HSBC India unveils upgraded rewards programme with 20 transfer partners
Mumbai (Maharashtra) [India], May 16: HSBC India today announced the launch of its upgraded rewards programme, HSBC Rewards Marketplace, a seamless platform designed to elevate the rewards experience for its customers with 20,000 offerings. This programme allows HSBC India credit card holders to do real-time redemptions.
For airmiles, HSBC now has 15 leading airlines including Air India Maharaja Club, KrisFlyer (Singapore Airlines), Etihad Guest, British Airways, Flying Blue (Air France) and Qatar Airways. It also has five global hotel chains as transfer partners such as Accor (5,000+ hotels worldwide), Marriott Bonvoy (8,000+ properties), IHG Hotels & Resorts (6,000+ hotels), Shangri-La Circle, and Wyndham Rewards (60,000+ hotels).
This programme gives credit card holders of HSBC Premier, HSBC Prive, HSBC TravelOne and HSBC Platinum the power to now effortlessly track their reward points earned and redeemed through the HSBC Mobile Banking App. With over 20,000 options, customers can redeem points for a wide range of rewards, including vouchers, merchandise, gift cards, Apple products, airmiles, and hotel points.
With real-time redemptions, customers can enjoy instant voucher delivery and real-time conversions for a frictionless redemption experience. There are no caps on redemptions, making it one of the most flexible programmes in the industry.
Exclusive benefits:
- Get a 1:1 conversion ratio for most transfer partners on HSBC Premier, HSBC Prive, and HSBC TravelOne.
- A quick turnaround time of just one day for point conversions.
- Access to premium offerings like the Apple Store with 1:1 conversion for HSBC Premier and HSBC Prive.
The HSBC Rewards Marketplace is designed for ease of use, allowing customers to navigate effortlessly through categories and redeem points in just a few clicks.
How It Works:
- Log in to the HSBC Mobile Banking App.
- Select your credit card and click on 'View More'.
- Tap on 'Reward Points' to view your total points and any expiring points.
- Select 'Redeem Points Now' to access the Rewards Marketplace.
- Choose from a variety of categories, including travel, merchandise, and gift cards, and redeem your points instantly.
Commenting on the launch, Sandeep Batra, Head, International Wealth and Premier Banking, HSBC India, said, "At HSBC India, we are committed to delivering exceptional value and convenience to our customers. The HSBC Rewards Marketplace is a testament to our dedication to innovation and customer-centricity. With its enriched features, extensive partner network, and seamless user experience, we aim to redefine customer engagement and customer centricity."
For more information, visit the HSBC Rewards Marketplace on the HSBC Mobile Banking App or HSBC India website, Rewards on Credit Cards | Redeem Reward Points - HSBC IN.
HSBC Bank India
The Hongkong and Shanghai Banking Corporation Limited in India offers a full range of banking and financial services through 26 branches across 14 cities.
HSBC is one of India's leading financial services groups, with around 44,000 employees in its banking, investment banking and capital markets, asset management, insurance, software development and global resourcing operations in the country. It is a leading custodian in India. The Bank is at the forefront in arranging deals for Indian companies investing overseas and foreign investments into the country.
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 58 countries and territories. With assets of US$3,054bn at 31 March 2025, HSBC is one of the world's largest banking and financial services organisations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
4 hours ago
- Time of India
Analysts divided over impact of GST overhaul
Representational Image MUMBAI: The government's planned GST overhaul has drawn mixed assessments from HSBC, S&P and SBI, with estimates of a potential revenue gap ranging from Rs 60,000 crore to Rs 1.43 lakh crore, though the actual fiscal impact remains uncertain. HSBC warned of a $16 bn (Rs 1.43 lakh crore, or 0.4% of GDP) shortfall if products are shifted into lower tax slabs, while SBI projected a smaller average loss of Rs 85,000 crore, with Rs 45,000 crore in FY26, that could be largely offset through the compensation cess. S&P, meanwhile, noted it was too early to gauge the precise impact, adding that reforms were unlikely to be pushed to the extent of significantly weakening government revenues. Mixed signals HSBC's analysis suggested the revenue burden would be equally split between the Centre and states, but pointed out that states may find it harder to manage under FRBM deficit caps without cutting capital expenditure. If the Centre were to compensate them, it would need fresh resources, though raising taxes on luxury goods would dilute the intent of simplifying slabs. Still, HSBC highlighted two benefits from the move - a near-term demand boost and long-term efficiency gains from a simpler, more predictable assessment was more sanguine, arguing that the immediate revenue loss can be absorbed using the cess buffer. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your Finger Shape Says a Lot About Your Personality, Read Now Tips and Tricks Undo Even if it isn't, it estimated that a consumption boost of Rs 5.5 lakh crore could generate around Rs 52,000 crore in additional GST collections. The proposed reform would collapse the four current GST slabs - 5%, 12%, 18% and 28% - into two (5% and 18%), with a 40% rate for luxury and sin goods. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
New Indian Express
13 hours ago
- New Indian Express
Car prices may fall by up to 10% if GST rate is revised to 18%
MUMBAI: Small car prices may decrease by up to 10% if the applicable tax slab is reduced from 28% to 18%. As part of the wider reforms to boost economic growth, the centre has proposed moving from four tax slabs to a simplified two-rate system: 5% for essential items and 18% for most other goods. Luxury and sin products are likely to face a steeper levy of around 40%. 'Cars currently are under the 28% GST band and if GST is rationalised to 18% then prices for entry-level cars can come down by 8-10%. Players like Maruti, Hyundai and Tata Motors which have a strong entry-level portfolio are likely to be the key beneficiaries,' Sunny Agrawal, Head Fundamental Research at SBI Securities told TNIE. At present, vehicles are taxed under multiple slabs combining GST and cess. Small cars are taxed at 28%, whereas large cars (above 4 meters in length and 1200cc in engine size) are taxed (including cess) in the range of 43-50%. As per reports, the government is weighing a flat 18% levy on smaller cars and two-wheelers whose engine size is below 350cc. Luxury cars and sports utility vehicles are expected to fall under the higher 40% bracket. Industry experts believe that the rate cut will provide a major boost to the small car segment, as prices in this category have increased by 50% to 80% over the past six years, making them unaffordable for many buyers. The government's decision to reduce GST comes amid noticeably weak auto demand in the first four months of FY26. Car sales have declined by 1%, while two-wheeler sales are down 4% compared to the same period in FY25. Global financial firm HSBC estimates that the proposed tax reforms could result in around an 8% drop in the prices of small cars. It added that bigger cars could also become cheaper in the range of 3-5% if the change is implemented. HSBC, however, stated that any reduction in GST slabs for vehicles (four and two-wheelers) could mean a loss of around $4-5 billion in GST collections for the government. Meanwhile, the expectations of tax cuts on cars have put automakers in a tight spot as consumers have started deferring their purchase and even cancelling their bookings. 'The buyers have gone into the wait-and-watch mode. We are hopeful that the tax cut comes into effect before the festive season as any delay might result in lower sales and increased unsold inventory for us,' a senior executive of a leading car manufacturer told TNIE. Analysts at Motilal Oswal Financial Services, who expect a 7% reduction in vehicle prices, stated that if these rates are not implemented soon, customers are unlikely to buy vehicles before this move in anticipation of the rate cut. 'At a time when OEMs were looking to push dealer stock in anticipation of a demand revival in the festive, this move is likely to put OEMs in a spot in the interim,' said the domestic brokerage firm.
Indian Express
14 hours ago
- Indian Express
Credit upgrade, GST revamp and trade tariffs may redefine India's growth outlook, says HSBC
India's economic outlook could be set for a major shift, with three key developments — the recent S&P credit rating upgrade, a major revamp of the GST structure and changing US trade tariffs — likely to play a crucial role in shaping the country's growth path, according to HSBC Global Investment Research. So, are the clouds lifting or merely shifting? Much depends on how India navigates this complex environment. If US tariffs are rolled back, the drag on growth could ease. If GST reforms are implemented with fiscal discipline and fairness across states, the potential growth benefits could be realised, an HSBC report said. And if the broader economic environment remains strong, the foundation of the S&P rating upgrade will remain intact, it said. S&P Global Ratings recently upgraded India's sovereign credit rating from BBB- to BBB — the first upgrade in 18 years. This move reflects a growing confidence in India's economic fundamentals, particularly its fiscal consolidation efforts. Since the pandemic, India has managed to bring its combined fiscal deficit down from 13.4 per cent of GDP to 7.3 per cent by FY26, and has done so while improving the quality of public spending. Inflation has remained relatively contained, and the current account deficit is modest, the HSBC report said. Based on these improvements, S&P now expects India's GDP to grow at an average of 6.8 per cent over the next three years and its fiscal deficit to narrow further to 6.6 per cent of GDP by FY29. These projections, if achieved, could lower public debt to below 80 per cent of GDP — a key marker of macroeconomic stability, the report said. However, sustaining the momentum behind the growth projections partly depends on how India implements its new GST reforms, HSBC said. Announced a day after the ratings upgrade, the proposed overhaul simplifies the four-rate structure into two main slabs — 5 per cent and 18 per cent — along with a special 40 per cent rate for luxury and sin goods, which could boost consumption in sectors like autos, consumer goods, cement and hospitality. According to HSBC, while this rationalisation is a welcome move for tax compliance and economic efficiency, it comes with a near-term cost. The estimated revenue impact of the GST cuts is around $16 billion (approximately 0.4 per cent of GDP). In line with GST's cooperative structure, this cost is expected to be shared equally between the Centre and the states. But here lies the challenge: state governments, unlike the Centre, have limited revenue options and are already bound by strict fiscal deficit norms under the FRBM Act. Without compensation, many states may be unwilling or unable to absorb this revenue loss. If the Centre attempts to offset this by raising GST rates on other goods, it could dilute the efficiency and growth benefits of the reform — precisely the kind of long-term gains that S&P has built into its upgrade rationale, HSBC said. The third twist in this economic story comes from global geopolitics. The US has decided to impose a 25 per cent tariff on a broad range of Indian exports starting August 27. Around 20 per cent of India's exports go to the US, and roughly two-thirds of these will be impacted. HSBC estimates suggest that these tariffs could shave 0.3 percentage points off annual GDP growth — or up to 0.7 percentage points if tariffs escalate further. The impact may be especially hard on small and medium businesses in sectors like textiles, jewellery, and processed foods, all of which are labour-intensive. Weakening exports could also hit foreign direct investment and corporate capital expenditure at a time when India is counting on private sector investment to drive the next leg of growth, it said. There are signs of diplomatic engagement. Following meetings between US President Donald Trump and the presidents of Russia and Ukraine, reports indicate a push for a peace summit, which could ease tensions around sanctions. India's decision to remove import tariffs on cotton may also help open doors for further trade negotiations with the US. The HSBC report said that India should seize this moment with a clear and coordinated growth strategy — offering short-term support to exporters, exploring room for monetary easing, and pushing ahead with long-pending structural reforms. These include reducing import tariffs on intermediate goods, fast-tracking trade deals (such as with the EU), and removing domestic bottlenecks through deregulation and labour code implementation. The decisions taken now will determine whether this triple jolt sets off a chain reaction of sustainable growth — or just momentary shifts in the clouds.
