reward currency** | Cashback, valued at ₹1 each |
| **Lounge access** | None published |
| **Forex markup** | 3.5% |
Reward Structure: How You Earn
1% cashback on other transactions, credited against the statement.
| Spend | Effective rate |
|---|---|
| Everything else | 1.0% |
| Fuel, rent, wallet loads, government, gaming | **0%** |
The transactions this card exists for no longer earn
On 15 June 2026, YES BANK excluded Post Purchase EMI and Instant EMI transactions from earning reward points, along with rental, wallet, fuel, government and marketing spends.
On a card whose entire purpose is instalment conversion, that is a pointed change. The card still does its job — it converts purchases into EMIs — but it no longer rewards you for using it the way it was designed.
No joining fee waiver
YES records 'Not Applicable' in the joining-fee waiver column for the EMI Card, though the ₹499 annual fee is waived on ₹1,20,000 of spend.
Two things changed on 15 June 2026
Reward points stopped being awarded on rental, wallet, fuel, government and marketing or advertising transactions, on cash withdrawals, and on Post Purchase EMI and Instant EMI.
The foreign currency markup rose on most of the range. Reserv and the YES First family went from 1.75% to 2.00%; Elite+, YES Essence and YES Prosperity Business to 3.00%; and Select, ACE, the Virtual RuPay card and Klick from 2.75% to 3.50% — a 0.75-point jump, the largest in the range.
Only YES Private, Marquee, FREO and the BYOC/EMI/Wellness/Zagg group were unchanged. Anyone reading a YES BANK review written before June 2026 is looking at both a wider earning base and a cheaper foreign markup than exist now.
A separate 1% dynamic currency conversion charge catches people out. If an international transaction is billed to you in rupees — at a foreign point of sale, or at an overseas merchant selling in INR — YES levies 1% plus GST on top of the markup above. Choosing to be charged in rupees abroad costs more, not less.
Category Restrictions: Where You Won't Earn
- Where you earn nothing: FROM 15 JUNE 2026 YES BANK AWARDS NO REWARD POINTS on rental, wallet load, fuel, government, and marketing or advertising transactions, nor on cash withdrawals, Post Purchase EMI or Instant EMI. Separately, YES publishes a 'Select categories' MCC list — utilities (4899, 4900), insurance (6300, 6381) and education (8211, 8220, 8241, 8244, 8249, 8299) — which earn the card's LOWEST band rather than nothing.
- Point expiry: 36 months from the date of earning, per YES BANK's Credit Card Redemption Rules. A minimum of 2,000 Reward Points is required before anything can be redeemed.
Fees and Charges
| Charge | Amount |
|---|---|
| Joining fee | ₹499 + GST |
| Renewal fee | ₹499 + GST |
| Finance charges | 3.99% per month (47.88% per annum) on revolving credit, cash advances and overdue amounts. |
| Cash advance fee | 2.5% of the amount withdrawn. Not applicable to any Virtual Credit Card. |
| Cash advance interest | 3.99% per month, charged from the date of withdrawal with no interest-free period. |
| Forex markup | Set per card variant and RAISED ON MOST OF THE RANGE ON 15 JUNE 2026: YES Private 0.50%; Marquee 1.00%; Reserv and the YES First family 2.00% (from 1.75%); YES Prosperity Business, Elite+ and YES Essence 3.00%; Select, ACE, Virtual RuPay and Klick 3.50% (from 2.75%); FREO 3.40%; BYOC, EMI Card, Wellness, Wellness Plus, Zagg and Novio 3.50%. NOT APPLICABLE AT ALL to Uni, Uni RuPay Virtual, AI Inside and NIYO. |
| Dynamic currency conversion | 1% plus GST, charged IN ADDITION where an international transaction is billed in INR — at an overseas point of sale or at a merchant registered abroad selling in rupees. Not applicable to Uni, Uni RuPay Virtual, AI Inside or NIYO. |
| Fuel transactions | A fuel surcharge of 1% to 2.5% plus GST may be levied by the acquirer and is payable by the cardholder. Most YES cards carry a 1% surcharge waiver; note separately that fuel has earned NO reward points since 15 June 2026. |
| Reward redemption | NIL on YES Private. ₹100 + GST per redemption request on Marquee, Reserv and every other variant. A convenience fee of ₹99 + GST applies to flight bookings on top. |
| GST | 18% on all fees, interest and charges. |
Is the YES BANK EMI Credit Card Worth It?
Judge this card on its EMI terms, not its rewards. The 1% cashback is incidental, and the spending the card is for earns nothing.
The foreign currency markup is 3.5%, YES BANK's top band, unchanged in June 2026.
Frequently Asked Questions (FAQs)
Do EMI transactions earn rewards on the YES EMI Credit Card? No. Since 15 June 2026, YES BANK has excluded Post Purchase EMI and Instant EMI transactions from earning reward points — which on this card means the transactions it exists for.
What is a YES Rewardz Point worth? Between ₹0.10 and ₹0.25 depending on how you redeem. Flight and hotel bookings pay ₹0.25 — the maximum on every variant — while statement credit pays ₹0.10. E-gift vouchers pay ₹0.15 on YES Private and Marquee, ₹0.10 elsewhere.
Is there a fee to redeem YES BANK reward points? ₹100 plus GST per redemption request on every card except YES Private, where it is nil. A further ₹99 plus GST convenience fee applies to flight bookings. A minimum of 2,000 points is required for any redemption, and points expire after 36 months.
What does not earn reward points on YES BANK cards? Since 15 June 2026: rental, wallet, fuel, government and marketing or advertising transactions, cash withdrawals, and Post Purchase EMI and Instant EMI. Utilities, insurance and education fall into YES's 'Select categories' and earn the card's lowest band rather than nothing.
Cards Mentioned in This Article
